Glenmark Pharmaceuticals has reported promising early-stage clinical results for its experimental blood cancer drug ISB 2001, with 83% of patients showing partial or complete response to treatment in a Phase 1 study targeting heavily pretreated multiple myeloma patients.
The trispecific TREAT antibody, developed through Ichnos Glenmark Innovation—a partnership between Ichnos Sciences and Glenmark Pharmaceuticals—demonstrated a high overall response rate with durable responses and a favorable safety profile. Among the 18 patients enrolled in the study, cancer went away completely in 20% of cases.
Clinical Significance and Expert Response
The results have drawn significant attention from the medical community, with clinical experts highlighting the potential impact on treatment options for advanced multiple myeloma patients. "These results are among the most impressive I have seen in this patient population. ISB 2001 has the potential to revolutionise the treatment landscape for heavily pretreated patients with multiple myeloma who have exhausted currently approved therapies," said Hang Quach, M.D., Professor of Haematology at the University of Melbourne and Director of Haematology at St. Vincent's Hospital Melbourne.
According to Glenmark's analysis, the data suggests ISB 2001 could compare favorably with approved bispecific options currently available for multiple myeloma treatment.
Market Response and Company Performance
The positive clinical data triggered a significant market response, with Glenmark Pharmaceuticals shares surging over 4% in early trading on December 10. The stock rose 2.6% to 1,554 rupees, making it the top gainer on the Nifty Pharma index, which was up 0.14% during the same period.
Trading volumes supported the price movement, with six lakh shares exchanged—matching the one-month daily trading average. The stock performance helped snap a four-day losing streak for the company.
Financial Context
The positive trial results come as Glenmark Pharmaceuticals has shown strong financial recovery. The company reported a consolidated profit of Rs 354.49 crore for the July-September quarter, marking a significant turnaround from a consolidated loss of Rs 180.3 crore in the same quarter of the previous fiscal year.
Consolidated revenue from operations for the quarter rose to Rs 3,433.8 crore, up from Rs 3,207.37 crore in the corresponding period of the previous fiscal year.
Development Partnership
ISB 2001 is being developed through Ichnos Glenmark Innovation, a collaboration between Ichnos Sciences, a biotech firm specializing in multispecifics for oncology, and Glenmark Pharmaceuticals. This partnership focuses on advancing new drug discovery in cancer treatment, with multiple myeloma representing a key therapeutic area.
Analysts maintain a "buy" rating on Glenmark with a median price target of 1,700 rupees, according to LSEG data. The stock has gained approximately 55% year-to-date, significantly outperforming the broader pharma index's 33% gain.
