PharmaMar Grows Double-Digit on the Stock Market After Reporting Positive Results of a Trial

PharmaMar registers a boost on the stock market. The Spanish biotechnology company and its partner Jazz Pharmaceuticals have announced positive preliminary results from the phase III trial evaluating the effects of a drug combination in the treatment of advanced stage small cell lung cancer (SCLC).

This news has boosted PharmaMar by 32.7% on the Continuous Market at around five in the afternoon. The pharmaceutical company’s shares rose by double digits, trading at a unit price of 66 euros .

Specifically, the trial results would support that Zepzelca, the brand name for the compound lurbinectedin, in combination with the PD-L1 inhibitor atezolizumab, sold as Tecentriq, would work better than atezolizumab alone for cancer patients of the aforementioned type , after induction therapy with carboplatin, etoposide and atezolizumab.

PharmaMar suffered a 45% drop in profits in the first three months of the year

The combination of lurbinectedin and atezolizumab has demonstrated a statistically significant improvement in the primary endpoints of overall survival (OS) and progression-free survival (PFS), as assessed by the independent review committee (IRF), compared to treatment with atezolizumab alone.

“Every year, between 63,000 and 72,000 new cases of PCP are registered; most of these patients are diagnosed at an advanced stage, which is aggressive, often difficult to treat and has a poor prognosis,” said Luis Paz-Ares, head of the medical oncology service at the 12 de Octubre University Hospital in Madrid, and principal investigator of the IMforte trial.

PharmaMar recorded a profit of 3.5 million euros in the first half of this year, which represents a 45% drop compared to the same period last year , when it earned 6.4 million euros.

Between January and June, the PharmaMar’s turnover rose 0.8% compared to the first half of 2023, reaching 80.8 million euros. By business, net sales in the oncology segment amounted to 42 million euros, 3.2% lower than in the same period of the previous year (43.4 million euros).

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(Featured image by sergeitokmakov via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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