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GlobeNewswire BiotechnologyDoubao · 实盘不做把握 7/10不做原因:风险收益比不佳
北京时间·🕒 发布 19:00:00·⟳ 抓取 19:01:27·⚡ 决策 10-25 20:50:35 +1h49m·2.2 天前

Genmab公布petosemtamab治疗转移性结直肠癌II期随访更新:1L/2L确认+未确认ORR 75%/67%,支持III期

这是II期单臂研究的随访更新(非注册性III期阳性、非首次疗效披露性质的'确认+未确认ORR'),主要新信息是缓解确认率与持续性,属预期内的渐进式数据巩固;Genmab是市值数百亿美元的成熟大盘biotech,单一II期更新对估值拉动小,真正催化是III期LiGeR读出(尚在入组),事件相对公司体量的增量与预期差不足以支撑短线正期望交易。

📄 原文GlobeNewswire Biotechnology↗ 原文
Media Release COPENHAGEN, Denmark; October 25, 2026 Petosemtamab demonstrates encouraging objective response rates (ORR…
不做 Genmab A/S(GMAB.US)
II期单臂研究随访更新(非III期阳性、非首次疗效揭示、无OS/PFS),主要是缓解确认率/持续性的渐进巩固;Genmab为大盘成熟biotech,该增量相对市值偏小,且无可交易合作方或跨市场映射;下一实质催化为III期LiGeR读出与10/28投资者会,当前无短线正期望edge。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

研究档案

结论摘要

数据本身稳健(ORR 75%/67%、安全性可控、支持III期),但属II期随访成熟度更新、无生存数据、无注册状态迁移,对大盘股Genmab是低增量渐进利好;无可交易的合作方或跨市场映射标的,故不做。

🔎 新鲜度:最早出现 2026-10-25 · 扩散 low · price-in 风险 medium ↗ ↗

消息传播链

  1. 2026-10-25 12:00 CET首发GlobeNewswire / Genmab IR一手源原文 ↗
    公司新闻稿在ESMO 2026期间(周日)首发II期mCRC随访更新;美股周末闭市,下一交易时段为周一开盘
    市场反应:尚未交易(周日)

关键理由

  • petosemtamab II期mCRC疗效随随访巩固(多数未确认缓解转确认、停药率仅3-5%),强化四项III期成功概率,是全资管线的正向但渐进的期权价值更新

主要风险

  • 单臂II期、样本小(45/34例)、无OS/PFS对照,III期仍在入组,读出前存在执行与对照不确定性;IRR发生率43-48%需在III期继续观察
  • 10月28日投资者更新会可能带来超出本数据的指引变化,短线定价窗口与事件驱动节奏不匹配

反向证据

  • 做多前查反向 · 来源 web · 日期 2026-10-25 · 影响 none
    IRR发生率43-48%、3级3-7%,停药率3-5%、无死亡事件——安全性可控但IRR偏高,未构成否决,也不构成新增利空
    检索:petosemtamab safety IRR grade 3 Phase 3 risk mCRC 原文 ↗
  • 做多前查反向 · 来源 web · 影响 weakens
    检索未发现该75%/67% ORR数字在此前会议明确公布的记录,数据有一定新鲜度,但'updated follow-up analyses'性质决定主体疗效方向并非首次揭示,预期差有限
    检索:Genmab petosemtamab mCRC ORR previously disclosed ESMO GI ASCO 2026

先例如何影响了这次决策

对本次决策的影响:缺乏正期望幅度证据,结合事件增量小与大盘股属性,支持AVOID而非小仓试探

方向:未构建可对齐先例面板:本次为大盘biotech的II期随访数据更新,难以找到同主体、同机制(EGFR×LGR5双抗mCRC II期随访)、同相位且首发锚可信的对齐样本

涨幅量级:不足:无高相似aligned先例校准涨幅;一般而言II期随访更新(非首次读出、非III期)对大盘成熟biotech多为低个位数事件反应

形态:无法据先例确认见光死模式;学术会议数据在会议前常被预热,存在'会议公布即兑现'风险

工具执行结果 · 成功 6 · 降级 0 · 失败 0 · 取消 0
  1. search_processed_events 成功 stock_tools HTTP · 895 ms
    {"result": "search_processed_events:agent query=`genmab esmo 2026 petosemtamab 75% orr | genmab petosemtamab phase 2 metastatic colorectal cancer orr esmo 2026 | petosemtamab gen1158 mcrc updated follow-up folfox folfiri`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 72.0/72 小时、3393 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agent que
  2. web_search 成功 doubao_search · 1,903 ms
    豆包搜索结果(原始查询:Genmab petosemtamab Phase 2 colorectal cancer initial ORR data first presented 2025 2026 ESMO;API SearchType:web)
  3. web_search 成功 doubao_search · 1,621 ms
    豆包搜索结果(原始查询:Genmab GMAB stock reaction petosemtamab mCRC data 2026;API SearchType:web)
  4. fetch_decision_experience 成功 stock_tools_inprocess · 2 ms
    {
  5. web_search 成功 doubao_search · 1,801 ms
    豆包搜索结果(原始查询:petosemtamab colorectal cancer ORR 75% 67% first data ASCO GI 2026 initial readout Genmab Merus;API SearchType:web)
  6. web_search 成功 doubao_search · 1,477 ms
    豆包搜索结果(原始查询:Genmab GMAB market cap petosemtamab Merus acquisition prostate HNSCC key catalyst 2026;API SearchType:web)

原文全文

展开原文 · 11,258 字
Media Release
COPENHAGEN, Denmark; October 25, 2026
Petosemtamab demonstrates encouraging objective response rates (ORRs), with promising depth and durability of response, in first- and second-line metastatic colorectal cancer (mCRC)
Data reinforces the ongoing global Phase 3 trials of petosemtamab in mCRC, which are actively enrolling patients
Genmab A/S
(Nasdaq: GMAB) today announced updated follow-up analyses from a Phase 2 trial evaluating petosemtamab, an investigational IgG1-bispecific antibody targeting the epidermal growth factor receptor (EGFR) and leucine-rich repeat containing G-protein-coupled receptor 5 (LGR5), in combination with FOLFOX or FOLFIRI in patients with metastatic colorectal cancer (mCRC).
At a median follow-up of 5.9 months in the first-line (1L) setting and 7.1 months in the second-line (2L) setting, confirmed and unconfirmed objective response rates (ORRs) were 75% and 67%, respectively, with an ORR of 81% observed among 1L patients with left-sided tumors. With longer follow-up, most of the previously unconfirmed objective responses were subsequently confirmed, reinforcing the consistency of the clinical activity observed across treatment settings. The updated analyses reinforce the depth and durability of responses observed in both 1L and 2L treatment settings and support the ongoing global Phase 3 development program. The findings were presented at the European Society for Medical Oncology (ESMO) Congress 2026, held in Madrid, Spain.
“Despite advances in the treatment of metastatic colorectal cancer, outcomes remain poor for many patients once disease has spread, including those with RAS/BRAF wild-type disease who may face limited options after standard chemotherapy and targeted therapy,” said Ruth Vera, M.D., Medical Oncology Department, Hospital Universitario de Navarra, and study investigator. “The encouraging response rates observed in both the first- and second-line settings, along with the maturation of the dataset over time, suggest that treatment with petosemtamab plus chemotherapy may offer a potential new approach for these patients.”
As of May 15, 2026, 79 patients were treated with the petosemtamab combination, including 45 patients in the 1L setting and 34 patients in the 2L setting. Among efficacy-evaluable patients, confirmed and unconfirmed ORR was 75% in 1L patients and 67% in 2L patients. In 1L patients with left-sided tumors, ORR was 81%. Responses were observed across key patient subgroups, including patients with liver metastases, which is a poor prognostic factor in mCRC, with ORRs of 76% and 67% in the 1L and 2L settings, respectively. Median follow-up was 5.9 months in the 1L setting and 7.1 months in the 2L setting, with 76% and 74% of patients, respectively, remaining on treatment at the data cutoff. Disease control rate was 95% in 1L patients and 93% in 2L patients.
Petosemtamab-related treatment-emergent adverse events (TEAEs) led to petosemtamab discontinuation in 2 of 42 patients (5%) treated with petosemtamab + mFOLFOX6 and in 1 of 37 patients (3%) treated with petosemtamab + FOLFIRI. No TEAEs leading to death were reported. Infusion-related reactions (IRRs) occurred in 48% of patients receiving petosemtamab plus FOLFOX and 43% of patients receiving petosemtamab plus FOLFIRI; grade 3 IRRs occurred in 3 of 42 (7%) and 1 of 37 (3%) patients, respectively.
“These updated Phase 2 results presented at ESMO continue to build on the encouraging clinical efficacy of petosemtamab,” said Tahamtan Ahmadi, M.D., Ph.D., Executive Vice President and Chief Medical Officer, Head of Experimental Medicines, Genmab. “The confirmation of previously unconfirmed responses with longer follow-up further reinforces the durability of responses observed across treatment lines and strengthens our confidence in petosemtamab. The data provide a compelling rationale for our ongoing global Phase 3 trials, where we aim to establish the potential benefit for patients in 1L and 2L settings.”
Petosemtamab has the only triple mechanism of action that uniquely targets the LGR5+ stem-like cancer cells that drive tumor recurrence and metastases in epithelial cancers. In addition to this ongoing Phase 1/2 trial (
NCT03526835
), the petosemtamab clinical program includes four Phase 3 LiGeR trials: in 1L PD-L1+ recurrent or metastatic head and neck squamous cell carcinoma (r/m HNSCC) (LiGeR-HN1;
NCT06525220
); in 2L/3L r/m HNSCC (LiGeR-HN2;
NCT06496178
), in 1L RAS/BRAF wild-type, left-sided unresectable or metastatic CRC (LiGeR-CRC1;
NCT07702032
); and in 2L RAS/BRAF wild-type recurrent, unresectable, or metastatic CRC (LiGeR-CRC2;
NCT07775287
).
On Wednesday, October 28 at 5:00 p.m. CET/12:00 p.m. EDT, Genmab will host an investor update. To register, visit
genmab.com/events-presentations
.
About the Phase 2 Petosemtamab Trial (NCT03526835)
The Phase 2 trial (
NCT03526835
) is an ongoing, single-arm, open-label, multicenter study evaluating petosemtamab as monotherapy and in combination with standard-of-care therapies across multiple solid tumors, including metastatic colorectal cancer. Patients with left- and/or right-sided, RAS/BRAF wildtype, anti-EGFR naïve mCRC received 1500 mg of petosemtamab every two weeks plus FOLFOX or FOLFIRI until disease progression or unacceptable toxicity. Patients were treated either in 1L or 2L setting after one prior chemotherapy regimen. The primary endpoints include investigator-assessed objective response rate (ORR) and safety.
About Colorectal Cancer (CRC)
Colorectal cancer (CRC) is a malignant disease of the colon or rectum and is the third most commonly diagnosed cancer globally, with an estimated 1.9 million new cases annually.
i
While CRC is typically diagnosed in older adults, incidence is increasing among younger individuals in many countries.
ii
In metastatic CRC, treatment selection is increasingly informed by molecular characteristics, including RAS and BRAF mutation status, primary tumor sidedness, and prior therapy.
iii
Patients with RAS/BRAF wild-type metastatic CRC may be eligible for EGFR-targeted treatment approaches in 1L settings for left-sided tumors and in 2L settings for both left- and right-sided tumors.
iii
Survival outcomes vary widely by stage and geographic region, with an estimated five-year survival rate of 15% in late-stage metastatic CRC.
iv
About Petosemtamab (GEN1158)
Petosemtamab is an investigational human IgG1-based bispecific antibody targeting the EGFR and the LGR5 and designed to support multiple anti-tumor mechanisms. It inhibits EGFR-mediated signaling by engaging a unique site on the receptor to prevent ligand binding. In addition, petosemtamab triggers EGFR degradation in cancer stem-like cells expressing both EGFR and LGR5. Petosemtamab is also engineered to enhance innate immune-mediated activity through interactions with macrophages and natural killer cells. It is currently being investigated in head and neck squamous cell carcinoma (HNSCC) and other solid tumors, including colorectal cancer (CRC). Please visit
https://clinicaltrials.gov/
for more information.
About Genmab
Genmab is an international biotechnology company dedicated to improving the lives of people with cancer and other serious diseases through innovative antibody medicines. For over 25 years, its passionate, innovative and collaborative team has advanced a broad range of antibody-based therapeutic formats, including bispecific antibodies, antibody drug conjugates (ADCs), immune-modulating antibodies and other next-generation modalities. Genmab’s science powers eight approved antibody medicines, and the company is advancing a strong late-stage clinical pipeline, including wholly owned programs, with the goal of delivering transformative medicines to patients.
Established in 1999, Genmab is headquartered in Copenhagen, Denmark, with international presence across North America, Europe and Asia Pacific. For more information, please visit
Genmab.com
or follow us on
LinkedIn
,
X
,
Facebook
and
Instagram
.
Contact:
David Freundel, Senior Director, Global Communications & Corporate Affairs
T: +1 609 613 0504; E:
dafr@genmab.com
Andrew Carlsen, Vice President, Head of Investor Relations
T: +45 3377 9558; E:
acn@genmab.com
This Media Release contains forward-looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward-looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with preclinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on
www.genmab.com
and the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings
with the U.S. Securities and Exchange Commission (SEC), which are available at
www.sec.gov
. Genmab does not undertake any obligation to update or revise forward looking statements in this Media Release nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.
Genmab A/S and/or its subsidiaries own the following trademarks: Genmab
®
; the Y-shaped Genmab logo
®
; Genmab in combination with the Y-shaped Genmab logo
®
; HuMax
®
; DuoBody
®
; HexaBody
®
; DuoHexaBody
®
, HexElect
®
, and KYSO
®
.
i
World Health Organization. “Colorectal cancer.”
World Health Organization
, accessed May 14, 2026.
https://www.who.int/news-room/fact-sheets/detail/colorectal-cancer
.
ii
Sung H, Siegel RL, Laversanne M, Jiang C, Morgan E, Zahwe M, Cao Y, Bray F, Jemal A. “Colorectal cancer incidence trends in younger versus older adults: an analysis of population-based cancer registry data.”
Lancet Oncol,
2025 Jan;26(1):51-63. doi: 10.1016/S1470-2045(24)00600-4. Epub 2024 Dec 12. PMID: 39674189; PMCID: PMC11695264.
iii
Cremolini C, Chalabi M, Elez E, et al. Metastatic colorectal cancer: ESMO Clinical Practice Guideline for diagnosis, treatment and follow-up.
Annals of Oncology
. 2026.
iv
National Cancer Institute. “Colorectal cancer—cancer stat facts.” Surveillance, Epidemiology, and End Results Program (SEER)”, accessed May 14, 2026.
Cancer of the Colon and Rectum - Cancer Stat Facts
Media Release no. 14
CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122
Genmab A/S
Carl Jacobsens Vej 30
2500 Valby
Denmark
Attachment
251026_MR14_Peto_mCRC_ESMO2026

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  1. d8b208cd2b · 2026-10-25 20:50 · doubao / doubao-seed-evolving-latest-version · 策略包 b7b4acf827b8当前