Genmab Takes Over Acasunlimab Development, BioNTech Opts Out, Phase 3 Study Planned for Late 2024
Portfolio Pulse from Benzinga Newsdesk
Genmab A/S (NASDAQ:GMAB) will take over the development and potential commercialization of acasunlimab after BioNTech SE opted out. Genmab plans to start a Phase 3 study in late 2024. BioNTech's decision is based on its portfolio strategy, but their collaboration in antibody science continues.
August 05, 2024 | 9:53 am
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NEGATIVE IMPACT
BioNTech SE has opted out of further development of acasunlimab, focusing on its portfolio strategy. This decision might have a neutral to slightly negative short-term impact on BNTX's stock.
BioNTech's decision to opt out of acasunlimab development may be seen as a strategic move, but it could also raise concerns about its pipeline focus, leading to a neutral to slightly negative short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Genmab A/S will assume full responsibility for acasunlimab's development and potential commercialization. A Phase 3 study is planned for late 2024. This could positively impact GMAB's stock as it shows commitment to advancing its pipeline.
Genmab taking over the development of acasunlimab and planning a Phase 3 study indicates a strong commitment to advancing its pipeline, which is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100