Genmab surged to record highs after petosemtamab delivered a positive late-stage readout in first-line head and neck squamous cell carcinoma. In an early analysis, Genmab’s bispecific antibody petosemtamab plus Keytruda reduced the risk of death by half versus Keytruda alone in patients whose tumors are PD-L1 positive. The program met dual main objectives on response rates and survival measures in a study designed for first-line treatment. Genmab inherited petosemtamab via its Merus deal and has been using earlier Phase 2 results to position petosemtamab for potential broad adoption. Genmab said it will share detailed results with global regulators and present the findings at a future medical meeting, adding to multiple recent late-stage successes that strengthen its pipeline as it navigates the approach of Darzalex patent expiry.