HomeMost PopularInvestingGame-Changing Results: GSK's Blenrep Triumphs in Fighting Multiple Myeloma

Game-Changing Results: GSK’s Blenrep Triumphs in Fighting Multiple Myeloma

Actionable Trade Ideas

always free

GSK plc has delivered groundbreaking news, scoring big in the battle against relapsed/refractory multiple myeloma. The phase III DREAMM-7 study, investigating the anti-BCMA therapy, Blenrep (belantamab mafodotin), showed a resounding success by meeting its primary endpoint of progression-free survival (PFS).

In the world of oncology, the data speaks for itself – the study illustrated that using Blenrep in combination with bortezomib plus dexamethasone (BorDex) has outperformed the current standard of care regimen, daratumumab plus BorDex, in extending the time to disease progression or death.

But the good news doesn’t stop there – the study also unveiled a strong and clinically meaningful overall survival (OS) trend, and GSK is now eagerly looking ahead to present these exceptional findings at an imminent medical conference.

This astounding achievement has also translated into a 1.9% rise in GSK’s share price this year, a stark contrast to the industry’s decline of 22.7%. The future looks brighter than ever for the company.

Zacks Investment ResearchImage Source: Zacks Investment Research

GSK’s Hurdles and Triumphs

Blenrep’s journey has been tumultuous. Although it was granted accelerated approval as a monotherapy for relapsed or refractory multiple myeloma patients in the U.S. in 2020, its final approval was contingent upon a confirmed clinical benefit from a randomized phase III study. However, GSK hit a roadblock in November 2022 when its DREAMM-3 study failed to meet the FDA’s Accelerated Approval regulations, leading to the withdrawal of Blenrep’s sales from the U.S. market.

But despite this setback, GSK remains undeterred, with additional studies progressing within the DREAMM clinical trial program. The ongoing DREAMM-8 phase III study is evaluating Blenrep’s potential in combination with pomalidomide and dexamethasone versus bortezomib in combination with pomalidomide and dexamethasone, with the results expected in the second half of 2024.

While Blenrep has also secured approval in Europe, its sales have taken a hit due to its absence from the U.S. market, resulting in a sharp 67% plunge at constant exchange rates in the first nine months of 2023.

Optimistic Future and Stocks to Look Out For

In the midst of this rollercoaster ride, GSK maintains a Zacks Rank #3 (Hold). However, the healthcare sector is still rife with opportunities. Companies such as CytomX Therapeutics, Inc. CTMX, Ligand Pharmaceuticals Incorporated LGND, and Puma Biotechnology, Inc. PBYI, each carrying a Zacks Rank #1 (Strong Buy), are paving the way for potential growth.

Recent estimations for these companies indicate a positive trajectory, with impressive improvement in earnings per share (EPS) estimates. Investors are keeping a close eye on these stocks, as they showcase promising signs of delivering substantial returns in the future.

Zacks Names #1 Semiconductor Stock

It’s only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, it’s positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

See This Stock Now for Free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report

Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report

Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report

CytomX Therapeutics, Inc. (CTMX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.