Genmab Stock Tumbles as Merus Deal Costs Cloud $896 Million Revenue Jump
Genmab A/S dropped roughly 10% in Copenhagen Friday, after the Danish biotech posted a steep first-quarter profit decline. Higher costs from its Merus deal and stepped-up R&D spending canceled out a healthy bump in revenue. Around midday CEST, shares were quoted at 1,586.25 Danish crowns, down 9.8%, Cboe Europe data showed on MarketScreener.