Y-mAbs Therapeutics rises on Q4 profit beat, strong revenue growth

Y-mAbs Therapeutics

31/03/2023 18:26

(Updates)
    ** Shares of drugmaker Y-mAbs Therapeutics Inc  YMAB.O  rise
61.3% to $5.35, hitting record one-day pct. gain
    ** YMAB biggest gainer across U.S. stock exchanges
    ** Co late on Thursday reported Q4 adj. profit of 3 cents
per share vs loss of 85 cents per share, a year earlier;
analysts on average had expected a loss of 46 cents per share -
Refinitiv
    ** Q4 rev rose 227.6% to $31.45 mln vs a year-ago period;
also beating analysts' expectations of $20.06 mln
    ** Co 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
    ** Brokerage BMO Capital says YMAB's reiterated Danyelza
FY'23 sales guidance of $60 mln-65 mln could be conservative,
given its Q4 sales, which is already at the top end of the co's
expectations 
    ** Including session's gain, YMAB stock up ~9% YTD 

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