10 Worst Performing Biotech Stocks in 2024

7. Genmab A/S (NASDAQ:GMAB)

YTD Return: -27.89% 

Genmab A/S (NASDAQ:GMAB) is a Danish biotechnology company that specializes in developing antibody therapeutics for cancer and other serious diseases. The company’s core business revolves around creating innovative antibody-based medicines using its proprietary technology platforms, including DuoBody, HexaBody, and DuoHexaBody.

Genmab (NASDAQ:GMAB) has over 20 partnerships with leading biotech and pharmaceutical companies, boosting its ability to develop new therapies. In August, the European Commission granted conditional approval for TEPKINLY (epcoritamab), a first-of-its-kind bispecific antibody for relapsed or refractory follicular lymphoma. Genmab aims to revolutionize cancer treatment with its innovative antibody medicines by 2030.

In July, the U.S. FDA approved Genmab’s EPKINLY (epcoritamab-bysp) for adults with relapsed or refractory follicular lymphoma (FL) after two or more systemic therapies. It’s the first subcutaneous T-cell engaging bispecific antibody approved for FL in the U.S., with an 82% overall response rate and 60% complete response in trials. EPKINLY is also approved for diffuse large B-cell lymphoma, positioning it as a key therapy for B-cell malignancies.

As of Q3 2024, 14 hedge funds in the Insider Monkey database held shares in Genmab (NASDAQ:GMAB). The largest stakeholder in the stock was Renaissance Technologies with stakes worth over $43.5 million.