Y-mAbs Therapeutics gains on raising forecast for 2023 product revenue

Y-mAbs Therapeutics

09/05/2023 18:09

** Shares of drugmaker Y-mAbs Therapeutics Inc  YMAB.O  rise
29.3% to $8.76, hitting their almost 7-month high
    ** Co raises FY23 forecast for revenue in its anti-cancer
medication franchise, DANYELZA, to $80-85 mln from prior
forecast of $60-65 mln
    ** Reports Q1 DANYELZA net product revenue of $20.3 mln, up
93% from year ago
    ** Posts Q1 net loss of $6.3 mln vs loss of $28 mln a year
earlier
    ** Three of nine analysts rate the stock "buy" or higher,
four rate at "hold" and two "sell" or lower; median PT at $6 –
Refinitiv
    ** Including session gains, stock has risen 80.53% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))