Genmab A/s Stock Earnings Reports

Genmab reported a strong start to 2026 with total revenue up 25% (Q1) driven by product sales (notably EPKINLY) and royalties (DARZALEX, Kesimpta). Commercial momentum: EPKINLY sales grew 52% YoY to $137M with expanded uptake after label changes that removed mandatory 24-hour post‑dose hospitalization for DLBCL; Tivdak grew 18% to $39M and expansion efforts in Europe/Japan continue. Clinical pipeline: Rina‑S advanced rapidly — RAINFOL‑02 (Phase III, platinum‑resistant ovarian cancer) completed enrollment ahead of schedule and Genmab expects two Rina‑S data readouts in H2 2026; two additional Phase III trials for Rina‑S will start soon (chemo‑replacement in platinum‑sensitive ovarian cancer and first‑line endometrial). Petosemtamab (peto) trials were amended to increase size for higher probability of success but management reiterated this will not change guided readout timing (one or more peto studies expected to read out in 2026). EPKINLY frontline and second‑line DLBCL programs remain on track for readouts in 2026. Financials and guidance: management reiterated 2026 guidance (midpoint ~14% revenue growth), operating expense guidance $2.7–$2.9B to fund late‑stage programs and launch readiness, while still targeting sustained profitability and deleveraging (gross leverage <3x by end of 2027). Integration of Merus is ongoing; acquisition-related costs are excluded from the presented guidance and reported results. Overall messaging: 2026 is described as a catalyst‑rich year with multiple potential pivotal readouts and planned launches in 2027, while management emphasizes disciplined investment, commercialization execution, and balance‑sheet targets.