Y-mAbs Therapeutics Inc (NAS:YMAB)
$ 14 0.43 (3.17%) Market Cap: 623.98 Mil Enterprise Value: 528.28 Mil PE Ratio: 0 PB Ratio: 6.54 GF Score: 54/100
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Q1 2024 Y-mAbs Therapeutics Inc Earnings Call Transcript

May 08, 2024 / 12:00PM GMT
Release Date Price: $13.61 (-20.92%)

Key Points

Positve
  • Y-mAbs Therapeutics Inc reported an 11% increase in U.S. net product sales of DANYELZA, reaching $18.6 million in Q1 2024 compared to the previous year.
  • The company has successfully expanded its U.S. commercial footprint, activating 63 sites across the U.S. with five new accounts added in Q1 2024.
  • DANYELZA has been launched in international markets including China, Brazil, and Mexico, through strategic partnerships, enhancing global reach.
  • Y-mAbs Therapeutics Inc is advancing its clinical programs, notably the GD2 and CD38 radiotherapy programs, showing promising early results without dose-limiting toxicities.
  • The company maintains a strong financial position with sufficient cash resources to support operations and pipeline programs into 2027.
Negative
  • Global net product sales of DANYELZA decreased by 4% in Q1 2024 compared to the same period in 2023, primarily due to lower international market purchases.
  • The resignation of the CFO and the separation agreement with the Chief Scientific Officer could pose challenges in leadership continuity and strategic execution.
  • Despite a strong U.S. market performance, international revenues declined by $2.8 million in Q1 2024 compared to Q1 2023.
  • The company reported a net loss of $6.6 million for Q1 2024, indicating ongoing challenges in achieving profitability.
  • Y-mAbs Therapeutics Inc faces intense competition in the neuroblastoma treatment market, which could impact market share and revenue growth.
Operator

Good morning, and welcome to Y-mAbs Therapeutics Inc. earnings conference call for the first quarter of 2024. (Operator Instructions) As reminder, today's conference will be recorded, and I will now hand it over to Y-mAbs' Head of IR, Courtney Dugan.

Courtney Dugan
Y-mAbs Therapeutics Inc - VP & Head of IR

Thank you, operator, and good morning, everyone. Welcome to the Y-mAbs First Quarter 2024 financial results conference call. We issued a press release this morning and yesterday excuse me, at market close. The press release and accompanying slides are available on the IR section of our website.

Let me quickly remind you that the following discussion contains certain statements that are considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.

Such statements include, but are not limited to, statements about our business model and development, commercialization and product distribution plans expectations with respect to early trial data, current and future clinical and preclinical studies

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