Genmab (GMAB) said Monday that Johnson & Johnson (JNJ) has chosen not to exercise its option for a global license to develop, produce, and market HexaBody-CD38.
Although the initial HexaBody-CD38 clinical data demonstrated strong efficacy, Genmab has decided not to proceed with further development after evaluating the data, market landscape, and portfolio priorities, the biotechnology company said.
Under the development and option agreement between the companies for HexaBody-CD38, Genmab supplied Johnson & Johnson with data from a clinical proof-of-concept study in multiple myeloma, which included a head-to-head comparison with Darzalex Faspro, the company said.
Shares of Genmab were down more than 7% in recent Monday trading.
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