Danish pharmaceutical company Genmab announced on Monday that it will terminate the development of an investigational antibody cancer therapy that had already entered late-stage clinical trials.

In 2024, after BioNTech decided not to continue research on the therapy, Genmab exclusively took over the development and potential commercialization of acasunlimab.

Acasunlimab is a bispecific antibody designed to activate the 4-1BB receptor on the surface of T cells and natural killer cells, thereby generating an anti-tumor response.

The drug was previously in late-stage development for solid tumors, with indications including metastatic non-small cell lung cancer.

Genmab's CEO Jan van de Winkel stated, 'Although the clinical trial data for this drug showed positive results, considering the presence of more promising projects in our late-stage pipeline, we have decided to focus our R&D investments on areas that can create the greatest value for patients and shareholders.'

Genmab will concentrate its research resources on other late-stage anticancer therapy projects, such as Epkinly, petosemtamab, and rinatabart sesutecan.

In September of this year, Genmab acquired the Dutch pharmaceutical company Merus for $8 billion, thereby gaining the development rights to petosemtamab, which is currently undergoing clinical trials for head and neck cancers.

Rinatabart sesutecan belongs to the antibody-drug conjugate (ADC) class of drugs and is currently being studied for ovarian cancer and endometrial cancer.

Genmab added that the decision to terminate the development of acasunlimab will not affect its full-year financial expectations for 2025.

As of the pre-market trading session, Genmab's U.S. stock price fell 2% to $32.72 per share.