Amgen (AMGN) Citi’s 2026 Virtual Oncology Leadership Summit summary

Strategic oncology R&D priorities

• Focus on delivering transformative therapies, not marginal benefits, in both solid tumors and select hematological malignancies.

• Two main pillars: T-cell engagers and precision small molecule therapies, with selective exploration of ADCs.

• Long-term investment in T-cell engagers, with unique approvals in both hematological and solid tumors.

• Selective external investments to complement internal pipeline and priorities.

• Emphasis on leveraging in-house technology and data platforms, including deCODE and BiTE.

Product portfolio and clinical development

• IMDELLTRA fully approved for second-line or later small cell lung cancer, with updated NCCN guidelines and broad U.S. adoption.

• Multiple phase III trials for IMDELLTRA in various small cell lung cancer settings, aiming to expand indications.

• Ongoing efforts to improve patient and provider convenience, including subcutaneous formulations and less frequent dosing.

• LUMAKRAS expanding from lung to colorectal cancer, with promising combination data and ongoing phase III trials in earlier lines.

• BLINCYTO advancing to earlier therapy lines and subcutaneous formulations, with potential expansion into autoimmune diseases.

Pipeline innovation and differentiation

• Xaluritamig targets prostate cancer with a novel mechanism, aiming for broad patient eligibility and chemo-free regimens.

• Phase III trials for xaluritamig focus on survival endpoints and address both pre- and post-taxane settings.

• Early-stage studies for xaluritamig in neoadjuvant, biochemical recurrence, and hormone-sensitive prostate cancer.

• Ewing sarcoma targeted due to high unmet need and strong biological rationale.

• AMG 193 developed for MTAP-null tumors, with focus on lung and GI cancers and combination strategies.