Company Announcement - Genmab A/S held its Annual General Meeting on March 19, 2026, where the Board of Directors was constituted, appointing Ms. Deirdre P. Connelly as Chair and Ms. Pernille Erenbjerg as Deputy Chair [1] - The company decided to grant 5,213 restricted stock units and 4,485 warrants to employees and subsidiaries [1] Restricted Stock Units - Each restricted stock unit is awarded cost-free and provides a conditional right to receive one share of Genmab A/S, with a fair value of DKK 1,645.00 per unit [2] - The restricted stock units will vest three years after the grant date, subject to specific vesting conditions [3] Warrants - Each warrant is also awarded cost-free, with an exercise price of DKK 1,645.00, allowing the owner to subscribe to one share of nominally DKK 1 [4] - The fair value of each warrant is calculated at DKK 530.62 using the Black-Scholes formula, and they will vest three years after the grant date, expiring at the seventh anniversary of the grant date [5] Company Overview - Genmab is an international biotechnology company focused on developing innovative antibody medicines for cancer and other serious diseases, with over 25 years of experience [6] - The company has a strong late-stage clinical pipeline and has advanced a range of antibody-based therapeutic formats, including bispecific antibodies and antibody-drug conjugates [6] - Established in 1999, Genmab is headquartered in Copenhagen, Denmark, and has a presence in North America, Europe, and Asia Pacific [7]

Core Insights - 2026 is anticipated to be a significant year for Genmab, particularly regarding its late-stage pipeline [1] - The focus will be on three brands: EPKINLY, Rina-S, and petosemtamab, all of which have received FDA breakthrough therapy designation [1] Company Pipeline - Each of the three brands is expected to provide meaningful data in 2025, which is crucial for investor attention [1] - The FDA breakthrough therapy designation for all three brands highlights their potential in the market [1]

Summary of Genmab FY Conference Call - March 11, 2026 Company Overview - **Company**: Genmab (NasdaqGS: GMAB) - **Key Focus**: Late-stage pipeline products including EPKINLY, Rina-S, and petosemtamab Key Points Industry and Pipeline Developments - **2026 Significance**: A pivotal year for Genmab with multiple important readouts expected from its late-stage pipeline [2][3] - **FDA Breakthrough Therapy Designation**: All three key products (EPKINLY, Rina-S, petosemtamab) have received this designation, enhancing their development prospects [2] EPKINLY - **Upcoming Readouts**: - Potential full approval for refractory DLBCL in the first half of 2026 - Frontline DLBCL readout expected later in 2026 [4][10] - **Confidence in Trials**: High confidence in upcoming trials despite previous monotherapy trial not meeting overall survival endpoints due to confounding factors [5][6] - **Primary Endpoint**: Progression-Free Survival (PFS) is the primary endpoint for the upcoming trials, which is aligned with regulatory expectations [8] - **Commercial Potential**: If successful, EPKINLY could significantly expand its market, potentially reaching an additional 90,000 to 100,000 patients in frontline settings [13] Rina-S - **Key Study**: RAINFOL-01 study for second-line plus ovarian cancer is set to report in the second half of 2026 [22] - **Efficacy Data**: Previous data showed an overall response rate (ORR) exceeding 50%, with confidence in replicating this in upcoming trials [23] - **Market Opportunity**: Combined patient population for ovarian and endometrial cancer is approximately 120,000, with a favorable split [24] Petosemtamab - **Expected Data**: Anticipated readouts from one or two head and neck cancer trials in the second half of 2026 [30] - **Efficacy Metrics**: Previous data indicated a 63% overall response rate when combined with pembrolizumab, significantly higher than pembrolizumab monotherapy [32] - **Future Plans**: Plans to initiate a phase 3 trial in locally advanced head and neck cancer by the end of 2026 [33] Financial Outlook - **Peak Year Sales Estimates**: - EPKINLY: $3 billion+ - Rina-S: $2 billion+ - Petosemtamab: Multi-billion range [41] - **Growth Prospects**: Strong growth anticipated even after the loss of DARZALEX royalties, supported by a robust pipeline and ongoing clinical development plans [42] Operational Strategy - **Market Approach**: Genmab is building its own distribution network in key markets (U.S., Japan, Germany) while considering partnerships in other regions [38] - **Operational Efficiency**: The company is confident in managing operational expenses while scaling its business [39] Competitive Landscape - **Differentiation**: Rina-S is positioned as a potential best-in-class asset with a comprehensive clinical profile and ongoing trials across multiple indications [27][29] Additional Insights - **Thought Leader Feedback**: Positive feedback from thought leaders regarding EPKINLY's PFS data and its potential in combination therapies [7][18] - **Regulatory Engagement**: Ongoing discussions with regulators to ensure alignment on trial endpoints and data expectations [8] This summary encapsulates the critical insights and projections discussed during the Genmab FY conference call, highlighting the company's strategic focus on its late-stage pipeline and the anticipated impact on its market position and financial growth.

Genmab Conference Call Summary Company Overview - **Company**: Genmab (NasdaqGS: GMAB) - **Year**: 2025 was highlighted as a strong year for Genmab, with significant financial growth and advancements in their late-stage pipeline, including three key programs: EPKINLY, Rina-S, and pivekimab [3][4] Financial Performance - **Revenue Growth**: Strong revenue growth was reported, alongside disciplined operational expenditure management, leading to profit flowing to the bottom line [3] - **Pipeline Progress**: The company has three late-stage programs with meaningful clinical data expected to support potential launches in 2027 [4] Key Programs and Commercial Opportunities EPKINLY - **Market Potential**: EPKINLY is viewed as a blockbuster medicine with a potential market opportunity exceeding $3 billion [6] - **Therapeutic Indications**: The program is expanding into earlier lines of therapy, particularly in second-line follicular lymphoma (FL) and diffuse large B-cell lymphoma (DLBCL) [6][8] - **Clinical Data**: Positive performance in initial phases and robust uptake in community settings were noted [8][27] - **Regulatory Timeline**: Expected readouts for frontline DLBCL and second-line DLBCL trials in 2026, with potential regulatory submissions leading to a launch in 2027 [15][16] Rina-S - **Market Potential**: Rina-S has a peak opportunity estimated at over $2 billion, targeting multiple subsegments in gynecologic oncology [9][10] - **Clinical Trials**: Three ongoing phase 3 trials are in progress, with the first registrational readout expected in 2026 [9][10] - **Differentiation**: The program is positioned as potentially best-in-class with differentiated efficacy and safety profiles, allowing for longer durations of therapy [34][35] Pivekimab - **Market Potential**: Pivekimab is also projected to be a multi-billion dollar opportunity, with two ongoing phase 3 trials in head and neck cancer [11][12] - **Regulatory Timeline**: Expected readouts for these trials in 2026, with a potential launch in 2027 [11][12] Commercialization Strategy - **Market Readiness**: Genmab has been building its commercial infrastructure in the U.S., Japan, and Europe, preparing for the launches of Rina-S and pivekimab [18][22] - **Track Record**: The company has successfully launched TIVDAK and EPKINLY, which provides confidence for future launches [24][22] Competitive Landscape - **EPKINLY vs. Competitors**: EPKINLY is positioned to penetrate earlier lines of treatment and gain market share against other CD20 bispecific therapies [25][26] - **Rina-S Differentiation**: Rina-S is expected to outperform existing ADCs in ovarian cancer due to its efficacy across various folate receptor alpha expression levels [34][35] Milestones and Catalysts for 2026 - **Key Readouts**: Two phase 3 readouts for EPKINLY in DLBCL, and the first registrational data for Rina-S and pivekimab are anticipated in 2026, leading to potential launches in 2027 [52][54] - **Focus on Deleveraging**: The company aims to reduce its debt from the acquisition of Merus, targeting a gross leverage ratio of three times or below by the end of 2027 [50][51] Conclusion - Genmab is positioned for significant growth with multiple late-stage programs expected to yield positive clinical data and commercial opportunities in the coming years. The company’s strategic focus on commercialization and market readiness, alongside a strong pipeline, sets a promising outlook for future performance [4][12][54]

Summary of Genmab's Conference Call Company Overview - **Company**: Genmab - **Event**: 46th Annual TD Cowen Healthcare Conference - **Key Speakers**: Anthony Pagano (CFO and Executive VP), Yaron Werber (Biotech Team) Core Industry Insights - **Oncology Focus**: Genmab is heavily invested in oncology, with three late-stage programs: EPKINLY, Rina-S, and pidocentimab, all of which have received FDA Breakthrough Therapy designations [2][3] - **Revenue Growth**: The company is experiencing strong revenue growth, particularly from proprietary products like EPKINLY and TIVDAK, with an increasing percentage of recurring revenue [7][8] - **Future Projections**: Genmab anticipates continued revenue growth into 2026 and beyond, driven by the success of its late-stage programs and a robust internal pipeline [3][4] Financial Performance - **Revenue Profile**: The revenue quality has improved year-over-year, with a notable increase in the contribution from proprietary products [7] - **TIVDAK Performance**: TIVDAK is expected to remain flat in terms of growth, contributing approximately $20 million, while EPKINLY is the primary driver of revenue growth [9][12] - **EPKINLY Sales**: EPKINLY had global sales of DKK 468 million last year, with expectations for growth in 2026, particularly in the second-line follicular lymphoma segment [17][19] Product Pipeline and Launches - **Rina-S and pidocentimab**: Both are expected to have registrational readouts in the second half of 2026, with potential launches in 2027 or 2028 [21][22] - **Market Potential**: Rina-S has a peak sales potential of over $2 billion, while EPKINLY is projected to reach $3 billion [27][31] - **Regulatory Process**: The timeline for product launches will depend on the regulatory process following data readouts [22][23] Debt and Profitability - **Debt Management**: Genmab took on $5.5 billion of debt for the Mirati acquisition and aims to reduce gross leverage to below 3 times by the end of 2027 [39][40] - **Profitability Commitment**: The company is committed to maintaining significant profitability in 2026 and 2027, focusing on efficient investments and operational productivity [40][41] Royalty Contributions - **Royalty Business**: The royalty revenue is primarily driven by DARZALEX and Kesimpta, with expectations for growth in 2026 [58][59] - **Emerging Products**: Tecfidera is expected to contribute positively, although it remains a smaller product in the portfolio [58] Additional Insights - **Synergy Realization**: The acquisition of Mirati is not primarily synergy-driven, but Genmab is looking for productivity improvements across its business [55][56] - **Clinical Trial Dynamics**: The company is open to adjusting clinical trial parameters to enhance outcomes and timelines [24][25] This summary encapsulates the key points discussed during the conference call, highlighting Genmab's strategic focus on oncology, financial performance, product pipeline, and future growth prospects.

Group 1 - The core announcement corrects the reported share price for transactions involving managerial employees and their closely associated persons, stating the correct price is DKK 1,867.50 instead of DKK 0.00 [1] - The company has disclosed transactions made by managerial employees and their closely associated persons in accordance with market regulations [2] - The announcement includes details about the vesting and net settlement of restricted stock units granted to specific executives as part of their annual bonus achievement [3] Group 2 - Genmab is an international biotechnology company focused on developing innovative antibody medicines for cancer and other serious diseases [4] - The company has a strong late-stage clinical pipeline and has advanced a variety of antibody-based therapeutic formats over its 25-year history [4] - Genmab is headquartered in Copenhagen, Denmark, and has a global presence across North America, Europe, and Asia Pacific [5]

Core Viewpoint - Several financial institutions have initiated coverage on various companies with differing ratings and price targets, reflecting a mix of optimism and caution regarding their future performance. Group 1: Netflix (NFLX) - Barclays reinstated coverage with an Equal Weight rating and a price target of $115, suggesting that the stock's valuation may benefit from potential estimates upside as the company divests from Warner Bros. assets, but concerns about the rationale behind the bidding remain [1]. Group 2: Beachbody Company (BODI) - Craig-Hallum initiated coverage with a Buy rating and a price target of $15, highlighting the company's effective cost management during its turnaround and multiple growth initiatives, including the retail launch of Shakeology, P90X, and Insanity products, as well as a new P90X program after 20 years and a fitness program targeting 180 million inactive Americans [1]. Group 3: Forgent Power Solutions (FPS) - Goldman Sachs initiated coverage with a Buy rating and a price target of $48, noting that Forgent is among the few companies capable of providing a complete powertrain to data centers, positioning it to benefit as a marginal supplier of capacity. Other firms like KeyBanc, JPMorgan, and TD Cowen also started coverage with Buy-equivalent ratings, while Morgan Stanley and Baird opted for Neutral-equivalent ratings [1]. Group 4: Bob's Discount Furniture (BOBS) - KeyBanc initiated coverage with an Overweight rating and a price target of $28, indicating a 32% upside potential. The firm views Bob's as a compelling small-cap growth story, with several other institutions also starting coverage with Buy-equivalent ratings, while Goldman Sachs and Baird provided Neutral-equivalent ratings [1]. Group 5: Genmab (GMAB) - Wells Fargo initiated coverage with an Overweight rating and a price target of $40, expressing confidence that the upcoming readouts for Epkinly and petosemtamab are largely de-risked based on Phase 2 data [1].

Company Overview - Genmab A/S is an international biotechnology company focused on improving the lives of patients through innovative antibody therapeutics [2] - Established in 1999, Genmab is headquartered in Copenhagen, Denmark, with a presence in North America, Europe, and Asia Pacific [3] Upcoming Events - Members of Genmab's Executive Committee will participate in investor conferences in March 2026, including: - TD Cowen 46 Annual Healthcare Conference in Boston on March 3, 2026, at 9:10 AM EST - Leerink Global Healthcare Conference in Miami on March 10, 2026, at 8:40 AM EDT - Barclays 28 Annual Global Healthcare Conference in Miami on March 11, 2026, at 1:30 PM EDT [6] Strategic Vision - By 2030, Genmab aims to transform the lives of individuals with cancer and other serious diseases through its proprietary pipeline of next-generation antibody medicines, referred to as "knock-your-socks-off" (KYSO) antibody medicines [2]

Core Insights - Genmab (NASDAQ:GMAB) is identified as a promising growth stock for the next two years, with a reported total revenue growth of 19% in 2025, reaching $3.7 billion [1][4] - The significant revenue increase is attributed to a 54% rise in sales of proprietary medicines, particularly Abkinley, which generated $468 million, marking a 67% year-over-year increase [1][4] - The company’s royalty portfolio, especially Darzalex, is projected to achieve net sales of up to $16.4 billion in 2026 [1] Company Expansion and Developments - Genmab strategically expanded its operations, highlighted by the acquisition of ProfoundBio and its late-stage asset, Rina-S [2] - The company enhanced its clinical pipeline with three new Phase 3 trials and received FDA approval for Abkinley in second-line follicular lymphoma [2] Clinical Trial Outcomes - Genmab faced challenges with the Phase 3 EPCOR DLBCL-1 trial, where it met progression-free survival goals but did not achieve statistical significance for overall survival [4] - Ongoing discussions with regulatory authorities are addressing trial biases, including the effects of COVID-19 and subsequent therapies [4]

Group 1 - The health care sector has identified oversold stocks, presenting potential buying opportunities for undervalued companies [1] - The Relative Strength Index (RSI) is a momentum indicator used to assess stock performance, with a value below 30 indicating that a stock is typically considered oversold [1] - A list of major oversold stocks in the health care sector includes companies with an RSI near or below 30 [2] Group 2 - Schrodinger Inc (NASDAQ:SDGR) has an RSI value of 29.9, indicating it is near the oversold threshold [3] - Schrodinger's stock has decreased approximately 28% over the past month, reaching a 52-week low of $11.15 [3] - On February 18, Schrodinger reported inducement grants under Nasdaq Listing Rule 5635(c)(4), and its shares rose 1.6% to close at $11.81 [3]