Genmab Reports Q3 2025 Financial Results
- Genmab's revenue increased 21% to $2,662 million in the first nine months of 2025.
- FDA granted Breakthrough Therapy Designation to Rina-S in advanced endometrial cancer.
- Epcoritamab Phase 3 trial met primary endpoints for ORR and PFS.
- Operating profit rose to $1,007 million, up from $662 million in 2024.
Financial Performance
Genmab reported a 21% increase in revenue, reaching $2,662 million for the first nine months of 2025, compared to $2,198 million in the same period of 2024. This growth was primarily driven by higher royalties from DARZALEX and Kesimpta, as well as increased net product sales of EPKINLY. Royalty revenue rose by 23% to $2,219 million, with DARZALEX net sales increasing by 22% to $10,448 million. Operating profit improved to $1,007 million, up from $662 million in 2024.
Regulatory Developments
The FDA granted Breakthrough Therapy Designation to Rina-S for advanced endometrial cancer. Additionally, the Epcoritamab Phase 3 EPCORE FL-1 trial met its dual primary endpoints of Overall Response Rate (ORR) and Progression-Free Survival (PFS), showing statistically significant and clinically meaningful differences. The FDA also granted priority review for the supplemental Biologics License Application (sBLA) for epcoritamab plus R2 in patients with relapsed or refractory follicular lymphoma.
Strategic Moves
Genmab announced its proposed acquisition of Merus N.V., aiming to add petosemtamab, a late-stage asset with two Breakthrough Therapy Designations, to its portfolio. This acquisition is expected to accelerate Genmab's transition to a wholly owned model, supporting sustained growth into the next decade.
Source: Genmab