UK-based GlaxoSmithKline PLC (GB:GSK) hits a key milestone in its ovarian cancer trial, testing Zejula (niraparib) and Jemperli (dostarlimab). The company announced that its FIRST-ENGOT-OV44 phase III trial successfully met its primary goal of extending survival without disease progression in patients with advanced ovarian cancer. GSK shares fell by 0.34% as of writing.
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Based in the UK, GlaxoSmithKline is a global pharmaceutical company with a presence in roughly 80 countries.
GSK Shares Key Outcomes from Ovarian Cancer Trial
The trial showed that adding dostarlimab to standard chemotherapy (carboplatin and paclitaxel) and niraparib maintenance therapy, with or without bevacizumab, made a significant positive difference.
GSK further reported that the trial with Zejula and Jemperli did not achieve a statistically significant improvement in overall survival, which was an important secondary goal of the study. Nonetheless, the company stated that it remains committed to advancing treatments for gynaecological cancers and will continue to explore the potential of this combination.
Earlier this week, the European Medicines Agency (EMA) recommended extending the approval of Jemperli in combination with chemotherapy for treating adult patients with primary or recurrent endometrial cancer.
Both developments gave a significant boost to the company’s oncology portfolio. In recent years, GSK has increased its focus on developing cancer treatment amid the challenges in its vaccines division. For 2024, the company has revised its vaccine sales growth forecast downward, now expecting a low single-digit percentage increase instead of the previously anticipated low to mid-single-digit percent in turnover.
Are GSK Shares a Good Buy?
According to the consensus on TipRanks, GSK stock has received a Hold rating backed by seven Hold, three Buy, and two Sell recommendations. The GSK share price forecast is set at 1,628p, indicating a projected increase of 23.5% from the current level.
