Zurich, Feb 8, 2026, 17:06 CET — Market closed.
Roche Holding (ROG.S) is drawing attention as Swiss markets reopen Monday, following word from the drugmaker that its investigational multiple sclerosis therapy, fenebrutinib, met its primary endpoint in a late-stage trial targeting primary progressive multiple sclerosis. Roche closed out Friday at 356.40 Swiss francs, down 0.6%. 1
Timing is key. The update lands over the weekend, just before a week where investors will be searching for any hint that Roche can push forward in major disease markets, instead of simply protecting its current lineup.
Primary progressive multiple sclerosis only covers a narrow part of the MS market. But that’s where disability tends to pile up—and treatment choices remain scarce. So, when a drug shows even modest progress slowing it, people notice.
But the picture isn’t straightforward. Roche labeled fenebrutinib “non-inferior” to Ocrevus—so, on the trial’s main metric, it didn’t underperform the established therapy. That 12% risk reduction? The company called it numerical. Roche also pointed out that patients on fenebrutinib saw liver enzyme elevations more often (those were reversible) and a greater proportion of deaths compared to Ocrevus. Investigators, for their part, judged the fatalities as not tied to the treatment. 2
Roche has scheduled a neurology-focused investor event for Monday. The company aims to give investors a closer look at its pipeline, along with fresh Phase III FENtrepid data that appeared at the ACTRIMS forum. 3
Roche’s traded participation shares have held their ground, climbing roughly 1.6% since last week’s close. January saw some turbulence, but historical pricing shows a steadier hand recently. 4
Traders are eyeing the weekend drug news, trying to decide if it’s enough to attract new capital—or if Monday just fizzles out after people process that “non-inferior” wording.
After the bell, the more significant driver is what’s ahead in relapsing MS. Roche has said it still needs extra Phase III data before heading to regulators. Whatever timeline emerges—and how sure management sounds about it on Monday—will probably shape the stock’s next move far more than anything from the opening minutes.
Another key angle: what Roche says about safety. MS investors haven’t hesitated to hit stocks for liver signals, manageable or not.
Next up: Monday’s webcast. Investors are also watching for specifics on when the rest of the fenebrutinib data lands, plus updates on what the filing path could look like from there.
