Genmab: raises 2017 financial guidance again.
(CercleFinance.com) - Biotech firm Genmab has once again raised its 2017 financial guidance on Wednesday evening, after receiving another milestone payment from US-based partner Janssen.
Copenhagen-based Genmab, which develops antibody therapeutics for the treatment of cancer, said Janssen Biotech has triggered a 20 million dollar payment, based on progress made in a Phase III study.
The move relates to progress in the ongoing study of daratumumab in amyloidosis.
Genmab said it now expected to deliver operating income of between 1.19 billion and 1.39 billion Danish kronor, up from a previous forecast range of 1.06-1.26 billion kronor.
The company already raised its 2017 financial guidance two weeks ago after receiving a milestone payment for first commercial sale of daratumumab in Japan.
As a result, its shares were up slightly, rising 0.4% to 1,205 Danish kronor.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Copenhagen-based Genmab, which develops antibody therapeutics for the treatment of cancer, said Janssen Biotech has triggered a 20 million dollar payment, based on progress made in a Phase III study.
The move relates to progress in the ongoing study of daratumumab in amyloidosis.
Genmab said it now expected to deliver operating income of between 1.19 billion and 1.39 billion Danish kronor, up from a previous forecast range of 1.06-1.26 billion kronor.
The company already raised its 2017 financial guidance two weeks ago after receiving a milestone payment for first commercial sale of daratumumab in Japan.
As a result, its shares were up slightly, rising 0.4% to 1,205 Danish kronor.
Copyright (c) 2017 CercleFinance.com. All rights reserved.