Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) has reported that its Chief Business Officer, Gad Thomas, sold a total of 70,000 shares of company stock in two separate transactions, accumulating over $840,000. The transactions, which took place on June 10 and June 11, were executed at prices ranging from $12.00 to $12.03 per share.
On the first day, Thomas sold 35,000 shares at a weighted average price of $12.03, followed by an identical amount of shares the next day at a slightly lower weighted average price of $12.00. These sales were conducted in multiple trades within the stated price ranges. Following these transactions, Thomas still retains a substantial holding of 162,681 shares in the company.
The sales were carried out indirectly through GAD Enterprises LLC, a company where Thomas holds sole voting and dispositive power, indicating a significant level of control over the shares. Additionally, it is noted that Thomas is associated with shares owned by his children, which are considered part of his household according to the filing.
Investors and followers of Y-mAbs Therapeutics may find this information relevant as insider transactions can provide insights into the company's health and potential future performance. The details of the transactions have been made publicly available as per regulatory requirements, and the company remains a key player in the pharmaceutical preparations industry.
In other recent news, Y-mAbs Therapeutics reported mixed Q1 results, with an 11% increase in net sales of their product DANYELZA in the U.S., totaling $18.6 million. However, a 4% decline was observed in global net product sales, falling to $19.4 million due to reduced international demand. Despite this, Y-mAbs maintains its full-year DANYELZA net product sales guidance of $95 million to $100 million. The company also reported a net loss of $6.6 million and anticipates a cash burn for the full year.
In a recent development, Y-mAbs appointed Dr. Norman LaFrance as Chief Development Officer, a move expected to advance its work in cancer treatment technologies. The company is also set to present preclinical data on their novel cancer treatment technology at the Society of Nuclear Medicine & Molecular Imaging (SNMMI) Annual Meeting. This technology, involving a bispecific fusion protein known as GD2-SADA, is part of the company's broader Pretargeted Radioimmunotherapy Platform (PRIT) and is currently under investigation in a clinical trial involving adults and adolescents.
These are the recent developments for Y-mAbs Therapeutics, a company that continues to expand its presence both domestically and internationally. The company is progressing with the development of its SADA PRIT radio-immune therapy platform, aiming to improve cancer treatment options. Despite some challenges, the company's outlook remains positive, particularly with the anticipated steady growth of DANYELZA sales.
InvestingPro Insights
Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB) has recently been in the spotlight following insider transactions by its Chief Business Officer. To provide investors with a broader perspective on the company's financial health and market performance, here are some key metrics and insights from InvestingPro.
InvestingPro Data shows that as of the last twelve months leading up to Q1 2024, Y-mAbs Therapeutics holds a market capitalization of approximately $525.28 million. The company's gross profit during this period was a robust $73.02 million, with an impressive gross profit margin of 86.41%. Despite this strong margin, it's important to note that the company's P/E ratio stood at -24.05, reflecting the market's anticipation of future earnings growth rather than current profitability.
Two InvestingPro Tips that are particularly relevant in the context of the recent insider trades are:
1. Y-mAbs Therapeutics maintains more cash than debt on its balance sheet, which may provide some investors with confidence in the company's financial stability.
2. Analysts do not expect the company to be profitable this year, which could be a factor influencing insider transactions and market sentiment.
For investors looking to delve deeper into Y-mAbs Therapeutics' financials and future outlook, there are additional InvestingPro Tips available at https://www.investing.com/pro/YMAB. These could be particularly valuable for understanding the full picture of the company's performance and potential.
Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can access a total of 7 tips for Y-mAbs Therapeutics that may further inform your investment decisions.
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