RHHBY's data on experimental obesity drug, CT-996, disappoints investors on higher incidence of adverse events.
The company's stock was falling after a report detailing side effects from its once-daily weight-loss pill.
Shares in Roche fell on Thursday after an early-stage obesity pill candidate that carries high market hopes was linked to a high rate of temporary side effects in its initial test phase on humans.
The storied European pharmaceutical is forging ahead in its efforts to develop a weight loss treatment. Recent news from the lab about the medication is not encouraging, however.
Roche said on Wednesday the promising results of an early-stage trial of its experimental weight-loss pill that bolstered its shares in July were based on just six patients, underscoring the uncertainty of the development project.
Roche stock has risen 22% since May due to promising GLP-1 agonist drug candidates, despite recent setbacks with CT-388's side effects. Roche's GLP-1 pipeline includes CT-388, CT-996 and CT-868, aiming to compete with Lilly and Novo's blockbuster weight loss drugs. Roche's core business remains strong, with Q2 2024 revenues up and guidance raised, providing a hedge against potential GLP-1 program failures.
Amazon, Roche, GE Aerospace, Canterbury Park and NVE are included in this Analyst Blog.
The weight-loss drugs market could be worth up to $144 billion within six years. And a bevy of pharma stocks could get a lift.
RHHBY gets approval for PiaSky for treating patients suffering from paroxysmal nocturnal hemoglobinuria in the EU.
Roche Holding (RHHBY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Roche is actively working to enhance laboratory testing capacity for mpox worldwide, the Swiss pharmaceutical company said on Tuesday.
Veteran investor David Roche expects a bear market in 2025, caused by smaller-than-expected rate cuts, a slowing U.S. economy and an AI bubble. Those factors could cause a bear market of minus 20% in 2025, maybe starting at the end of this year, but the Fed will have room to adjust, he added.