Genmab discontinuing acasunlimab a ‘good decision,’ says Guggenheim

After Genmab (GMAB) announced it will discontinue further clinical development of acasunlimab, Guggenheim calls this “a good decision by management” given that the firm had no value reflected in its model and estimates for acasunlimab based on low conviction in the probability of success of this candidate. This news has no impact on the firm’s positive investment thesis for Genmab, adds the analyst, who keeps a Buy rating and $45 price target on the shares.