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Y-mAbs Reports Fourth Quarter 2024 Financial Results and Recent Corporate Developments
YMABY-mAbs(YMAB) GlobeNewswire·2025-03-04 11:35

Core Insights - Y-mAbs Therapeutics, Inc. reported financial results for Q4 and full year 2024, highlighting a total revenue of 26.5millionforQ4and26.5 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 26.5million,a1326.5 million, a 13% increase from 23.4 million in Q4 2023, driven by a 2.0millionincreaseinlicenserevenueanda2.0 million increase in license revenue and a 1.1 million increase in net product revenues [7] - For the full year 2024, total revenues reached 87.7million,upfrom87.7 million, up from 84.8 million in 2023, with a 2.9millionincreaseattributedtolicenseandnetproductrevenues[8]−Thecompanyreportedanetlossof2.9 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 1.0millioninQ42023,andafullyearnetlossof1.0 million in Q4 2023, and a full year net loss of 29.7 million versus 21.4millionin2023[23]BusinessDevelopments−ThecompanyestablishedtwobusinessunitsinJanuary2025tooptimizeresourcesandadvanceitsSADAPRITplatformwhiledrivingDANYELZA′scommercialgrowth[6][5]−Y−mAbsappointedDougGentilcoreasSeniorVicePresident,HeadofDANYELZABusinessUnit,bringingovertwodecadesofexperienceinthepharmaceuticalindustry[6]−ThecompanypresentedpharmacokineticsdataforGD2−SADAatmajorindustryconferences,providinginsightsintotumorexposureandplasmaelimination[6]RevenueBreakdown−U.S.DANYELZAnetproductrevenuesforQ42024were21.4 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 7.7million,up787.7 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 2.5million,includingcontributionsfrompartnersinLatinAmericaandJapan[12][15]−ThecostofgoodssoldforQ42024was2.5 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 18.9million,downfrom18.9 million, down from 21.3 million in Q4 2023 [13][16] Future Guidance - Management provided guidance for 2025, anticipating total revenues between 75millionand75 million and 90 million and total operating costs between 129millionand129 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 25millionand25 million and 30 million [29][24]