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Genmab Announces Results for the First Nine Months of 2008
Date:10/29/2008

Summary: Genmab Reports Results for the Nine Month Period Ended September

30, 2008

COPENHAGEN, Denmark, October 29 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) announced today results for the nine-month period ended September 30, 2008. During this period, Genmab reported the following results:

Genmab's revenues were DKK 667 million (USD 128 million) for the nine month period ended September 30, 2008. In the same period of 2007, Genmab recognized revenues of DKK 356 million (USD 68 million).

An operating loss of DKK 508 million (USD 97 million). This compares to an operating loss of DKK 309 million (USD 59 million) reported for the corresponding period of 2007. The larger operating loss was driven by the increased level of pre-clinical and clinical activities associated with the advancement of our product pipeline.

Net financial income for the nine month period ended September 30, 2008 reflected a net loss of DKK 18 million (USD 4 million), compared to a net income of DKK 48 million (USD 9 million) in the same period of 2007. The net financial income reflects a combination of interest income and fair market value adjustments on our portfolio of marketable securities and unrealized foreign exchange adjustments. Our net financial income was negatively impacted by the continued international financial credit crisis.

A net loss of DKK 526 million (USD 101 million) compared to a net loss of DKK 261 million (USD 50 million) for the same period in 2007. The net loss per share was DKK 11.81 (USD 2.26) for the first nine months of 2008 compared to DKK 5.97 (USD 1.14) in the first nine months of 2007.

Genmab ended the nine month period with cash and marketable securities of DKK 2.1 billion (USD 402 million), which is a decrease of DKK 1.6 billion (USD 306 million) from the end of 2007. The decrease primarily arises from the DKK 1.2 billion (USD 240 million at the date of acquisition) acquisiti
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SOURCE Genmab A/S
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