By Fineline Cube 
Genmab A/S (NASDAQ: GMAB) announced it will discontinue clinical development of acasunlimab, a PD‑L1 x 4‑1BB bispecific antibody in Phase III trials, as part of a strategic portfolio prioritization focusing resources on higher‑value programs including EPKINLY, petosemtamab, and Rina‑S. The decision follows a thorough assessment of the evolving competitive landscape and will not impact 2025 financial guidance.
Strategic Decision Overview
| Item | Detail |
|---|---|
| Company | Genmab A/S (NASDAQ: GMAB) |
| Discontinued Asset | Acasunlimab (PD‑L1 x 4‑1BB bispecific antibody) |
| Clinical Stage | Phase III |
| Reason | Strategic focus on highest‑impact late‑stage opportunities; competitive landscape assessment |
| Resources Reallocation | EPKINLY (epcoritamab), petosemtamab, rinatabart sesutecan (Rina‑S) |
| Financial Impact | No impact on full‑year 2025 guidance |
Pipeline Reallocation Strategy
Genmab will concentrate capital and R&D resources on its priority late‑stage programs:
| Program | Mechanism | Indication | Stage | Strategic Rationale |
|---|---|---|---|---|
| EPKINLY (epcoritamab) | CD3 x CD20 T‑cell engager | Lymphoma | Marketed/Expanding | Commercial traction, expansion potential |
| Petosemtamab | EGFR x LGR5 bispecific | Solid tumors | Late‑stage | Novel target combo, high unmet need |
| Rinatabart sesutecan (Rina‑S) | FRα‑targeted ADC | Ovarian cancer | Late‑stage | Best‑in‑class ADC potential |
Capital Allocation Framework: The decision aligns with Genmab’s disciplined capital allocation, prioritizing programs with clear differentiation and accelerated path to value creation.
Competitive Landscape Analysis
The PD‑1/PD‑L1 x 4‑1BB bispecific space has become increasingly crowded, with multiple competitors advancing similar assets:
| Competitor | Asset | Stage | Differentiation Challenge |
|---|---|---|---|
| Roche | RG6076 | Phase II | Established oncology franchise |
| Pfizer | PF‑07209987 | Phase I | Deep resources |
| AstraZeneca | MEDI5752 | Phase II | Combination with Imfinzi |
Genmab’s assessment concluded that acasunlimab’s competitive moat had narrowed, making resource reallocation prudent for shareholder value.
Financial Implications
- 2025 Guidance: Unchanged – Revenue, EPS, and R&D expense targets maintained
- Cost Savings: Estimated $80‑120 million in avoided Phase III trial costs (2026‑2027)
- Reinvestment: Savings redirected to commercial scaling of EPKINLY and Phase III advancement of petosemtamab/Rina‑S
- Pipeline Value: Prioritized programs represent >$10 billion peak sales potential vs. acasunlimab’s revised risk‑adjusted NPV of $500‑700 million
Forward‑Looking Statements
This brief contains forward‑looking statements regarding Genmab’s pipeline prioritization, resource allocation, and financial impact. Actual results may differ materially due to competitive developments, clinical outcomes, and market conditions.-Fineline Info & Tech