Y-mAbs Therapeutics Fourth Quarter Performance

Y-mAbs Therapeutics experienced a significant increase in its shares, rising by 20% to $20.12 in premarket trading. This surge followed the company's announcement of a fourth-quarter loss that surpassed analysts' expectations.

Financial Overview

The biopharmaceutical company disclosed a quarterly loss of $980,000, or 2 cents per share, contrasting with earnings of $1.2 million, or 3 cents per share, recorded in the corresponding quarter the previous year. Analysts had anticipated a loss of $9.2 million, or 20 cents per share, as per FactSet predictions.

In terms of revenue, the quarter yielded $23.4 million, falling short of last year's $31.4 million but surpassing analysts' $21 million projections.

Strong Performance of Danyelza

Y-mAbs reported that fourth-quarter revenue generated from Danyelza amounted to $23.4 million, showcasing a 42% increase from the previous year. As of December 31, the company possessed $78.6 million in cash and cash equivalents, a sufficient amount expected to sustain operations through 2027.

Future Projections

With optimistic outlook, Y-mAbs predicts Danyelza revenue to reach between $95 million to $100 million by 2024.