UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 6-K


REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF AUGUST 2024


COMMISSION FILE NUMBER 001-38976

Genmab A/S
(Exact name of Registrant as specified in its charter)

Carl Jacobsens Vej 30

2500 Valby

Denmark

+45 70 20 27 28
(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  Form 40-F 

This report on Form 6-K shall be deemed to be incorporated by reference in Genmab A/S’s registration statements on Form S-8 (File No. 333-232693, 333-253519, 333-262970 and 333-277273) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

nthony

GENMAB A/S

BY:

/s/ Anthony Pagano

Name: Anthony Pagano

Title: Executive Vice President & Chief Financial Officer

DATE: August 8, 2024


EXHIBIT INDEX

O

Exhibit

Description of Exhibit

99.1

Company Announcement Dated August 8, 2024: Genmab Updates 2024 Financial Guidance


Exhibit 99.1

Graphic

Genmab Updates 2024 Financial Guidance  

Company Announcement

Genmab updates its 2024 financial guidance
Increase in revenue driven by higher royalties and reimbursement revenue
Increase in operating profit excluding acquisition and integration charges, driven by higher revenue and focused investments

COPENHAGEN, Denmark; August 8, 2024 – Genmab A/S (Nasdaq: GMAB) announced today that it is updating its 2024 financial guidance last published on May 2, 2024, following the acquisition of ProfoundBio, Inc. (ProfoundBio). The revised guidance reflects an updated revenue outlook, incremental R&D investment to support the advancement of ProfoundBio’s clinical programs, primarily rinatabart sesutecan (Rina-S), as well as acquisition and integration related charges.

Genmab expects its 2024 revenue to be in the range of DKK 20.5 – 21.7 billion, an increase to the previous guidance of DKK 18.7– 20.5 billion, driven by higher royalties and reimbursement revenue. This increase in Genmab’s revenue reflects the continued strong growth of DARZALEX® and Kesimpta® net sales.

As previously disclosed in Company Announcement Nos. 26.2024 and 28.2024, following the closing of the ProfoundBio acquisition, Genmab’s operating expenses not including expenses incurred in connection with acquisition and integration charges, were expected to be at or moderately above the upper end of the previously disclosed guidance range of DKK 12.4 – 13.4 billion. Genmab has updated its operating expense range excluding acquisition and integration charges to DKK 13.7 – 14.3 billion. The increase primarily relates to the incremental R&D investment to support the advancement of ProfoundBio’s clinical programs, primarily Rina-S as well as a revenue and expense classification change for programs that remain in Genmab’s collaboration with BioNTech SE (BioNTech). This classification change has resulted in Genmab increasing both cost reimbursement revenue and operating expense by approximately DKK 600 million, resulting in no impact on operating profit. Excluding the DKK 600 million related to the classification change and the acquisition and integration charges, the underlying operating expense range remains within the directional financial guidance provided at the time we announced the ProfoundBio acquisition. Including acquisition and integration related charges, Genmab expects operating expenses for 2024 to be in the range of DKK 14.1 – 14.7 billion.

Genmab now expects its 2024 operating profit excluding acquisition and integration related charges to be in the range of DKK 5.3 – 7.1 billion, compared to the previous guidance of DKK 4.6 – 7.1 billion, primarily driven by the items described above. Including acquisition and integration related charges, Genmab expects operating profit for 2024 to be in the range of DKK 4.9 – 6.7 billion.

Revised

Revised

Guidance

Guidance

(DKK million)

ex. Acquisition and Integration related charges

incl. Acquisition and Integration related charges

Previous Guidance

Revenue

20,500 - 21,700

20,500 - 21,700

18,700 - 20,500

Royalties

16,600 - 17,400

16,600 - 17,400

15,600 - 16,700

Net product sales/Collaboration revenue*

2,000 - 2,200

2,000 - 2,200

1,700 - 2,200

Milestones/Reimbursement revenue

1,900 - 2,100

1,900 - 2,100

1,400 - 1,600

Gross profit**

19,600 - 20,800

19,600 - 20,800

18,000 - 19,500

Operating expenses**

(13,700) - (14,300)

(14,100) - (14,700)

(12,400) - (13,400)

Operating profit

5,300 - 7,100

4,900 - 6,700

4,600 - 7,100

*Net Product Sales and Collaboration Revenue consists of EPKINLY Net Product Sales in the U.S. and Japan and Tivdak (Genmab’s share of net profits) in the U.S.
**Operating Expenses Range excludes Cost of Product Sales Range, which is included in Gross Profit Range

Genmab A/S

Tel: +45 7020 2728

Company Announcement no. 52

Carl Jacobsens Vej 30

Fax: +45 7020 2729

Page 1/2

2500 Valby, Denmark

www.genmab.com

CVR no. 2102 3884

LEI Code 529900MTJPDPE4MHJ122


Graphic

Genmab Updates 2024 Financial Guidance

Genmab’s financial results for the first six months of 2024 will be published immediately following the publication of this Company Announcement, on August 8, 2024.

The above expectations are based on assumptions including those described on pages 5 and 6 of the Interim Report for the first quarter of 2024 (Company Announcement No. 33/2024).

About Genmab 
Genmab is an international biotechnology company with a core purpose of guiding its unstoppable team to strive toward improving the lives of patients with innovative and differentiated antibody therapeutics. For 25 years, its passionate, innovative and collaborative team has invented next-generation antibody technology platforms and leveraged translational, quantitative and data sciences, resulting in a proprietary pipeline including bispecific T-cell engagers, antibody-drug conjugates, next-generation immune checkpoint modulators and effector function-enhanced antibodies. By 2030, Genmab’s vision is to transform the lives of people with cancer and other serious diseases with knock-your-socks-off (KYSO®) antibody medicines. 

 

Established in 1999, Genmab is headquartered in Copenhagen, Denmark, with international presence across North America, Europe and Asia Pacific. For more information, please visit Genmab.com and follow us on LinkedIn and X.

Contact:
Marisol Peron, Senior Vice President, Global Communications & Corporate Affairs

T: +1 609 524 0065; E: mmp@genmab.com

Andrew Carlsen, Vice President, Head of Investor Relations

T: +45 3377 9558; E: acn@genmab.com


This Company Announcement contains forward looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with preclinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.com and the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.


Genmab A/S and/or its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®; HexaBody®; DuoHexaBody®, HexElect® and KYSO®; Tivdak® is a trademark of Seagen Inc.; EPKINLY® and its design are trademarks of AbbVie Biotechnology Ltd.; Kesimpta® is a trademark of Novartis AG or its affiliates; DARZALEX® is a trademark of Johnson & Johnson.

Genmab A/S

Tel: +45 7020 2728

Company Announcement no. 52

Carl Jacobsens Vej 30

Fax: +45 7020 2729

Page 2/2

2500 Valby, Denmark

www.genmab.com

CVR no. 2102 3884

LEI Code 529900MTJPDPE4MHJ122



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