Highlights

  • Amplia Therapeutics signed a clinical collaboration with Eli Lilly to evaluate narmafotinib in lung cancer.
  • The planned Phase 1b/2b trial will assess narmafotinib with olomorasib in advanced non-small cell lung cancer.
  • Amplia’s ACCENT pancreatic cancer trial reported a response rate of approximately 36% and median overall survival of around 11.1 months.
  • The company continues progressing registration-enabling development activities for narmafotinib.

Amplia Therapeutics (ASX:ATX) is expanding the development pathway for narmafotinib, its targeted cancer drug candidate, through a new lung cancer collaboration while continuing its pancreatic cancer program. The clinical-stage biotechnology company is evaluating whether its FAK inhibitor can improve outcomes when combined with other cancer treatments.

At the time of writing on 14 August 2026, Amplia Therapeutics (ASX:ATX) was trading at AUD 0.14, unchanged on the day.

The company’s focus is now extending beyond pancreatic cancer, with the Eli Lilly collaboration adding a second clinical pathway for narmafotinib development.

What Just Happened?

On 4 August 2026, Amplia announced a Clinical Trial Collaboration and Supply Agreement with Eli Lilly to evaluate narmafotinib in combination with olomorasib, Lilly’s KRAS G12C inhibitor.

The planned study is a Phase 1b/2b trial targeting patients with advanced non-small cell lung cancer in the second-line setting. Amplia will conduct the study, while Lilly will provide olomorasib in-kind.

The trial is expected to operate across clinical sites in Australia and the United States and is planned to begin in late 2026.

The collaboration builds on Amplia’s existing pancreatic cancer program, where its ACCENT trial reported a response rate of approximately 36% and median overall survival of around 11.1 months.

Why It Matters

The Lilly collaboration expands narmafotinib’s potential development pathway beyond pancreatic cancer and introduces a second cancer indication. The agreement also provides external involvement in the clinical program, with Lilly contributing its investigational compound for combination testing.

The scientific rationale is based on the potential interaction between FAK inhibition and KRAS G12C inhibition. Amplia is evaluating whether blocking FAK activity may help address resistance mechanisms that can develop in tumours treated with KRAS-targeted therapies.

The pancreatic cancer results provide the foundation for continued development, while the lung cancer program provides an additional opportunity to evaluate narmafotinib in a broader oncology setting.

However, both programs remain at clinical development stages, and future outcomes depend on trial execution and results.

The Bigger Picture

Amplia’s strategy centres on narmafotinib, also known as AMP945, a focal adhesion kinase (FAK) inhibitor designed to target mechanisms involved in tumour growth and the surrounding tumour environment.

The company is developing narmafotinib primarily in combination with gemcitabine and Abraxane for advanced pancreatic cancer. The drug has received Orphan Drug and fast-track designations from the United States Food and Drug Administration.

In May 2026, Amplia commenced the first stage of a registration-enabling Phase 2b pancreatic study designed to evaluate a daily dosing approach, beginning with a safety and pharmacokinetic assessment before broader expansion.

As a clinical-stage biotechnology company, Amplia does not generate product Revenue and relies on Capital Markets and partnerships to support development activities. The Lilly collaboration allows the company to explore a new indication while sharing some development requirements.

What Could Drive the Shares Next?

The commencement of the Lilly-supported lung cancer trial, expected in late 2026, represents a key upcoming milestone. Investors will monitor trial initiation, enrolment progress and any clinical data generated from the program.

Progress in the registration-enabling pancreatic study will also remain important, particularly safety and pharmacokinetic results from the early study phase.

Further maturation of ACCENT pancreatic cancer data may provide additional insight into narmafotinib’s potential. Additional partnerships, regulatory developments or licensing discussions could also influence market expectations.

Funding requirements will remain an area of focus as Amplia continues advancing multiple clinical programs.

Risks Investors Should Watch

Amplia faces risks associated with clinical development, funding requirements and regulatory approval. Narmafotinib remains an investigational drug candidate, and early-stage clinical results may not translate into successful outcomes in larger studies. Combination trials introduce additional safety and development complexities. As a pre-revenue biotechnology company, Amplia depends on external funding, creating potential dilution risks. The Lilly collaboration does not guarantee commercial outcomes or regulatory approval. Additional risks include trial delays, regulatory decisions and share price Volatility associated with biotechnology companies.

Bottom Line

Amplia Therapeutics (ASX:ATX) has expanded the development pathway for narmafotinib through a collaboration with Eli Lilly focused on lung cancer, while continuing its pancreatic cancer program.

The company’s strategy now includes multiple clinical opportunities for its FAK inhibitor, supported by ACCENT trial data and ongoing registration-enabling studies. The next phase will depend on clinical execution, trial outcomes, funding management and regulatory progress.

While the Lilly collaboration broadens the potential application of narmafotinib, the company remains a clinical-stage biotechnology Business where future value depends on successful development milestones.