Genmab's 9-month 2007 revenues triple

Danish biotechnology firm Genmab AS says that, in the nine months ended September 30, 2007, its revenues totaled 356.1 million Danish kroner ($67.7 million) versus 105.6 million kroner in the comparable period last year, as its operating loss narrowed to 309.0 million kroner from 324.1 million kroner

During the period, the firm's net financial income totalled 47.7 million kroner vs 22.7 million kroner, while net loss reached 261.2 million kroner, down from 301.5 million kroner. The company's loss per share was 5.97 kroner vs 7.79 kroner.

In a note to investors, Lehman Brothers' analyst Peter Welford was surprised that the firm's third-quarter 2007 loss so far exceeded his predictions. For the three months ended September 30, 2007, the firm saw a deficit of 174.0 million kroner vs a consensus estimate of 86.0 million kroner and Lehman Brothers projection of 79.0 million kroner. He noted that this was due to an R&D spend that was 38% greater than he had expected.