Genmab A/S (GMAB) shares plummeted 5.90% in intraday trading on Thursday following the release of its first-quarter 2025 financial results. Despite reporting a 19% year-over-year increase in revenue to $715 million, investors seemed unimpressed, leading to a significant sell-off.

The biotechnology company highlighted several positive developments in its report. These included the approval of EPKINLY for an additional indication in Japan, encouraging data for Rinatabart sesutecan in advanced ovarian cancer, and the approval of Tivdak in Japan and the European Union. However, these achievements were overshadowed by market reaction to the financial figures.

While Genmab's revenue growth was substantial, driven by higher royalties from DARZALEX and Kesimpta, as well as EPKINLY net product sales, the market's negative response suggests that expectations may have been even higher. The company's operating profit increased to $188 million from $116 million in the same period last year, but this 62% growth apparently fell short of analyst predictions. Additionally, the decrease in net financial items from $133 million to $56 million, primarily due to changes in foreign exchange impacts, might have contributed to investor concerns.