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Y-mAbs Provides Strategic Business Update and 2025 Priorities
YMABY-mAbs(YMAB) GlobeNewswire·2025-01-10 12:05

Core Insights - Y-mAbs Therapeutics, Inc. has established two business units focused on Radiopharmaceuticals and DANYELZA to enhance operational efficiency and commercial growth [2][3][4] - The company reported preliminary estimated unaudited total net revenue of approximately 88millionfortheyearendedDecember31,2024,aligningwithitsguidancerange[9]−Y−mAbsanticipatesareductioninitsworkforcebyupto1388 million for the year ended December 31, 2024, aligning with its guidance range [9] - Y-mAbs anticipates a reduction in its workforce by up to 13% as part of its business realignment strategy [6] Business Update - The establishment of the two business units aims to optimize internal resources and enhance the advancement of the SADA PRIT platform while driving the commercial growth of DANYELZA [2][3] - The SADA PRIT platform is designed to improve traditional radioimmunotherapy by delivering high therapeutic doses with minimized off-target exposure [5] - DANYELZA is the only FDA-approved treatment for high-risk relapsed/refractory neuroblastoma in patients aged one year and older, launched commercially in 2021 [5] Pipeline Advancement - The GD2-SADA Phase 1 trial has dosed 21 patients, showing a well-tolerated pre-targeting approach with no dose-limiting toxicities reported [7][8] - The company expects to present data from Part A of the GD2-SADA Phase 1 trial in the second quarter of 2025 [12] - The first patient in the CD38-SADA Phase 1 trial is expected to be dosed in the first quarter of 2025 [8][12] Financial Overview - Preliminary estimated unaudited cash, cash equivalents, and marketable securities as of December 31, 2024, are approximately 67 million, expected to support operations into 2027 [9] - The total cash investment for the full year 2024 is estimated at approximately $11 million, below the company's guidance range [9] Upcoming Events - The company will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025 [11] - Full year 2025 guidance is expected to be provided alongside the full year 2024 earnings report in the first quarter of 2025 [12]