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Prof. Dr. Mustafa Özdoğan · Medical Oncologist

In HR-Positive Metastatic Breast Cancer, Pembrolizumab + Chemotherapy Slightly Delayed Progression but Did Not Extend Survival: KEYNOTE-B49

In HR-Positive Metastatic Breast Cancer, Pembrolizumab + Chemotherapy Slightly Delayed Progression but Did Not Extend Survival: KEYNOTE-B49
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Immunotherapy in Hormone Receptor-Positive Metastatic Breast Cancer: KEYNOTE-B49 Delayed Progression but Did Not Change Survival

In hormone receptor-positive, HER2-negative metastatic breast cancer, adding the immunotherapy drug pembrolizumab to chemotherapy delayed disease progression somewhat but did not extend survival. Results of the phase 3 KEYNOTE-B49 trial were presented as a late-breaking abstract (LBA51) at ESMO 2026. In 342 PD-L1-positive patients, median progression-free survival increased from 6.0 to 6.7 months (HR 0.74), while overall survival remained similar (21.0 vs 22.2 months; HR 1.04). We have previously covered pembrolizumab, new treatment options in hormone receptor-positive breast cancer and the ESMO 2026 agenda.

6.7 / 6.0 monthsmedian progression-free survival: pembrolizumab / placebo (HR 0.74)
15% / 4%patients progression-free at 24 months
HR 1.04overall survival: no difference (21.0 / 22.2 months)
11% / 5%discontinuation due to adverse events
Quick Answer · Physician Summary
  • What was found: In PD-L1-positive (CPS ≥1) HR-positive/HER2-negative metastatic breast cancer that progressed after endocrine therapy and a CDK4/6 inhibitor, pembrolizumab + chemotherapy produced a statistically significant improvement in progression-free survival (median 6.7 vs 6.0 months; HR 0.74; one-sided p=0.0089).
  • A small group with durable benefit: At 24 months, 15% vs 4% of patients were progression-free; in other words, most of the benefit took the form of long-term disease control in a small number of patients.
  • Survival did not change: There was no difference in overall survival (HR 1.04; 95% CI 0.81–1.33). Although the progression-free survival difference appeared larger in the PD-L1 CPS ≥10 subgroup (7.5 vs 4.4 months), overall survival was similar there as well.
  • More adverse events: Grade 3 or higher treatment-related adverse events occurred in 37.6% vs 32.7%, and discontinuation due to adverse events in 11.2% vs 5.4%. In their current form, the results are not practice-changing.

Why does this matter?

Hormone receptor-positive (HR-positive), HER2-negative breast cancer accounts for about 70% of all breast cancers. In metastatic disease, the backbone of treatment is endocrine therapy combined with CDK4/6 inhibitors. Over time, however, the disease develops resistance to endocrine therapy, and many patients eventually need chemotherapy or antibody–drug conjugates.

Immunotherapy combined with chemotherapy has become standard in triple-negative breast cancer. HR-positive breast cancer, by contrast, is considered immunologically "cold": there are few immune cells within the tumor, and PD-L1 expression is less common. In early-stage disease, preoperative immunotherapy had been shown to increase the pathological complete response rate; KEYNOTE-B49 was designed to answer whether this approach translates into longer survival in metastatic HR-positive disease.

Is this the first time immunotherapy has been tried in HR-positive breast cancer?

No. Results so far have been limited:

2018
KEYNOTE-028
In heavily pretreated, PD-L1-positive, ER-positive patients, pembrolizumab alone achieved a response rate of only 12%.
2020
Eribulin ± pembrolizumab (phase 2)
In metastatic HR-positive disease, adding pembrolizumab did not improve progression-free survival.
2023–2025
KEYNOTE-756 and CheckMate 7FL
In high-risk early-stage ER-positive breast cancer, adding immunotherapy to preoperative chemotherapy increased the pathological complete response rate.
October 2026
KEYNOTE-B49
A progression-free survival benefit was shown at the phase 3 level in metastatic HR-positive disease, but overall survival did not change (ESMO 2026, LBA51).

What did the KEYNOTE-B49 trial show?

KEYNOTE-B49 is a phase 3 trial comparing the addition of pembrolizumab versus placebo to chemotherapy in PD-L1-positive HR-positive/HER2-negative metastatic breast cancer that progressed after endocrine therapy. Pembrolizumab improved progression-free survival significantly but modestly (6.7 vs 6.0 months) and provided long-term disease control in a small number of patients; however, it did not improve overall survival and increased adverse events.

How was the trial conducted?

Feature Details
Design Phase 3, randomized (1:1), double-blind, placebo-controlled (NCT04895358)
Patients Inoperable locally recurrent or metastatic HR-positive/HER2-negative breast cancer; PD-L1 CPS ≥1 by central laboratory; progression after endocrine therapy; no prior chemotherapy for metastatic disease; 342 patients (171 vs 171)
Prior treatment Nearly all patients (99%) had previously received a CDK4/6 inhibitor
Pembrolizumab arm Pembrolizumab 200 mg every 3 weeks, up to 35 cycles (about 2 years) + investigator's choice of chemotherapy
Control arm Placebo + investigator's choice of chemotherapy
Chemotherapy options Paclitaxel, nab-paclitaxel, liposomal doxorubicin or capecitabine
Primary endpoints Progression-free survival by blinded independent central review and overall survival in the CPS ≥1 population
Follow-up Median 29.1 months (progression-free survival analysis) and 34.9 months (final analysis)

The trial was originally planned with about 800 patients; however, because PD-L1 positivity proved less common than expected in HR-positive breast cancer, a protocol amendment reduced the sample size to 342.

Figure 1 · Design of the KEYNOTE-B49 trial

Adding pembrolizumab or placebo to chemotherapy in PD-L1-positive patients

HR-positive/HER2-negative metastatic breast cancerprogression after endocrine therapy and a CDK4/6 inhibitorPD-L1 CPS ≥1 · 342 patients · 1:1 randomization pembrolizumab (171)every 3 weeks, for up to2 yearsplus chemotherapy placebo (171)every 3 weeksplus chemotherapy primary endpointsprogression-free survival: HR 0.74 (significant)overall survival: HR 1.04 (no difference)
How to read it: Patients whose disease progressed after endocrine therapy and whose tumors were PD-L1-positive were randomly assigned to two groups to receive pembrolizumab (left) or placebo (right) in addition to chemotherapy. The chemotherapy was chosen by the investigator. The bottom box shows the two primary endpoints.

Results

Progression-free survival

KEYNOTE-B49: median progression-free survival

Months. Colored bar: pembrolizumab + chemotherapy; gray bar: placebo + chemotherapy (342 patients).

PD-L1 CPS ≥1 · pembrolizumab
6.7 mo
PD-L1 CPS ≥1 · placebo
6.0 mo
PD-L1 CPS ≥10 · pembrolizumab
7.5 mo
PD-L1 CPS ≥10 · placebo
4.4 mo

CPS ≥1 (primary analysis): HR 0.74 (95% CI 0.58–0.95; one-sided p=0.0089). CPS ≥10: HR 0.59 (95% CI 0.35–0.98); small, exploratory subgroup.

In the PD-L1 CPS ≥1 population, median progression-free survival was 6.7 months in the pembrolizumab arm and 6.0 months in the placebo arm (HR 0.74; 95% CI 0.58–0.95; one-sided p=0.0089). This corresponds to an approximately 26% reduction in the risk of disease progression; however, the difference in median times is only about 3 weeks. In patients with PD-L1 CPS ≥10, the difference appears larger (7.5 vs 4.4 months; HR 0.59), but this subgroup is small and was not part of the prespecified formal statistical testing.

KEYNOTE-B49: patients remaining progression-free over time

Percent, PD-L1 CPS ≥1. Each bar represents 100 patients.

Month 12 · pembrolizumab

26%
74%

Month 12 · placebo

20%
80%

Month 24 · pembrolizumab

15%
85%

Month 24 · placebo

96%
progression-free · pembrolizumabprogression-free · placebodisease progression or loss of life

At 24 months, 4.3% of patients in the placebo arm were progression-free. Although the difference in medians is small, long-term disease control was achieved in a small number of patients.

Although the medians show a small difference, the tails of the curves tell a different story: at 24 months, 15% of patients in the pembrolizumab arm and 4% in the placebo arm were still progression-free. This suggests that immunotherapy can provide long-term disease control in a small number of patients with HR-positive breast cancer as well, but that there is not yet a biomarker able to identify these patients in advance.

Overall survival

KEYNOTE-B49: median overall survival

Months. Colored bar: pembrolizumab + chemotherapy; gray bar: placebo + chemotherapy (342 patients).

PD-L1 CPS ≥1 · pembrolizumab
21.0 mo
PD-L1 CPS ≥1 · placebo
22.2 mo
PD-L1 CPS ≥10 · pembrolizumab
22.9 mo
PD-L1 CPS ≥10 · placebo
22.5 mo

CPS ≥1: HR 1.04 (95% CI 0.81–1.33; p=0.62). CPS ≥10: HR 0.82 (95% CI 0.47–1.43; 36 patients per arm). The differences are not significant. Final analysis, median follow-up 34.9 months.

In the final analysis, median overall survival was 21.0 months in the pembrolizumab arm and 22.2 months in the placebo arm (HR 1.04; 95% CI 0.81–1.33; p=0.62). There was no difference in the CPS ≥10 subgroup either (22.9 vs 22.5 months; HR 0.82; 36 patients per arm). In other words, the delay in progression did not translate into a survival gain.

Safety

KEYNOTE-B49: safety

Percent. Red bar: pembrolizumab + chemotherapy; gray bar: placebo + chemotherapy.

Grade 3+ treatment-related adverse events · pembrolizumab
37.6%
Grade 3+ treatment-related adverse events · placebo
32.7%
Discontinuation due to adverse events · pembrolizumab
11.2%
Discontinuation due to adverse events · placebo
5.4%

Pembrolizumab can cause immune-mediated adverse events (thyroid, lung, bowel, liver, skin); some may be permanent.

Grade 3 or higher treatment-related adverse events were more frequent in the pembrolizumab arm (37.6% vs 32.7%), and the rate of discontinuation due to adverse events doubled (11.2% vs 5.4%). Pembrolizumab can cause immune-mediated adverse events in organs such as the thyroid gland, lungs, bowel, liver and skin (side effects of immunotherapy); some of these, such as thyroid or pituitary insufficiency, may be permanent. Less often, the kidneys may also be affected.

How should the results be interpreted?

Strengths

  • Double-blind, placebo-controlled phase 3 design; progression-free survival was assessed by blinded independent central review.
  • It reflects today's patient population: nearly all patients had previously received a CDK4/6 inhibitor.
  • PD-L1 was assessed by a central laboratory, and the chemotherapy options reflected routine practice.
  • The overall survival result was reported clearly, even though it was negative.

Points to keep in mind

  • No survival benefit: In metastatic disease, a small gain in progression-free survival has limited clinical value if it does not translate into longer survival while adverse events increase.
  • The absolute difference is small: The difference in median progression-free survival is about 3 weeks.
  • Reduced sample size: Far fewer patients were enrolled than planned, which limits the power of subgroup analyses in particular.
  • CPS ≥10 subgroup: The seemingly larger benefit rests on a small, exploratory analysis; no interaction analysis by PD-L1 level was reported.
  • Subsequent treatments: Effective later-line treatments such as antibody–drug conjugates may have masked an overall survival difference.
  • Source limitations: Response rate, duration of response and details of immune-mediated adverse events have not yet appeared in a peer-reviewed publication.

What does this mean in practice?

  • The standard does not change: In HR-positive/HER2-negative metastatic breast cancer after endocrine therapy and CDK4/6 inhibitors, the main options for suitable patients remain targeted therapies, new endocrine therapy combinations, chemotherapy, and antibody–drug conjugates such as sacituzumab govitecan or trastuzumab deruxtecan.
  • Immunotherapy should not be routinely added to chemotherapy: Because no survival benefit was shown and adverse events increased, this combination is not recommended in HR-positive disease based on current data.
  • The right patients need to be identified: The difference at 24 months suggests that some patients derive clear benefit from immunotherapy. The value of biomarkers such as high PD-L1, tumor-infiltrating lymphocyte density, the basal-like molecular subtype or high tumor mutational burden should be investigated.
  • Early-stage disease is a separate question: The role of preoperative immunotherapy in high-risk early-stage ER-positive disease will become clearer with event-free survival results; this finding in metastatic disease cannot be directly extrapolated to the early-stage setting.
The situation in Turkey

Pembrolizumab is a licensed drug in Turkey; however, it has no approved indication and no reimbursement from SGK (the Turkish Social Security Institution) in HR-positive/HER2-negative breast cancer. In breast cancer, its use is limited to triple-negative disease, and reimbursement is subject to separate rules (SGK criteria for immunotherapy). No new approval or reimbursement is expected in HR-positive disease based on the results of this trial. PD-L1 CPS testing can be performed in pathology laboratories.

Practical advice for patients and families

  • If you have HR-positive metastatic breast cancer (metastatic breast cancer treatment), be aware that immunotherapy is not currently a standard option for you; a "positive result" in the news does not mean that survival was extended.
  • If your disease has progressed after endocrine therapy and a CDK4/6 inhibitor, ask whether your tumor has been tested for alterations such as ESR1, PIK3CA and AKT1 and for HER2 level; these determine which targeted therapies may be suitable for you (beyond CDK4/6 inhibitors).
  • While receiving chemotherapy, contact your care team right away if you develop symptoms such as fever, diarrhea or shortness of breath (chemotherapy and fever).
  • If you have the opportunity to join a clinical trial that includes immunotherapy, you can discuss it with your care team and, if needed, seek a second opinion.
  • Exercise and rehabilitation during treatment can support your quality of life.

Frequently asked questions

Does immunotherapy work in hormone receptor-positive breast cancer?
To a limited extent. In the KEYNOTE-B49 trial, adding pembrolizumab to chemotherapy in PD-L1-positive, hormone receptor-positive metastatic breast cancer extended progression-free survival from 6.0 to 6.7 months and provided long-term disease control in a small number of patients; however, it did not extend survival and increased adverse events.
Will the KEYNOTE-B49 results change the standard of care?
Not in their current form. Because there is no overall survival benefit, the absolute difference is small and adverse events increase, pembrolizumab + chemotherapy is not expected to enter routine use in HR-positive/HER2-negative metastatic breast cancer.
Is immunotherapy more effective when PD-L1 is high (CPS ≥10)?
The progression-free survival difference appears larger in this group (7.5 vs 4.4 months), but overall survival is similar and the subgroup is small (36 patients per arm). It is therefore not sufficient to draw a firm conclusion.
Can pembrolizumab be used for hormone receptor-positive breast cancer in Turkey?
Pembrolizumab is licensed in Turkey, but it has no approved indication and no SGK reimbursement in hormone receptor-positive/HER2-negative breast cancer. In breast cancer, its use is limited to triple-negative disease.

Glossary

HR-positive/HER2-negative breast cancer
The most common type of breast cancer, in which the cells carry hormone (estrogen and/or progesterone) receptors and do not overproduce the HER2 protein.
Pembrolizumab
An immunotherapy drug that releases the PD-1 brake that prevents the immune system from recognizing cancer cells.
PD-L1 and CPS
PD-L1 is a protein that helps the tumor evade the immune system; CPS (combined positive score) is a score measuring PD-L1 expression on tumor and immune cells.
Progression-free survival
The time after the start of treatment during which the disease does not grow and there is no loss of life.
Overall survival
The length of time a patient lives after the start of treatment; the most important measure in metastatic disease.
Hazard ratio (HR)
The ratio of event rates in two groups; a value below 1 favors the new treatment, and a value close to 1 indicates no difference.
CDK4/6 inhibitor
Oral drugs that slow cell division, used together with endocrine therapy in hormone receptor-positive breast cancer (palbociclib, ribociclib, abemaciclib).

DROZDOGAN Academy Commentary

KEYNOTE-B49 is an instructive trial that shows the difference between "statistically significant" and "clinically meaningful." Progression was delayed somewhat, but patients' survival did not change.

⚡ Why it matters

HR-positive breast cancer is the most common type of breast cancer, and whether immunotherapy has a role in this group has been debated for years. In its current form, this trial makes it clear that immunotherapy is not a routine option in metastatic HR-positive disease.

✅ Strengths

Double-blind, placebo-controlled design, a contemporary patient population after CDK4/6 inhibitors, central PD-L1 assessment and transparent reporting of the negative overall survival result.

⚠️ Limitations

The sample size was reduced to less than half of what was planned; the difference in median progression-free survival is about 3 weeks; the CPS ≥10 findings are exploratory. The response rate and details of immune-mediated adverse events have not yet been published.

🩺 In practice

Do not routinely add immunotherapy to chemotherapy in HR-positive/HER2-negative metastatic breast cancer. For progression after endocrine therapy, prioritize targeted therapies guided by molecular testing and antibody–drug conjugates. Consider immunotherapy within the framework of a clinical trial.

❓ Open questions

Who are the 15% of patients who remained progression-free for 24 months? Can we select these patients in advance using biomarkers such as molecular subtype, tumor-infiltrating lymphocytes or circulating tumor DNA? Could immunotherapy be more effective in combination with antibody–drug conjugates?

Bottom line: KEYNOTE-B49 does not completely close the door on immunotherapy in HR-positive metastatic breast cancer, but it does not open it for routine use either. The future lies in correctly identifying the small group of patients who will benefit over the long term.

Transparency note
  • This article was prepared in October 2026.
  • The data are based on congress reports and abstracts of the ESMO 2026 presentation (LBA51); the full peer-reviewed publication was not available. Because the response rate and detailed rates of immune-mediated adverse events were not included in these sources, they have not been included in this article.
  • Information on the approval and reimbursement status in Turkey reflects the general situation; the current status should be confirmed.
  • The comparisons in the charts are between the arms of the same trial. The diagram is derived from the text and contains no new data. The Academy commentary is our own.

References

  1. Rugo HS, et al. KEYNOTE-B49: pembrolizumab plus chemotherapy versus placebo plus chemotherapy for HR+/HER2− locally recurrent inoperable or metastatic breast cancer. ESMO Congress 2026, LBA51.
  2. KEYNOTE-B49 trial: immunotherapy in HR+/HER2− breast cancer. OncoDaily, October 24, 2026. oncodaily.com
  3. KEYNOTE-B49 at ESMO 2026: can immunotherapy find a role in HR+/HER2− breast cancer? OncoDaily, October 10, 2026. oncodaily.com
  4. Merck showcases first-time pivotal phase 3 results from oncology pipeline at ESMO 2026. Merck, October 2026. merck.com
  5. ClinicalTrials.gov. KEYNOTE-B49 (NCT04895358). clinicaltrials.gov
  6. Cardoso F, McArthur HL, Schmid P, et al. Pembrolizumab and chemotherapy in high-risk, early-stage, ER+/HER2− breast cancer: a randomized phase 3 trial (KEYNOTE-756). Nat Med 2025. nature.com
  7. Rugo HS, Delord JP, Im SA, et al. Safety and antitumor activity of pembrolizumab in patients with estrogen receptor-positive/HER2-negative advanced breast cancer (KEYNOTE-028). Clin Cancer Res 2018;24:2804-2811. doi.org
  8. Tolaney SM, Barroso-Sousa R, Keenan T, et al. Effect of eribulin with or without pembrolizumab on progression-free survival for patients with hormone receptor-positive, ERBB2-negative metastatic breast cancer: a randomized clinical trial. JAMA Oncol 2020;6:1598-1605. doi.org
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