Genmab Faces 'Transformative' Year Ahead With Pivotal Trial Readouts, Truist Securities Says
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Genmab is poised for a "transformative" year with five to six pivotal trial readouts for its drugs, according to Truist Securities. Despite the disappointment of discontinuing acasunlimab, the company will save about $100 million, reallocating funds to Rina-S and petosemtamab programs. Pivotal studies are ongoing for Rina-S in ovarian and endometrial cancer, and for petosemtamab in head and neck cancer. Truist maintains a buy rating with a $48 price target, although Genmab shares fell over 2% recently.
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