YMAB Reports Q2 Loss, Misses Revenue Estimates
Company Logs Net Loss of $92 Million for Quarter
Quarterly Net Revenues Fall Short of Expectations
Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) announced financial results for the second quarter of 2024, reporting a net loss of $92 million or a negative $0.21 per basic share.
The company's net revenues for the quarter totaled $108 million, falling short of analysts' estimates. This represents a decline compared to the same quarter last year, when WEB recorded net revenues of $213 million.
Despite the revenue shortfall, Y-mAbs' DANYELZA product saw continued growth. Net product revenues for DANYELZA amounted to $208 million and $410 million for the quarter and six-month period ended June 30, 2024, respectively.
The company's financial performance has drawn mixed reactions from institutional investors. Some analysts anticipate bold actions from major shareholders following the stock's recent 13% drop.
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