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Why Genmab's Stock Is Trading Lower Today

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Why Genmab's Stock Is Trading Lower Today

Genmab (NASDAQ: GMAB) shares are trading lower on Wednesday after the company announced legal arbitration with partner Johnson & Johnson (NYSE: JNJ) over Darzalex royalty payments.

Genmab is a Copenhagen-based cancer drug developer, best known for its antibody technology platforms, DuoBody and HexaBody, and multiple myeloma drug Darzalex (daratumumab), which is partnered with Johnson & Johnson. The company also has several pipeline candidates targeting other oncologic indications and autoimmune diseases.

Genmab shares were trading down 8.8% at $34.84 on Wednesday. The stock has a 52-week high of $38.87 and a 52-week low of $16.24.

 

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