Salute e Benessere
Genmab Announces Financial Results for the Nine Months of 2025
“In the third quarter we made advances that underscore the potential of our late-stage portfolio; Epcoritamab moved closer to being available to patients in earlier lines of therapy for follicular lymphoma and Rina-S was granted Breakthrough Therapy Designation (BTD) in advanced endometrial cancer. With robust development plans for both epcoritamab and Rina-S and with Tivdak (tisotumab vedotin) now available for prescribing in Germany - our first commercial entry into a European market - we continue to execute on our strategic imperatives to accelerate our late-stage pipeline and maximize our approved medicines to reach more patients,” said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab. “In addition, our proposed acquisition of Merus provides us with the potential to add petosemtamab, a late-stage asset with two BTDs, to our late-stage portfolio. This proposed transaction is expected to meaningfully accelerate our shift to a wholly owned model, driving sustained growth into the next decade and contributing to our evolution into a global biotechnology leader.”
Genmab is maintaining its 2025 financial guidance published August 7, 2025.
Both the functional currency of the Genmab A/S legal entity and the presentation currency of the condensed consolidated financial statements have been changed from DKK to USD effective January 1, 2025. The change in functional currency has been implemented with prospective effect. The change in presentation currency has been implemented with retrospective effect. Comparative figures for prior periods have been restated accordingly.
As disclosed in Company Announcement No. 46, Genmab and Merus announced that the companies entered into a transaction agreement pursuant to which Genmab intends to acquire all the shares of Merus, a clinical-stage biotechnology company with its late-stage breakthrough therapy asset petosemtamab, which is in Phase 3 development, for USD 97.00 per share in an all-cash transaction representing a transaction value of approximately USD 8.0 billion. The transaction is not subject to a financing condition. Consideration is expected to be funded through a combination of cash on hand and approximately $5.5 billion of non-convertible debt financing. Genmab has obtained a funding commitment from Morgan Stanley Senior Funding, Inc. for this amount. The financing package includes a meaningful portion of prepayable debt, in line with Genmab’s commitment to deleveraging with a target of gross leverage <3x within two years after the closing of the proposed transaction. On October 21, 2025, a wholly owned subsidiary of Genmab commenced a tender offer for 100% of Merus’ common shares. The proposed transaction is anticipated to close by early in the first quarter of 2026, subject to the satisfaction of customary closing conditions for similar transactions. In addition to the Company Announcement, further information may be found in Notes 1 and 2, below.
Genmab will hold a conference call to discuss the results for the first nine months of 2025 today, Thursday, November 6, at 6:00 pm CET, 5:00 pm GMT or 12:00 pm EST. To join the call please use the below registration link. Registered participants will receive an email with a link to access dial-in information as well as a unique personal PIN: https://register-conf.media-server.com/register/BI1532cd9886ad43bea2ecd7c91c404a7d. A live and archived webcast of the call and relevant slides will be available at https://www.genmab.com/investor-relations.
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
*ORR = overall response rate; PFS = progression-free survival; sBLA = supplemental Biologics License Application; FDA = U.S. Food and Drug Administration; R = rituximab and lenalidomide; FL = follicular lymphoma; PDUFA = Prescription Drug User Fee Act; BTD = Breakthrough Therapy Designation
Download the full Interim Report for the First Nine Months of 2025 on attachment or at https://www.genmab.com/investor-relations.
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Genmab A/S
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