Genmab's 9-month 2006 income jumps 57%

Danish drugmaker Genmab AS says that in the nine-month period ended September 30, 2006, its revenues totaled 105.6 million Danish kroner ($17.9 million) versus 45.3 million, in the like, year-ago period, although its operating loss jumped to 324.1 million kroner from 323.0 million kroner due to extra R&D spending.

During the period, the firm's net income totaled 22.7 million kroner vs 29.9 million kroner with a net loss of 301.5 million kroner, up from 293.1 million kroner for the same period in 2005, also reflecting costs in advacing its pipeline.

The firms activities in the third quarter of 2006, included a Phase III pivotal study of HuMax-CD20 (ofatumumab) initiated in 2006 to treat follicular non-Hodgkin's lymphoma. Genmab's fourth pivotal study was announced in September 14 when it initiated a Phase III study in HuMax-EGFr (zalutumumab) to treat patients with head and neck cancer that is considered incurable with standard treatment. On September 22, Genmab completed patient enrollment in a HuMax-CD20 Phase II rheumatoid arthritis study.