Y-mAbs(US:YMAB) Globenewswireยท2025-03-04 11:35Core Insights - Y-mAbs Therapeutics, Inc. reported financial results for Q4 and full year 2024, highlighting a total revenue of $26.5 million for Q4 and $87.7 million for the full year, marking a 13% and 3% increase respectively compared to the previous year [5][8][23] - The company experienced a strategic realignment in January 2025, establishing two business units focused on DANYELZA and Radiopharmaceuticals to enhance clinical development and commercial growth [6][5] - The U.S. DANYELZA net product revenues decreased by 12% in Q4 and 3% for the full year, while international revenues increased significantly by 78% in Q4 and 16% for the full year [9][10] Financial Performance - Total revenues for Q4 2024 were $26.5 million, a 13% increase from $23.4 million in Q4 2023, driven by a $2.0 million increase in license revenue and a $1.1 million increase in net product revenues [7] - For the full year 2024, total revenues reached $87.7 million, up from $84.8 million in 2023, with a $2.9 million increase attributed to license and net product revenues [8] - The company reported a net loss of $6.8 million for Q4 2024, compared to a net loss of $1.0 million in Q4 2023, and a full year net loss of $29.7 million versus $21.4 million in 2023 [23] Business Developments - The company established two business units in January 2025 to optimize resources and advance its SADA PRIT platform while driving DANYELZA's commercial growth [6][5] - Y-mAbs appointed Doug Gentilcore as Senior Vice President, Head of DANYELZA Business Unit, bringing over two decades of experience in the pharmaceutical industry [6] - The company presented pharmacokinetics data for GD2-SADA at major industry conferences, providing insights into tumor exposure and plasma elimination [6] Revenue Breakdown - U.S. DANYELZA net product revenues for Q4 2024 were $16.8 million, down 12% from the previous year, while international revenues were $7.7 million, up 78% [9][10] - The company recognized $2.0 million in license revenue in Q4 2024, with total license revenues for the year at $2.5 million, including contributions from partners in Latin America and Japan [12][15] - The cost of goods sold for Q4 2024 was $7.6 million, leading to a gross profit of $18.9 million, down from $21.3 million in Q4 2023 [13][16] Future Guidance - Management provided guidance for 2025, anticipating total revenues between $75 million and $90 million and total operating costs between $129 million and $134 million [29][25] - The company expects to maintain sufficient cash and cash equivalents to fund operations into 2027, with a total annual cash investment projected between $25 million and $30 million [29][24]