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GSK reports promising phase III trial results for depemokimab

Published 15/10/2024, 18:50
GSK
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GSK plc (LSE/NYSE: LON:GSK) has announced positive outcomes from its phase III ANCHOR trials for depemokimab, a treatment for chronic rhinosinusitis with nasal polyps (CRSwNP). According to the press release, the trials met their primary endpoints, showing a significant reduction in nasal polyp size and nasal obstruction compared to placebo plus standard of care over 52 weeks.

Depemokimab, an ultra-long-acting biologic administered semi-annually, has shown promise in targeting and suppressing inflammation associated with nasal polyp growth and obstruction.

Kaivan Khavandi, SVP at GSK, highlighted the potential benefits for patients suffering from CRSwNP, often characterized by high corticosteroid exposure and recurrent nasal polyps post-surgery.

The trials recorded similar incidences of adverse events between depemokimab and placebo groups. Detailed results from ANCHOR-1 and ANCHOR-2 are expected to be shared at a future scientific congress.

CRSwNP affects up to 4% of the population, with 40% having uncontrolled disease. It can significantly impact emotional and physical well-being due to symptoms like nasal obstruction, loss of smell, and sleep disturbances. Type 2 inflammation, often indicated by elevated blood eosinophil counts, is associated with more severe disease and is present in up to 80% of CRSwNP cases.

The ANCHOR trials' positive data, coupled with phase III data in severe asthma, will support regulatory filings worldwide. However, depemokimab is not yet approved for use.

ANCHOR-1 and ANCHOR-2 were double-blind, placebo-controlled studies involving over 500 participants. The development program for depemokimab also includes evaluations for other IL-5 mediated diseases, such as severe asthma, eosinophilic granulomatosis with polyangiitis, and hypereosinophilic syndrome.

GSK's focus on respiratory diseases aims to redefine the future of respiratory medicine, leveraging its portfolio and pipeline to improve outcomes for those with asthma, COPD, and other respiratory conditions.

This news is based on a press release statement.

In other recent news, British pharmaceutical giant GSK has made significant strides in its ongoing legal and financial affairs. The company recently announced a settlement of up to $2.2 billion for U.S. lawsuits alleging that its now-discontinued heartburn medication Zantac was carcinogenic. This figure, which is lower than some market analysts had predicted, covers approximately 93% of the pending cases against GSK.

Analysts from Jefferies have indicated that this move should alleviate most of the uncertainties affecting the company's stock due to the Zantac-related legal issues.

In the realm of product development, GSK revealed new data indicating sustained efficacy over three respiratory syncytial virus (RSV) seasons of its AREXVY vaccine in adults aged 60 and above. Despite this, Jefferies anticipates that GSK's Q3 sales and profits may fall short of consensus estimates due to the weaker-than-expected performance of US Arexvy.

However, the company is expected to reaffirm its 2024 outlook.

InvestingPro Insights

GSK's positive phase III trial results for depemokimab align with the company's strong position in the pharmaceutical industry. According to InvestingPro data, GSK boasts a market capitalization of $79.27 billion and has demonstrated solid financial performance with a revenue of $39.75 billion over the last twelve months as of Q2 2024, showing a 7.2% growth.

InvestingPro Tips highlight GSK as a "prominent player in the Pharmaceuticals industry," which is evident from its continued innovation in respiratory medicine. The company's ability to maintain dividend payments for 24 consecutive years, coupled with a current dividend yield of 3.94%, underscores its financial stability and commitment to shareholder returns.

The positive trial outcomes could potentially contribute to GSK's future growth, aligning with analysts' predictions that the company will remain profitable this year. With an adjusted P/E ratio of 8.86, GSK appears to be trading at a reasonable valuation considering its market position and growth prospects.

For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights, with 10 more tips available for GSK on the platform.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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