Genmab Reports First Half Revenue Increase

Genmab has reported an increase in revenues of $66m for the first half of 2009, compared to $53m for the same period an year ago. The company also reported an operating loss of $62m, compared to an operating loss of $89m for the corresponding period of 2008.

The income of $3m was reported for the first half of 2009, compared to a loss of $4m in the same period of 2008. Genmab posted a net loss of $60m compared to a net loss of $93m for the same period in 2008. The net loss per share was $1.33 for the first half of 2009, as compared to $2.09 in the first

half of 2008.

Genmab is expecting 2009 revenue to be approximately $142m compared to the previous estimate of $227m. With a continued focus on cost control, the company now anticipate that the operating expenses will be approximately $265.1m, $37.8m below the previous guidance of Dk1.6b.

The company expects a revised operating loss of approximately $123.20m, as compared to the previous guidance of $75.81m. Therefore, it projects a cash balance at the end of the year of approximately $199.01m, $37.91m below the previous guidance.