Genmab reported second-quarter revenue of $1.16 billion, up 25% year over year. Management raised its 2026 revenue guidance by approximately 460 basis points at the midpoint to $4.4 billion and lifted adjusted operating expense guidance by about 250 basis points to $2.9 billion.
Darzalex is entrenched in the standard of care for multiple myeloma, and it is unlikely any competitors will completely displace it due to its robust efficacy and well-tolerated safety profile.
Bears
Large acquisitions and heavier R&D spending increase financial risk if new drugs fail to meet expectations or achieve meaningful commercial uptake.
Genmab is a Copenhagen-based biotechnology company specializing in antibody therapeutics for the treatment of cancer. Genmab’s proprietary antibody technologies are DuoBody, HexaBody, DuoHexaBody, and HexElect. Johnson & Johnson partnered with Genmab to create Darzalex, which is regarded as the standard of care for multiple myeloma and is Genmab’s leading product. Genmab also has Tepezza for thyroid eye disease (partnered with Horizon), Kesimpta for relapsing multiple sclerosis (partnered with Novartis), Rybrevant (partnered with Johnson & Johnson) for non-small cell lung cancer (NSCLC), Tivdak (partnered with Seagen) for cervical cancer, and Epkinly (partnered with AbbVie) for diffuse large B-cell lymphoma. Genmab has several pipeline candidates targeting other oncologic indications.