Roche shares surge on positive breast cancer trial results

(Sharecast News) - Shares in Swiss healthcare company Roche surged to an eight-month high on Tuesday after results from a clinical trial of its giredestrant drug supported its potential as a new standard-of-care endocrine therapy for early-stage breast cancer. Phase III results from the lidERA breast cancer study met their primary endpoint, showing a "statistically significant and clinically meaningful" improvement in invasive disease-free survival with giredestrant compared with standard endocrine therapy.

As a result, giredestrant is now the first selective oestrogen receptor degrader or SERD to demonstrate a significant benefit in the so-called adjuvant setting (meaning it is applied after initial cancer treatment).

"Today's results underscore the potential of giredestrant as a new endocrine therapy of choice for people with early-stage breast cancer, where there is a chance for cure," said Levi Garraway, Roche's chief medical officer and head of product development.

"Given that ER-positive breast cancer accounts for approximately 70% of cases diagnosed, these findings - together with recent data in the advanced ER-positive setting - suggest that giredestrant has the potential to improve outcomes for many people with this disease."

Roche shares were up 6.3% at CHF305.20 by 0922 GMT, rising to levels not seen since March.