Y-mAbs Therapeutics Reports 8% Revenue Growth in Q1 2025, Net Loss Improves

Y-mAbs Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing a net product revenue of $20.9 million, an increase of 8% from $19.4 million in the same period last year. The company attributed this growth primarily to a significant rise in international sales, particularly in Western Asia, where revenues surged due to the launch of a named patient program. However, U.S. sales of DANYELZA, the company’s only FDA-approved product, fell by 28% to $13.4 million, influenced by ongoing clinical study enrollments and market dynamics. Overall, total revenues for the quarter reached $20.9 million, compared to $19.9 million in the prior year.

The company’s operating costs and expenses slightly decreased to $24.4 million from $24.7 million year-over-year, with research and development expenses dropping by 14% to $11.4 million. This reduction was primarily due to decreased spending on clinical trials and personnel costs. Selling, general, and administrative expenses, however, increased by 15% to $13.1 million, driven by higher personnel costs and expenses related to a business realignment strategy announced in January 2025. Y-mAbs reported a net loss of $5.2 million for the quarter, a 22% improvement from the $6.6 million loss recorded in the same period last year.

In terms of operational developments, Y-mAbs is undergoing a business realignment aimed at optimizing its operations and enhancing clinical development speed. This restructuring is expected to result in a workforce reduction of approximately 13%, depending on employee acceptance of new roles. The company is also transitioning its DANYELZA manufacturing from Greenville, North Carolina, to a facility in Monza, Italy, with production expected to halt in the second half of 2026 until the new site receives FDA approval.

As of March 31, 2025, Y-mAbs had cash and cash equivalents totaling $60.3 million, down from $67.2 million at the end of 2024. The company anticipates that its current cash reserves will be sufficient to fund operations through at least 2027, although it may seek additional capital through equity or debt financing to support ongoing research and development efforts. The company’s accumulated deficit increased to $492.3 million, reflecting its ongoing investment in product development and commercialization.

Looking ahead, Y-mAbs plans to continue advancing its clinical programs, including ongoing trials for DANYELZA and new investigational therapies targeting GD2 and CD38. The company remains focused on expanding its product pipeline and exploring potential collaborations to enhance its market position. However, it acknowledges the inherent uncertainties in drug development and the potential need for additional funding to achieve its strategic objectives.