Genmab slides after Q1 2026 report shows higher costs despite 25% revenue growth
Genmab reported Q1 2026 results today (May 7, 2026), with revenue up 25% year over year to $896 million while operating profit edged down to $180 million. The report maintained full-year 2026 guidance, but higher operating expenses and acquisition/integration charges weighed on sentiment.
1. Same-day catalyst (May 7, 2026)
Genmab published its first-quarter 2026 financial results on May 7, 2026, and held a same-day conference call scheduled for 12:00 pm EDT. The update is a concrete, dated event that can drive same-day trading in the ADR.
2. What stood out in the release
Revenue rose to $896 million (+25% year over year), driven mainly by higher DARZALEX and Kesimpta royalties and higher EPKINLY net product sales. Despite the topline growth, operating profit was $180 million versus $188 million a year ago, alongside higher operating expenses and acquisition/integration-related charges.
3. Why the stock could be down today
The quarter showed cost pressure: operating expenses (excluding acquisition/integration charges) increased, and the company recorded acquisition and integration-related charges tied primarily to the Merus acquisition. Even with guidance maintained, investors may have focused on the profit/margin cadence and elevated spending and integration costs.