Company: GNMSF
Filing Date: 2025-08-07
Form Type: 6-K
Source: 0001434265-25-000063
Chunk: 23

Company: GENMAB A/S
Filing Date: 2025-08-07
Form: 6-K
Chunk 23
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 Genmab A/S (parent company) and its subsidiaries. Management determined it is appropriate to change both the functional currency of the Genmab A/S legal entity and the presentation currency of the condensed consolidated financial statements from DKK to USD effective January 1, 2025. The change in functional currency was triggered by the commercialization of EPKINLY and was made to reflect that USD has become the predominant currency of the Genmab A/S legal entity. The change has been implemented with prospective effect. The change in presentation currency is applied retrospectively and was made to better reflect the Company’s financial position. Comparative figures for prior periods have been restated accordingly. The symbol “$” is used throughout this interim report to refer to the U.S. dollar. The Genmab consolidated Group is referenced herein as “Genmab” or the “Company.”

(In all accompanying tables, amounts of dollars are expressed in millions, except per share amounts, unless otherwise noted).

Revenue Genmab’s revenue was $1,640 million for the first six months of 2025 compared to $1,382 million for the first six months of 2024. The increase of $258 million, or 19%, was primarily driven by higher DARZALEX and Kesimpta royalties achieved under our collaborations with J&J and Novartis, respectively, and increased EPKINLY net product sales. This increase was partly offset by reduced reimbursement revenue associated with Genmab assuming full control of development, as well as future commercialization, of the acasunlimab program, effective in the second half of 2024, as well as a milestone achieved under our collaboration with AbbVie in the first six months of 2024.

|                       |     |     | Three Months Ended 
 June 30,           | 2025 |     |     | 2024 | Six Months Ended 
         June 30, |     | 2025 |       |     | 2024 |       |
|:----------------------|:----|:----|:-------------------|:-----|----:|:----|:-----|-----------------:|:----|:-----|------:|:----|:-----|------:|
| Royalties             |     |     |                    | $    | 789 |     | $    |              659 |     | $    | 1,378 |     | $    | 1,111 |
| Reimbursement revenue |