Y-mAbs Therapeutics Shares Drop on Downbeat 2Q, Guidance

Dow Jones08-12

By Michael Susin

Y-mAbs Therapeutics shares fell on Monday after the company reported a worse-than-expected loss for the second quarter and disappointing guidance for the year.

Shares are trading down 20% to $9. However, shares are up 62% on a 12-month basis.

The New York-based company said its second-quarter loss widened to $9.25 million, or 21 cents a share, from a loss of $6.3 million, or 14 cents a share, in the comparable quarter a year ago. This compares with market expectations for a loss of 12 cents a share, according to FactSet.

Total revenue, which mainly consists of sales for its neuroblastoma treatment Danyelza, rose to $22.8 million from $20.8 million last year. The increase was mainly driven by increased international revenue.

Looking ahead, Y-mAbs expects 2024 revenue to be between $87 million and $95 million. Analysts polled by FactSet forecast revenue of $95.2 million.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

August 12, 2024 10:05 ET (14:05 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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