BioCentury
ARTICLE | Company News

Darzalex guidance buoys Genmab shares

February 23, 2018 10:06 PM UTC

Genmab A/S (CSE:GEN; Pink:GMXAY) gained DKK13.6 billion ($2.3 billion) in market cap across two days of trading after issuing an earnings report that included new 2018 guidance for multiple myeloma (MM) drug Darzalex daratumumab. Based on $2-$2.3 billion in anticipated sales of the drug during 2018 -- well above the 2017 figure of $1.2 billion -- Genmab expects to receive about DKK1.75 billion ($291.3 million) in royalty revenue plus DKK550 million ($91.6 million) in milestones from partner Johnson & Johnson (NYSE:JNJ), which has exclusive, worldwide rights to the drug.

The company released the guidance after market hours Wednesday. Genmab rose 18% on Thursday, then added another DKK41 to DKK1,241 Friday for two-day gains of 22%...

BCIQ Company Profiles

Genmab A/S

Johnson & Johnson

BCIQ Target Profiles

CD38