Y-mAbs Therapeutics, Inc. (Nasdaq: YMAB) announced a strategic business update, highlighting the company's realignment into two focused business units and positive preliminary data from its Self-Assembly DisAssembly Pre-targeted Radioimmunotherapy (SADA PRIT) platform. The announcement, made on January 10, 2025, underscores Y-mAbs' commitment to advancing cancer therapies and improving patient outcomes.
Strategic Business Realignment
Y-mAbs is establishing two distinct business units: Radiopharmaceuticals and DANYELZA. This realignment aims to optimize internal resources, accelerate clinical development of the SADA PRIT platform, and drive commercial growth of DANYELZA (naxitamab-gqgk). According to Michael Rossi, President and Chief Executive Officer, this strategic move will expand radiopharmaceutical capabilities, improve capital efficiencies, and better align strategic priorities.
As part of this realignment, Y-mAbs anticipates a workforce reduction of up to approximately 13%. The company also plans to move some roles from Denmark to the U.S. to streamline the advancement of its radiopharmaceutical platform and adjust the DANYELZA commercial team to focus on growth opportunities within the anti-GD2 market.
SADA PRIT Platform Advancement
The SADA PRIT platform is designed to improve traditional radioimmunotherapy by delivering a high therapeutic dose while minimizing off-target exposure. This technology utilizes a pre-targeted payload delivery method where antibody constructs assemble in tetramers and bind to the tumor target. Y-mAbs is currently evaluating its SADA PRIT technology in two clinical trials in the U.S.
GD2-SADA (Trial 1001)
In Part A of the GD2-SADA Phase 1 trial, 21 patients with solid tumors, including small cell lung cancer (SCLC), malignant melanoma, sarcomas, and adult neuroblastoma, have been dosed across six sites. Preliminary data indicates that the pre-targeting approach is well-tolerated, with no dose-limiting toxicities (DLTs) or treatment-related adverse events (AEs) reported. The company expects to share data from Part A in the second quarter of 2025.
According to Norman LaFrance, M.D., Chief Development Officer, the preliminary data demonstrates the viability of the platform's pre-targeted approach. The ongoing data collection is expected to optimize tumor uptake, determine the optimal therapeutic dose, and establish the ideal construct for further clinical advancement.
CD38-SADA (Trial 1201)
For the CD38-SADA Phase 1 trial, six sites have been selected, and three have been activated. Y-mAbs anticipates dosing the first non-Hodgkin Lymphoma (NHL) patient in the first quarter of 2025.
Preliminary FY2024 Financial Results
Y-mAbs reported preliminary estimated unaudited full-year 2024 total net revenue of approximately $88 million, falling within the previously announced guidance range of $87 million to $95 million. The company also reported preliminary estimated unaudited cash, cash equivalents, and marketable securities of approximately $67 million as of December 31, 2024, which is anticipated to support operations into 2027. The preliminary estimated total cash investment for the full year 2024 was approximately $11 million, below the guidance range of $15 million to $20 million.
Anticipated 2025 Milestones
Key milestones expected in 2025 include:
- Presentation of Part A data from the GD2-SADA Phase 1 trial in the second quarter.
- Presentation of GD2-SADA optimization data in the second quarter.
- Updates on the reprioritized SADA PRIT pipeline, including new high-value target indications and timelines, in the second quarter.
- Dosing of the first patient in the CD38-SADA Phase 1 trial in the first quarter.
- Potential marketing approval for DANYELZA in a new ex-U.S. market.
- Full-year 2025 guidance in conjunction with the full-year 2024 earnings report in the first quarter.
