Why Genmab Stock Smashed It on Monday

Core Viewpoint - Genmab's stock saw a nearly 4% increase following positive clinical trial results for its drug Rina-S, aimed at treating advanced uterine cancer, and an update on its share buyback program [1][2][5] Group 1: Clinical Trial Results - Genmab announced phase 1/2 clinical trial results for Rina-S, showing a confirmed objective response rate of 50% in patients with advanced uterine cancer who had prior treatments [2] - Study investigator Ira Winer highlighted the encouraging data from the trial, supporting further development of Rina-S as a potential therapy for advanced and recurrent endometrial cancer [4] Group 2: Share Buyback Program - Genmab updated investors on its share buyback program, which allows for the repurchase of up to 2.2 million shares by July 10, 2023, with nearly 2.08 million shares already bought for over 2.7 billion Danish kronor (approximately $411 million) [5] Group 3: Future Outlook - The combination of positive clinical trial results and the aggressive share buyback indicates that Genmab is confident in its development pipeline and future prospects [6][7]