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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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
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