GlaxoSmithKline, Genmab announce results of Phase III ofatumumab study GlaxoSmithKline and Genmab A/S announced that an Independent Data Monitoring Committee interim analysis of a Phase III study, PROLONG, reached the predefined significance level for efficacy. The interim analysis demonstrated that treatment with ofatumumab met the primary endpoint of improving progression free survival. The study evaluated ofatumumab maintenance therapy versus no further treatment in patients with relapsed chronic lymphocytic leukemia who responded to treatment at relapse. The IDMC did not identify any new safety signals and will continue to monitor patients for safety until all study patients complete therapy. Further analysis of the safety and efficacy data is underway and will be shared with regulators and the scientific community in the coming months.
GlaxoSmithKline downgraded to Underperform from Neutral at BofA/Merrill BofA/Merrill downgraded GlaxoSmithKline to Underperform citing a lack of pipeline catalysts and its belief the European pharma sector is close to fair value.