Arcus to ‘trade with strength’ after leaked Roche data looked ‘good,’ says BofA

BofA expects Arcus Biosciences (RCUS) shares to “trade with strength” after the second interim look at Roche’s (RHHBY) SKYSCRAPER-01 trial leaked last night. The combo of TIGIT tiragolumab and PD-L1 Tecentriq vs Tecentriq alone in NSCLC appeared to be trending towards a survival benefit and the data looked “good,” which is likely to renew TIGIT interest, the analyst tells investors. While the firm looks for updates from Roche, “we wouldn’t be surprised to see broad support for TIGIT developers,” says the analyst, who adds that it “remains early and we continue to see reasons to be cautious on Arcus and domvanalimab,” which is partnered with Gilead (GILD). BofA has a Neutral rating and $21 price target on Arcus shares.