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Sep 30, 2024
Y-mAbs Q3 2024 Earnings Report
Y-mAbs reported third quarter results with a focus on DANYELZA commercial business and SADA PRIT platform development.
Key Takeaways
Y-mAbs reported total net revenues of $18.5 million for Q3 2024, a 10% decrease compared to Q3 2023. The company continues to focus on DANYELZA commercial business and SADA PRIT platform development.
Total DANYELZA net product revenues were $18.5 million for Q3 2024.
Entered into an exclusive license and distribution agreement with Nobelpharma for DANYELZA in Japan, recognizing an upfront payment of $2.0 million in Q4 2024.
Extension of primary DANYELZA U.S. patent through February 2034 was achieved.
Continued geographic expansion of DANYELZA with new market revenues recorded in the third quarter from Turkey.
Y-mAbs
Y-mAbs
Forward Guidance
Management reiterates its full year 2024 guidance.
Positive Outlook
- Anticipated Total Net Revenues 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 Investment expected to remain between $15 million and $20 million.
- Cash and Cash Equivalents anticipated to continue to support operations as currently planned into 2027.