GMAB Genmab AS

A/S Genmab significantly increased its stake in Merus (NASDAQ:MRUS) by purchasing over 1 million shares on December 29th, at $97.00 per share, totaling over $102 million. This acquisition, part of a larger series of buys amounting to 2.42 million shares in December, raises Genmab's ownership to 73,884,293 shares, representing a 1.45% increase. The transaction precedes Merus's confirmed delisting from Nasdaq, which contributed to a stock price drop and uncertainty.

Danish biotech Genmab has announced the discontinuation of further clinical development for acasunlimab, an oncology drug previously investigated for lung cancer. This decision stems from Genmab's strategic shift to focus on high-potential, late-stage portfolio opportunities like Epkinly, petosemtamab, and rinatabart sesutecan (Rina S), despite encouraging clinical data for acasunlimab. The company reassures that this move will not affect its full-year 2025 financial guidance and aligns with its disciplined portfolio prioritization.

Genmab has decided to discontinue the development of Acasunlimab as part of a pipeline reset. This decision comes after their recent acquisition of Merus for $8bn, indicating a strategic shift towards enhancing their pipeline. The company is re-evaluating its drug development focus.

Genmab has discontinued the development of acasunlimab, a bispecific antibody in mid and late-stage trials for solid tumors, including non-small cell lung cancer (NSCLC). This decision is part of a strategic pipeline review to focus on more value-creating opportunities and other oncology antibodies like Epkinly, petosemtamab, and rinatabart sesutecan. The company's CEO emphasized re-allocating investments to deliver the greatest benefit for patients and shareholders, an action supported by analysts given the competitive landscape.

Genmab (GMAB) has announced the discontinuation of clinical development for acasunlimab, stating that this decision will not affect its 2025 financial guidance. The company's CEO, Jan van de Winkel, indicated that while data for acasunlimab was encouraging, the company is prioritizing investments in its late-stage pipeline, including EPKINLY, petosemtamab, and Rina-S, to maximize benefits for patients and shareholders.

DNB Carnegie has adjusted its price target for Danish biotechnology company Genmab A/S (NASDAQ:GMAB) downward to 1,985 Danish Kroner from the previous 2,050 Danish Kroner. Despite this reduction, the firm has chosen to reiterate its "Hold" recommendation for the stock. This update comes amidst other recent news regarding Genmab's clinical development pipeline, including the discontinuation of their Acasunlimab antibody.