Truist says BioNTech posts wins in small cell lung cancer, ‘327 in pole position

Truist notes that new data for BioNTech’s (BNTX) BNT327 in Small Cell Lung Cancer presented at World Lung today was very reassuring on two major counts, namely it confirmed that the treatment effect seen in China was replicated in a global study, and BioNTech was able to transition the dose from Q2W to an equivalent Q3W for the global development effort of BNT327. Truist points out that BioNTech and partner Bristol-Myers Squibb (BMY) are leading the race among the PD-(L)1 x VEGF bispecifics in SCLC, with a Phase 3 study underway. The firm projects a launch in 2028, and sees this as a potential $1.4B revenue opportunity for the drug. BofA has a Buy rating on BioNTech with a price target of $155 on the shares.