Mission Statement, Vision, & Core Values (2024) of Y-mAbs Therapeutics, Inc. (YMAB)

An Overview of Y-mAbs Therapeutics, Inc. (YMAB)

General Summary of Y-mAbs Therapeutics, Inc. (YMAB)

Y-mAbs Therapeutics, Inc. (YMAB) was founded in 2015 and is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. The company’s lead product, DANYELZA (naxitamab-gama), has received accelerated approval from the FDA for the treatment of patients with relapsed or refractory high-risk neuroblastoma. As of 2024, Y-mAbs continues to expand its product portfolio and pipeline, actively working on multiple other candidates including omburtamab, a treatment for CNS tumors.

In 2024, Y-mAbs reported total sales of approximately $60.7 million for DANYELZA, consistent with the previous year, reflecting steady demand in both U.S. and international markets. The company is also focusing on expanding its reach into Latin America and Eastern Asia, where initial commercial launches are underway.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the three months ended September 30, 2024, Y-mAbs generated total revenues of $18.5 million, down from $20.5 million in the same period of 2023. The decline was primarily due to a decrease in product revenue, which amounted to $18.5 million compared to $19.9 million in the prior year. For the nine months ended September 30, 2024, total revenues were $61.2 million, slightly down from $61.5 million in the nine months ended September 30, 2023.

Y-mAbs reported a net loss of $7.0 million for Q3 2024, compared to a net loss of $7.7 million for Q3 2023. For the nine months ended September 30, 2024, the net loss was $22.9 million, compared to $20.4 million for the same period in 2023. The gross margin for the nine months ended September 30, 2024 was approximately 88%, an increase from 85% in the same period of 2023, attributed to a favorable sales mix and reduced inventory write-downs.

Introduction to Y-mAbs as a Leader in the Industry

Y-mAbs Therapeutics, Inc. is recognized as a leader in the biopharmaceutical industry, particularly in the field of oncology therapeutics. The company's innovative approach to antibody development and its focus on high unmet medical needs in cancer treatment position it favorably among peers. With robust sales from DANYELZA and a promising pipeline, Y-mAbs aims to significantly impact patient outcomes in cancer care. The company continues to explore new markets and expand its product offerings, ensuring its role as a key player in the biopharmaceutical landscape.

Mission Statement of Y-mAbs Therapeutics, Inc. (YMAB)

Mission Statement of Y-mAbs Therapeutics, Inc. (YMAB)

The mission statement of Y-mAbs Therapeutics, Inc. is a critical element that articulates the company's purpose and serves as a guiding principle for its strategic direction. As of 2024, Y-mAbs is focused on developing and commercializing innovative antibody-based therapeutics for the treatment of cancer, demonstrating a commitment to addressing unmet medical needs through scientific excellence and innovation.

Core Component 1: Commitment to Innovation

Y-mAbs emphasizes its commitment to innovation as a cornerstone of its mission. The company leverages proprietary antibody platforms to develop novel therapies. For instance, the FDA granted accelerated approval to its lead product, DANYELZA, in November 2020, which reflects the company’s ability to innovate within the competitive biopharmaceutical landscape.

Core Component 2: Focus on Patient Outcomes

Another essential aspect of Y-mAbs' mission is its dedication to improving patient outcomes. The company aims to provide high-quality, effective therapies that enhance the quality of life for patients suffering from cancer. This focus is evident in its clinical trials and ongoing research programs, which aim to bring new treatment options to market.

Core Component 3: Commitment to Ethical Standards

Y-mAbs is also committed to maintaining high ethical standards in its operations. The company adheres to regulatory requirements and ethical guidelines throughout its research and development processes. This commitment is crucial in building trust with stakeholders and ensuring the integrity of its clinical trials.

Vision Statement of Y-mAbs Therapeutics, Inc. (YMAB)

Vision Statement of Y-mAbs Therapeutics, Inc. (YMAB)

The vision statement of Y-mAbs Therapeutics, Inc. encompasses several key components that outline the company's aspirations and direction in the biopharmaceutical industry. As of 2024, the vision focuses on innovation, patient care, and the advancement of cancer treatment through antibody-based therapies.

Y-mAbs is dedicated to pioneering advancements in the field of biopharmaceuticals, particularly in the development of novel antibody-based therapeutics. The company aims to leverage its proprietary technology platforms to create innovative solutions for cancer treatment. Y-mAbs has invested significantly in research and development, with research and development expenses reported at $36.8 million for the nine months ended September 30, 2024 .

The primary focus of Y-mAbs is to improve patient outcomes through effective cancer therapies. The company's lead product, DANYELZA, which received FDA approval in November 2020, has been pivotal in treating pediatric patients with neuroblastoma. In 2024, Y-mAbs reported product revenue of $60.7 million for DANYELZA, reflecting its commitment to making significant impacts on patient care .

Y-mAbs envisions a future where its therapies are accessible to patients worldwide. The company has established various partnerships and collaborations, enabling it to expand its market presence beyond the United States. As of September 30, 2024, Y-mAbs had accrued liabilities related to licensing and milestone payments amounting to $4.8 million, reflecting ongoing commitments to its global partnerships .

Y-mAbs aims for sustainable growth through strategic financial management. The company's total assets as of September 30, 2024, were reported at $120.9 million, with cash and cash equivalents totaling $68.1 million, indicating a solid financial foundation to support its vision . The accumulated deficit stood at $480.3 million, highlighting the ongoing challenge of achieving profitability as it continues to invest in its pipeline .

Y-mAbs is committed to advancing clinical research, focusing on expanding its product pipeline to include additional cancer therapies. The company is currently prioritizing the development of its SADA PRIT Technology platform to enhance treatment options. As of September 30, 2024, Y-mAbs reported total operating costs of $86.5 million for the nine months ended September 30, 2024, underscoring its commitment to clinical development .

The vision of Y-mAbs includes establishing strategic partnerships to enhance research capabilities and expedite product development. The company has engaged in multiple collaborations to leverage external expertise and resources. As of September 30, 2024, Y-mAbs had accrued clinical costs of $703,000, highlighting its ongoing commitment to clinical trials and research initiatives .

The vision statement of Y-mAbs Therapeutics, Inc. reflects a comprehensive approach to transforming cancer treatment through innovative therapies, enhanced patient outcomes, and a commitment to global accessibility. Its financial metrics and strategic initiatives demonstrate a focused effort to achieve these goals in the evolving biopharmaceutical landscape.

Core Values of Y-mAbs Therapeutics, Inc. (YMAB)

Integrity

Integrity is a fundamental value at Y-mAbs Therapeutics, Inc. (YMAB), guiding the company's interactions with patients, partners, and stakeholders. It emphasizes transparency, ethical practices, and accountability in all operations.

Y-mAbs demonstrates its commitment to integrity through rigorous compliance with regulatory standards and transparent reporting practices. The company has maintained an open dialogue with stakeholders regarding its financial performance, which includes a net loss of $22.876 million for the nine months ended September 30, 2024. Additionally, the company’s annual minimum royalties under licensing agreements, such as those with Memorial Sloan Kettering Cancer Center, are clearly disclosed, ensuring stakeholders are aware of financial obligations.

Innovation

Innovation is at the core of Y-mAbs' mission, driving the development of cutting-edge therapies for cancer treatment. The company focuses on leveraging its proprietary antibody platforms to create novel therapeutic products.

As of 2024, Y-mAbs has made substantial investments in research and development, reporting $36.776 million in R&D expenses for the nine months ended September 30, 2024. The accelerated approval of its product DANYELZA for treating neuroblastoma is a testament to the company’s innovative approach and commitment to advancing cancer therapies.

Collaboration

Collaboration is essential for Y-mAbs, fostering partnerships that enhance its research capabilities and market reach. The company actively engages with academic institutions and industry partners to further its mission.

Y-mAbs has entered into multiple licensing agreements, including a recent collaboration with Nobelpharma Co., Ltd. for DANYELZA in Japan, which includes a non-refundable payment of $2 million upon execution and potential milestone payments of up to $31 million. This partnership exemplifies how collaboration is integral to expanding the company’s product pipeline and improving patient access to its therapies.

Excellence

Excellence is a key value that drives Y-mAbs to achieve high standards in its operations and product offerings. This commitment to excellence is reflected in the company's dedication to quality in both its research and clinical practices.

The company has reported significant progress in its clinical trials, with a focus on maintaining high safety and efficacy standards for its products. Y-mAbs has incurred $11.168 million in selling, general, and administrative expenses for the three months ended September 30, 2024, indicating a robust operational framework to support its strategic goals. The high-quality standards in clinical development align with the company’s vision of delivering effective cancer therapies.

Patient-Centricity

Patient-centricity is a core value at Y-mAbs, emphasizing the importance of prioritizing patient needs and outcomes in every aspect of the company’s operations.

The company’s flagship product, DANYELZA, is designed specifically for pediatric patients with high-risk neuroblastoma, demonstrating a commitment to addressing critical unmet medical needs. Y-mAbs engages with patient advocacy groups and healthcare professionals to ensure that its therapies are developed and marketed with the patient’s best interests in mind.

Updated on 16 Nov 2024

Resources:

1. Y-mAbs Therapeutics, Inc. (YMAB) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Y-mAbs Therapeutics, Inc. (YMAB)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Y-mAbs Therapeutics, Inc. (YMAB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.