MedWatch

Genmab beats Q1 expectations and narrows full-year guidance range

The Danish biotech company had a strong first quarter and has increased its minimum revenue guidance for 2022.

Photo: Joost Melis / Genmab / PR

Genmab ended Q1, 2022 with a revenue of DKK 2.1bn (USD 300m) compared to DKK 1.6bn (USD 230m) for the same period last year. The biotech company also reported an EBIT (earnings before interest and taxes) result of DKK 514m (USD 72.7m) compared to DKK 532m (USD 75m) for Q1, 2021.

The company has therefore performed better than analysts had expected, as the consensus estimate prior to the report entailed a first quarter revenue of DKK 2bn (USD 280m) and an EBIT result of DKK 439m (USD 62m).

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