Shares in the drugmaker rose as much as 2.6% to 17.17 pounds
by 1132 GMT - their highest level since August 2022.
GSK said that an interim analysis of a late-stage trial,
called "DREAMM-8", showed Blenrep in combination with pomalidomide
plus the steroid dexamethasone increased progression free survival versus the
standard of care.
The drug was being tested as a second-line of treatment for
patients with relapsed or refractory multiple myeloma in a trial of 302
patients.
GSK's blood cancer drug Blenrep had seen several setbacks
over the last couple of years. In 2022, it was pulled from the U.S. markets
after it failed a late-stage study designed to show that it was better than an
existing treatment.
The failure had dealt a blow to GSK's oncology portfolio,
but analysts said Thursday's positive results could mean a comeback for the
drug.
"Though we will have to await more quantitative
details, GSK is planning to file DREAMM-7/8 with regulators which will
likely bring Blenrep back into models after we'd largely removed it following
prior failures," Barclays analysts wrote in a note.
Analysts at Citi anticipate risk-adjusted Blenrep sales of
2.5 billion pounds ($3.19 billion) in 2035. -Reuters
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