US Stock Market Move | Genmab (GMAB.US) surged nearly 26% intraday, with its stock price hitting an all-time high.

On Wednesday, Genmab (GMAB.US) opened higher and climbed, rising nearly 26% as of press time, with gains exceeding 58% in October. On the news front, Genmab announced the latest data from its Phase III LiGeR-HN1 study of Petosemtamab, showing that the therapy United Therapeutics Corporation can reduce the risk of death in patients with head and neck squamous cell carcinoma by 50%. Genmab stated that a Phase 3 clinical trial of petosemtamab combined with pembrolizumab met two primary endpoints. The study evaluated the combination regimen in first-line treatment of patients with PD-L1-positive, recurrent or metastatic head and neck squamous cell carcinoma. The company added that compared with pembrolizumab alone, the combination regimen reduced the risk of death by 50%.