Genmab Stock Tumbles as Merus Deal Costs Cloud $896 Million Revenue Jump
Genmab shares dropped nearly 10% in Copenhagen after first-quarter net profit fell to $53 million from $195 million, despite a 25% revenue increase to $896 million. Costs from the Merus acquisition and higher R&D spending weighed on results. Operating profit missed analyst estimates, landing at $180 million. The company maintained its 2026 revenue and profit guidance.