Genmab A/S (GMAB) Phase 3 Shows 50% Lower Death Risk in 1L HNSCC

Genmab (GMAB) reported positive Phase 3 trial results for petosemtamab in combination with pembrolizumab, showing a 50% reduction in death risk for PD-L1+ head and neck cancer patients. The trial met both primary endpoints, and the company plans to engage regulators and present full results. Petosemtamab is also being evaluated in other Phase 3 trials for different cancers.

Genmab's stock rose 16.8% after its Phase 3 LiGeR-HN1 trial showed a 50% reduction in death risk for a combination treatment. Analysts upgraded the stock, with JPMorgan raising its price target to DKK 3,500 and TD Cowen to $52.00. The trial results were well-received, with no new safety concerns.

Genmab (GMAB) shares rose 16% after announcing positive Phase 3 trial results for petosemtamab, showing a 50% reduction in death risk in head and neck cancer patients. The trial met primary endpoints, with a hazard ratio of 0.50. The company plans regulatory submissions and further trials.

Genmab A/S (GMAB) reported that its Phase 3 trial for petosemtamab met primary endpoints, reducing death risk by 50% in head and neck cancer patients. The combination therapy showed significant improvements in overall survival and response rates, with a hazard ratio of 0.50 and an objective response rate odds ratio of 3.17. The company plans regulatory submissions and further trial evaluations. Head and neck squamous cell carcinoma is the seventh most common cancer globally.

J.P. Morgan upgraded Genmab to 'overweight' and raised its price target to DKr3,500, citing expected positive results from a late-stage trial of its cancer drug petosemtamab. The brokerage anticipates a response rate of at least 40% in head and neck cancer patients, raising its peak sales forecast to $5 billion. It also increased sales forecasts for other drugs, Rina-S and Epkinly, and adjusted its revenue and earnings per share estimates.

JPMorgan upgraded Genmab (GMAB) to Overweight, raising its price target to DKK3,500. The move follows a 68% stock surge and ahead of a key Phase III trial readout. JPMorgan expects a positive outcome and raised peak sales forecasts for peto to $5B. Genmab reported 25% revenue growth in H1 and exceeded earnings estimates.