Genmab - one to watch24 Oct 2014 10:44
Genmab - a Danish biotech company is worth watching. It has a licence agreement with Janssen (a Johnson & Johnson subsidary) for the development of daratumumab - an antibody treatment for multiple myeloma. The drug is in Phase 3 trials at present and yesterday (Oct 23) it was announced that Genmab are to receive a $10 million milestone payment "triggered by progress in the phase III study of daratumumab in combination with bortezomib and dexamethasone." The payment was anticipated in Genmab's financial guidance for the year. The actual payment indicates the progress is on track. The FDA has granted "breakthrough therapy" designation to daratumumab which could accelerate its development and availability to the market. Genmab has a small share issue and postive news on this could move the share proce significantly. I am a holder.