Genmab Announces Financial Results for the First Nine Months of 2024
07 11월 2024 - 1:01AM
November 6, 2024 Copenhagen, Denmark;
Interim Report for the First Nine Months Ended September
30, 2024
Highlights
- European Commission (EC) granted conditional marketing
authorization for
TEPKINLY®
(epcoritamab) as a monotherapy for the treatment of adult
patients with relapsed or refractory follicular lymphoma (FL) after
two or more lines of systemic therapy
- Genmab announced that it will assume sole
responsibility for the continued development and potential
commercialization of acasunlimab
- Genmab revenue increased 29% compared to the first nine
months of 2023, to DKK 15,085 million
- Genmab 2024 financial guidance updated
“The third quarter of 2024 presented Genmab with additional
opportunities to progress towards our goal of fundamentally
transforming the lives of people with cancer and other serious
diseases. The additional approval for TEPKINLY, along with positive
data presentations for our promising late-stage assets acasunlimab
and rinatabart sesutecan (Rina-S), underscore the potential of our
pipeline and our commitment to the development of innovative
antibody-based therapeutics,” said Jan van de Winkel, Ph.D., Chief
Executive Officer of Genmab.
Financial Performance First Nine Months of
2024
- Revenue was DKK 15,085 million for the first nine months of
2024 compared to DKK 11,715 million for the first nine months of
2023. The increase of DKK 3,370 million, or 29%, was primarily
driven by higher DARZALEX® (daratumumab) and Kesimpta® (ofatumumab)
royalties achieved under our collaborations with Janssen Biotech,
Inc. (Janssen) and Novartis Pharma AG (Novartis), respectively, and
increased EPKINLY® (epcoritamab)
net product sales.
- Royalty revenue was DKK 12,367 million in the first nine months
of 2024 compared to DKK 9,722 million in the first nine months of
2023, an increase of DKK 2,645 million, or 27%. The increase in
royalties was driven by higher net sales of DARZALEX and
Kesimpta.
- Net sales of DARZALEX, including sales of the subcutaneous (SC)
product (daratumumab and hyaluronidase-fihj, sold under the
tradename DARZALEX FASPRO® in the U.S.), by Janssen were USD 8,586
million in the first nine months of 2024 compared to USD 7,194
million in the first nine months of 2023, an increase of USD 1,392
million or 19%.
- Total costs and operating expenses were DKK 10,542 million in
the first nine months of 2024 compared to DKK 8,145 million in the
first nine months of 2023. The increase of DKK 2,397 million, or
29%, was driven by the expansion of our product pipeline, including
the addition of ProfoundBio related research and development
expenses, primarily Rina-S, the continued development of Genmab’s
broader organizational capabilities and related increase in team
members to support these activities, as well as profit-sharing
amounts payable to AbbVie Inc. (AbbVie) related to EPKINLY
sales.
- Operating profit was DKK 4,543 million in the first nine months
of 2024 compared to DKK 3,570 million in the first nine months of
2023.
- Net financial items resulted in income of DKK 1,019 million for
the first nine months of 2024 compared to DKK 1,060 million in the
first nine months of 2023.
OutlookGenmab is updating the lower end of its
revenue range of 2024 financial guidance driven by higher total
royalty revenues from DARZALEX. Genmab is also lowering the upper
end of its operating expense range to reflect a continued focused
and disciplined approach to investments and portfolio
prioritization.
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(DKK million) |
Revised Guidance |
|
Previous Guidance |
|
Revenue |
21,100 - 21,700 |
|
20,500 - 21,700 |
|
Royalties |
17,000 - 17,400 |
|
16,600 - 17,400 |
|
Net product sales/Collaboration revenue* |
2,000 - 2,200 |
|
2,000 - 2,200 |
|
Milestones/Reimbursement revenue |
2,100 - 2,100 |
|
1,900 - 2,100 |
|
Gross profit** |
20,200 - 20,800 |
|
19,600 - 20,800 |
|
Operating expenses** |
(13,700) - (14,000) |
|
(13,700) - (14,300) |
|
Including Acquisition & Integration Related Charges |
(14,100) - (14,400) |
|
(14,100) - (14,700) |
|
Operating profit |
6,200 - 7,100 |
|
5,300 - 7,100 |
|
Including Acquisition & Integration Related Charges |
5,800 - 6,700 |
|
4,900 - 6,700 |
*Net Product Sales and Collaboration Revenue consists of EPKINLY
Net Product Sales in the U.S. and Japan and Tivdak (Genmab’s share
of net profits) in the U.S.**Operating Expenses Range excludes Cost
of Product Sales Range, which is included in Gross Profit Range
Conference CallGenmab will hold a conference
call to discuss the results for the first nine of 2024 today,
November 6, 2024, at 6:00 pm CET, 5:00 pm GMT or 12:00 pm EST. To
join the call please use the below registration link. Registered
participants will receive an email with a link to access dial-in
information as well as a unique personal PIN:
https://register.vevent.com/register/BI6db06ed786914762a9dc001f798b7c1b.
A live and archived webcast of the call and relevant slides will be
available at www.genmab.com/investor-relations.
ContactMarisol Peron, Senior Vice President,
Global Communications & Corporate AffairsT: +1 609 524 0065; E:
mmp@genmab.com
Andrew Carlsen, Vice President, Head of Investor RelationsT: +45
3377 9558; E: acn@genmab.com
The Interim Report contains forward looking statements. The
words “believe,” “expect,” “anticipate,” “intend” and “plan” and
similar expressions identify forward looking statements. Actual
results or performance may differ materially from any future
results or performance expressed or implied by such statements. The
important factors that could cause our actual results or
performance to differ materially include, among others, risks
associated with preclinical and clinical development of products,
uncertainties related to the outcome and conduct of clinical trials
including unforeseen safety issues, uncertainties related to
product manufacturing, the lack of market acceptance of our
products, our inability to manage growth, the competitive
environment in relation to our business area and markets, our
inability to attract and retain suitably qualified personnel, the
unenforceability or lack of protection of our patents and
proprietary rights, our relationships with affiliated entities,
changes and developments in technology which may render our
products or technologies obsolete, and other factors. For a further
discussion of these risks, please refer to the risk management
sections in Genmab’s most recent financial reports, which are
available on www.genmab.com and the risk factors included in
Genmab’s most recent Annual Report on Form 20-F and other filings
with the U.S. Securities and Exchange Commission (SEC), which are
available at www.sec.gov. Genmab does not undertake any obligation
to update or revise forward looking statements in the Interim
Report nor to confirm such statements to reflect subsequent events
or circumstances after the date made or in relation to actual
results, unless required by law.
Genmab A/S and/or its subsidiaries own the following trademarks:
Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the
Y-shaped Genmab logo®; HuMax®; DuoBody®; HexaBody®; DuoHexaBody®;
HexElect® and KYSO®; Tivdak® is a trademark of Seagen Inc.;
EPCORE™, EPKINLY®, TEPKINLY® and their designs are trademarks of
AbbVie Biotechnology Ltd.; Kesimpta® and Sensoready® are trademarks
of Novartis AG or its affiliates; DARZALEX®, DARZALEX FASPRO®,
RYBREVANT®, TECVAYLI® and TALVEY® are trademarks of Johnson &
Johnson; TEPEZZA® is a trademark of Horizon Therapeutics Ireland
DAC.
Download the full Interim Report for the First Nine Months of
2024 on attachment or
at www.genmab.com/investor-relations.
CVR no. 2102 3884 LEI Code 529900MTJPDPE4MHJ122
Genmab A/SCarl Jacobsens Vej 302500 Valby Denmark
- 110624_CA60_Genmab 9mo 2024 Interim Report
Gen Digital (NASDAQ:GEN)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Gen Digital (NASDAQ:GEN)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
