Genmab A/s Stock Earnings Reports

Genmab reported strong first 9 months of 2025 performance: total revenue +21% YoY driven by recurring revenues and product sales (EPKINLY, TIVDAK), operating profit +52%, and ~USD 3.4 billion cash. Key commercial momentum: EPKINLY (global uptake, $333M YTD, dual-indication leader in DLBCL and FL) and TIVDAK ($120M YTD, launched in Germany — first independent European launch). Rina-S (ADC targeting folate receptor alpha) showed durable single-agent activity in advanced endometrial cancer (confirmed ORR 50% at 100 mg/m2, 100% disease control rate at that dose, manageable safety) and has FDA Breakthrough Therapy Designation; multiple Phase III trials ongoing with potential first launch in 2027. EPKINLY has a near-term regulatory milestone with a likely US approval in second-line follicular lymphoma. Genmab announced a proposed acquisition of Merus to add petosemtamab (peto), an EGFR bispecific with two Breakthrough Therapy Designations and Phase III readouts expected in 2026; management expects the deal to close early Q1 2026 (subject to conditions) and sees peto as a potential first-in-class, multibillion-dollar asset with an anticipated 2027 launch. They terminated GEN1042 frontline head & neck development with BioNTech due to insufficient data. Financial guidance: 2025 revenue expected approx. $3.5–$3.7B (midpoint ~15% growth), operating expense guidance ~$2.1–$2.2B, operating profit guidance ~$1.1–$1.4B (midpoint >$1.2B), and recurring revenues ~96% of total to date. Upcoming investor milestones: ASH presentations (epcoritamab data) and a virtual R&D update/ASH data review on December 11.