Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
GlaxoSmithKline plc (NYSE:GSK) announced the termination of the Phase II and Phase III studies of feladilimab, its ICOS receptor agonist in head and neck cancer.
This comes as a disappointment, as the candidate could potentially address a multimillion-dollar market, according to BofA Securities.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The GlaxoSmithKline Analyst: Graham Parry maintained a Neutral rating on GlaxoSmithKline with an unchanged price target of 1,276 pounds ($35.72).
The GlaxoSmithKline Takeaways: The company has halted both INDUCE-3, which was feladilimab in combination with Merck & Co., Inc’s (NYSE:MRK) Keytruda, and INDUCE-4, which was feladilimab in combination with Keytruda and chemo, Parry said in a Thursday note.
“The news is disappointing post positive single-arm expansion cohort data in head and neck last year and melanoma at AACR last weekend and given ICOS is viewed as one of the few high-innovation products in the GSK pipeline with potential to address multi-$bn markets given its potential to address multiple tumours,” the analyst said.
Although this does not impact estimates, the news “serves to remind investors of GSK’s relatively weak pipeline in the face of dolutegravir patent expiry in 2028/2029,” he said.
“The impact on other feladilimab trials is not clear.”
GSK Price Action: GlaxoSmithKline shares were up 4.62% at $37.80 at last check.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.