Genmab said an early analysis of its Phase 3 first-line head and neck squamous cell carcinoma study met key objectives for petosemtamab plus pembrolizumab (Keytruda) in PD-L1–positive patients. The combination cut the risk of death by roughly half versus Keytruda alone and also met response rate endpoints, sending Genmab shares to record highs. Genmab framed the readout as the latest in a run of late-stage positives, following recent trial success updates in oncology and antibody pipelines. The company said it will share detailed results with global regulators and present at an upcoming medical meeting. Petosemtamab is a bispecific antibody targeting EGFR and LGR5, acquired through Genmab’s purchase of Merus. Genmab is using the program to build growth ahead of Darzalex exclusivity expiry, with royalties from Johnson & Johnson’s commercial use of Darzalex having driven recent revenue. Separately, TD Cowen analyst Yaron Werber cited the result as positioning petosemtamab for a new treatment standard in first-line disease.