From GlobeNewswire: 2025-03-04 06:35:00

Y-mAbs Therapeutics, Inc. reported revenues of $26.5 million for Q4 2024 and $87.7 million for the full year. The company established two business units to accelerate clinical development and optimize commercial potential. Cash and equivalents totaled $67.2 million as of December 31, 2024. Full Year 2025 guidance includes Total Revenue, Operating Expenses, and Cash Investment figures. A conference call is scheduled for March 4, 2025, at 8:00 a.m. ET.

The company appointed Doug Gentilcore as Senior VP of the DANYELZA Business Unit. Y-mAbs presented data on GD2-SADA at the SNMMI and ACNM Annual Meeting. Interim data from a Phase 2 clinical trial showed naxitamab’s efficacy in high-risk neuroblastoma patients. Y-mAbs entered an exclusive agreement with Nobelpharma for DANYELZA in Japan, receiving an upfront payment of $2.0 million.

Revenues for Q4 2024 were $26.5 million, a 13% increase over Q4 2023. Full year 2024 revenues were $87.7 million, a 3% increase over 2023. U.S. DANYELZA net product revenues decreased, while international revenues increased. The company recognized license revenue of $2.0 million in Q4 2024.

Operating expenses included R&D expenses of $12.2 million for Q4 2024 and $49.0 million for the full year. Selling, general, and administrative expenses were $12.4 million for Q4 2024 and $54.6 million for the full year. Y-mAbs reported a net loss of $6.8 million for Q4 2024 and $29.7 million for the full year.

Cash and cash equivalents amounted to $67.2 million as of December 31, 2024. Total annual cash investment in 2024 was $11.4 million, meeting corporate guidance. For 2025, Y-mAbs expects Total Revenues between $75 million and $90 million and Operating Costs between $116 million and $121 million. The company’s cash position is anticipated to fund operations into 2027. Management also announced guidance for Q1 2025 with expected Total Revenues between $18 million and $21 million.



Read more at GlobeNewswire:: Y-mAbs Reports Fourth Quarter 2024 Financial Results and