Cancer
Genmab shares hit record highs after cancer drug succeeds in key trial
Genmab's petosemtamab succeeded in a key trial for first-line head and neck cancer, with analysts saying the results could support a new treatment standard.
Genmab shares reached record highs after its cancer drug petosemtamab succeeded in a key trial for first-line head and neck squamous cell carcinoma, BioPharma Dive reported. The drugmaker's market value swelled by more than $7 billion, according to the outlet. Endpoints News also reported a rise in Genmab stock following the cancer data.
BioPharma Dive said the results could position petosemtamab as part of a new treatment standard. TD Cowen analyst Yaron Werber said the findings could support a broad label, allowing access regardless of whether patients' tumors are driven by HPV infections. Genmab is testing the drug in other Phase 3 trials for second- and third-line recurrent head and neck cancer and colorectal cancer.
