Stock Track | GSK Soars 5% in Pre-Market on Strong Q2 Earnings Beat and Positive Oncology Data
Stock Track
Jul 28
GlaxoSmithKline PLC (GSK) shares surged 5% in pre-market trading Tuesday, driven by a robust second-quarter earnings report that handily beat analyst expectations.
The company reported adjusted earnings per share of $1.35, surpassing the consensus estimate of $1.27 by 6.3%, while quarterly sales of $11.28 billion topped the $10.79 billion forecast. The results represent a nearly 9% increase in earnings and a 5.8% rise in sales compared to the same period last year.
Adding to the positive momentum, GSK’s licensor Hansoh Pharma reported positive phase III data from the ARTEMIS-011 trial of risvantinostat, a B7-H3 targeted drug, in osteosarcoma, bolstering the company’s oncology pipeline.
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