Genmab ESMO 2026公布petosemtamab+K药一线头颈癌II期成熟更新:中位OS 28.2个月、ORR 63%,III期数据11月出炉
这是同一开放标签II期试验(n=43、单臂、无对照)的成熟随访更新:ORR 63%、mPFS 9.0个月等核心疗效数据ASCO 2025已公布,本次唯一实质新增是中位OS达到28.2个月(vs 历史SOC约10-12个月,跨试验比较)。数据方向正面、强化11月III期成功预期,但对269亿美元市值的大票属于软催化,盘前已实时重定价+3.4%,且股价上周五刚因Rina-S III期成功大涨9.5%、处52周高位附近;真正决定价值的LiGeR-HN1 III期中期读数在11月,现在买入本质是追二元事件前的runup而非交易本事件增量,正期望不足。
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
Genmab ESMO更新petosemtamab II期成熟数据(中位OS 28.2个月、跨HPV亚组有效),方向正面但属既往II期数据的随访成熟、单臂小样本,且盘前已涨3.4%、前期累计涨幅大;决定性III期读数在11月,本次软催化对269亿美元大票弹性不足,不追。
消息传播链
- 公司通稿首发II期成熟更新:中位OS 28.2个月、ORR 63%、mPFS 9.0个月,III期topline预计今年晚些时候(11月)市场反应:GMAB盘前由43.79美元涨至45.29美元(+3.4%),盘前成交约11.5万股
关键理由
- 新增信息仅为II期中位OS首次达到28.2个月,ORR/PFS等关键终点与ASCO 2025已披露值一致,无注册性新事实
- 盘前+3.4%(成交11.5万股)说明市场正在实时消化,叠加10月23日Rina-S III期成功后单日+9.5%,本次催化的增量edge已基本被定价
主要风险
- 11月LiGeR-HN1 III期中期ORR为二元事件,若II期疗效无法在对照试验中复制,runup资金可能集中回吐
- J&J amivantamab等EGFR/MET竞品及现有Keytruda±化疗方案竞争激烈,单臂II期OS的跨试验比较说服力有限
反向证据
- 做多前查反向 · 来源 web · 日期 2026-10-25 · 影响 none
J&J Rybrevant联合方案在ESMO 2026报告非HPV OPSCC亚组ORR 77%(n=22),同赛道拥挤;但其HPV+亚组ORR仅29%,petosemtamab跨HPV亚组有效反具差异化,竞争证据不否决方向但压制估值弹性
检索:petosemtamab HNSCC competitive setback competitor amivantamab phase 3 risk - 做多前查反向 · 来源 kb_search · 日期 2026-10-26 · 影响 weakens
卖方已普遍预期11月LiGeR-HN1中期ORR阳性并提前上调评级/目标价,本事件是预期内的会前更新而非意外利好
检索:Genmab petosemtamab phase 3 readout November 2026 expectations
先例如何影响了这次决策
对本次决策的影响:支持不追:本次事件强度弱于公司近期两个已兑现的III期催化,缺乏对齐先例支撑短线入场幅度,故AVOID
方向:未构建外部先例面板;内部库与行情显示Genmab近期自身两个III期阳性催化(Epkinly 1L DLBCL于10月5日、Rina-S卵巢癌于10月23日)均录得约+10%单日大涨,方向上印证重磅临床阳性对该股有强正弹性,但二者均为注册性III期首次阳性,强度显著高于本次II期成熟更新
涨幅量级:无同市场、同机制、同相位(II期随访更新)且锚干净的对齐先例,不能据近期III期事件的涨幅校准本次tp/sl
形态:证据不足,无法判断II期更新类事件是否见光死;但盘前+3.4%且卖方提前升级,符合预期内会议数据短线被提前消化的特征
工具执行结果 · 成功 3 · 降级 1 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 239 ms
{"result": "search_processed_events:agent query=`genmab petosemtamab phase 2 head neck hnscc esmo 2026 overall survival | gmab gen1158 liger-hn1 phase 2 updated data | petosemtamab pembrolizumab first-line hnscc median os 28.2 mo`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 68.9/72 小时、2645 条本臂决策(完整),返回 2 条候选。\n• 10-25 - stock_quote 降级 stock_tools HTTP · 139 ms
{ - web_search 成功 doubao_search · 2,509 ms
豆包搜索结果(原始查询:Genmab petosemtamab HNSCC phase 2 data previously presented ESMO 2024 ORR overall survival;API SearchType:web) - kb_search 成功 stock_tools HTTP · 222 ms
{
原文全文
展开原文 · 10,926 字
COPENHAGEN, Denmark; October 26, 2026
Median overall survival (OS) outcomes and encouraging anti-tumor activity observed with petosemtamab plus pembrolizumab in first-line (1L) recurrent or metastatic PD-L1+ head and neck squamous cell carcinoma (r/m HNSCC), with responses observed across HPV-positive and HPV-negative disease
Phase 3 program in 1L HNSCC is ongoing, with topline data anticipated later this year
Genmab A/S
(Nasdaq: GMAB) today announced
updated
results 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 pembrolizumab
for
first-line
(1L)
treatment of
recurrent/metastatic
PD-L1+
head and neck squamous cell carcinoma (r/m
HNSCC).
In the 1L combination arm, treatment with petosemtamab plus pembrolizumab achieved a median overall survival (OS) of 28.2 months, associated with an overall response rate (ORR) of 63% and median progression free survival (mPFS) of 9.0 months in efficacy-evaluable patients (n=43), including a complete response (CR) rate of 19%. The findings were presented at the European Society for Medical Oncology (ESMO) Congress 2026, held in Madrid, Spain.
“For patients with recurrent or metastatic head and neck squamous cell carcinoma, there is an ongoing need for new treatment approaches that may help expand options beyond currently available regimens,” said Amaury Daste, M.D., Medical Oncologist, Hospital Center University de Bordeaux, France, and study investigator. “The median overall survival of 28 months observed with petosemtamab plus pembrolizumab in this trial, along with a manageable safety profile, are impressive. It is also particularly noteworthy that responses were observed across patient subgroups and continued to be maintained at the time of analysis, an important consideration for patients facing a disease where durable disease control remains a critical treatment goal.”
As of May 15, 2026, median duration of follow-up was 25.5 months; clinical activity was observed across combined positive PD L-1 expression levels and p16 subgroups. With more mature follow-up, the median OS was reached (12-month OS rate, 79%), with an ORR of 63%. Median duration of response (mDOR) was not reached, with an estimated 55% of responders maintaining a response at 24 months. Median PFS was 9.0 months (95% CI, 5.2–12.9; 12-month PFS rate, 40%).
The most common treatment-emergent adverse events (TEAEs) (all grade/Grade 3-4) were asthenia (51%/7%), acneiform dermatitis (51%/7%), and rash (49%/2%). Infusion-related reactions occurred in 38% of patients (7% Grade 3-4), and all resolved. No Grade 5 events nor treatment-related deaths were reported.
"These findings strengthen our confidence in petosemtamab’s potential to make a meaningful difference in first-line head and neck cancer,” said Tahamtan Ahmadi, M.D., Ph.D., Executive Vice President and Chief Medical Officer, Head of Experimental Medicines, Genmab. “Seeing responses across both HPV-positive and HPV-negative disease reinforces our ambition to reach a broad patient population and our commitment to advancing the petosemtamab clinical development program.”
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, open-label, multicenter study evaluating petosemtamab as monotherapy and in combination with pembrolizumab across multiple solid tumors, including head and neck squamous cell carcinoma. In the first-line combination arm, 45 patients were treated with 1500 mg of petosemtamab every two weeks plus 400 mg of pembrolizumab every six weeks until disease progression or unacceptable toxicity. The trial includes a first-line combination cohort evaluating petosemtamab plus pembrolizumab, as well as monotherapy cohorts across later lines of therapy. Primary endpoints include objective response rate (ORR) and safety.
About Head and Neck Squamous Cell Carcinoma (HNSCC)
Head and Neck Squamous Cell Carcinoma (HNSCC) is a group of biologically similar cancers that arise from the tissue lining the surfaces of the oral cavity, pharynx and larynx and represent more than 90% of all head and neck cancers.
i
It is the seventh most common cancer globally.
ii
Risk for HNSCC is approximately two to four times higher in men than women.
iii
Treatment options vary depending on individual factors, including the location of the tumor, stage of the tumor, and a person’s overall health.
iii
Despite current treatment options, there remains a high patient need for additional therapies, as approximately 50% of patients with locally advanced HNSCC will experience disease recurrence following initial treatment. Recurrent or metastatic HNSCC is associated with a median overall survival of approximately 10-12 months.
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 conjugate (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
,
X
,
and
.
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
Johnson DE, Burtness B, Leemans CR, Lui VWY, Bauman JE, Grandis JR. “Head and neck squamous cell carcinoma.”
Nat Rev Dis Primers,
2020 Nov 26;6(1):92. doi: 10.1038/s41572-020-00224-3. Erratum in: Nat Rev Dis Primers. 2023 Jan 19;9(1):4. doi: 10.1038/s41572-023-00418-5. PMID: 33243986; PMCID: PMC7944998.
ii
Barsouk A, Aluru JS, Rawla P, Saginala K, Barsouk A. “Epidemiology, Risk Factors, and Prevention of Head and Neck Squamous Cell Carcinoma.”
Med Sci (Basel),
2023 Jun 13;11(2):42. doi: 10.3390/medsci11020042. PMID: 37367741; PMCID: PMC10304137.
iii
Cancer Research Institute. “Head and Neck Cancer a Promising Treatment?” Accessed June 4, 2026.
https://www.cancerresearch.org/immunotherapy-by-cancer-type/head-and-neck-cancer
.
iv
Ionna F, Bossi P, Guida A, Alberti A, Muto P, Salzano G, Ottaiano A, Maglitto F, Leopardo D, De Felice M, Longo F, Tafuto S, Della Vittoria Scarpati G, Perri F. “Recurrent/Metastatic Squamous Cell Carcinoma of the Head and Neck: A Big and Intriguing Challenge Which May Be Resolved by Integrated Treatments Combining Locoregional and Systemic Therapies.”
Cancers (Basel),
2021 May 14;13(10):2371. doi: 10.3390/cancers13102371. PMID: 34069092; PMCID: PMC8155962.
Media Release no. 15
CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122
Genmab A/S
Carl Jacobsens Vej 30
2500 Valby
Denmark
Attachment
261026_MR15_Peto_HNSCC_ESMO2026
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