AbbVie Stocks Edge Higher as Lymphoma Trial Cuts Progression Risk 51%

AbbVie's stock rose 0.3% to $266.63 on Oct. 6 after a late-stage trial showed its blood-cancer treatment, epcoritamab, reduced disease progression risk by 51% when combined with R-CHOP. The trial involved patients with diffuse large B-cell lymphoma. AbbVie and partner Genmab plan regulatory discussions and future presentations.

HSBC analyst Rajesh Kumar raised AbbVie's price target to $315 from $300, citing growth potential from drugs Skyrizi and Rinvoq. Kumar expects earnings growth to accelerate, potentially rerating shares. AbbVie trades at 16x forward earnings, with a 2.6% dividend yield. The company's recent acquisition and strong sales of new drugs support long-term growth prospects.

AbbVie (ABBV) and Genmab (GMAB) reported positive phase III trial results for epcoritamab combined with R-CHOP in frontline DLBCL, showing a 51% reduction in disease progression or death. The study met its primary endpoint, and the combo was well-tolerated. Both companies plan regulatory discussions. AbbVie's shares are up 19.1% YTD. Epcoritamab is approved as a monotherapy in several regions.

Genmab and AbbVie's Epkinly, combined with chemotherapy, reduced disease progression or death risk by 51% in a Phase 3 lymphoma trial. The results exceeded expectations and could boost Epkinly's sales. Genmab reported $312M in Epkinly sales in H1 2024, and its shares rose 14% on the news. Epkinly may become the first drug of its kind approved for first-line DLBCL.

AbbVie and Genmab reported Phase 3 trial results showing a 51% reduction in disease progression or death for epcoritamab plus R-CHOP in diffuse large B-cell lymphoma (DLBCL) patients with IPI scores of 2-5. The combination therapy met its primary endpoint, improving progression-free survival. The companies plan to discuss the findings with regulators. Epcoritamab is an investigational bispecific antibody.

AbbVie and Genmab's Epkinly reduced disease progression or death risk by 51% in a Phase 3 trial for frontline DLBCL treatment, exceeding expectations. The study enrolled 900 patients and showed significant improvement over R-CHOP alone. Genmab's shares rose 11% following the data release. Epkinly is already approved for later-stage treatment and could compete with Roche's Polivy and Incyte's Monjuvi if approved for first-line use.