Glenmark Pharma announces dosing of first patient with investigational immuno-oncology agent

Glenmark Pharmaceuticals announced that the first patient has been dosed in a Phase 1 trial of GBR 1342 (NCT03309111), an investigational bispecific antibody.

This first-in-human, open-label study’s primary objective is to assess the safety and tolerability of increasing doses of GBR 1342 in multiple myeloma patients until a maximum tolerated dose is reached.

This trial is a step in a right direction as it will strengthen its higher-margin biologics pipeline with lesser competition. Three of the company’s biologics, two of which are immuno-oncology agents, have begun clinical trials. Glenmark’s immuno-oncology pipeline currently includes three candidates being studied in a wide range of tumor types.

It has a diverse pipeline with several compounds in various stages of clinical development, primarily focused in the areas of immuno-oncology, respiratory disease and dermatology. The company is also pursuing partnership opportunities for four of its novel molecules & expects to out-license at least one of them in FY18E. This may help in debt reduction.

The stock is trading at 13.3x FY19E earnings. We have positive outlook on the stock.

Glenmark Pharmaceuticals Ltd is currently trading at Rs 535.65, up by Rs 3 or 0.56% from its previous closing of Rs 532.65 on the BSE.
The scrip opened at Rs 529.15 and has touched a high and low of Rs 536.5 and Rs 529.15 respectively.




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