Pfizer Discontinues Five Clinical Programs Amid Pipeline Restructuring

On October 31, Pfizer announced its Q3 2023 financial results and updated its R&D pipeline. The company has terminated two Phase II clinical-stage projects (PF-06730512 and PF-07038124) and three Phase I clinical-stage projects (PF-07265028, PF-06647020, and PF-07257876).

PF-06647020 (ABBV-647) is an ADC drug targeting PTK7, intended for the development of solid tumors. The original research company of ABBV-647 was Stemcentrx, and the project was first favored by Pfizer. In 2016, AbbVie acquired Stemcentrx and obtained the development rights to ABBV-647. Since then, the clinical development of ABBV-647 has been advanced through a collaboration between AbbVie and Pfizer.

In August this year, AbbVie updated its pipeline, removing two ADC projects, including ABBV-011 and ABBV-647. Thus far, both AbbVie and Pfizer have terminated the clinical development plans for the ABBV-647 project.

PF-07257876 is a bispecific antibody targeting CD47/PD-L1. The Phase I study for treating advanced or metastatic solid tumors was completed on October 24. Possibly due to clinical results not meeting expectations, Pfizer terminated the clinical development of this project one week after the study ended.

PF-07265028 is a small molecule HPK1 inhibitor developed by Pfizer, intended for the treatment of solid tumors.

PF-06730512 is a ROBO2-Fc fusion protein. Previously, the Phase II study of this drug for the treatment of focal segmental glomerulosclerosis was terminated by Pfizer in 2022 due to insufficient efficacy.

PF-07038124 is a potent topical PDE4 inhibitor, with previously developed indications including atopic dermatitis (Phase II) and plaque psoriasis (Phase II).

Notably, on October 13, Pfizer reduced its 2023 revenue forecast by $9 billion and announced a company-wide cost-cutting initiative expected to achieve targeted savings of at least $3.5 billion.

To cut costs, Pfizer has begun its layoff plan. According to foreign media reports and New Jersey's Worker Adjustment and Retraining Notification (WARN), Pfizer will lay off 791 employees in Gladstone, New Jersey, with the layoffs expected to take effect in February 2024. Previously, Pfizer had already implemented layoffs at its branches in Illinois and Colorado.

Copyright © 2023 PHARMCUBE. All Rights Reserved.

Welcome to forward, share, and reasonably cite. When citing, please clearly indicate the source of the article; if you need to reprint, please leave a message to the WeChat Official Account backend or send a message, and specify the name and ID of the official account.

Disclaimer: The information in this WeChat article is for general reference only and should not be used directly as decision-making content. PharmaCube assumes no responsibility for any loss incurred by any party due to the use of the content herein.