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Genmab Q2 Loss Narrows

Denmark-based Genmab A/S (GNMSF.PK), Wednesday reported second-quarter net loss of 2.1 million Danish krone or 0.05 krone per share, compared to 80.6 million krone or 1.79 krone per share last year.

Net earnings from continuing operations for the quarter was 8.0 million krone or 0.18 krone per share, compared to net loss from continuing operations of 71.4 million krone or 1.59 krone per share last year.

Net revenues for the quarter was 111.6 million krone, up from 83.9 million krone last year.

The company net loss for the first half of 2012 was 71.6 million krone or 1.59 krone per share, compared to 191.8 million krone or 4.27 krone per share last year.

Net loss from continuing operations for the period was 51.8 million krone or 1.15 krone per share, compared to 172.7 million krone or 3.84 krone per share last year.

Genmab's revenues for the first half period grew 23 percent to 206 million krone from 167 million krone in the prior year period, driven mainly by higher Arzerra royalties and the achievement of a milestone under our collaboration with GlaxoSmithKline.

by RTTNews Staff Writer

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