Genmab is Danish. It is worth about $35 billion. CNBC calls it "little-known." Nobody tell the 4.3 million shares that changed hands in one morning.
Shares doubled in three months. Three Phase 3 wins in October. Ovarian cancer. Lymphoma. Head and neck.
The head and neck result came October 28. Petosemtamab plus Merck's Keytruda cut the risk of death by 50%. Stock jumped 29% in a single session. Retail traders saw the chart, ignored the word "petosemtamab," and bought anyway. They could not spell it. They could not pronounce it. They now own it.
The company bought Merus to get that drug. Before, Genmab collected royalties. Darzalex. Kesimpta. Money for existing. Now it wants to own the medicine, sell the medicine, and keep the money. Ambition. In Denmark.
CEO Jan van de Winkel called it a "completely new era." Eras used to take centuries. Now they take one press release and a 48% weekly gain.
JPMorgan upgraded the stock before the big result. Then the result arrived on schedule. Somewhere a trader who bought at the top of the last rally is calling this "my thesis."
Your thesis was a ticker symbol and a feeling.
Van de Winkel says he wants an independent European biotech. He also admits larger drugmakers have noticed him. That is what a man says before the wedding.
Technically, the chart went up and to the right. Chart readers call that a trend. I call it a Tuesday. A 50% drop in the risk of death is wonderful for patients. For you, it means the stock is at an all-time high, which is where you buy.
Genmab reports third-quarter earnings soon. You will read it. You will not understand it. You will buy more.
Fifteen Phase 3 trials are running. Fifteen chances for the stock to remind you that cancer is hard and your entry point is worse.
Photo by Brett Jordan on Unsplash
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