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Genmab Q2 profit up YOY

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Genmab Q2 profit up YOY

Genmab A/S more than doubled its second-quarter operating profit year over year.

Earnings excluding some items, which the company calls operating result, were 536.4 million Danish kroner, up from 141.8 million Danish kroner in the same period of 2016.

Genmab bagged 773.3 million kroner in revenues, up from 353.8 million kroner a year earlier. Genmab's results were mainly driven by the royalties and milestone payments from its cancer drug DARZALEX.

Genmab continues to target full-year operating income of between 900 million kroner and 1.10 billion kroner; revenue is expected to be in the range of 1.95 billion kroner to 2.15 billion kroner.

On a reported basis, second-quarter net income of 307.3 million kroner compared to 168.2 million kroner in the same period of 2016.

As of Aug. 8, US$1 was equivalent to 6.34 Danish kroner.