Y-MAbs Therapeutics' CEO Exits, Expects FY22 Danyelza Sales of Up To $50M

Y-mAbs Therapeutics Inc's YMAB CEO and Board Member, Claus Moller, has stepped down from his position effective immediately.
Thomas Gad, the Company's Founder, Chairman & President, has assumed the interim CEO and Board Member role.
In addition, Mr. Gad has stepped down as Chairman, and Jim Healy, current Board Member and Chair of the Compensation Committee, has been appointed as Chairman of the Board.
The Company posted preliminary Q1 FY22 Danyelza sales of $10.5 million, with a $45-50 million full-year revenue guidance.
The omburtamab FDA marketing application was resubmitted in March and is currently under review with the FDA.
The Company held a cash balance of $156.7 million, which provides a runway to mid-2024.
For 2022, Y-mAbs expects operating expenses of $162-167 million and a net cash burn of $78-83 million.
Price Action: YMAB shares closed at $9.35 on Wednesday.