Genmab, the bio-tech company, has demonstrated impressive financial performance in H1, 2024, but encountered setbacks such as partner BioNTech terminating collaboration over Acasunlimab and share prices drop triggered by various factors including a board member selling shares. Though strong pipeline prospects led to stocks upgrade, the company was downgraded by JPMorgan due to projected 2025 earnings threats. They completed share buy-back programs and expanded their oncology reach by acquiring ProfoundBio for $1.8 billion. They announced plans to raise the 2024 financial outlook based on royalty growth. Certain actions led to Genmab's stock dropping to an attractive level, such as the decrease in insider holdings and BioNTech's terminated collaboration. Although the stock price was briefly boosted by robust H1 2024 financials and successful drug approvals, long-term losses caused by a drop of 4.1b kr raised concerns among institutional owners. Early data from a lung cancer study caused shares to drop further. A major biotech stock, Genmab managed to surpass hurdles including legal challenges and successfully reaffirmed their position.
Genmab Stocks News Analytics from Fri, 08 Feb 2019 02:07:50 GMT to Sat, 24 Aug 2024 04:34:50 GMT -
Rating 2
- Innovation 7
- Information 7
- Rumor -5
