Genmab Stock Surges to Record High as Cancer Drug Slashes Risk of Death by 50%

Genmab stock hit a record high after its experimental cancer drug petosemtamab cut the risk of death by 50%, according to Barron's. Jefferies said the company scored a "hat trick" with positive data for the drug.

The 50% reduction in risk of death is the headline number driving the move. A mortality benefit of that size from a single trial readout is the kind of result that tends to reset how the market values a drug candidate, and it explains why the shares printed an all-time high rather than a modest bounce. Interpretation: the market is treating petosemtamab as a potential franchise asset rather than a pipeline option.

Jefferies' "hat trick" framing signals the analyst sees this as one of multiple positive readouts for the drug, not an isolated result. That matters for positioning, because repeated clean data reduces the odds that the stock is trading on a one-off print. The source does not detail the other two data points, so traders should read the phrase as Jefferies' characterization of the drug's trial momentum.

Record highs also mean no overhead supply from prior holders sitting underwater, which can cut both ways: momentum buyers get a clear tape, but late entries carry gap-fade risk if profit-taking arrives.