Shares of Arcus Biosciences, Inc. (NYSE: RCUS) and iTeos Therapeutics, Inc. (NASDAQ: ITOS) experienced a significant surge on Friday. The reason behind this remarkable growth was Roche (RHHBY) providing “meaningful” evidence for a groundbreaking cancer treatment class. Investors were quick to respond, propelling RCUS stock to effortlessly recapture its 50-day line.
Arcus Biosciences, along with other companies, has been conducting research on blocking a receptor called TIGIT, which shields cancer cells from the immune system. The aim is to block TIGIT, allowing the immune cells to attack the cancer cells that are hiding nearby.
In a recent study involving patients with liver cancer, Roche revealed that their anti-TIGIT drug, tiragolumab, when combined with standard treatment, resulted in a higher response rate among patients. Furthermore, patients experienced a longer period of response before their cancer worsened.
Daina Graybosch, an analyst at SVB Securities, regarded Roche’s findings as “the most validating signal” for the group of TIGIT-blocking drugs. In a report to clients, she stated, “Tiragolumab’s contribution to clinical benefit was meaningful and mostly clear.”
On May 26th, RCUS stock soared by an impressive 25.89%, closing at $22.03. Likewise, shares of iTeos Therapeutics, which is also testing a TIGIT blocker, skyrocketed by 29.95% to reach $18.05. Roche stock experienced a modest increase, rising to $40.26.
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