Category: 3. Business

• Primary endpoint met in both trials
• Bepirovirsen demonstrated a statistically significant and clinically meaningful functional cure rate
• Chronic hepatitis B (CHB) accounts for ~56% of liver cancer cases ¹ and affects more than 250 million people worldwide ²
• Global regulatory filings planned from Q1 2026

GSK plc (LSE/NYSE: GSK) today announced positive results from its two pivotal phase III trials, B-Well 1 [NCT05630807] and B-Well 2 [NCT 05630820], evaluating bepirovirsen, an investigational antisense oligonucleotide (ASO) for the treatment of chronic hepatitis B (CHB) in over 1,800 patients from 29 countries.

CHB is a major health challenge affecting over 250 million people worldwide and is the leading cause of liver cancer. The current standard of care – nucleos(t)ide analogues – often requires lifelong therapy and the functional cure rates remain low, typically only 1%.³ Functional cure for CHB is when the virus can no longer be detected in the blood, as measured by the sustained loss of hepatitis B surface antigen – a viral protein that signals ongoing infection – and undetectable hepatitis B virus DNA for at least 24 weeks after a finite course of treatment. This allows the immune system to control the infection without further medication.  Functional cure is associated with significant reduction in the risk of long-term liver complications, including liver cancer, as well as all -cause mortality.^4,5 

The B-Well trials met their primary endpoint, and bepirovirsen demonstrated a statistically significant and clinically meaningful functional cure rate. Functional cure rates were significantly higher with bepirovirsen plus standard of care compared with standard of care alone. Results were statistically significant across all ranked endpoints, including in patients with baseline surface antigen (HBsAg) <=1000 IU/ml where an even greater effect was demonstrated.  The trials demonstrated an acceptable safety and tolerability profile consistent with what was reported in other studies.  

Tony Wood, Chief Scientific Officer, GSK, said:

“Bepirovirsen has the potential to transform treatment goals for people living with CHB by achieving significant functional cure rates – a first for the disease. CHB affects more than 250 million people and leads to approximately 56% of liver cancer cases worldwide. Today’s result supports our plans to progress bepirovirsen as a treatment and also continue its development as a backbone in future sequential therapies. We’re pleased by this major advance in our expanding hepatology pipeline, aimed to transform outcomes in liver disease.”

Full results will be submitted for presentation at an upcoming scientific congress, published in a peer-reviewed journal and used to support regulatory submissions to health authorities worldwide. If approved, bepirovirsen has the potential to become the first finite, six-month therapeutic option for CHB and to serve as a backbone for future sequential treatment strategies.

Clinical trial programme

B-Well 1 and B-Well 2 trials are global multi-centre, randomised, double-blind, placebo-controlled trials conducted in 29 countries. They assessed the efficacy, safety, pharmacokinetic profile, and the durability of functional cure in nucleos(t)ide analogue (NA)-treated participants with CHB and baseline surface antigen (HBsAg) ≤3000 IU/ml. The primary endpoint assessed the proportion of participants achieving functional cure in patients with baseline surface antigen (HBsAg) ≤3000 IU/ml. A key ranked secondary endpoint evaluated functional cure in participants with baseline HBsAg ≤1000 IU/ml. Functional cure is defined as hepatitis B surface antigen (HBsAg) loss and undetectable HBV DNA for at least 24 weeks after a finite course of treatment. 

About chronic hepatitis B

Hepatitis B is a viral infection that can cause both acute and chronic liver disease. Chronic hepatitis B occurs when the immune system is unable to clear the virus, resulting in long-lasting infection that affects more than 250 million people worldwide. The disease causes approximately 1.1 million deaths each year ⁶, and accounts for approximately 56% of liver cancer cases globally. Many patients often require lifelong antiviral therapy for viral suppression; making functional cure a critical goal in disease management.

About bepirovirsen

Bepirovirsen is a triple action investigational antisense oligonucleotide (ASO), designed to recognise and orchestrate the destruction of the genetic components (i.e. RNA) of the hepatitis B virus that can lead to chronic disease, potentially allowing a person’s immune system to regain control. Bepirovirsen inhibits the replication of viral DNA in the body, suppresses the level of hepatitis B surface antigen (HBsAg) in the blood, and stimulates the immune system to increase the chances of a durable and sustained response. 

GSK licensed bepirovirsen from Ionis and collaborated with them on its development. Bepirovirsen has been recognised by global regulatory authorities for its innovation and potential to address significant unmet need in hepatitis B, with Fast Track designation from the US FDA, Breakthrough Therapy designation in China and SENKU designation in Japan.

About GSK

GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at gsk.com.

Cautionary statement regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described in the “Risk Factors” section in GSK’s Annual Report on Form 20-F for 2024, and GSK’s Q3 Results for 2025.

References

1. Rumgay H et al . Global burden of primary liver cancer in 2020 and predictions to 2040. J Hepatol. 2022;77:1598–1606. doi: 10.1016/j.jhep.2022.08.021
2. WHO, Global hepatitis report 2024. Available at: https://www.who.int/publications/i/item/9789240091672 (last accessed: January 2026)
3. Slaets, L. et al. “Systematic review with meta-analysis: hepatitis B surface antigen decline and seroclearance in chronic hepatitis B patients on nucleos(t)ide analogues or pegylated interferon therapy” in GastroHep 2, 106–116 (2020)
4. Drysdale M et al. GHS 2025. Oral presentation. Slides available upon request.
5. EASL, “Clinical Practice Guidelines on the management of hepatitis B virus infection” in Journal of Hepatology
   Volume 83, Issue 2, August 2025, Pages 502-583. Available at: https://www.sciencedirect.com/science/article/pii/S0168827825001746 (last accessed: January 2026)
6. WHO. Global hepatitis report 2024. Available at: https://www.who.int/publications/i/item/9789240091672 (last accessed: January 2026)

SINGAPORE (Reuters) – The dollar hugged tight ranges on Wednesday ahead of a slew of US economic data that could set the tone for the Federal Reserve’s rate outlook, a factor traders consider more consequential for currencies than ongoing geopolitical tensions.

Markets have thus far largely brushed off deepening geopolitical fractures around the world, with stocks rallying and currencies and bonds little budged following the US intervention in Venezuela and the capture of President Nicolas Maduro.

Also on traders’ radar, China on Tuesday banned exports of dual-use items to Japan that can be used for military purposes, marking Beijing’s latest move in reaction to an early November remark by Japanese Prime Minister Sanae Takaichi about Taiwan.

“I think there is still a lot of uncertainty as to whether the regime will change in Venezuela and what it will mean for the oil supply in Venezuela. So I think markets for now are taking a pretty optimistic view, and are more concerned about US economic data,” said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

“The fact that China implemented more export controls against Japan also didn’t really move FX markets much either.”

Currencies were largely subdued in Asia, though the dollar struggled for momentum and fell 0.18% against the Japanese yen to 156.39.

Sterling was little changed at $1.3506, while the euro edged 0.04% higher to $1.1694. The common currency had lost 0.3% in the previous session after data showed inflation slowed more than expected in some of the euro zone’s biggest economies last month.

Overall, currency traders were in a wait-and-see mode ahead of a batch of US labour market data, with figures on private payrolls and job openings due later in the day, before Friday’s closely watched nonfarm payrolls report comes due.

Ahead of the outcome, the dollar index eased slightly to 98.54.

The Aussie dollar hit its highest since October 2024 at $0.6766, as a mixed inflation report kept alive the prospect of a near-term hike in interest rates. The New Zealand dollar bought $0.5783.

“The most impactful publication will be ADP’s monthly jobs report, as an uptick in unemployment is one of the significant risks in this new year, alongside the potential failure of heavy investments in AI to deliver blockbuster returns,” Jose Torres, senior economist at Interactive Brokers, said of Wednesday’s releases.

Investors have struggled to get an accurate read of the world’s largest economy following a record US government shutdown last year which hampered the collection and release of key economic data.

However, they remain convinced that the Fed will cut rates two more times this year.

That has weighed on the dollar, though growing divisions within the Fed and US President Donald Trump’s imminent pick for the next Fed Chair have further complicated the outlook for US monetary policy.

Australia’s online safety watchdog is investigating sexualised deepfake images posted on X by its AI chatbot, Grok.

Elon Musk’s X has faced a global backlash since Grok began generating sexualised images of women and girls without their consent in response to requests for it to undress them.

Ashley St Clair, the estranged mother of one of Musk’s children, said she had no response to her complaints about being digitally undressed.

“I felt horrified, I felt violated, especially seeing my toddler’s backpack in the back of it,” she said this week.

The fake images included one of a 12-year-old girl in a bikini. The Grok chatbot issued an ‘apology’ when prompted but continues to generate the deepfakes.

eSafety Australia said it was investigating images of adults but that the images of children did not, at this point, meet the threshold for child sexual exploitation material.

“Since late 2025, eSafety has received several reports relating to the use of Grok to generate sexualised images without consent,” an eSafety spokesperson said.

“Some reports relate to images of adults, which are assessed under our image-based abuse scheme, while others relate to potential child sexual exploitation material, which are assessed under our illegal and restricted content scheme.

“The image-based abuse reports were received very recently and are still being assessed.

“In respect of the illegal and restricted content reports, the material did not meet the classification threshold for class 1 child sexual exploitation material. As a result, eSafety did not issue removal notices or take enforcement action in relation to those specific complaints.”

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The Australian regulator defines illegal and restricted material as “online content that ranges from the most seriously harmful material, such as images and videos showing the sexual abuse of children or acts of terrorism, through to content which should not be accessed by children, such as simulated sexual activity, detailed nudity or high impact violence”.

The X app allows users to access a “spicy mode” for explicit content.

“This is not spicy,” the European Union’s digital affairs spokesperson, Thomas Regnier, told the ABC. “This is illegal. This is appalling.”

Eliot Higgins, the founder of the investigative journalism group Bellingcat, exposed how Grok handled requests to manipulate a picture of the Swedish deputy prime minister, Ebba Busch, in parliament.

Users gave Grok instructions such as “bikini now” and “now put her in a confederate flag bikini”. Higgins said the images provided reflected the prompts.

On Wednesday it was revealed that Musk’s artificial intelligence company xAI, which developed Grok, had raised $20bn in its latest funding round.

The UK’s technology secretary, Liz Kendall, said the deepfake images were “appalling and unacceptable in decent society” and that X needed to deal with it “urgently”.

The eSafety spokesperson said the regulator remained “concerned about the increasing use of generative AI to sexualise or exploit people, particularly where children are involved”.

“eSafety has taken enforcement action in 2025 in relation to some of the ‘nudify’ services most widely used to create AI child sexual exploitation material, leading to their withdrawal from Australia,” the spokesperson said.

Guardian Australia contacted X for comment. On Monday, the company said: “We take action against illegal content on X, including child sexual abuse material, by removing it, permanently suspending accounts and working with local governments and law enforcement as necessary.”

After global outcry at the harmful nature of the content, Musk posted that “anyone using Grok to make illegal content will suffer the same consequences as if they upload illegal content”.

In Australia, support is available at Beyond Blue on 1300 22 4636, Lifeline on 13 11 14, and at MensLine on 1300 789 978. Children, young adults, parents and teachers can contact the Kids Helpline on 1800 55 1800; adult survivors can seek help at Blue Knot Foundation on 1300 657 380. In the UK, the charity Mind is available on 0300 123 3393 and Childline on 0800 1111. The NSPCC offers support to children on 0800 1111, and adults concerned about a child on 0808 800 5000. The National Association for People Abused in Childhood (Napac) offers support for adult survivors on 0808 801 0331. In the US, call or text Mental Health America at 988 or chat 988lifeline.org, or call or text the Childhelp abuse hotline on 800-422-4453. Other sources of help can be found at Child Helpline International

The excavation was led by Gary Bankhead, president of the Vedra Hylton Community Association and honorary fellow of Durham University’s Department of Archaeology.

He said the whetstone production site was the largest in Britain, “without a shadow of a doubt”.

“It’s probably the largest number of whetstones found in the entire north-west of Europe,” he said, “so it’s a significant location, hidden in plain site.”

Bankhead said the team had also uncovered several other objects from different periods which suggested Offerton was abandoned after the Romans left but later re-established as a settlement.

The Georgia Department of Labor (GDOL) announced today that Georgia’s unemployment rate for November 2025 was 3.5%, up slightly from a revised 3.4% in September. November’s unemployment rate remained 1.1 percentage points below the national unemployment rate. One year ago, Georgia’s unemployment rate was 3.6%. October 2025 data is unavailable due to a lapse in federal appropriations related to the federal government shutdown.

“In November, Georgia’s unemployment rate remains more than a full point below the national average, and we’re seeing job growth in sectors that matter most to hardworking Georgians,” said Georgia Labor Commissioner Bárbara Rivera Holmes. “As we head into 2026, we’re staying focused on what keeps Georgia competitive: Preparing workers, supporting businesses, and delivering opportunity across our state.”

After three straight months of job losses, jobs were up 1,000 over the month to 4,987,500 and were up 16,300 over the past 12 months.

In November, the sectors reaching all-time highs were private education and health services, 735,600; and leisure and hospitality, 524,900.

The sectors with the most job gains in the past month were accommodation and food services, 1,500; health care and social assistance, 900; arts, entertainment, and recreation, 800; state government, 600; and management of companies, 400.

Jobs were down over the month in federal government, 1,500; administrative and support services, 1,400; construction, 1,000; retail trade, 800; and finance and insurance, 600.

The sectors with the most job gains over the past year were health care and social assistance, 23,800; administrative and support services, 6,100; accommodation and food services, 5,600; arts, entertainment, and recreation, 3,700; and durable goods manufacturing, 3,200.

Jobs were down over the year in transportation, warehousing, and utilities, 17,000; federal government, 11,100; information, 4,200; professional, scientific, and technical services, 2,500; and wholesale trade, 2,000.

Georgia’s labor force increased by 13,973 to 5,401,357 in November and declined by 8,032 over the past year.

Employment rose by 5,925 to 5,211,726 and declined by 1,087 over the past 12 months.

Unemployment rose by 8,048 to 189,631 in November and was down 6,945 over the past year.

Initial claims were down 2,755 over the month to 16,719 in November and down 2,600 over the year.

Contact Georgia Department of Labor Communications Office 
[email protected] 
(404) 232-3685 
 
Media Contact: Director of Communications, Shawna Mercer 
Email: [email protected] 
Phone Number: 678-350-6878 
 
For personalized assistance, employers can reach Georgia Department of Labor (GDOL) staff at https://dol.georgia.gov/email-us. For more information on unemployment benefits, claimants should call 877.709.8185 or visit their MyUI Claimant Portal. GDOL’s Career Centers also provide in-person unemployment insurance benefit services for customers statewide.

For more information on jobs and current labor force data, visit Georgia LaborMarket Explorer to view a comprehensive report.

Four Futures for Jobs in the New Economy: AI and Talent in 2030 explores how AI advancement and talent trends, and their potential trajectories until 2030, could transform the future of jobs and the global economy. The paper consolidates views and insights from chief strategy officers and other experts around cross-cutting risks and opportunities, and “no-regret” strategies to help leaders understand critical uncertainties, stress-test assumptions and enhance foresight to navigate – and lead in – the new economy.

This report is the second output of the World Economic Forum’s Scenarios for the Global Economy Dialogue Series, which uses scenario analysis and cross-industry dialogue to help decision-makers navigate global economic developments and their implications for strategy, investment decisions and resilience. Throughout 2026, the dialogue series will continue to explore scenarios related to key economic topics, focusing on business-relevant challenges and uncertainties.