Inhibrx Biosciences reported that experimental INBRX-106 combined with Merck's Keytruda outperformed pembrolizumab monotherapy in a randomized Phase 2 study of treatment-naïve, PD-L1-positive patients with head and neck squamous cell carcinoma. Among 63 evaluable patients treated across more than 80 international sites, the combination produced a confirmed objective response rate of 48.3% versus 26.5% for Keytruda alone and median progression-free survival of 9.6 months versus 4.9 months. Four combination-treated patients achieved a complete response, compared with none in the control arm, while results were strongest in HPV-positive patients. Inhibrx plans to add approximately 50 HPV-positive patients and discuss a potential confirmatory Phase 3 study with the FDA. CEO Lappe Mark subsequently purchased 5,895 shares at $99.29 each. Shares later fell 12.49% to $106.03 at publication after an earlier update reported marginally higher premarket trading.