Phase II NSCLC combination study to advance into second stage

Lighthouse | 26 June 2018

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  • The Phase II trial in NSCLC with bemcentinib (the selective, oral Axl inhibitor) in combination with pembrolizumab (Keytruda) has met the pre-specified efficacy endpoint for stage 1 and will advance into stage 2.
  • The efficacy target for stage 1 of the trial was for at least four patients to achieve clinical responses (partial or complete) out of the first 22 patients treated; there have so far been four partial responses (PR; the number of clinical responses could increase as some patients are still receiving bemcentinib and pembrolizumab).
  • To date 24 patients have taken part in the trial; in the second stage, 24 more patients will be treated with no changes to the clinical trial protocol.
  • Preliminary, interim results from the trial were presented at ASCO, the most interesting aspect of the data was that of the seven PD-L1 negative patients, two had achieved PR and four had stable diseases.
  • The initial data also suggested that expression of the Axl receptor could be used as a biomarker to identify those patients likely to respond to treatment with bemcentinib.
  • There are currently six ongoing Phase II trials with bemcentinib in various oncology indications and settings.

Trinity Delta view: The achievement of the pre-specified endpoint for stage 1 of the NSCLC trial marks an important milestone, confirming the potential of bemcentinib in immuno-oncology.

The results from all of the Phase II studies, which were published during ASCO, are still interim data, but there is a growing body of evidence that bemcentinib is extremely well tolerated and appears to have promising efficacy in various oncology indications when Axl is expressed by the tumour.

Our current valuation of BerGenBio is NOK2,880m ($339m) or NOK52.65 per share. More data from the various trials will be presented at medical conferences in the coming months, which could act as share price catalysts.


26 June 2018

Price (NOK)39.90
Market Cap (NOKm)2,183
Primary exchangeOslo
Company CodeBGBIO
Corporate clientYes

Company description

BerGenBio is a clinical-stage, drug development company based in Bergen, Norway and Oxford, UK. It is developing innovative anti-cancer therapies that act on the promising Axl signalling pathway. The lead oncology compound, BGB324, is in a number of Phase II trials.


Mick Cooper PhD
+44 (0) 20 3637 5042

Lala Gregorek
+44 (0) 20 3637 5043


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