Genmab Lifts 2026 Outlook After Revenue Surges 25%; Epcoritamab Clears Key Phase 3 Hurdle
GMAB sits 40% above its 52-week low of $20.995.
Summary
Genmab posted H1 2026 revenue of $2.05B (+25% YoY), raised full-year guidance, and announced positive Phase 3 data for epcoritamab in DLBCL. AbbVie dropped its ITC case on Rina-S.
Key Events · Earnings and Guidance · GMAB
-
Revenue Jumps 25% to $2.05B
First-half 2026 revenue reached $2,051 million, up from $1,640 million a year ago, driven by higher DARZALEX royalties ($1,306M) and EPKINLY net product sales ($242M).
-
Full-Year Guidance Raised
2026 revenue guidance increased to $4,325M–$4,525M (midpoint $4,425M) from $4,065M–$4,395M. Adjusted operating profit midpoint raised to $1,225M from $1,150M.
-
Epcoritamab Phase 3 Win in DLBCL
The EPCORE DLBCL-4 trial met its primary endpoint, showing statistically significant improvement in progression-free survival for epcoritamab plus lenalidomide in relapsed/refractory DLBCL.
-
AbbVie Withdraws ITC Complaint on Rina-S
AbbVie dropped its ITC case seeking to block import of Rina-S, removing a near-term legal overhang. The underlying district court trade secret case will resume.
Analysis · GMAB · Life Sciences
A strong first half saw revenue climb 25% to $2.05 billion, fueled by DARZALEX and Kesimpta royalties alongside growing EPKINLY sales. Management responded by raising the full-year revenue midpoint by roughly $200 million and lifting the adjusted operating profit midpoint to $1.225 billion. The period also delivered a pivotal clinical win: epcoritamab plus lenalidomide met its primary endpoint in relapsed/refractory DLBCL, strengthening the case for label expansion. On the legal front, AbbVie withdrew its ITC complaint on Rina-S, removing a near-term overhang, though the district court case continues. The debt refinancing that cut the interest margin on $1.9 billion of Term B loans adds modest interest savings. For a $17.4 billion biotech, these results reinforce the growth narrative and de-risk the late-stage pipeline.
At the time of this filing, GMAB was trading at $29.29 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $17.4B. The 52-week trading range was $21.00 to $35.43. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.