YMAB Latest Report
1min read Performance of this financial report
Y-mAbs Therapeutics' total operating revenue as of December 31, 2024 was RMB264.95 million, up 13.38% from RMB233.63 million in 2023. This growth was mainly driven by the increase in market demand, promotion of new products, and expansion of the customer base. Meanwhile, although R&D expenses decreased year-on-year, they may have contributed to new sales growth.
Key data in the financial report
1. The total operating revenue in 2024 was RMB264.95 million, up 13.38% year-on-year.
2. R&D expenses were RMB122.14 million, down year-on-year, which may have affected the efficiency of new product development.
3. Major customers include mckesson, cardinal health, and cencora, accounting for 41%, 20%, and 16% of total revenue, respectively.
4. The demand for DANYELZA remained stable, but its net product revenue decreased by 5% year-on-year to US$15.3 million.
5. The cumulative revenue in the first three quarters of 2024 was US$61.19 million, down 0.43% year-on-year.
Peer comparison
1. Overall industry analysis: The overall revenue growth trend of the biopharmaceutical industry is affected by market demand and innovation-driven. In particular, the market size of cancer treatment is expanding with the introduction of new therapies, driving overall revenue growth.
2. Peer evaluation analysis: Y-mAbs Therapeutics' revenue growth rate (13.38%) is significantly higher than some competitors, indicating its competitive advantage in the market. However, some competitors like Youcare Pharmaceutical's revenue performance has declined, reflecting the intensified industry competition.
Summary
Y-mAbs Therapeutics' revenue growth in 2024 was outstanding, mainly due to the increase in market demand and the expansion of the customer base. However, the decrease in DANYELZA's net product revenue and the reduction in R&D expenses may pose certain pressure on future financial performance.
Opportunities
1. Continue to expand the market promotion of DANYELZA, leveraging its core position in the treatment of neuroblastoma.
2. Strengthen cooperation with major customers, further solidifying sales channels and enhancing revenue stability.
3. Utilize new technology platforms (such as SADA and Y-BiClone) to launch new products in the future, expanding the product line.
Risks
1. Intensified competition may lead to a decline in market share, affecting future growth potential.
2. The slight decrease in DANYELZA's market demand may affect overall revenue, requiring attention to the risk of changes in medical insurance policies.
3. The reduction in R&D expenses may limit the speed of new product development, affecting long-term development.
