Genmab: offers ADSs to fund drug development

(CercleFinance.com) - Danish biotechnology firm Genmab has set up an American Depositary Shares (ADSs) programme to fund the development of its drug candidates by attracting new US investors.


Genmab announced today that it has commenced a public offering of 27.8 million ADSs, representing 2.78 million of its ordinary shares.

Pricing of the offering is expected to take place next week, the company said.

Founded in 1999, Genmab has developed Darzalex, a myeloma treatment that has been licensed to US giant J&J.

Genmab also has several clinical and pre-clinical products and a number of proprietary next-generation antibody technologies.

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