GMAB Stock Hits All-Time High After Genmab’s Cancer Drug Trial Meets Primary Goals — Here’s What Investors Need To Know

• Patients receiving the combination had more than three times the odds of their tumors responding to treatment compared with Keytruda alone.
• The company is also testing Petosemtamab in additional Phase 3 trials for second- and third-line head and neck cancer and previously treated colorectal cancer.
• Last week, Genmab reported positive Phase 3 results for Rina-S, its experimental ovarian cancer drug

Shares of Genmab (GMAB) surged nearly 30% to an all-time high on Wednesday after the drugmaker announced promising Phase 3 results for its experimental head and neck cancer treatment.

GMAB stock recorded its biggest single-day gains ever and is heading for its best-ever month.

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What Did The Phase 3 Trial Show?

Genmab said its Phase 3 LiGeR-HN1 trial met both primary goals, showing that Petosemtamab, when combined with Merck’s blockbuster cancer therapy Keytruda, reduced the risk of death by 50% compared with Keytruda alone. The study involved patients with PD-L1-positive head and neck squamous cell carcinoma (HNSCC).

Patients receiving Petosemtamab alongside Keytruda had more than three times the odds of their tumors responding to treatment compared with those given Keytruda alone.

Petosemtamab is an experimental antibody designed to target two proteins, EGFR and LGR5, involved in cancer growth.

Ovarian Cancer Drug Trial Meets Primary Endpoint

The company is also testing Petosemtamab in additional Phase 3 trials for second- and third-line head and neck cancer and previously treated colorectal cancer.

Last week, Genmab reported positive Phase 3 results for Rina-S, its experimental ovarian cancer drug. The trial met its primary endpoint of progression-free survival, demonstrating a 71% reduction in the risk of disease progression or death.

Retail Turns Bullish On GMAB

Retail sentiment surrounding GMAB on Stocktwits turned ‘bullish’ from ‘neutral’ over the past 24 hours, amid ‘extremely high’ message volumes. GMAB was among the top trending tickers on the platform at the time of writing.

One user believes the surge in stock price to be “pure pipeline euphoria.”

The stock has seen strong buying interest so far this year, surging more than 80%.

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