On January 10, 2025 Y-mAbs Therapeutics, Inc. (the "Company" or "Y-mAbs") (Nasdaq: YMAB), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel radioimmunotherapy and antibody-based therapeutic products for the treatment of cancer, reported strategic business updates and 2025 priorities in the Company’s mission to improve and extend people’s lives (Press release, Y-mAbs Therapeutics, JAN 10, 2025, View Source [SID1234649600]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Business Update

Y-mAbs is internally realigning operations with the establishment of two business units: Radiopharmaceuticals and DANYELZA.

● Radiopharmaceuticals
o Novel Self-Assembly DisAssembly Pre-targeted Radioimmunotherapy ("SADA PRIT") platform designed to improve upon traditional radioimmunotherapy by delivering high therapeutic dose while minimizing off-target exposure, increase physician participation and decrease manufacturing and infrastructure costs.
o SADA PRIT technology utilizes a pre-targeted payload delivery method where antibody constructs assemble in tetramers and bind to the tumor target.
o Platform can deliver a variety of payloads and could potentially be developed against multiple tumor targets, as well as for radiopharmaceutical purposes.
o Y-mAbs is currently evaluating its SADA PRIT technology in two clinical trials in the U.S.
● DANYELZA
o DANYELZA is a GD2 antibody and the only FDA-approved treatment for the treatment of patients one-year of age and older with high-risk relapsed/refractory neuroblastoma in the bone and bone marrow.
o Initially commercially launched in 2021, DANYELZA is commercialized across both U.S. and international markets.

The business realignment is designed to support the optimization of internal resources and provide flexibility and agility to advance the Company’s novel SADA PRIT platform programs through clinical development while simultaneously driving commercial growth of DANYELZA.

"Our mission at Y-mAbs has been clear from day one: bring important new cancer therapies to patients as quickly as possible. Since the successful commercial launch of DANYELZA, we are proud to have positively impacted the lives of children with high-risk relapsed/refractory neuroblastoma, giving the hope of a better future to families around the world," said Michael Rossi, President and Chief Executive Officer. "As we look ahead towards the potential of our novel Radiopharmaceutical platform and high value therapeutic areas, as well as the potential of DANYELZA, we believe now is the right time to focus our efforts into two business units. By doing so, we expect to expand our radiopharmaceutical capabilities, accelerate clinical execution, further improve capital efficiencies, and better align strategic priorities."

With these updates to our business strategy, the Company anticipates a reduction in its current workforce of up to approximately 13%, depending on whether a portion of impacted employees accept newly created positions. The Company also intends to move some roles from Denmark to the U.S. to more efficiently coordinate the advancement of its radiopharmaceutical platform, and implement a small adjustment to the DANYELZA commercial team to focus the team on potential growth opportunities within the anti-GD2 market.

Recent Pipeline Advancement

GD2-SADA (Trial 1001): Y-mAbs has dosed 21 patients at six sites to date in Part A of the GD2-SADA Phase 1 trial in adults with solid tumors. Tumor types include small cell lung cancer (SCLC), malignant melanoma, sarcomas and adult neuroblastoma. Preliminary data from the Part A GD2-SADA Phase 1 trial has demonstrated this novel pre-targeting approach to be well-tolerated with no dose-limiting toxicities (DLTs) and no treatment-related adverse events (AEs) reported. Part A remains ongoing as the Company aggregates final data on patients in open cohorts and continues to study further patients incorporating various elements to further optimize the platform aiming to maximize tumor uptake and retention. The Company expects to share data from Part A in the second quarter of 2025.

"The preliminary data from Part A of our GD2-SADA Phase 1 trial demonstrates the viability of the pre-targeted approach of the platform. We continue to gather learnings from the 21 patients dosed to date, which we anticipate will allow us to improve tumor uptake, determine the optimal therapeutic dose, and establish the ideal construct to further advance Trial 1001 in the clinic," said Norman LaFrance, M.D., Chief Development Officer. "We believe in the significant potential of our SADA PRIT platform, and we are excited to be at the forefront of this next-generation, pre-targeted radiotherapy technology."

CD38-SADA (Trial 1201): To date, six sites have been selected, and three sites have been activated. The Company expects to dose the first non-Hodgkin Lymphoma (NHL) patient in Study 1201 in the first quarter of 2025.

Unaudited Preliminary FY2024 Results

Y-mAbs reported preliminary estimated unaudited full year 2024 total net revenue of approximately $88 million, within the Company’s previously announced guidance range of between $87 million and $95 million, and preliminary estimated unaudited cash, cash equivalents and marketable securities as of December 31, 2024 of approximately $67 million, with preliminary estimated total cash investment for the full year 2024 of approximately $11 million, which is below the Company’s guidance range of between $15 million and $20 million.

Anticipated 2025 Milestones

● Part A data from GD2-SADA Phase 1 trial (Trial 1001) expected to be presented in the second quarter of 2025
● GD2-SADA optimization data expected to be presented in the second quarter of 2025
● Expect to present updates with respect to reprioritized SADA PRIT pipeline, including new high-value target indications and timelines, in the second quarter of 2025
● Expect to dose first patient in CD38-SADA Phase 1 trial (Trial 1201) in the first quarter of 2025
● Potential for marketing approval for DANYELZA in new ex-US market in 2025
● Plan to provide full year 2025 guidance in conjunction with full year 2024 earnings report in the first quarter of 2025

Upcoming Investor Presentation

The company previously announced that Mr. Rossi will present at the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco, CA on Wednesday, January 15, 2025 at 5:15 p.m. PT. A live webcast will be available under the Events section of the Company’s investor relations website at ir.ymabs.com. The webcast will be archived and available for replay for 30 days after the event.