Genmab hits three-year high after blood cancer drug combination study results
GMAB•Genmab shares rose around 8% to a three-year high after a late-stage study found its blood cancer drug combination reduced the risk of disease progression or death by 51% versus R-CHOP alone in newly diagnosed patients.
1. Study results
Genmab and AbbVie said the combination reduced the risk of disease progression or death by 51% compared with R-CHOP alone. Jefferies called the result “impressive” and said it cleared the bar for success, beating investor expectations of around 40%. TD Cowen said the data could establish the combination as a potential new standard of care, with peak potential of over $3 billion.
