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A combo that’s punching above its weight
Inhibrx Biosciences is having one of those rare biotech days where the chart goes up and the science looks interesting enough to justify it. The company said interim Phase 2 data from its HexAgon study showed INBRX-106, paired with Merck’s Keytruda, delivered a 44% confirmed objective response rate in head and neck cancer — well ahead of the 21.4% control group.
That’s the kind of delta that makes investors sit up a little straighter. Not because it guarantees a future blockbuster, but because it suggests the drug combo may actually be doing something meaningful instead of just looking good in a slide deck.
Why the market cares
The company also said responders saw deeper tumor shrinkage overall, with most target lesions shrinking by more than 50%. And this wasn’t just a couple of lucky flips of the coin: three patients achieved a complete radiographic response, which is the sort of phrase biotech traders love to hear before lunch.
For shareholders, the bigger question is whether this can translate into a cleaner path forward:
- progression-free survival data are expected in Q4 2026
- the Phase 3 portion is slated to start in Q3 2026
- a perioperative non-small cell lung cancer study is expected to kick off later this quarter
The pipeline treadmill continues
Inhibrx isn’t treating this as a one-trick pony. The company is already talking about expanding INBRX-106 into broader checkpoint-inhibitor combo studies, plus newer shots at vaccines, T-cell engagers, and CAR-T therapy combinations.
That’s classic biotech behavior: one promising signal, then suddenly the molecule is expected to do five jobs and cook dinner.
Big picture: this is still early-stage cancer data, not a victory lap. But if these response rates hold up, INBRX-106 could have enough credibility to keep the pipeline moving — and keep investors paying attention.