Roche has inadvertently disclosed positive results from a closely watched lung cancer drug study, sending shares in the Swiss pharma group up as much as 5 per cent.
An interim analysis that the company published accidentally on its website showed the immunotherapy drug tiragolumab, when taken with the commonly used antibody medicine Tecentriq, increased overall survival time for patients.
The data, discovered by an equity analyst, gave investors hope for the drug even though Roche warned that it is not yet “mature”.
Previous data from the same trial had shown that researchers missed another goal of showing a statistically significant difference in the growth of tumours.
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The late-stage trial involves 534 patients with advanced non-small cell lung cancer, a prevalent type of the disease.
The accidentally published data showed patients who took the new drug in conjunction with Tecentriq survived 22.9 months on average – substantially longer than 16.7 months for those who took only Tecentriq.
Umer Raffat, the Evercore analyst who found the presentation, said the data was “very good”.
Analysts at the life sciences-focused investment bank Leerink said the improvement was “clinically meaningful”. While Roche’s public comments had hinted at positive results, no detailed data had previously been in the public domain, they added.
Immunoncology – harnessing the power of the immune system to tackle cancer – has transformed the prospects of many patients over the past decade.
Patents on some of the biggest immunoncology drugs are set to expire before 2030, however, and drugmakers are searching for a future generation of more effective drugs to generate new sources of revenue.
The Leerink analysts added that the results could also be positive for other companies developing drugs with similar mechanisms, which are known as anti-TIGITs.
The drugs target a receptor that suppresses the immune system’s response to cancer. Researchers believe they will improve the effectiveness of other immunoncology drugs when both medicines are used together.
Shares in large pharma companies that are also developing anti-TIGITs rose. GSK was up 1.7 per cent in midday trading in London, while Merck and Gilead added 1.2 per cent and 0.9 per cent, respectively, in pre-market trading in New York.
Smaller biotech companies that are developing similar drugs rallied strongly. Arcus Biosciences soared 25 per cent and iTeos Therapeutics jumped 28 per cent in pre-market trading.
The Roche data showed tiragolumab was “well tolerated” by patients and the side effects were no worse than existing treatments.
The ongoing study is “blinded” to patients and the researchers, which is a way of reducing bias in such trials.
Shares in Roche increased 5.1 per cent to 265.95 Swiss francs (€279.32). – Copyright The Financial Times Limited 2023
