Genmab makes overall loss in 1st-qtr despite rise in revenue
Danish biotech firm Genmab (OMX: GEN) recorded a loss of $1.8 million in its 1st-qtr 2016 financial results.
This is despite revenue for the quarter rising by 59% compared to the same period in 2015, as it went up from $16.4 million to $26.1 million.
The increase was mainly driven by higher royalty and milestone revenue received by Genmab under its collaboration with Janssen, the European subsidiary of US health care giant Johnson & Johnson (NYSE: JNJ), on the blood cancer drug Darzalex (daratumumab).
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