India, March 10 -- Genmab A/S (GMAB) Monday announced that Johnson & Johnson (JNJ) has decided not to exercise its option to develop and commercialize HexaBody-CD38 for multiple myeloma, for a worldwide license.
Shares of Genmab are falling 7.29 percent at 22.39 on Nasdaq.
The biotechnology company notd that the initial HexaBody-CD38 clinical data was promising and showed robust clinical efficacy. Following a thorough evaluation, and rigorous portfolio prioritization, Genmab will not be pursuing further clinical development of HexaBody-CD38.
Genmab said that it is "disappointed that J&J has decided not to advance HexaBody-CD38."
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As per the development ...