Year End Results 2003

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Year End Results2003
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Forward Looking Statements
Except for the historical information presented
herein, matters discussed in this presentation
material are forward-looking statements that are
subject to certain risks and uncertainties that
could cause actual results to differ materially
from any future results, performance or
achievements expressed or implied by such
statements, e.g. unforeseen exchange rate and
interest rate fluctuations, delayed or
unsuccessful development projects Statements
that are not historical facts, including
statements preceded by, followed by, or that
include the words believes anticipates
plans expects estimates or similar
statements are forward-looking statements. Genmab
is not under an obligation to up-date statements
regarding the future following the publication of
this presentation material nor to confirm such
statements in relation to actual results, unless
this is required by law.
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Key Figures
USD 1.00 DKK 5.9576 (Danish Central Banks
spot rate on 31 Dec 2003)
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Income StatementFor the 12 month period ended
31/12/03
DKK (mil.) USD (mil.)

• Revenue 68.3 11.5
• Research and development costs (346.0) (58.1)
• General and administrative expenses (64.5)
  (10.8)
• Operating result (342.2) (57.4)
• Net financial income 15.1 2.5
• Net result (327.1) (54.9)

USD 1.00 DKK 5.9576 (Danish Central Banks
spot rate on 31 Dec 2003)
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Balance Sheet31/12/03

• DKK (mil.) USD (mil.)
• Cash and marketable securities 1,035.8 173.9
• Total assets 1,180.1 198.1
• Shareholders' equity 1,086.4 182.4
• Share capital 23.0 3.9

USD 1.00 DKK 5.9576 (Danish Central Banks
spot rate on 31 Dec 2003)
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2003 Guidance
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MilestonesQ4

• Filed IND for HuMax-CD20 to treat Non-Hodgkins
  lymphoma
• Established collaboration with Sanquin Blood
  Supply to improve treatment for hemophilia
  patients
• Presented HuMax-CD20 pre-clinical data at
  American Society of Hematology meeting
• Expanded HuMax-CD4 Phase II CTCL trials

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2003 Milestones

• Amgen opts into HuMax-IL15
• Amgen milestone IL-15 receptor
• Amgen expands Phase II
• Pipeline addition HuMax-HepC
• Initiated HuMax-EGFr Ph I/II
• HuMax-CD20
• Promising primate study
• Filed IND
• Two Roche milestones
• HuMax-CD4 CTCL Ph II interim data

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Building a Business