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

Company: GENMAB A/S
Filing Date: 2025-08-07
Form: 6-K
Chunk 25
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 six months of 2024, a decrease of $4 million, or 8%, which is in line with the slight reduction of net sales.

Other royalties consist of royalties from net sales of RYBREVANT, TECVAYLI, TALVEY and TEPKINLY. These royalties were not material for the first six months of 2025 or 2024.

Royalty revenue fluctuations from period to period are driven by the level of product net sales, foreign currency exchange rate movements and more specifically to DARZALEX, the contractual arrangement related to annual Currency Hedge Rate, Genmab’s share of J&J’s royalty payments to Halozyme in connection with SC product net sales and the level of royalty deductions on net sales in countries and territories where there is no patent protection.

#### Reimbursement Revenue
Reimbursement revenue amounted to $36 million in the six months of 2025 compared to $82 million in the first six months of 2024. The decrease of $46 million, or 56%, was primarily driven by Genmab assuming full control of development, as well as future commercialization, of the acasunlimab program, effective in the second half of 2024.

#### Milestone Revenue
Milestone revenue was $13 million in the first six months of 2025 compared to $50 million in the first six months of 2024, a decrease of $37 million, or 74%, primarily driven by an AbbVie milestone achieved in the first six months of 2024 related to the FDA granting Priority Review for the sBLA for EPKINLY for the treatment of adult patients with relapsed or refractory FL after two or more lines of systemic therapy.

Milestone revenue may fluctuate significantly from period to period due to both the timing of achievements and the varying amount of each individual milestone under our license and collaboration agreements.

#### Collaboration Revenue
Collaboration revenue was $37 million in the first six months of 2025 compared to $30 million in the first six months of 2024, an increase of $7 million, or 23%, primarily driven by an increase in net sales of Tivdak.

#### Net Product Sales
Global net sales of EPKINLY/TEPKINLY were $211 million in the first six months of 2025 compared to $121 million in the first six months of 2024, an increase of $90 million or 74%, driven by strong growth