Loss down on rocketing sales for Genmab

Copenhagen, Denmark-based biotechnology company Genmab narrowed its first-quarter 2009 loss by 5%, year-on-year, on rocketing sales and R&D  cuts.

The firm's net loss fell to 199.2 million Danish kroner ($36.5 million),  or 4.44 kroner per share, versus a loss of 210.5 million kroner, or 4.73  kroner per share. However, as of March 31, the firm had 1.43 billion  kroner in cash and cash equivalents, down 19% on the end of last year.  Fuelling the improvement were sales up 51% to 252.2 million kroner. R&D  expenses were 295.7 million kroner, down 10%.