Nivolumab Plus Ipilimumab for Unresectable Hepatocellular Carcinoma in Early Real-World Clinical Practice: A Multicenter Analysis of Efficacy and Safety

Background/Objectives: To investigate early treatment outcomes, including tumor response, predictors of response, and safety of nivolumab plus ipilimumab (Nivo/Ipi) therapy for unresectable hepatocellular carcinoma (uHCC) in a multicenter setting. Methods: We conducted a retrospective analysis of 64 Japanese patients with uHCC who received Nivo/Ipi therapy at participating centers between July 2025 and April 2026. Treatment efficacy was assessed according to RECIST version 1.1, and adverse events (AEs) were evaluated using CTCAE version 5.0. Results: Among the 64 patients, 28 received first-line therapy, and 36 received later-line therapy. The median observation period was 5.4 months. The overall response rate (ORR) was significantly higher in the first-line group (60.7%) than in the later-line group (30.6%) (p = 0.016). ORRs according to CRAFITY score were 25.0% for score 0, 55.6% for score 1, and 53.8% for score 2. The ORR in patients with CRAFITY scores ≥1 was significantly higher than in patients with a CRAFITY score of 0 (55.0% vs. 25.0%; p = 0.022). Multivariable analysis of pretreatment variables predicting response revealed first-line treatment (OR 3.83, 95% CI 1.270–11.558; p = 0.017) and a CRAFITY score ≥1 (OR 4.02, 95% CI 1.232–13.106; p = 0.021) as significant independent factors. Immune-mediated AEs occurred in 70.3% of patients overall and were grade ≥3 in 35.9%. Conclusions: Nivo/Ipi yielded a favorable response when used as first-line therapy. The baseline CRAFITY score may be a useful predictor of response to Nivo/Ipi therapy.