Genmab Stock Slips After Discontinuing Further Development Of Cancer Drug Developed With BioNTech

• The decision to discontinue further clinical development of Acasunlimab does not impact Genmab’s full‑year 2025 financial guidance, the company said.
• Genmab assumed sole responsibility for the continued development of Acasunlimab in August 2024 after BioNTech opted out.
• Acasunlimab is an investigational bispecific antibody designed to elicit an antitumor response.

Genmab A/S (GMAB) on Monday said that it will discontinue further clinical development of Acasunlimab as part of its efforts to focus on the most value-creating areas.

The clinical profile observed of Acasunlimab has been encouraging to date, but the company has decided to concentrate on cancer therapies Epkinly, Petosemtamab and Rina‑S, which are in late-stage development, the company said.  

“Although the data have been encouraging, the compelling opportunities we see in our late‑stage pipeline led us to focus our investments where we believe we can deliver the greatest benefit for patients and shareholders. We are highly energized by the momentum of EPKINLY, petosemtamab and Rina‑S, and we remain committed to executing these programs with speed and rigor,” said Genmab CEO Jan van de Winkel.

NASDAQ-listed shares of the company fell 2% at the time of writing.

Collaboration With BioNTech

The decision to discontinue further clinical development of Acasunlimab does not impact Genmab’s full‑year 2025 financial guidance, the company said.

The discontinued drug was developed by Copenhagen based Genmab with Germany based BioNTech. Genmab assumed sole responsibility for the continued development of Acasunlimab in August 2024 after BioNTech opted out citing reasons relating to its portfolio strategy.

Acasunlimab is an investigational bispecific antibody designed to elicit an antitumor response. It was being studied in multiple trials including one in patients with non-small cell lung cancer (NSCLC).

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around GMAB stayed within the ‘bullish’ territory accompanied by ‘low’ message volume while sentiment around BNTX stayed within ‘neutral’ territory with ‘normal’ levels of retail chatter.

GMAB stock has gained 57% this year and by about 58% over the past 12 months. 

Also See: Tesla Supplier Reportedly Slashes Contract In Part Due To Lower-Than-Expected Cybertruck Demand

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