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Jun 30, 2024
Y-mAbs Q2 2024 Earnings Report
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.
Key Takeaways
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.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
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.
Positive Outlook
- Anticipated Total Net Revenues now expected to be between $87 million and $95 million
- Anticipated Operating Expenses expected to remain between $115 million and $120 million
- Anticipated Total Annual Cash Burn expected to remain between $15 million and $20 million
- Cash and Cash Equivalents anticipated to continue to support operations as currently planned into 2027
Historical Earnings Impact
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Avg. Return Before/After Earnings
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