Shares Of Glenmark Pharma Surges 4% On Phase 1 Results For Blood Cancer Drug

Mumbai: Glenmark Pharmaceuticals’s shares surged over 4 per cent in early trade on December 10 after the company’s announced 83 per cent positive response rate in Phase 1 study of its blood cancer drug.

The biotechnology company, in an exchange filing, announced that the first clinical data from the Phase 1 study of its Trispecific TREAT Antibody, ISB 2001, in patients with heavily pretreated Multiple Myeloma showcased a positive overall response rate (ORR) with durable responses and a favourable safety profile.

“These results are among the most impressive I have seen in this patient population. ISB 2001 has the potential to revolutionise the treatment landscape for heavily pretreated patients with multiple myeloma who have exhausted currently approved therapies,” Hang Quach, a hematology expert from the University of Melbourne, was quoted as saying.

Shares of Glenmark Pharma were trading at Rs 1,548.48 on the NSE at 09.45 am.

The surge in the stock was also because of strong trading volumes with six lakh shares, which were already exchanged so far, according to reports.

Aimed at advancing the new drug discovery in cancer treatment, this drug is being developed by Ichnos Glenmark Innovation, a collaboration between Ichnos Sciences, a biotech firm specialising in multi-specifics for oncology, and Glenmark Pharmaceuticals.