Roche Shares Climb After Interim Data Shows Survival Gain in Cancer Trial
August 23 2023 - 5:36AM
Dow Jones News
By Adria Calatayud
Shares in Roche Holding rose Wednesday after the company
released interim results from a late-stage clinical trial of a
combination of two of its drugs that showed a benefit for overall
survival in patients with lung cancer.
At 0851 GMT, Roche's nonvoting shares were up 4.5% at CHF264.35.
This would be the stock's biggest one-day percentage gain since
November 2020 if maintained until close, according to FactSet
data.
In a phase 3 trial, patients who received immunotherapy
tiragolumab in combination with antibody Tecentriq showed an
estimated median overall survival of 22.9 months, against 16.7
months for those who received Tecentriq alone, Roche said,
cautioning that the interim results weren't mature.
The trial is on track to show a significant overall-survival
benefit, Citi analysts said in a research note. However,
underwhelming data from the arm of the trial that received
Tecentriq could limit the commercial impact given that Roche failed
to replicate the median survival rate the drug had shown in a
previous trial, Citi said.
Roche provided the update on the trial after what it called an
inadvertent disclosure of analysis data. The study remains blinded
to patients and investigators is continuing until the final
analysis for overall survival has been completed, the company
said.
The final analysis of overall survival is expected to be
released in December, Citi said.
Roche in May last year said the lung-cancer trial hadn't met its
target for progression-free survival, which was the primary goal of
the study alongside overall survival.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
August 23, 2023 05:21 ET (09:21 GMT)
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