Genmab A/S at JPMorgan Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: James Gordon - JPMorgan - Analyst : (Event Instructions) Does anyone have a question that you like to start with? Maybe I'll start with a question which just -- so HexaBody-CD38. So can you confirm the data has now gone to J&J? Their clock has already started, is that where we are? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 11:00PM, GMAB.CO - Genmab A/S at JPMorgan Healthcare Conference

Question: James Gordon - JPMorgan - Analyst : And in terms of the different scenarios there, so Change A could opt in or not opt in. But if they were not top in, could you potentially still develop the asset in some areas yourself? And could you even renegotiate with them to have more or freedom to where you develop the asset as well?

Question: James Gordon - JPMorgan - Analyst : And could it potentially be attractive to -- if they were not to opt in to try and renegotiate so that you could try and develop the drug for the same place for some of the places where DARZALEX has been approved?

Question: James Gordon - JPMorgan - Analyst : And maybe just a final one on that theme, which would be some of the other areas that could be interesting. Would you be in a position to say, right, we're really like taking this into clinical development or would it more be we now need to do some very early exploratory trials because you just don't know that much yet about how well it would work, say, outside the DARZALEX indications? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 11:00PM, GMAB.CO - Genmab A/S at JPMorgan Healthcare Conference

Question: James Gordon - JPMorgan - Analyst : And you've trimmed some internal programs, I think, partly because you acquired Rina-S and some funds are going into that. Is that a shape of how things might evolve that emit develop a few less drugs there in turn might be more mixed in terms of internal drugs versus actually bringing in innovation as well?

Question: James Gordon - JPMorgan - Analyst : Maybe another trend is you fully owning an asset yourself rather than being partners. So Rina-S, you're going to own it all. Is that the sign of everything to come now so you won't do partnering? You're going to be -- you want to fully own everything you work on?

Question: James Gordon - JPMorgan - Analyst : And are you still in digest mode with Rina-S? Or if there was something else I know that beyond all these exciting meetings, there's a BD that goes in the background are you meeting new friends as well.

Question: James Gordon - JPMorgan - Analyst : When you are looking at deals, what year are you most focused on? So are you focused on -- which is on the -- does it matter if maybe there is an earnings blip in '29/'30 when DAZLEXroyalty cease and then you might get a bit smaller and then a bit bigger or is the plan to try and find a way to cushion or offset the DARZALEX flow?

Question: James Gordon - JPMorgan - Analyst : And in terms of products that you have already got now, so acasunlimab or was 1046, that is going forward, it has gone forward. But 1042, you haven't yet announced the decision. That's taken a while to make the decision. I saw in your slide you said a decision will be made in '25. So what do you still need to see for GEN1042? What's the missing data point? And what do you need that to show to we're going for that?

Question: James Gordon - JPMorgan - Analyst : At the risk of being -- confirming exactly what you just said the beginning in a patient analysts. But for 104, when do you think you'll have enough duration?

Question: James Gordon - JPMorgan - Analyst : And are you already testing it as an ADC combo -- is that something you still need to start doing?

Question: James Gordon - JPMorgan - Analyst : I don't want Anthony to feel left out. I haven't asked him a question about spend. So when you guide -- I'm not going to ask what the guidance will be, will you guide assuming that you don't have to pay for 1042 and that you're not having to spend extra money or the anything with J&J in terms of renegotiating and then we just see what happens after that? So I think you, to some extent, said the '25 numbers now did make some sense in terms of how the market was thinking about spend, I think you said on the Q3 call. But under what assumptions should that be that we're doing modeling?

Question: James Gordon - JPMorgan - Analyst : Makes sense. I think in essence, it's been a very quick final questions. We'd better wrap it up there. Great. Thank you very much.