Genmab announces ~$510M worth of share buybacks [Seeking Alpha]
Genmab A/S - American Depositary Shares (GMAB)
Company Research
Source: Seeking Alpha
Copenhagen-based Genmab ( GMAB ) said that the buybacks will kick off on March 18, 2024, and run through December 16, 2024, unless it decides to end or suspend the program earlier. The purchase price of buybacks will be either the latest trading price or the highest bidding price where the transaction occurs, whichever is higher. As of March 14, Genmab ( GMAB ) recorded ~864.0K treasury shares, implying ~1.3% of its share capital. The program comes at a time when the shares of the cancer drug developer has lost more than 21% over the past six months, compared to a ~21% gain among biotech stocks, as the performance of the industry benchmark SPDR S&P Biotech ( XBI ) indicates. Recommended For You More Trending News Recommended For You More Trending News About GMAB Stock Related Stocks Trending Analysis Trending News
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- Denmark's Genmab to acquire ProfoundBio for $1.8 billion [Reuters]Reuters