GENMAB A/S (GMAB) SEC Filings

Genmab A/S (GMAB) reports a small capital increase following the exercise of employee warrants. Share capital will rise by 28,011 new shares, corresponding to approximately 0.04% of the company’s share capital, with total cash proceeds of about DKK 44.3 million to Genmab.

The new ordinary shares, each with a nominal value of DKK 1, are fully paid, freely transferable, and carry dividend and voting rights from subscription. After the increase, Genmab’s total share capital will be 62,405,855 shares, and the new shares are expected to be listed on Nasdaq Copenhagen following registration with the Danish Business Authority.

Genmab A/S (GMAB) is convening an Extraordinary General Meeting on October 7, 2026 to seek shareholder approval of the Board of Directors’ remuneration for 2026 after the prior proposal was withdrawn at the March 19, 2026 annual meeting. The Board proposes that director compensation, including cash fees and share-based pay, remains unchanged from 2024 and 2025 under the existing Remuneration Policy.

Base fees include DKK 600,000 for board members, with the chair receiving 2x and the deputy chair 1.5x that amount, plus specified committee fees and DKK 10,000 per committee meeting. Directors receive restricted stock units, with the chair granted RSUs equal to 3x the base fee and other directors 2.5x. The company reports share capital of DKK 62,377,844, with one vote per DKK 1 share, and outlines detailed registration, proxy and postal voting procedures ahead of the simple-majority vote on the proposal.

Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd report beneficial ownership in Genmab A/S. The reporting persons together beneficially own 3,328,505 Ordinary Shares, consisting of 2,191,689 Ordinary Shares and 11,368,161 ADSs representing 1,136,816 Ordinary Shares.

This position represents 5.3% of Genmab’s outstanding Ordinary Shares. Orbis Investment Management Ltd holds sole voting and dispositive power over 3,320,695 shares, while Allan Gray Australia Pty Ltd holds sole voting and dispositive power over 7,810 shares. Other persons have rights to dividends and sale proceeds associated with these securities. Each reporting person disclaims beneficial ownership of shares reported by the other and states that the joint filing does not constitute a "group" under Section 13(d)(3).

Genmab A/S reports a small capital increase driven by the exercise of employee warrants. Share capital will rise by 24,592 shares, corresponding to approximately 0.04% of the company’s share capital. The warrants were exercised for cash at three strike prices: 4,702 shares at DKK 1,334.50, 2,069 shares at DKK 1,362.50, and 17,821 shares at DKK 1,615.00, generating total proceeds of about DKK 37.9 million for Genmab. The new ordinary shares carry no special rights, are freely transferable, and will participate in dividends and other shareholder rights from subscription. After the increase, total share capital will be DKK 62,377,844, divided into 62,377,844 shares of nominal DKK 1 each. The new shares will be listed on Nasdaq Copenhagen following registration with the Danish Business Authority.

Genmab A/S reported 25% year-on-year revenue growth for the first half of 2026, with revenue of $2,051 million versus $1,640 million, driven mainly by higher DARZALEX and Kesimpta royalties and rising EPKINLY net product sales. Royalty revenue reached $1,708 million, while global EPKINLY/TEPKINLY sales were $312 million and Tivdak $84 million.

Operating profit was $555 million and adjusted operating profit $656 million, compared with $548 million and $554 million, respectively, but net profit declined to $356 million from $531 million as net financial items moved to a $186 million loss following the $5.5 billion Merus acquisition, leaving $5,135 million of borrowings and $174 million of interest expense in the period.

Genmab raised its 2026 outlook, guiding revenue to $4,325–4,525 million and adjusted operating profit to $1,065–1,385 million, primarily on stronger DARZALEX royalties and EPKINLY sales. Clinically, positive Phase 3 results for epcoritamab plus lenalidomide in relapsed/refractory DLBCL and continued advancement of Rina-S and petosemtamab underscore a broad late-stage oncology pipeline.

Genmab A/S reported that worldwide net trade sales of DARZALEX (daratumumab), including the subcutaneous formulation DARZALEX FASPRO, were USD 4,207 million for the second quarter of 2026. Net trade sales were USD 2,435 million in the U.S. and USD 1,772 million in the rest of the world.

Genmab receives royalties on these worldwide net sales of both intravenous and subcutaneous DARZALEX under an exclusive worldwide license granted to Johnson & Johnson’s Janssen Biotech to develop, manufacture and commercialize daratumumab. Genmab is an international biotechnology company focused on innovative antibody medicines for cancer and other serious diseases.

Genmab reported positive topline Phase 3 results from the EPCORE DLBCL-4 trial of epcoritamab plus lenalidomide in adults with relapsed or refractory diffuse large B-cell lymphoma. The combination, given as a fixed-duration, chemotherapy-free regimen, was compared with standard R-GemOx chemoimmunotherapy.

The study met its primary objective, showing a statistically significant and clinically meaningful improvement in progression-free survival. Depending on regional censoring rules, the risk of disease progression or death was reduced by 60% (HR 0.40; 95% CI 0.30–0.55) in the U.S. and 56% (HR 0.44; 95% CI 0.33–0.60) outside the U.S., both with p<0.0001.

The safety profile of epcoritamab plus lenalidomide was consistent with previously known profiles of each drug. Genmab and its partner AbbVie plan to engage global regulators and present detailed data at a future medical meeting, supporting epcoritamab’s potential broader role across B-cell malignancies.