Why did Genmab move?
Written after the close on
Genmab jumps on strong ovarian cancer drug data. Over the last five trading days Genmab rose clearly while the Danish OMX Copenhagen 25 index fell clearly, so the shares moved against the market. The most likely driver was the release of mid-stage trial results for its experimental ovarian cancer medicine Rina-S, which showed durable tumour responses in patients whose cancer had stopped responding to platinum-based chemotherapy, including those with low levels of the protein the drug targets. A separate announcement that an investment manager had built a holding of just over five percent of the voting rights likely added a little support. The next scheduled event is the company's quarterly report in early November.
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History in plain words, not investment advice.