Genmab Shares Double in Three Months After Cancer Trial Successes

According to CNBC, Danish biotech Genmab’s shares doubled in three months after a series of cancer-drug trial successes, including three positive Phase 3 results in October. Shares rose 48% last week, including a 29% jump in one session after Genmab announced on Oct. 28 that petosemtamab, combined with Merck’s Keytruda, reduced the risk of death by 50% compared with Keytruda alone in a trial of patients with recurrent or metastatic head and neck cancer. Rina-S reduced the risk of disease progression or death by 71% and the risk of death by 57% versus chemotherapy in an ovarian cancer trial. Epkinly, combined with standard chemotherapy, cut the risk of disease progression or death by 51% in previously untreated diffuse large B-cell lymphoma. CEO Jan van de Winkel said Genmab intends to retain ownership of more of its new medicines. The company acquired petosemtamab through its $8 billion purchase of Merus in 2025 and Rina-S through its $1.8 billion acquisition of ProfoundBio in 2024.