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Genmab Announces 2008 First Half Year Results
Date:8/27/2008

Summary: Genmab Reports Results for the Six Month Period Ended June 30,

2008

COPENHAGEN, August 27 /PRNewswire-FirstCall/ -- Genmab A/S (OMX: GEN) announced today results for the six month period ended June 30, 2008. During this period, Genmab reported the following results:

Genmab's revenues were DKK 277 million (USD 59 million) for the first half of 2008. In the same period of 2007, Genmab recognized revenues of DKK 280 million (USD 59 million).

An operating loss of DKK 471 million (USD 100 million). This compares to an operating loss of DKK 119 million (USD 25 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 first half of 2008 reflected a net loss of DKK 20 million (USD 4 million), compared to a net income of DKK 32 million (USD 7 million) in the same period of 2007. The net financial income reflects a combination of interest income and fair market value adjustments from our portfolios of marketable securities and unrealized foreign exchange losses derived from the continued weakening of the USD against the DKK in the first half of 2008.

A net loss of DKK 491 million (USD 104 million) compared to a net loss of DKK 87 million (USD 18 million) for the same period in 2007. The net loss per share was DKK 11.02 (USD 2.33) for the first half of 2008 compared to DKK 2.01 (USD 0.42) in the first half of 2007.

Genmab ended the six month period with cash and marketable securities of DKK 2.1 billion (USD 443 million), which is a decrease of DKK 1.6 billion (USD 338 million) from the end of 2007. The decrease primarily arises from the DKK 1.2 billion (USD 240 million at the date of acquisition) acquisition of the manufacturing facility in March 2008.

Highlights

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SOURCE Genmab A/S
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