Y-mAbs Therapeutics Inc · Q2 2024 earnings

Briefing

Y-mAbs reported mixed results for Q2 2024. Total DANYELZA net product revenues increased by 10% YoY, driven by international revenues. The company is progressing with its clinical trials and appointed a new CFO and Chief Development Officer.

Y-mAbs Therapeutics reported a 10% increase in total DANYELZA net product revenues for Q2 2024, reaching $22.8 million. The growth was primarily driven by increased international revenues, while U.S. revenues saw a slight decline. The company is advancing its clinical trials and expects to complete Part A of its GD2-SADA Phase 1 trial in Q4 2024. Management reiterates anticipated cash runway into 2027.

• Total DANYELZA net product revenues reached $22.8 million, a 10% increase year-over-year.
• International DANYELZA revenues increased by 55%, driven by growth in Western Europe and launches in Brazil and Mexico.
• U.S. DANYELZA revenues slightly declined by 4% due to competition and clinical trial activities.
• The company anticipates cash runway into 2027.

Headline financials

Revenue & EPS history

Management updates its full year 2024 guidance with anticipated total net revenues expected to be between $87 million and $95 million, operating expenses between $115 million and $120 million, total annual cash burn between $15 million and $20 million, and cash and cash equivalents anticipated to continue to support operations as currently planned into 2027.