Genmab Announces 2004 First Quarter Results
Tuesday May 4, 1:40 pm ET
COPENHAGEN, Denmark, May 4 /PRNewswire-FirstCall/ -- Genmab A/S (CSE: GEN - News) announced today results for the three-month period ended March 31, 2004. During this period, Genmab reported the following results:
-- A Net Loss of DKK 83.5 million (approx. USD 13.7 million) compared to
a Net Loss of DKK 85.5 million (approx. USD 14.0 million) for the same
period in 2003. The Net Loss per share was DKK 3.61 (approx. USD 0.59
per share) in the first quarter of 2004 compared to a Net Loss of DKK
3.76 per share (approx. USD 0.62 per share) in the corresponding
period of 2003.
-- An Operating Loss of DKK 99.0 million (approx. USD 16.3 million).
This compares to an Operating Loss in the corresponding period in 2003
of DKK 94.4 million (approx. USD 15.5 million).
-- Net Financial Income totaled DKK 15.5 million (approx. USD 2.5
million), compared to Net Financial Income of DKK 8.9 million (approx.
USD 1.5 million) in the first quarter of 2003.
-- Genmab ended the first quarter with a cash position of DKK 985.7
million (approx. USD 161.8 million).
Highlights
During the first quarter of 2004, Genmab had a number of business and scientific achievements including:
-- HuMax-CD4 achieved positive interim results in extended Phase II
studies for cutaneous T-cell lymphoma (CTCL).
-- Roche selected two Genmab antibodies as candidates for clinical
development. The antibodies, developed under the collaboration
between Roche and Genmab, are each designed to target a different
disease area.
-- The US Food and Drug Administration (FDA) designated HuMax-CD4 as a
Fast Track Product. The designation covers patients with CTCL who
have failed currently available therapies.
-- Amgen, Inc. presented positive interim data from the ongoing HuMax-
IL15 Phase II study at its R&D Day. HuMax-IL15, designated by Amgen
as AMG 714, shows significant response compared to placebo in the
rheumatoid arthritis study. HuMax-IL15 has been developed by Genmab
under an agreement with Amgen, who is responsible for further
development of HuMax-IL15.
To read Genmab's entire results for the three-month period ended March 31, 2004 please visit: genmab.com.
Conference Call
Genmab will hold a conference call to discuss First Quarter Results Wednesday, May 5 at
3:30pm CET
2:30pm BST
9:30am EDT
The dial-in numbers are as follows:
+1-800-915-4836 (in the US) and ask for the Genmab conference call
+1-973-317-5319 (outside the US) and ask for the Genmab conference call
The conference call will be held in English.
About Genmab A/S
Genmab A/S is a biotechnology company that creates and develops human antibodies for the treatment of life-threatening and debilitating diseases. Genmab has numerous products in development to treat cancer, infectious disease, rheumatoid arthritis and other inflammatory conditions, and intends to continue assembling a broad portfolio of new therapeutic products. At present, Genmab has multiple partnerships to gain access to disease targets and develop novel human antibodies including agreements with Roche and Amgen. A broad alliance provides Genmab with access to Medarex, Inc.'s array of proprietary technologies, including the UltiMAb(TM) platform for the rapidcreation and development of human antibodies to virtually any disease target. Genmab is headquartered in Copenhagen, Denmark, and has operations in Utrecht, The Netherlands, and Princeton, New Jersey in the US. For more information about Genmab, visit www.genmab.com... |
