GSK: shares rise on positive myeloma results

(CercleFinance.com) - GSK shares climbed on the London Stock Exchange on Thursday, proving to be one of the biggest risers, following the publication of positive clinical results in multiple myeloma.


According to preliminary results from the phase III study, the antibody-conjugate Blenrep combined with PomDex, a standard treatment for the disease, showed a 'statistically significant' and 'clinically relevant' improvement in progression-free survival compared with existing therapies.

As a result of this encouraging data, the trial's independent monitoring committee has decided to unblind the trial, meaning that the identity of the drug will be disclosed to participants.

For UBS analysts, these findings are likely to breathe new life into the Blenrep franchise, paving the way for a potential return to the US market.

Blenrep was initially granted fast-track status in the US for the treatment of heavily-treated myeloma patients, but had to abandon plans to bring it to market after the failure of a confirmatory study, the broker says.

UBS now sees a 90% probability of commercialization, with annual sales of up to $200m.

In early afternoon trading, GSK shares were up 2.5%, while the FTSE index was virtually flat.


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