Summary: Genmab Reports Results for the Nine Month Period Ended September
Genmab, October 30 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) announced today results for the nine month period ended September 30, 2007, as follows:
Revenues of DKK 356.1 million (approx. USD 67.7 million) for the nine month period ended September 30, 2007. In the same period of 2006, Genmab recognised DKK 105.6 million (approx. USD 20.1 million) in revenues.
An Operating Loss of DKK 309.0 million (approx. USD 58.8 million). This compares to an Operating Loss of DKK 324.1 million (approx. USD 61.7 million) reported for the corresponding period of 2006.
Net Financial Income totalled DKK 47.7 million (approx. USD 9.1 million), compared to Net Financial Income of DKK 22.7 million (approx. USD 4.3 million) in the nine month period ended September 30, 2006. Net financial income has benefited from the higher average cash position in 2007.
A Net Loss of DKK 261.2 million (approx. USD 49.7 million) compared to a Net Loss of DKK 301.5 million (approx. USD 57.3 million) for the same period in 2006. The Net Loss per share was DKK 5.97 (approx. USD 1.14) for the nine month period ended September 30, 2007 compared to DKK 7.79 (approx. USD 1.48) in the nine month period ended September 30, 2006.
Genmab ended the nine month period with a cash position of DKK 3.921 billion (approx. USD 746 million), which is a net increase of DKK 2.197 billion (approx. USD 417.9 million) from the end of 2006.
During the third quarter of 2007, Genmab achieved a number of business and scientific milestones, including:
Regaining all rights to the HuMax-TAC(TM) antibody from Merck Serono following a portfolio review.
Roche filing an investigational new drug application (IND) with the FDA for a Genmab antibody.
Initiation of a Phase III clinical study of HuMax-EGFr(TM)
(zalutumumab) to treat front li
|SOURCE Genmab A/S|
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