An experimental oral drug developed by Roche has shown significant potential in preventing the recurrence of a common type of breast cancer after surgery.
Promising results reported by the Swiss drugmaker on Tuesday sent the company’s stock soaring, reinforcing its strong position in oncology.
A planned interim analysis of a late-stage trial showed that the experimental pill, giredestrant, led to a clinically meaningful improvement in disease-free patients after surgery, better than standard endocrine therapy.
More details are expected at an upcoming medical conference as Roche moves toward regulatory approval.
The prospect of a drug that prevents early-stage disease from spreading to other parts of the body sent Roche shares up 6.1 percent to an eight-month high of 304.90 Swiss francs by 9:39 a.m. GMT.
JPMorgan analysts described the news as a “significant positive surprise” and estimated that the clinical program, if approved, could generate approximately $5 billion in annual revenue.
Investors worry that Roche is relying too heavily on its older drugs, even as the family-controlled company ramps up efforts to enter the growing obesity market and diversify into oncology.
Giredestrant belongs to a class known as selective oral estrogen receptor antagonists (SERDs) to fight tumors that grow in response to estrogen, which are estimated to account for up to 80% of all breast cancers.
The market opportunity has also attracted AstraZeneca, which is developing a rival combination commissuret, while Sanofi’s development efforts in this area have failed.
