Genentech reported new Phase 3 results for fenebrutinib in relapsing multiple sclerosis, claiming the FENhance 1 and 2 studies met their primary endpoints. The BTK inhibitor reduced annualized relapse rate (ARR) versus teriflunomide over 96 weeks, with reductions of 51.1% in FENhance 1 and 58.5% in FENhance 2. Genentech shared the data as a late-breaking presentation at the 2026 American Academy of Neurology (AAN) Annual Meeting. The company framed the results as potentially meaningful for disability progress and suggested comparable liver enzyme elevation rates to teriflunomide—an issue that has shaped investor focus in BTK inhibitor MS development. If the program advances, fenebrutinib could join a crowded BTK-inhibition race in MS that has included safety setbacks and trial failures across multiple sponsors.