The Danish company's recent clinical momentum was led by petosemtamab, which cut the risk of death by 50% when combined with Merck's Keytruda for head and neck cancer. Genmab also posted positive Phase 3 results in October for Rina-S in ovarian cancer and Epkinly in diffuse large B-cell lymphoma. Historically dependent on royalties from partnered drugs like Darzalex and Kesimpta, the firm now holds full ownership of both petosemtamab and Rina-S following major acquisitions. Currently, the drugmaker is running 15 Phase 3 trials across its lead candidates ahead of its November 5 earnings report.
Key points
Jefferies analysts estimate that petosemtamab could eventually reach up to $7 billion in…: Jefferies analysts estimate that petosemtamab could eventually reach up to $7 billion in peak annual global sales.
The three October Phase 3 trial successes validate Genmab's shift from collecting partner…: The three October Phase 3 trial successes validate Genmab's shift from collecting partner royalties to capturing proprietary commercial revenues.
Genmab is positioned for extensive pipeline expansion with 15 Phase 3 trials currently un…: Genmab is positioned for extensive pipeline expansion with 15 Phase 3 trials currently underway across its three core oncology programs.
Sources checked by our analysis pipeline: 1
Danish biotech Genmab has seen its shares double in three months after a string of major cancer drug trial successes, giving fresh momentum to its push to take greater control of the medicines it develops and sells.
Shares in the roughly $35 billion company surged 48% last week, including a 29% jump in a single session after strong results for petosemtamab, its experimental head and neck cancer treatment. The announcement marked Genmab's third successful Phase 3 trial in October, following positive results for treatments targeting ovarian cancer and lymphoma.
After nearly three decades spent building Genmab into one of Europe's prominent biotechnology companies, CEO Jan van de Winkel told CNBC on Friday the breakthroughs marked "a completely new era."
Historically, Genmab made money from royalties from drugs it helped develop, including Johnson & Johnson's multiple myeloma treatment Darzalex and Novartis' Kesimpta. Van de Winkel said Johnson & Johnson is expected to generate $16.5 billion to $16.9 billion in Darzalex sales this year, with Genmab receiving royalties of up to 20%.
Genmab is now using that financial firepower to build a…
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