Genmab cuts guidance after Arzerra data

Genmab A/S (CSE:GEN) said top-line data from a Phase III trial of Arzerra ofatumumab to treat refractory follicular non-Hodgkin's lymphoma (NHL) did not reach a level that would trigger a milestone payment from partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). As a result, Genmab lowered its 2009 revenue guidance to DKK750 million ($142 million) from DKK1.2 billion ($228 million), primarily to exclude the payment.

Data from the international study in 116 rituximab-refractory patients showed that 1,000 mg of Arzerra led to an overall response rate (ORR) of 10%, including one complete response and eight partial responses, plus 43 cases of stable disease at six months. The median durations of survival and progression-free survival (PFS) were each six months in the 1,000 mg Arzerra arm. ...