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OLIE OG GAS
11/5 14:56 af Helge Larsen/PI-redaktør |
Jan and David. Are you online?
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11/5 14:57 af Jan Van de Winkel |
yes, we are here. Nice to talk to you.
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11/5 14:58 af Helge Larsen/PI-redaktør |
:-)
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11/5 14:59 af Helge Larsen/PI-redaktør |
Jan van de Winkel and David Eatwell. Welcome to Q & A here on ProInvestor.com. We are very happy to have you back here and ready to answer questions from our investors.
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11/5 14:59 af Jan Van de Winkel |
We are eager to go!
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11/5 15:00 af Helge Larsen/PI-redaktør |
Great. First of all let me just congratulate on the great results for Q1 . Can you give us a short-term update on key figures and important events in Q1?
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11/5 15:00 af Jan Van de Winkel |
David will start with the financials....
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11/5 15:00 af Jan Van de Winkel |
Revenues up 48 percent driven by DARZALEX royalty income....
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11/5 15:00 af Jan Van de Winkel |
expenses up 33 percent, driven by the investment in our pipeline of products....
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11/5 15:01 af Jan Van de Winkel |
revenue growth exceeded expense increase equaling an increase in operating income of 30 mn DKK to 46 mn DKK for Q1....
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11/5 15:01 af Jan Van de Winkel |
cash position 4.8 bn DKK....a great start to the year. Important events ...
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11/5 15:02 af Jan Van de Winkel |
DARZALEX Janssen net sales 255 mn USD....
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11/5 15:02 af Jan Van de Winkel |
up 28 percent to Q4 2016. Launched in 18 EU countries and US...
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11/5 15:03 af Jan Van de Winkel |
Exciting new trials BMS Opdivo, Tecentriq NSCLC, RRMM Dara + POM + d (Apollo), and the start of the Amgen RRMM Dara plus Krypolis + d....
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11/5 15:04 af Jan Van de Winkel |
and approval in important second line MM in Europe, and 48 mn USD milestone.
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11/5 15:04 af Helge Larsen/PI-redaktør |
Can you tell us about your guiding for 2017?
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11/5 15:05 af Jan Van de Winkel |
Revenue guidance for 2017 is around 2 bn DKK....
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11/5 15:05 af Jan Van de Winkel |
Expenses 1 bn DKK leading to operating Income of 1 bn DKK, cash greater than 4.5 bn DKK.
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11/5 15:06 af kkjoel |
Reg. dara royalty-levels: will you down the line, as the various thresholds are exceeded, inform the marked THAT they were exceeded and HOW MUCH the next royalty-%-step is? Or are we for ever destined to guess (which probably WILL come v close to facts).. based on JnJ turnover, approximate dollar-exchange rates, and GENs royalty-income?
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11/5 15:07 af Jan Van de Winkel |
Current royalty is at 12 percent royalty tranche and we expect to step up one tier this year....
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11/5 15:07 af Jan Van de Winkel |
the most significant tier, is that when sales exceed 3 bn USD, the royalty rate to Genmab will be 20%.
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11/5 15:08 af Helge Larsen/PI-redaktør |
Bikube:
“800 million are expected in milestones. What events trigger these”?
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11/5 15:09 af Jan Van de Winkel |
The first milestone has just been achieved with the approval of daratumumab in Europe in second line MM (48 mn USD)....approx. 325 mn DKK...
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11/5 15:09 af Jan Van de Winkel |
future milestones could be triggered by clinical progress in daratumumab development as well as sales milestones.
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11/5 15:09 af bibob |
Mr Winkel. Can you tell us the % of royalty you get from Teprutumumab. ?
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11/5 15:10 af Jan Van de Winkel |
We get mid single digit royalties
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11/5 15:10 af bibob |
Mr. Winkel. Are you coming closer to the next winner on your own , or closer to new partnerships. I Think that we are many who would like to hear about it.
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11/5 15:11 af Jan Van de Winkel |
We are making solid progress with our pipeline, advancing tisotumab vedotin and HuMax-AXL-ADC, as well as....
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11/5 15:12 af Jan Van de Winkel |
HexaBody DR5/DR5 and DuoBody CD3xCD20 towards the clinic.
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11/5 15:12 af bibob |
Mr. Winkel. Are you looking for some small biotek compagnies technologies to take over in the near future. Or maybe make some tech deals with. ( partnerships ) ?
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11/5 15:13 af Jan Van de Winkel |
We are always scanning the landscape for complimentary technologies for Genmab as well as complimentary products that might fit into our pipeline but nothing concrete at this moment.
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11/5 15:14 af Sukkeralf |
I don´t quite understand the impact of the Carina study - so Jan could you please answer these two questions. Were the obtained response rates of a quality that Janssen still plans to start Darzalex combinations studies in MCL, FL or DLBCL ? Have Genmabs peaksale estimations for Darzalex in hematology changed after the Carina study was stopped ?
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11/5 15:15 af Jan Van de Winkel |
The response rates observed were lower than the stringent futility thresholds set...
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11/5 15:15 af Jan Van de Winkel |
which led Janssen to not progress to Part 2 of the trial. However...Studies will be scheduled in hematological cancers by Janssen as well as doctors in multiple blood cancers....
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11/5 15:16 af Jan Van de Winkel |
three blood cancers are already evaluated in dara studies, NKTcell Lymphoma, MDS a
nd AML.
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11/5 15:17 af Bulder |
You have previously said Alcyone data this summer. Now it is late autumn. Why is that?
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11/5 15:18 af Jan Van de Winkel |
The results are based on the number of events and currently it is projected for the end of Q3
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11/5 15:19 af Vester |
A recent lung cancer study (by Limo Chen) shows that CD38 acts a mechanism of resistance in PD-L1 therapy. What are your thoughts about these findings?
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11/5 15:20 af Jan Van de Winkel |
The Chen data are very interesting and are strongly supportive of CD38 being a checkpoint molecule and highlights the potential significance of daratumumab as a immune oncology agent...
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11/5 15:20 af Jan Van de Winkel |
similarly strong data was published in Cell by Dr Chevrier et al....
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11/5 15:21 af Jan Van de Winkel |
for renal cell carcinoma.
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11/5 15:21 af Vester |
When can we expect to learn more about the effects of Dara in combination with Tecentriq in NSCLC?
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11/5 15:21 af Jan Van de Winkel |
We would anticipate data in 2018 as the study is presently active.
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11/5 15:22 af Bulder |
Will results from the dara-ATRA study be announced officially by Genmab?
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11/5 15:23 af Jan Van de Winkel |
It is an ISS study which involves investigators in Amsterdam and Utrecht as well as colleagues in Janssen and will be reported by that team.
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11/5 15:23 af bibob |
When Can we expect news from the ATRA studies. ?
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11/5 15:24 af Jan Van de Winkel |
The study is ongoing, it is up to the team involved to decide on timing for disclosure.
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11/5 15:24 af Bulder |
Do you know how far Cassiopeia has come regarding recruitment?
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11/5 15:24 af Jan Van de Winkel |
The study is progressing well and we will flag up once recruitment is complete.
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11/5 15:25 af Bulder |
Both Alcyone and Maia are for patients who are not candidates for auto-transplant. How big is this non-transplant part compared to the total frontline setting?
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