吉利德SG联合K药一线治疗PD-L1+TNBC达到PFS主要终点

Investment Rating - The industry rating is neutral, indicating that the overall return is expected to be between -5% and 5% relative to the CSI 300 index over the next six months [9]. Core Insights - Gilead's SG (TROP2 ADC) combined with Keytruda (K drug) has achieved a significant improvement in progression-free survival (PFS) compared to chemotherapy combined with Keytruda in the treatment of PD-L1+ triple-negative breast cancer (TNBC) [4][5]. - The ASCENT-04 study, a global phase III clinical trial, included 443 patients with untreated locally advanced or metastatic TNBC, demonstrating that the experimental group had a statistically and clinically significant extension in PFS [4]. - SG is expected to become the new standard for first-line treatment of mTNBC, with potential expansion into adjuvant and neoadjuvant settings [5]. Summary by Sections Sub-industry Ratings - Chemical Pharmaceuticals: No rating - Traditional Chinese Medicine: No rating - Biopharmaceuticals II: Neutral - Other Pharmaceuticals: Neutral [3]. Recommended Companies and Ratings - Specific company ratings were not provided in the report [3]. Market Competition - The first-line treatment market for PD-L1 negative TNBC is highly competitive, with major competitors including Dato, SKB264, and BL-B01D1 [6]. - SG has been approved for later-line TNBC and HR+/HER2- indications, with projected sales of $1.3 billion in 2024, reflecting a 24% year-over-year growth [6].