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Mar 31, 2022
Y-mAbs Q1 2022 Earnings Report
Y-mAbs reported first quarter financial results, highlighted by a 94% increase in revenue compared to the same quarter last year and progress in the DANYELZA launch.
Key Takeaways
Y-mAbs had a successful first quarter with DANYELZA revenues of $10.5 million, a 94% increase year-over-year. The company anticipates full-year 2022 DANYELZA revenues in the range of $45-50 million and expects its cash and anticipated revenues to support operations into mid-2024.
Net revenues increased by 94% compared to the same quarter of 2021, reaching $10.5 million.
DANYELZA is now delivered to 34 centers across the nation, representing a 20% increase since the end of the fourth quarter of 2021.
Approximately 50% of DANYELZA vials sold in the U.S. are now sold outside Memorial Sloan Kettering (MSK).
The company had approximately $156.7 million in cash and cash equivalents as of March 31, 2022.
Forward Guidance
Y-mAbs anticipates full-year 2022 DANYELZA revenues in the range of $45-50 million. The company expects its cash and anticipated revenues to support operations into mid-2024.
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