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Mar 31, 2020
Y-mAbs Q1 2020 Earnings Report
Reported first quarter 2020 financial results, highlighted by the progress on BLA submissions for naxitamab and omburtamab, and a new licensing agreement for the SADA technology.
Key Takeaways
Y-mAbs reported a net loss of $26.2 million for the first quarter of 2020, compared to a net loss of $15.9 million for the same period in 2019. The company's cash and cash equivalents decreased by $21.4 million during the quarter, primarily due to increased operational costs associated with BLA submissions and commercial infrastructure build-up.
Net loss for the first quarter of 2020 was $26.2 million, or $0.66 per share.
Research and development expenses increased to $18.6 million.
General and administrative expenses increased to $8.1 million.
Cash and cash equivalents totaled $185.8 million as of March 31, 2020.
Forward Guidance
This press release contains forward-looking statements regarding future expectations, plans and prospects, including statements about business model and development and commercialization plans; current and future clinical and pre-clinical studies and research and development programs; and potential adverse affects on business, financial condition and results of operations from the global COVID-19 pandemic.
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