Roche's cancer drug failure weighs on companies developing similar drugs

iTeos Therapeutics

11/05/2022 13:37

** Shares of companies developing a class of treatments
known as anti-TIGIT drugs fall in premarket trading after
Roche's  ROG.S  cancer drug failed to slow progression of lung
cancer in a second trial  urn:newsml:reuters.com:*:nL2N2X30BY
    ** Brokerage Wells Fargo says investors will likely give
less credit to this class of drugs
    ** Merck  MRK.N  down 0.8%; co is closely behind Roche in
race for anti-TIGIT drugs
    ** "MRK's own TIGIT was anyways not getting much credit, so
we are less concerned there" - Wells Fargo
    ** Shares of Arcus Biosciences Inc  RCUS.N  and partner
Gilead Sciences  GILD.O  fall ~28% to and 2.2%, respectively
    ** GILD last November exercised an option to collaborate
with RCUS on the anti-TIGIT drug domvanalimab 
    ** iTeos Therapeutics Inc  ITOS.O  slumps 12.6%; co is
collaborating with GlaxoSmithKline plc  GSK.L  to develop a drug
on the platform

 (Reporting by Manas Mishra and Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))