On July 28, GlaxoSmithKline PLC rose 4.44% in regular trading, trading at $54.69/share, with turnover of $44.22 million.

On the news front, the company reported Q2 results that beat market expectations on both top and bottom lines. Adjusted earnings per share came in at $1.35, exceeding the consensus estimate of $1.27 and representing an 8.87% year-over-year increase. Revenue reached $11.28 billion, surpassing the expected $10.79 billion. The company simultaneously announced a target to fully realize annual cost savings of 1.9 billion pounds by 2029.

Additionally, GSK's CEO stated during a media call that the company's existing revenue and earnings streams are sufficient to offset losses from HIV drug patent expirations. The company recently completed the $10.6 billion acquisition of Nuvalent, adding three lung cancer assets to its oncology portfolio, and has advanced its pipeline including a mid-stage Jemperli trial meeting its primary goal in rectal cancer and positive phase 3 data for risvutatug rezetecan in small-cell lung cancer.

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