Genmab — December 2017

[E_L]

it is biotech, it will take time for proof to come through. And maybe it will fail. We dont know yet. That is the risk you take investing in a firm like this. it was the risk also with Dara

[E_L]

Dara certainly is JV, and it made many rich. Many employees, but also some in this chat i would think

[E_L]

And for the next one , it is too early to say

[JørgenVarnæs]

det var +10 år siden vi IND'ede på dara og ofa

[JørgenVarnæs]

ser man over den tidshorisont er det en fornuftig forrentning - men absolut ikke mere

[E_L]

yes, and hopefully an other one will follow soon. What would you like them to do? Close shop and distribute royalties as dividend?

[JørgenVarnæs]

would be nice! Så kan aktionærerne beslutte om de vil sponsorere de store aktieprogrammer som en selvstændig investering. Hvis der virkelig findes knock-your-socks-off udvikling i selskabet burde det være nemt

[JørgenVarnæs]

emissionen på de 10% viser jo med al tydeligehed, at der ikke er styr på udviklingen og finansieringen af den

[E_L]

We both know it isnt going to happen. They will only be able to do their research backed with the capital build from Dara... it is not a realistic scenario, even though hypothetically it could have merit

[JørgenVarnæs]

hvorfor i alverden skulle vi så have en emission?

[E_L]

they have just derisked their shop with Dara, they are not going back lol

[JørgenVarnæs]

Hvorfor i alverden det? Kassebeholdningen er enorm!

[E_L]

i mean i wouldnt

[JørgenVarnæs]

og hvorfor skal vi sponsorere en dyr organisation med dara-baserede aktieprogrammer? Hvorfor skal de ikke belønnes med upside med udgangspunkt i deres eget arbejde?

[E_L]

just for arguments sake; if they could sell dara and distribute that as dividend; how much would you be happy with per share?

[JørgenVarnæs]

er det fordi, at der ikke findes knock-your-socks-off, der kan så selv?

[JørgenVarnæs]

så meget som muligt

[JørgenVarnæs]

Genmab er ikke den rigtige ejer af Dara

[E_L]

no, they can sell their royalty rights, how much do you think that is worth?

[JørgenVarnæs]

så meget som muligt