Genmab (GMAB): 12,313 Shares Issued After Employee Warrant Exercise — DKK 17.1M Cash, ~0.02% Dilution

Genmab A/S (GMAB) said in the company announcement on Feb. 24, 2026 that it increased its share capital by 12,313 shares after employees exercised warrants, bringing in roughly DKK 17.1 million in proceeds.

GMAB stock chart

GMAB

This is a very small, routine corporate event. The new issue represents approximately 0.02% additional share capital, leaving Genmab with a post-issue nominal share capital of DKK 64,250,721, equal to 64,250,721 shares of DKK 1 each. The issuance was done without preemption rights for existing holders, and the new shares will be listed on Nasdaq Copenhagen once registration is complete. You can read the company announcement for the headline facts.

What this actually means for the stock and the business

Start with the headline math: 12,313 fresh shares on a base of 64.25 million is immaterial in dilution terms. At about 0.02%, this isn’t the kind of capital raise that will shift ownership stakes, voting control, or trigger a re-rating of the shares.

It does, however, deliver cash to the company — modest cash. The company collected roughly DKK 17.1 million from the strikes. That’s a few million dollars at current FX rates, which is meaningful to the people exercising the options but tiny relative to Genmab’s overall balance sheet and market value (the stock closed near $29.30 on Feb. 24, 2026, implying a market value in the neighborhood of $1.8–$2.0 billion).

Why does Genmab do this? Employee warrants and option programs are standard compensation in biotech. They align staff with long-term performance and vest over time. When employees exercise, the business gets modest cash and the employees convert paper gains into shares — both outcomes are expected and routine for a company that develops antibody medicines for cancer and other serious diseases and operates across North America, Europe and Asia Pacific.

The exercise prices were varied — examples in the announcement include strikes at DKK 1,147.50 and DKK 1,615.00 — which reflects different grant vintages and compensation terms. Those numbers show employees are choosing to convert older grants into equity at different points, not that the company is offering a new sweetener to the market.

Technical context for traders

From a trading perspective, this action should not move the needle. The new shares are a rounding error relative to total float and average daily volume. The shares closed around $29.30 on Feb. 24, 2026 and technicals were signaling oversold momentum; a recent trading snapshot shows an RSI around 15.6, and the price sits below both the 20- and 50-day simple moving averages. In plain English: momentum looks stretched to the downside, and the stock is trading below its short- and medium-term trend lines.

That technical backdrop matters more than 12,313 shares. If you’re a short-term trader, watch how the price behaves around those moving averages and whether the oversold condition sparks a bounce. For longer-term holders, this is bookkeeping — a perfunctory equity issuance tied to compensation activity.

Small headline items that still deserve a line in the log

• The issuance was done without preemption rights, meaning existing shareholders weren’t offered the new shares first — standard for employee exercises where the company is converting option strikes into equity.
• New shares will be listed on Nasdaq Copenhagen after registration is processed; that step simply formalizes trading and liquidity for the incrementally larger share pool.
• Proceeds are recorded as cash inflow; they slightly bolster liquidity but won’t materially change financing plans or R&D funding for ongoing antibody programs.

If you want to read the full language used by the company, the announcement includes the exercise breakdown and amounts — see the full announcement text for the line-by-line numbers.

Bottom line: this is administrative, not transformational. The capital increase is real cash for Genmab and it slightly enlarges the share count, but it’s tiny relative to the company’s scale. Traders should care about this only as color; the real drivers of Genmab’s valuation remain clinical data, drug approvals, milestone receipts, and broader biotech sentiment. Keep an eye on the Nasdaq Copenhagen listing confirmation as the final procedural step that makes these new shares indistinguishable in daily trading.