London, Feb 3, 2026, 08:17 (GMT) — Regular session
GSK shares nudged higher in early trading Tuesday, hovering close to a one-year peak ahead of the British drugmaker’s earnings report. The stock gained 0.1% to 1,926.5 pence, after touching 1,928.5 pence earlier. (London South East)
The timing is key as GSK is set to release its full-year and fourth-quarter 2025 results on Wednesday. Investors will be tuning in for the first major update since Luke Miels took over as CEO on January 1. (GSK)
The shares have edged up ahead of the earnings release, and it’s not just about timing. Traders are weighing what will stick around, what might be cut, and just how aggressively management will push cost controls without choking off growth.
Wave Life Sciences announced on Monday that GSK has returned the rights to WVE-006, an RNA-editing drug candidate for alpha-1 antitrypsin deficiency, a genetic disorder affecting lungs and liver. Wave plans to seek an accelerated approval pathway with the U.S. Food and Drug Administration, which could speed up approval using surrogate markers, and expects feedback by mid-2026. CEO Paul Bolno said the company is “eager to accelerate” its registrational strategy. GSK’s chief scientific officer, Tony Wood, added, “Our research collaboration with Wave continues with exciting opportunities ahead.” (GlobeNewswire)
GSK is set to cut around 350 R&D jobs across the UK and U.S., with about 50 already gone at its Stevenage site, according to the Press Association. A company spokesperson noted that R&D investment climbed nearly 90% to £6.4 billion in 2024, emphasizing the group’s focus on “allocating resources” and ensuring “the right people in the right teams.” (The Irish News)
The stock rose 2.6% Monday, closing at £19.25 (1,925 pence), beating the FTSE 100 index gains. (MarketWatch)
GSK reported in a separate stock-exchange update that as of Jan. 31, it had 4,316,103,805 ordinary shares issued, with 240,019,489 held in treasury. This brings the total voting rights to 4,076,084,316, the figure shareholders rely on for disclosure purposes. (Investegate)
Several analysts interpret the Wave transaction as a further step in portfolio trimming under Miels. Joseph Schwartz of Leerink Partners suggested it “could just be a new CEO sharpening and re-directing strategy,” BioPharma Dive reports. (BioPharma Dive)
Investors are eyeing Wednesday’s results for clues on shifts in R&D priorities and whether the company sets clear cost-cutting targets. Updates on cash returns and near-term product momentum will also draw attention.
Expectations ramp up quickly when a stock hits the peak of its recent range. If management hints at weaker demand, delays, or a more complicated restructuring than anticipated, the rally can reverse sharply.
