Genmab stock falls despite H1 revenue rise

Investing.com -- Genmab A/S reported first-half 2026 revenue of $2.05 billion, up 25% YoY from $1.64 billion in the same period last year, though shares fell 2.6% following the announcement on Thursday.

The Danish biotechnology company's revenue growth was primarily driven by higher DARZALEX and Kesimpta royalties and increased EPKINLY net product sales. Royalty revenue reached $1.708 billion, up 24% from $1.378 billion in the first half of 2025. Global net sales of EPKINLY/TEPKINLY surged 48% to $312 million from $211 million YoY.

Adjusted operating expenses rose 28% to $1.27 billion from $993 million, driven by investments in the product pipeline, including advancement of Rina-S and petosemtamab, and expansion of global commercialization capabilities. Adjusted operating profit increased to $656 million from $554 million in the prior-year period.

"The second quarter of 2026 delivered clinical progress for our late-stage portfolio. Epcoritamab continued to demonstrate its potential as a core therapy across the spectrum of B-cell malignancies," said Jan van de Winkel, Chief Executive Officer of Genmab.

The company raised its full-year 2026 revenue guidance to a range of $4.325 billion to $4.525 billion, with a midpoint of $4.425 billion, up from the previous range of $4.065 billion to $4.395 billion. The improved outlook reflects higher total royalty revenues from DARZALEX and net sales of EPKINLY.

Genmab also updated its adjusted operating profit guidance to a range of $1.065 billion to $1.385 billion, with a midpoint of $1.225 billion, compared to the previous range of $900 million to $ 1400 billion.

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