Y-mAbs Therapeutics jumps on upbeat Q4 profit, strong revenue growth

Y-mAbs Therapeutics

31/03/2023 16:06

** Shares of drugmaker Y-mAbs Therapeutics Inc  YMAB.O  rise
63.3% to $5.4
    ** Co late on Thursday reported Q4 adj. EPS of 3 cents vs
loss of 85 cents per share a year earlier; Analysts on average
had expected a loss of 46 cents per share - Refinitiv IBES
    ** Q4 rev rose 227.6% to $31.45 mln vs a year-ago period;
also beating analysts' expected $20.06 mln
    ** YMAB reiterated its 2023 financial guidance
    ** Q4 and FY rev included license rev of $15.0 mln and $16.0
mln, respectively vs no license rev in the year-ago period
    ** Recorded Q4 sales of $16.4 mln from its sole commercial
drug, Danyelza, for pediatric cancer vs Refinitiv est of $13.82
mln
    ** Co in early January announced plans to lay off 35% of
workforce and deprioritize other pipeline programs; expects 28%
reduction in 2023 annual operating expenses
    ** YMAB stock up 9% YTD, including session's gain

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))