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.
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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.
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