Introduction: KEYNOTE-240 showed a favorable benefit/risk profile for pembrolizumab versus placebo in patients with sorafenib-treated advanced hepatocellular carcinoma (HCC); however, prespecified statistical significance criteria for overall survival (OS) and progression-free survival (PFS) superiority were not met at the final analysis. Outcomes based on an additional 18 months of follow-up are reported., Methods: Adults with sorafenib-treated advanced HCC were randomized 2:1 to pembrolizumab 200 mg intravenously every 3 weeks or placebo. Dual primary endpoints were OS and PFS assessed per RECIST v1.1 by blinded independent central review (BICR). Secondary endpoints included objective response rate (ORR), assessed per RECIST v1.1 by BICR, and safety., Results: 413 patients were randomized (pembrolizumab, n = 278; placebo, n = 135). As of July 13, 2020, median (range) time from randomization to data cutoff was 39.6 (31.7-48.8) months for pembrolizumab and 39.8 (31.7-47.8) months for placebo. Estimated OS rates (95% CI) were 17.7% (13.4-22.5%) for pembrolizumab and 11.7% (6.8-17.9%) for placebo at 36 months. The estimated PFS rate (95% CI) for pembrolizumab was 8.9% (5.3-13.6%) and 0% for placebo at 36 months. ORR (95% CI) was 18.3% (14.0-23.4%) for pembrolizumab and 4.4% (1.6-9.4%) for placebo. Immune-mediated hepatitis events did not increase with follow-up. No viral hepatitis flare events were reported., Conclusion: With extended follow-up, pembrolizumab continued to maintain improvement in OS and PFS and was associated with a consistent adverse event profile compared with placebo in patients with sorafenib-treated advanced HCC. Although KEYNOTE-240 did not meet prespecified statistical significance criteria at the final analysis, these results together with the antitumor activity of second-line pembrolizumab observed in KEYNOTE-224 and the statistically significant and clinically meaningful OS and PFS benefits of second-line pembrolizumab in patients from Asia observed in KEYNOTE-394 reinforce the clinical activity of pembrolizumab in previously treated patients with advanced HCC., Competing Interests: P. Merle reports receiving grants from Ipsen and other financial or non-financial interests for advisory board participation from Roche, AstraZeneca, Eisai, MSD, Ipsen, Eli Lilly, and Bayer. M. Kudo reports receiving support for the present manuscript from MSD, grants or contracts from Gilead Sciences, Taiho, Sumitomo Dainippon Pharma, Takeda, Otsuka, EA Pharma, AbbVie, and Eisai, payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from Eli Lilly, Bayer, Eisai, Chugai, Takeda, and MSD. J. Edeline reports no conflicts of interest. M. Bouattour reports receiving consulting fees from Roche, Eisai, AstraZeneca, Bayer, Ipsen, Sirtex Medical, Servier, MSD, payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from Roche, AstraZeneca, Bayer, Ipsen, Sirtex Medical, and Servier, and support for attending meetings and/or travel from Roche, AstraZeneca, Bayer, and Sirtex Medical. A-L. Cheng reports receiving consulting fees from Eisai, Ono Pharmaceutical, Ipsen Innovation, Bayer Healthcare, and Merck Sharp and Dohme, payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from F. Hoffmann-La Roche Ltd., Chugai Pharmaceutical, Bayer Yakuhin, Ltd., Novartis, Eisai, Ono Pharmaceutical, and Amgen Taiwan, support for attending meetings and/or travel from Bayer Yakuhin, Ltd., Eisai, and IQVIA, and participation on a data safety monitoring board or advisory board for Novotech. S.L. Chan reports receiving grants or contracts from Bayer, Ipsen, and Sirtex, consulting fees from AstraZeneca, Eisai, Ipsen, and MSD, and payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from AstraZeneca, Eisai, Roche, and MSD. T. Yau reports no conflicts of interest. M. Garrido reports receiving payment or honoraria for lectures, presentations, speaker’s bureaus, manuscript writing, or educational events from MSD, Bristol Myers Squibb, Roche, Pfizer, and Merck, payment for expert testimony from Bristol Myers Squibb, and support for attending meetings and/or travel from MSD. J. Knox reports receiving a grant for an investigator-initiated trial from Merck, consulting fees from Merck, Eisai, and AstraZeneca, and payment for expert testimony from Incyte and AstraZeneca. B. Daniele reports receiving payment or honoraria for lectures, presentations, speakers' bureaus, manuscript writing, or educational events from Eisai, Ipsen, Eli Lilly, Bayer, MSD, Roche, Amgen, Merck Serono, and AstraZeneca, support for attending meetings and/or travel from AstraZeneca, Sanofi, Celgene, and Bristol Myers Squibb, and participating in a data safety monitoring board or advisory board for Sanofi. V. Breder reports receiving consulting fees from Eisai, Novartis, and Bayer, honoraria for lectures, presentations, and educational events from Bristol Myers Squibb, Roche, Eisai, Ipsen, and Bayer, and support for attending meetings and/or travel from Bristol Myers Squibb, Ipsen, and Roche. H. Y. Lim reports receiving payment or honoraria for lectures, presentations, speaker’s bureaus, manuscript writing, or educational events from Roche, and participation on a data safety monitoring board or advisory board for Bayer, Eisai, and Roche. S. Ogasawara reports receiving grants or contracts from Bayer, AstraZeneca, Eli Lilly, Eisai, and Chugai, consulting fees from Chugai and AstraZeneca, and payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from Bayer, AstraZeneca, Eli Lilly, Eisai, Chugai, and MSD. S. Cattan reports no conflicts of interest. Y. Chao reports no conflicts of interest. A.B. Siegel is an employee of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA, and has stock in Merck & Co., Inc., Rahway, NJ, USA. I. M-Forero is an employee of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA, and has stock in Merck & Co., Inc., Rahway, NJ, USA. Z. Wei was an employee of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA at the time of the analysis. C-C. Liu is an employee of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA, and has stock in Merck & Co., Inc., Rahway, NJ, USA. R. S. Finn reports receiving support for the present manuscript from Merck, consulting fees and payment or honoraria for lectures, presentations, speakers’ bureaus, manuscript writing, or educational events from AstraZeneca, Bayer, Bristol Myers Squibb, CStone, Eisai, Exelixis, Eli Lilly, Pfizer, Merck, and Roche/Genentech, payment for expert testimony from Bayer AS, grants paid to his institution from Merck, Eisai, Pfizer, Bristol Myers Squibb, Roche/Genentech, Eli Lilly, Adaptimmune, and Bayer, stock/stock options from CStone, and reports participating on a data safety monitoring board or advisory board from AstraZeneca and Hengrui., (© 2023 The Author(s). Published by S. Karger AG, Basel.)