AbbVie, Genmab Lymphoma Drug Cuts Disease Risk 60% in Successful Phase 3 Trial
ABBV sits 40% above its 52-week low of $181.73.
Summary
AbbVie and Genmab's combination therapy for relapsed or refractory diffuse large B-cell lymphoma achieved its primary endpoint in a Phase 3 trial. The drug significantly improved progression-free survival, reducing the risk of disease progression and death by approximately 60%. This strong clinical outcome for an aggressive cancer bolsters AbbVie's oncology pipeline and follows the recent $10.9 billion acquisition of Apogee Therapeutics to expand its immunology portfolio. The companies will now engage with global regulatory authorities for next steps.
At the time of this announcement, ABBV was trading at $253.78 on NYSE in the Life Sciences sector, with a market capitalization of approximately $449.3B. The 52-week trading range was $181.73 to $255.99. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.