Genmab(US:GMAB)2022-02-17 06:45Financial Performance & Growth - Genmab achieved a 48% year-over-year (YoY) revenue growth, excluding the AbbVie upfront payment in 2020 [16] - Recurring revenue increased by 48%, driven by higher DARZALEX royalties, which grew from USD 4.190 billion in 2020 to USD 6.023 billion in 2021, a 44% YoY increase [17, 14] - DARZALEX royalties contributed DKK 6.135 billion, a 39% YoY increase [14] - The company anticipates approximately 39% recurring revenue growth in 2022 [25, 30] - Genmab expects revenue between DKK 10.8 billion and DKK 12.0 billion in 2022, with DARZALEX royalties projected between DKK 7.7 billion and DKK 8.5 billion [30] Investments & Pipeline - Operating expenses grew by 44%, reflecting investments in pipeline and capabilities [12, 20] - The company has a strong cash position of approximately USD 3 billion [8] - Genmab plans to initiate new Phase 3 trials for epcoritamab in 2022 [34, 36] - The company has over 30 in-flight clinical trials [25, 34] Strategic Partnerships & Products - Genmab has strategic partnerships with companies like Seagen, AbbVie, and BioNTech SE [5] - Five approved medicines are based on Genmab's innovation and antibody expertise [8] - Tivdak received accelerated approval from the U S FDA [10]