Platinum

Phase 3 TroFuse‑005 showed a 32% lower risk of death and 41% lower risk of progression or death, with a PDUFA target date of June 15, 2027.

Durable PFS and DOR not reached with immunotherapy combo; chemoimmunotherapy combo showed 62% ORR and 14.5‑month median DOR in first-line KRAS G12C NSCLC.

Sofe‑M plus bevacizumab produced a 79% confirmed objective response rate and 100% disease control in platinum‑sensitive ovarian cancer, with activity across FRα levels and prior PARPi exposure.

Phase 3 DeLLphi‑305: IMDELLTRA with durvalumab raised median OS to 21.1 vs 12.7 months, tripled PFS, and produced ~80% one‑year survival versus 53%.

Phase Ib BEHOLD‑1 reports durable responses and 11.1‑month median PFS at the selected phase III dose; safety predominantly haematologic with most grade ≥3 events.

Phase 3 intismeran combo improved recurrence‑free and distant metastasis‑free survival in resected stage IIB–IV melanoma; sac‑TMT and KEYNOTE‑C93 report pivotal endometrial cancer findings; >90 additional abstracts.

Adj. EBITDA +33% to €577m and margin 30.2%; revenues €1.9bn; Free Operating Cash Flow €295m; guidance upgraded to slightly above €1bn adj. EBITDA for FY2026.

Majority buy adds pyrometallurgical, hydrometallurgical and electrowinning tech to recover precious and critical metals from e‑waste, batteries, PV panels and mining tailings.

Strategy driving cash: free cash flow £168m (+163%); pro forma underlying operating profit +6% at constant PGM/FX. Catalyst sale £1,325m on track; Cormetech buy agreed; new PGM refinery 2027.

PGM prices surged; platinum hit record. 2026: deficits likely for platinum, ruthenium, iridium; palladium and rhodium may have small surpluses. Strong prices boost recycling; industrial demand firm.