By Julia Fadi Nasser

Genmab shares fell after the Danish biotechnology company reported a fall in net profit that missed market forecasts.

Shares were down 7.3% to 1,630 Danish kroner in midafternoon European trading, leading the Stoxx 600 fallers. They are currently down 20% over the year to date.

The antibody company late Thursday reported a net profit for the first quarter ended March 31 of $53 million compared with $195 million for the comparable period a year earlier.

The fall was partly related to $45 million for acquisition and integration costs related to the Merus deal that completed on Dec. 12. Higher taxes also contributed in the fall.

Jefferies analysts had expected a net profit of $66 million for the quarter.

"We made tangible progress in the first quarter as we continue to integrate Merus and advance our late-stage portfolio," Chief Executive Jan van de Winkel said.

Despite the lower first quarter profit the company maintained its forecast for the year, as guided in February.

It expects to report revenue for the year of $4.065 billion to $4.395 billion and operating profit of $900 million to $1.40 billion.

Revenue for 2025 was $3.72 billion, and came in at $896 million for the first quarter of this year.

Operating profit for the year was $1.065 billion and $180 million for the first quarter.

Write to Julia Fadi Nasser at julia.nasser@wsj.com

(END) Dow Jones Newswires

May 08, 2026 09:01 ET (13:01 GMT)

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