Y-mAbs Therapeutics Inc

NASDAQ:YMABUnited States

06:35 AM EST, 11/08/2024 (MT Newswires) -- ...

current portion 776 902 ---------- --------- Total current liabilities 25,292 20,128 Accrued milestones 2,000 5,375 Operating lease liabilities, long-term portion 299 517 Other liabilities 897 864 ---------- --------- TOTAL LIABILITIES 28,488 26,884 ---------- --------- STOCKHOLDERS' EQUITY Preferred stock, $0.0001 par value, 5,500,000 shares authorized and none issued at September 30, 2024 and December 31, 2023 -- -- Common stock, $0.0001 par value, 100,000,000 shares authorized at September 30, 2024 and December 31, 2023; 44,766,802 and 43,672,112 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 4 4 Additional paid-in capital 572,807 558,002 Accumulated other comprehensive income (36) 449 Accumulated deficit (480,346) (457,470) ---------- --------- TOTAL STOCKHOLDERS' EQUITY 92,429 100,985 ---------- --------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 120,917 $ 127,869 ========== ========= Y-MABS THERAPEUTICS, INC. Consolidated Statements of Net Loss and Comprehensive Loss (unaudited) (In thousands, except share and per share data) Three months ended Nine months ended September 30, September 30, -------------------------- ---------------------------- 2024 2023 2024 2023 ------------ ------------ ------------ -------------- REVENUES Product revenue, net $ 18,461 $ 19,954 $ 60,690 $ 60,956 License revenue -- 500 500 500 ---------- ---------- ---------- ---------- Total revenues 18,461 20,454 61,190 61,456 ---------- ---------- ---------- ---------- OPERATING COSTS AND EXPENSES Cost of goods sold 2,248 2,595 7,359 9,327 License royalties -- 50 50 50 Research and development 11,168 15,358 36,776 40,831 Selling, general, and administrative 13,613 10,200 42,270 33,721 ---------- ---------- ---------- ---------- Total operating costs and expenses 27,029 28,203 86,455 83,929 ---------- ---------- ---------- ---------- Loss from operations (8,568) (7,749) (25,265) (22,473) ---------- ---------- ---------- ---------- OTHER INCOME, NET Interest and other income 1,916 189 2,995 2,400 ---------- ---------- ---------- ---------- LOSS BEFORE INCOME TAXES (6,652) (7,560) (22,270) (20,073) Provision for income taxes 346 187 606 366 ---------- ---------- ---------- ---------- NET LOSS $ (6,998) $ (7,747) $ (22,876) $ (20,439) ========== ========== ========== ========== Other comprehensive income/(loss) Foreign currency translation (1,083) 806 (485) 518 ---------- ---------- ---------- ---------- COMPREHENSIVE LOSS $ (8,081) $ (6,941) $ (23,361) $ (19,921) ========== ========== ========== ========== Net loss per share attributable to common stockholders, basic and diluted $ (0.16) $ (0.18) $ (0.52) $ (0.47) ---------- ---------- ---------- ---------- Weighted average common shares outstanding, basic and diluted 44,626,943 43,620,532 44,145,183 43,651,536 ========== ========== ========== ========== Y-MABS THERAPEUTICS, INC. Consolidated Statements of Cash Flows (unaudited) (In thousands) Nine months ended September 30, --------------------------------------- 2024 2023 -------------------- ---------------- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (22,876) $ (20,439) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 433 574 Stock-based compensation 11,480 11,330 Foreign currency and other transactions (456) (369) Changes in assets and liabilities: Accounts receivable, net 2,538 (6,343) Inventories (4,492) (411) Other current assets 3,493 2,671 Other assets (5,875) (3,735) Accounts payable 2,274 (6,196) Accrued liabilities and other (363) 3,722 ------------ --- ------- NET CASH USED IN OPERATING ACTIVITIES (13,844) (19,196) ------------ --- ------- CASH FLOWS FROM INVESTING ACTIVITIES -- -- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from exercised stock options 3,325 -- ------------ --- ------- NET CASH PROVIDED BY FINANCING ACTIVITIES 3,325 -- ============ === ======= Effect of exchange rates on cash and cash equivalents 4 5 ------------ --- ------- NET DECREASE IN CASH AND CASH EQUIVALENTS (10,515) (19,191) Cash and cash equivalents at the beginning of period 78,637 105,762 ------------ --- ------- Cash and cash equivalents at the end of period $ 68,122 $ 86,571 ============ === ======= SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES Right-of-use assets obtained in exchange for lease obligations $ 320 $ 636 Acquisition of treasury shares upon repayment of secured promissory note $ -- $ 480