Y-mAbs Therapeutics (YMAB) investor relations material

Executive summary

• Entered into a definitive merger agreement with Perseus BidCo US, Inc. and SERB Pharmaceuticals for a cash tender offer at $8.60 per share, with the company to become a wholly owned subsidiary upon completion; deal valued at $412 million and expected to close by Q4 2025.

• DANYELZA remains the only FDA-approved product, with ongoing clinical trials and expansion into new indications and geographies.

• Business realignment in January 2025 led to a 12% workforce reduction, operational restructuring into two segments, and reduced personnel and compensation costs.

• Cash and cash equivalents stood at $62.3 million as of June 30, 2025.

Financial highlights

• Q2 2025 revenues were $19.5 million, down 14% year-over-year but exceeding guidance, mainly due to lower DANYELZA sales in the US and ex-US markets.

• Net loss for Q2 2025 was $3.2 million, or ($0.07) per share, improved from $9.2 million or ($0.21) per share in Q2 2024.

• Gross margin for Q2 2025 was 86%.

• Operating expenses declined due to lower R&D and SG&A costs, including the absence of prior year litigation settlements.

• Interest and other income rose to $2.3 million, mainly from foreign currency gains.

Outlook and guidance

• Cash position projected to support operations as currently planned into 2028, assuming no merger completion.

• Ongoing clinical trials for DANYELZA and SADA PRIT platform, with key studies expected to complete enrollment or report results by 2028.

• Manufacturing transition for DANYELZA to Italy in 2026 may temporarily increase costs and inventory levels.

• Transaction with SERB expected to close by Q4 2025, pending tender offer and regulatory approvals.