Y-mAbs Therapeutics, Inc. (YMAB): BCG Matrix [Dec-2025 Updated]

You're looking for a clear-eyed view of Y-mAbs Therapeutics, Inc.'s portfolio as we hit late 2025, and honestly, the BCG map shows a company at a critical juncture. We have a Cash Cow in DANYELZA, which generated $20.9 million in Q1 net product sales but is seeing slowing growth, now tasked with funding the high-potential but cash-hungry SADA PRIT Question Marks, which require significant investment. To be fair, there are no Stars yet, and the failed Omburtamab is firmly in the Dog category, leaving the $62.3 million cash position as the lifeline expected to fund operations into 2027. Dive in to see the precise breakdown of where Y-mAbs Therapeutics, Inc. must place its bets next.

Background of Y-mAbs Therapeutics, Inc. (YMAB)

You're looking at Y-mAbs Therapeutics, Inc. (YMAB), which operates as a commercial-stage biopharmaceutical company. Its main focus is developing and selling novel antibody-based treatments and radioimmunotherapies for various cancers. The company has definitely structured its efforts into two main business units: one for its commercial product and one for its pipeline of radiopharmaceuticals.

The company's FDA-approved product is DANYELZA (naxitamab-gqgk), a therapy targeting tumors that express GD2, primarily used for treating neuroblastoma. For the first quarter of 2025, Y-mAbs Therapeutics reported net product revenues of $20.9 million, which was an 8% increase compared to the same period in the prior year. This growth was largely fueled by Ex-U.S. sales, which jumped significantly.

Looking closer at the geography, the Ex-U.S. net product revenues for Q1 2025 hit $7.5 million, representing an 816% increase from the $0.8 million seen in Q1 2024. However, U.S. DANYELZA net product revenues saw a decline in that same quarter. For the second quarter of 2025, total revenues came in at $19.5 million, marking a 14% decrease year-over-year.

Financially, Y-mAbs Therapeutics reported a net loss of $5.2 million for the first quarter of 2025, which was an improvement from the $6.6 million loss reported in the first quarter of 2024. As of June 30, 2025, the company held approximately $62.3 million in cash and cash equivalents. Management had maintained a full-year 2025 total revenue guidance between $75 million and $90 million.

Beyond DANYELZA, a key asset in the pipeline is omburtamab, a pivotal-stage product candidate that targets B7-H3. This asset is being investigated for several indications, including Diffuse Intrinsic Pontine Glioma (DIPG) and CNS/leptomeningeal metastasis from neuroblastoma. The company has also been advancing its GD2-SADA pretargeted radioimmunotherapy platform.

A major corporate event occurred in August 2025 when Y-mAbs Therapeutics announced a definitive agreement to be acquired by SERB Pharmaceuticals. The deal valued the company at an equity value of $412.0 million, offering shareholders $8.60 per share in cash. This transaction was expected to close by the fourth quarter of 2025.

Y-mAbs Therapeutics, Inc. (YMAB) - BCG Matrix: Stars

You're looking at the Stars quadrant, which is reserved for products that dominate a fast-growing market. Honestly, based on the latest figures for Y-mAbs Therapeutics, Inc., the portfolio doesn't currently house an asset that fits this description. The company lacks a high-share, high-growth commercial product right now.

The primary commercial asset, DANYELZA (naxitamab-gqgk), the sole FDA-approved treatment for high-risk relapsed/refractory neuroblastoma in the bone and bone marrow, shows signs of market maturity or market penetration challenges, not explosive growth. Its market position, while unique, is not coupled with the high market growth rate required for a Star classification in 2025.

The pipeline asset, the Self-Assembly DisAssembly Pretargeted Radioimmunotherapy (SADA PRIT) platform, is still in clinical evaluation, meaning its market share is effectively zero, placing it firmly in the Question Mark quadrant, not the Star quadrant.

Here's a quick look at the performance metrics that illustrate why DANYELZA doesn't qualify as a Star, given the slow growth trend in its key market, even though the overall cancer vaccine market is growing at a projected CAGR of 11.42% through 2034, valued at $12.61 billion in 2025.

The reality is that DANYELZA's growth is too slow to keep it in the Star category, and SADA PRIT's market share is zero because it hasn't reached commercialization. You need both high growth and high share to claim a Star.

The key performance indicators for the commercial product highlight the growth constraint:

• DANYELZA U.S. net product revenues fell by 28% year-over-year in the first quarter of 2025.
• The company delivered DANYELZA to 70 centers across the U.S. as of March 31, 2025.
• In Q1 2025, approximately 72% of U.S. vials sold were outside of Memorial Sloan Kettering Cancer Center.
• As of March 31, 2025, Y-mAbs Therapeutics, Inc. maintained a cash balance of $60.3 million.
• The company announced a definitive merger agreement in August 2025 valued at $412.0 million.

If DANYELZA can sustain its success and the market for neuroblastoma treatment accelerates significantly, it might transition into a Cash Cow when the market growth slows. For now, the numbers show a product facing headwinds in its largest market, which definitely doesn't scream Star.

Y-mAbs Therapeutics, Inc. (YMAB) - BCG Matrix: Cash Cows

You're looking at the established product that keeps the lights on and funds the next big bet. For Y-mAbs Therapeutics, Inc., that product is DANYELZA (naxitamab), the therapy for relapsed/refractory high-risk neuroblastoma.

This product holds a high niche market share because it is the only FDA-approved treatment in its specific indication. This exclusivity provides a strong foundation for predictable cash generation, which is the hallmark of a Cash Cow. You saw this stability with $20.9 million in net product sales for the first quarter of 2025, which was an 8% year-over-year increase.

Still, the core U.S. market shows signs of maturity and slowing growth. For the second quarter of 2025, the U.S. DANYELZA net product sales came in at $14.3 million, marking a 6% year-over-year decline. This decline was attributed to factors like reduced patient volume due to clinical study enrollments and increased competition in that period. The total revenue for Q2 2025 was $19.5 million, exceeding the high end of guidance.

This product generates the capital needed to support the rest of the Y-mAbs Therapeutics, Inc. portfolio. The company reported approximately $62.3 million in cash and cash equivalents as of June 30, 2025. This balance, combined with anticipated DANYELZA revenues, is expected to fund operations into 2027. The pending acquisition by SERB Pharmaceuticals at an equity value of $412.0 million, offering $8.60 per share in cash, is a major financial event for this asset.

Here's a look at the key financial snapshots supporting DANYELZA's Cash Cow status:

The Cash Cow role is about maintaining efficiency and milking the gains passively, which aligns with the operational focus around DANYELZA:

• DANYELZA is the only FDA-approved treatment for its specific indication.
• Q1 2025 revenue growth was 8% year-over-year, driven by Ex-U.S. sales.
• Ex-U.S. DANYELZA net product revenues for Q2 2025 were $4.7 million.
• Research and development expenses decreased to $11.1 million in Q2 2025 from $12.3 million in Q2 2024.
• Selling, general, and administrative expenses decreased to $11.3 million in Q2 2025 from $17.2 million in Q2 2024.

Honestly, the primary action for a Cash Cow is to ensure its infrastructure supports current levels without overspending, which is what the reduced operating expenses in Q2 2025 suggest. Finance: draft 13-week cash view by Friday.

Y-mAbs Therapeutics, Inc. (YMAB) - BCG Matrix: Dogs

Omburtamab (B7-H3-targeting radioimmunotherapy) clearly fits the Dogs quadrant for Y-mAbs Therapeutics, Inc. as of 2025. This asset represents a low market share product in a market where commercial approval prospects are effectively zero following regulatory setbacks. The product is a murine monoclonal antibody targeting B7-H3, an immune checkpoint molecule.

The primary failure point was the regulatory path. The United States Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) in 2022, following an Advisory Committee (AdCom) meeting on October 28, 2022, where the committee voted 16-0 against recommending approval, citing missing efficacy data. This event caused the Y-mAbs Therapeutics stock to plunge to a historic low of $3.15 by the end of October 2022, down significantly from its peak of $54.1 in late 2020.

Here are the key financial and statistical markers associated with the Omburtamab failure and subsequent resolution:

The asset continues to consume resources, albeit for limited, non-core clinical trials, such as those potentially related to the development of the SADA PRIT platform, which is being evaluated in ongoing trials like Trial 1001 and Trial 1201. Research and development expenses for Y-mAbs Therapeutics in the first quarter of 2025 were $11.4 million. The business realignment in early 2025 established a Radiopharmaceuticals business unit to manage the SADA PRIT technology, which may still draw on funds that might otherwise be allocated to core growth areas like Danyelza.

The failure to secure market approval for Omburtamab crystallized into a direct financial hit through litigation. Y-mAbs Therapeutics agreed to a $19.65 million cash settlement to resolve the class-action lawsuit filed by shareholders claiming misrepresentation regarding the drug's approval prospects. This settlement represents a significant past investment that failed to generate a return and is now a realized cost, fitting the profile of a cash trap that should be minimized or divested.

• Target molecule: B7-H3.
• Primary BLA path ended: 2022.
• Stock peak: $54.1 (late 2020).
• Shareholder settlement: $19.65 million.
• Ongoing R&D spend: $11.4 million (Q1 2025 R&D expenses).

Y-mAbs Therapeutics, Inc. (YMAB) - BCG Matrix: Question Marks

You're looking at the next generation of Y-mAbs Therapeutics, Inc. pipeline here, the SADA PRIT (Self-Assembly DisAssembly Pretargeted Radioimmunotherapy) platform. This is where the company is placing its future bets, but right now, these assets are burning cash while they try to prove their worth.

The core of the Question Marks quadrant for Y-mAbs Therapeutics, Inc. centers on the SADA PRIT Radiopharmaceuticals Platform, specifically the programs targeting GD2 and CD38. These are the investigational assets: GD2-SADA (Trial 1001) and CD38-SADA (Trial 1201). These programs represent high-growth potential because the overall radiopharmaceutical space is expanding rapidly. For instance, the global radiopharmaceutical market size was projected to be valued at approximately $7.92 billion in 2025, with a projected Compound Annual Growth Rate (CAGR) of 9.9% through 2033. Also, the Radiopharmaceutical CDMO Market is expected to record a CAGR of 9.3% from 2025 to 2034.

The low relative market share is a direct result of their early development stage. Both key programs are currently in Phase 1 clinical trials. Trial 1001, involving GD2-SADA, is an ongoing Phase 1 trial. Trial 1201, for CD38-SADA in non-Hodgkin Lymphoma, had its first patient dosed in the first half of 2025.

These early-stage programs require significant capital to move through the clinic, which directly impacts the bottom line. The investment in this area is substantial, as reflected in the company's overall financials. Y-mAbs Therapeutics, Inc. reported a consolidated net loss for the first quarter ended March 31, 2025, of $5.2 million. More specifically, the internal Radiopharmaceuticals business unit reflected a segment loss or investment from operations of $6.1 million for the first quarter of 2025. Research and development expenses for the quarter were $11.4 million, with a noted decrease in clinical trial spending for GD2-SADA due to timing, alongside ongoing investment in the SADA PRIT programs.

Here's a quick look at the cash consumption related to this unit and the overall financial position as of Q1 2025:

The platform is positioned as the company's future growth engine, but success is defintely uncertain given the early clinical stage. The strategy here must be aggressive investment to quickly gain market share before the cash reserves are depleted or the programs fail to show sufficient promise to warrant further funding.

• GD2-SADA: Trial 1001 in solid tumors.
• CD38-SADA: Trial 1201 in relapsed/refractory non-Hodgkin Lymphoma.
• Platform advantage: Separates targeting from radionuclide delivery.
• Cash runway supported by existing cash into 2027, based on current plans.