Denmark’s Genmab has posted a set of financials in line with expectations which show that revenues rose 37.4% to 136 million Danish kroner ($24 million), while its net loss increased 11.2% to 438 million kroner.

It has been an interesting year for Genmab, which noted that it has “achieved a number of business and scientific milestones.” The most significant was a deal with GlaxoSmithKline that could be worth over £1 billion and covers HuMax-CD20 (ofatumumab), a fully human monoclonal antibody which is in late stage development for CD20 positive B-cell chronic lymphocytic leukaemia and follicular non-Hodgkin's lymphoma and in Phase II for rheumatoid arthritis.

The Danish firm added that it will expand its clinical programmes in 2007 and as a result operating expenses will go up. As a result, it is predicting a net loss in the range of 260-310 million kroner.