Genmab (Otc) ( (GMAB) ) has released its Q2 earnings. Here is a breakdown of the information Genmab (Otc) presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Genmab, a biotechnology company based in Copenhagen, Denmark, specializes in the development of antibody therapeutics for the treatment of cancer and other serious diseases. The company is known for its proprietary DuoBody technology platform, which is used to create bispecific antibodies.
In the first half of 2025, Genmab reported a 19% increase in revenue, reaching $1,640 million compared to the same period in 2024. This growth was primarily driven by higher royalties from DARZALEX and Kesimpta, as well as increased net product sales of EPKINLY. The company also highlighted significant advancements in its product pipeline, including the submission of a supplemental Biologics License Application (sBLA) for epcoritamab and the launch of Tivdak in Japan.
Key financial metrics for the first half of 2025 included a 24% increase in royalty revenue, amounting to $1,378 million, and a 22% rise in net sales of DARZALEX, which totaled $6,776 million. Operating profit for the period was $548 million, up from $352 million in the first half of 2024. The company also reported a decrease in net financial income due to changes in foreign exchange impacts and lower interest income.
Looking ahead, Genmab has updated its revenue and operating profit guidance for 2025, driven by higher total royalty revenues from DARZALEX. The company expects revenue to be in the range of $3.5 to $3.7 billion and operating profit to be between $1.1 and $1.4 billion. Genmab continues to focus on expanding its innovative pipeline and advancing its strategic priorities to bring its therapies to more patients in need.