Genmab Updates FY24 Revenue Guidance From DKK 18.7B – 20.5B To DKK 20.5B – 21.7B, Reflecting Continued Strong Growth Of DARZALEX And Kesimpta Net Sales

Author: Benzinga Newsdesk | August 08, 2024 11:04am

• Genmab updates its 2024 financial guidance
• Increase in revenue driven by higher royalties and reimbursement revenue
• Increase in operating profit excluding acquisition and integration charges, driven by higher revenue and focused investments
  
  
  
   

COPENHAGEN, Denmark; August 8, 2024 – Genmab A/S (NASDAQ:GMAB) announced today that it is updating its 2024 financial guidance last published on May 2, 2024, following the acquisition of ProfoundBio, Inc. (ProfoundBio). The revised guidance reflects an updated revenue outlook, incremental R&D investment to support the advancement of ProfoundBio's clinical programs, primarily rinatabart sesutecan (Rina-S), as well as acquisition and integration related charges.

Genmab expects its 2024 revenue to be in the range of DKK 20.5 – 21.7 billion, an increase to the previous guidance of DKK 18.7– 20.5 billion, driven by higher royalties and reimbursement revenue. This increase in Genmab's revenue reflects the continued strong growth of DARZALEX® and Kesimpta® net sales.

Posted In: GMAB