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OTC · large · thesis board

RHHBY Roche

BTK inhibitor (fenebrutinib)

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Thesis

Editorial summary — not a primary filing

Fenebrutinib and MS franchise defense; deep cash and diversified risk.

Next gate

2026-12-05Company-guidedPh3 readout

Phase 3 MS readout

114 days · Company: Company guidance

Survive-to-Event

ok

Cash covers the next gate with ~26 months spare (curated estimate).

Unverified estimate — not from a live SEC parse

Cash runway (~912d)100%
Days to gate (114d)13%
Show math

$15.0B cash ÷ $500M/mo burn ≈ 912 days. Source: curated SEC quarter figures.

Cash $15.0B as of 2026-03-31 (SEC)

Pipeline spine

  1. Preclinical
  2. Ph1
  3. Ph2
  4. Ph3
  5. Filed
  6. Approved

Rivals in this race

Open race →
SNYFiledokNVSPh3okPRTAPh2ok

Risks

  • BTK class competition
  • Safety
  • Pipeline prioritization
  • Pricing

Source trail

  1. SECCash from latest reported quarter (curated)as of 2026-03-31
  2. ClinicalTrials.govNCT04586023as of 2026-07-01
  3. CompanyIR / press disclosuresas of 2026-07-01