An update from Genmab ( (GMAB) ) is now available.
On March 22, 2025, Genmab A/S announced its intention to vigorously defend itself against a lawsuit filed by AbbVie Inc. in the U.S. District Court for the Western District of Washington. The complaint accuses Genmab and others, including ProfoundBio, of misappropriating trade secrets related to the use of disaccharides in antibody-drug conjugates. Genmab, which acquired ProfoundBio in May 2024, refutes these allegations and emphasizes its commitment to its clinical-stage product Rina-S, which is in Phase 3 development for ovarian cancer. The outcome of this legal battle could impact Genmab’s operations and its competitive positioning in the biotechnology industry.
More about Genmab
Genmab A/S is an international biotechnology company headquartered in Copenhagen, Denmark, with a focus on developing innovative and differentiated antibody therapeutics. Founded in 1999, the company has made significant strides in the discovery and commercialization of antibody-based medicines, leveraging advanced technology platforms to address cancer and other serious diseases. Genmab operates globally, with a presence in North America, Europe, and Asia Pacific.
YTD Price Performance: -5.90%
Average Trading Volume: 1,473,147
Technical Sentiment Signal: Buy
Current Market Cap: $12.57B
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