EPKINLY

Search documents
Genmab Announces Financial Results for the First Half of 2025
Globenewswire· 2025-08-07 15:08
Core Insights - Genmab has made significant progress in its strategic priorities, focusing on expanding access to innovative therapies and maximizing the potential of its commercialized medicines [2] - The company has updated its revenue and operating profit guidance for 2025, driven by increased royalty revenues from DARZALEX [4] Financial Performance - Revenue for the first half of 2025 reached $1,640 million, a 19% increase from $1,382 million in the same period of 2024, primarily due to higher royalties from DARZALEX and Kesimpta, as well as increased EPKINLY net product sales [6][7] - Royalty revenue was $1,378 million in the first half of 2025, up 24% from $1,111 million in the first half of 2024, attributed to higher net sales of DARZALEX and Kesimpta [7] - Operating profit for the first half of 2025 was $548 million, compared to $352 million in the first half of 2024 [7] 2025 Full Year Outlook - Revised revenue guidance for 2025 is set between $3,500 million and $3,700 million, with a midpoint of $3,600 million, an increase from the previous guidance of $3,340 million to $3,660 million [5] - Royalties are expected to be between $2,945 million and $3,090 million, with a midpoint of $3,017 million, up from the previous guidance of $2,785 million to $3,015 million [5] - Net product sales/collaboration revenue is projected to be between $425 million and $465 million, with a midpoint of $445 million [5] Pipeline Developments - Epcoritamab is advancing to earlier lines of therapy with a supplemental Biologics License Application (sBLA) submitted to the FDA for use in patients with relapsed or refractory follicular lymphoma [6] - Rina-S continues to show promising antitumor activity in endometrial cancer, with data presented at the 2025 ASCO Annual Meeting [6] Other Matters - Genmab has changed its functional currency and presentation currency from DKK to USD effective January 1, 2025, with retrospective adjustments made to prior periods [9]
Genmab Announces Financial Results for the First Quarter of 2024
Globenewswire· 2025-05-08 15:01
Core Insights - Genmab demonstrated significant progress in advancing its late-stage programs, with EPKINLY and Tivdak receiving approvals in additional territories, and Rina-S showing potential as a treatment for advanced ovarian cancer [2][7] Financial Performance - Genmab reported a revenue increase of 19% in Q1 2025, reaching $715 million compared to $603 million in Q1 2024, driven by higher royalties from DARZALEX and Kesimpta, as well as EPKINLY net product sales [7][8] - Royalty revenue rose to $589 million in Q1 2025, up 30% from $452 million in Q1 2024, attributed to increased net sales of DARZALEX and Kesimpta [8] - Net sales of DARZALEX reached $3,237 million in Q1 2025, a 20% increase from $2,692 million in Q1 2024 [8] - Total costs and operating expenses were $527 million in Q1 2025, an 8% increase from $487 million in Q1 2024, primarily due to product pipeline expansion and profit-sharing with AbbVie [8] - Operating profit for Q1 2025 was $188 million, compared to $116 million in Q1 2024 [8] - Net financial items resulted in income of $56 million in Q1 2025, down from $133 million in Q1 2024, mainly due to foreign exchange impacts from the change in functional currency [8] Outlook - Genmab is maintaining its 2025 financial guidance as published on February 12, 2025 [4] Other Matters - The functional currency of Genmab A/S has changed from DKK to USD effective January 1, 2025, with the presentation currency also changed to USD, affecting comparative figures for prior periods [5]