GSK PLC (LSE:GSK, NYSE:GSK) shares in New York rose Monday afternoon after it announced that its blood cancer drug Blenrep (belantamab mafodotin) significantly extended survival in a pivotal trial.
The drug, combined with two other therapies, reduced the risk of death by 42% compared to a rival treatment from Johnson & Johnson (NYSE:JNJ), according to results presented at the American Society of Hematology's annual meeting.
The study, known as DREAMM-7, tested Blenrep in patients with relapsed or refractory multiple myeloma. After three years, 74% of patients on the Blenrep combination were still alive, compared with 60% in the group receiving J&J’s Darzalex alongside the same therapies.
Using current projections, GSK estimates that the Blenrep regimen could extend median overall survival to 84 months, versus 51 months for the comparator.
María-Victoria Mateos, the trial’s lead researcher and a professor at Spain’s University of Salamanca, described the findings as a “potential paradigm shift” for patients whose cancer no longer responds to standard treatments.
GSK had previously withdrawn Blenrep from markets in the US and Europe due to limited efficacy as a standalone therapy and concerns over eye-related side effects. However, the latest trial tested the drug in combination with other treatments and demonstrated that its side effects, including vision issues, were manageable with dose adjustments.
“This represents an important advancement that could redefine the treatment of relapsed or refractory multiple myeloma,” said Hesham Abdullah, GSK’s Global Head of Oncology R&D.
GSK is seeking regulatory approval to reintroduce Blenrep globally and forecasts peak annual sales exceeding £3 billion ($3.8 billion). If successful, Blenrep could become GSK’s top-selling drug by 2031, bolstering the company amid recent underperformance in the pharmaceutical market.
Shares of GSK were up 4.1% by midafternoon Monday in New York.