Company: GNMSF
Filing Date: 2025-08-07
Form Type: 6-K
Source: 0001434265-25-000063
Chunk: 38

Company: GENMAB A/S
Filing Date: 2025-08-07
Form: 6-K
Chunk 38
---
 rates to gains and losses on marketable securities. These reclassifications have no impact on the net amounts of financial items as presented in Note 6 - Financial Income and Expenses.

To facilitate the comparison of information across periods, a reclassification has been made to a prior period amount for cash (used in) investing activities of $ 11million to conform to the current period’s presentation.

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

Note 2 - Acquisition of Businesses

On May 21, 2024 (Acquisition Date), Genmab completed the previously announced acquisition of all of the outstanding shares of ProfoundBio, resulting in ProfoundBio becoming a wholly owned subsidiary of Genmab. The acquisition of ProfoundBio gave Genmab worldwide rights to threecandidates in clinical development, including ProfoundBio’s lead drug candidate, rinatabart sesutecan (Rina-S). In addition, Genmab acquired ProfoundBio’s novel ADC technology platforms. Rina-S is a clinical-stage, FRα-targeted, TOPO1 ADC, which was in Phase 2 of a Phase 1/2 clinical trial at the time of the acquisition, for the treatment of ovarian cancer and other FRα-expressing solid tumors. Based on the data from the ongoing Phase 1/2 clinical trial Genmab intends to broaden the development plans for Rina-S within ovarian cancer and other FRα-expressing solid tumors. In January 2024, the U.S. FDA granted Fast Track designation to Rina-S for the treatment of patients with FRα-expressing high-grade serous or endometrioid platinum-resistant ovarian cancer.

In addition to payment of $ 1.72billion for all of the outstanding shares of ProfoundBio, Genmab also made a $ 199million payment to holders of outstanding ProfoundBio equity awards for settlement of such vested and non-vested awards. Of the USD $ 199million payment, $ 187million related to the portion of awards where the vesting period was completed prior to the Acquisition Date. This portion of the payment was therefore determined to be attributable to the pre-combination period and included in purchase consideration. The remaining $ 11million payment related to the portion of awards with future vesting conditions, and therefore is attributable to post-combination services. The amount attributable to the post-combination service does not form part of the consideration and was