Y-mAbs Therapeutics falls on plans to create two business units

Y-mAbs Therapeutics

10/01/2025 19:15

** Shares of drugmaker Y-mAbs Therapeutics  YMAB.O  fall
6.6% to $6.90 
    ** YMAB says it is creating two business units, one to
accelerate the clinical development of its radiopharmaceuticals
unit and another to optimize the commercial growth of Danyelza
    ** Company's radiopharmaceuticals unit develops targeted
cancer therapies by delivering high doses of radiation directly
to tumors while minimizing exposure to healthy tissues
    ** Danyelza is an FDA-approved cancer therapy for the
treatment of relapsed or refractory neuroblastoma in the bone or
bone marrow
    ** YMAB also plans to lay off 13% of its employees,
depending on whether a portion of the impacted employees accepts
newly created positions 
    ** Company had 100 full-time employees as of Dec. 31, 2023 -
SEC filing
    ** YMAB says it plans to move some roles from Denmark to the
U.S. 
    ** YMAB gained ~14% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))