Y-mAbs Therapeutics inks equity deal up to $35M

Y-mAbs Therapeutics, Inc., a pharmaceutical company, announced Monday it has entered into an Equity Distribution Agreement with Oppenheimer & Co. Inc., potentially offering up to $35 million of its common stock. The agreement allows the company to conduct "at the market" offerings, selling shares directly on the NASDAQ Global Select Market or other available trading markets for its stock.

Under the terms of the agreement, the company can instruct the sales agent on various sale conditions including price, timing, and size. Oppenheimer & Co. Inc. will endeavor to execute these sales based on the company’s directives and will receive up to a 3% commission on the gross proceeds from the sales.

Y-mAbs Therapeutics, which is under no obligation to sell any shares under this agreement, will terminate the offering as specified within the terms. The sales are pursuant to a shelf registration statement and a prospectus supplement dated March 4, 2025. With a healthy current ratio of 3.92 and an overall financial health score rated as "GOOD" by InvestingPro, the company appears well-positioned to manage its capital needs. Discover 8 additional exclusive ProTips and comprehensive financial analysis in the Pro Research Report, available with an InvestingPro subscription. The company’s common stock is offered under a registration statement that was declared effective by the U.S. Securities and Exchange Commission on May 5, 2023.

The legal firm Cooley LLP has provided an opinion on the common stock to be sold under this Sales Agreement, which is included in the exhibits filed with the SEC. This initiative allows Y-mAbs Therapeutics flexibility in financing its operations, as it can choose to sell stock incrementally as needed.

Investors should note that this information is based on a press release statement and that the sale of securities in certain states may be restricted until they are registered or qualified under the securities laws of those states.

In other recent news, Y-mAbs Therapeutics has reported its financial results for the fourth quarter of 2024, revealing an earnings per share (EPS) of -0.15, which fell short of the expected -0.1165, and revenue of $24.5 million, below the anticipated $26.99 million. This announcement followed the company’s guidance for 2025, projecting revenues between $75 million and $90 million, with potential growth driven by clinical trials and the development of a GD2 companion diagnostic. Analysts from Cantor Fitzgerald, BofA Securities, and Clear Street have responded to these updates with adjustments in their price targets for Y-mAbs. Cantor Fitzgerald lowered its price target to $19, maintaining an Overweight rating, while BofA Securities reduced its target to $12, keeping a Neutral stance. Clear Street also adjusted its price target to $18 but maintained a Buy rating, expressing confidence in the long-term potential of Danyelza and the SADA platform. The company remains optimistic about future growth, supported by stable revenue from its flagship product, Danyelza, and promising developments in its radiopharmaceutical division. These updates reflect ongoing challenges and opportunities for Y-mAbs as it navigates competitive pressures and works to expand its market presence.

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