Glenmark Pharma zooms 4% on positive antibody drug trials; check details

Shares of Glenmark Pharmaceuticals rose 4.1 per cent at Rs 1,576.75 per share on the BSE in Tuesday’s intraday trade. This came after the company disclosed that phase 1 study of Trispecific TREAT Antibody, ISB 2001, showed high overall response rate (ORR) with durable responses and favorable safety profile in patients with heavily pretreated multiple myeloma. 

 

New York headquartered, Ichnos Glenmark Innovation (IGI), an alliance of Glenmark Pharma and its subsidiary Ichnos Sciences presented first-time clinical data from the early dose-escalation portion of its phase 1 study of ISB 2001 for the treatment of relapsed or refractory multiple myeloma (RRMM). 

 

ISB 2001 is an investigational trispecific TREAT antibody for the treatment of RRMM that targets BCMA and CD38 on myeloma cells and CD3 on T cells. BCMA and CD38 are both targets for therapeutic drugs used to treat multiple myeloma. 

 

Initial results from 20 patients treated demonstrated an overall response rate (ORR) of 75 per cent (15/20) across all doses tested, with a stringent complete remission (sCR) and complete remission (CR) rate of 20 per cent. 

 

The ORR was 83 per cent among the 18 patients treated at active doses, including sCR/CR rate of 22 per cent. The safety profile was mild with good tolerability, comparing favorably with first-generation 1+1 bispecifics, the company said in a statement. 

 

“The data presented today on ISB 2001 highlight its remarkable effectiveness as a novel trispecific-antibody T cell engager,” said Professor Hang Quach, MD, Professor of Haematology at the University of Melbourne and Director of Haematology at St Vincent’s Hospital Melbourne.

 

Quach added that the results are impressive and have the potential to revolutionise the treatment landscape for heavily pretreated patients with multiple myeloma who have exhausted currently approved therapies. 

 

Glenmark Pharma’s share price history

On the equities side, glenmark pharma’s stock outperformed the market year to date as it has surged 82 per cent, while gaining 95 per cent in the last one year. In comparison BSE Sensex has risen 12 per cent year to date and 16 per cent in a year. 

 

The company has a total market capitalisation of Rs 44,004.42. Its shares are trading at a price to earnings multiple of 7.80 times and at an earning per share of 199.  

 

At 10:45 AM; the shares of the company were trading 3.02 per cent higher at Rs 1,559.40 a piece. By comparison, the BSE’s Sensex was up 0.04 per cent at 81,539.16 level.