By Adria Calatayud
BARCELONA (Dow Jones) — Positive data from a clinical study on a drug combination from Roche against lung cancer have boosted the shares of the Swiss pharmaceutical company. At 11:45 a.m., the share was up 4.9 percent at 265.40 Swiss francs. If this surge holds through the close, it would be the biggest one-day percentage gain in Roche shares since November 2020, according to data from Factset.
In a phase 3 study, patients who received the immunotherapy tiragolumab in combination with the antibody Tecentriq showed an estimated median overall survival of 22.9 months – compared to 16.7 months for those who received Tecentriq alone, Roche said with, but warned that these are only interim results.
Roche is well on the way to offering a treatment for lung cancer with a significant advantage, Citi analysts write in a research note. However, the weak data from the study arm, which received only Tecentriq, could diminish the commercial impact because Roche failed to repeat the median survival rate that the drug had shown in a previous study, according to Citi.
Roche provided an update on the study after analytical data accidentally became public. The ongoing study will remain blinded to patients and investigators will continue to work until the final analysis of overall survival is complete, the company said. Finally, earnings are expected to be released in December, Citi wrote.
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DJG/DJN/rio/cbr
(END) Dow Jones Newswires
August 23, 2023 06:29 ET (10:29 GMT)
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