Y-mAbs' Cash And Cash Equivalents Of $77.8M Held As Of June 30, 2024, Reflects $0.8M Cash Burn In The Six Months Ended June 30, 2024; Management Reiterates Anticipated Cash Runway Into 2027
Portfolio Pulse from Benzinga Newsdesk
Y-mAbs Therapeutics reported holding $77.8 million in cash and cash equivalents as of June 30, 2024, with a cash burn of $0.8 million over the past six months. The management has reiterated that this cash position is expected to sustain the company until 2027.
August 12, 2024 | 10:34 am
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Y-mAbs Therapeutics reported $77.8 million in cash and cash equivalents as of June 30, 2024, with a minimal cash burn of $0.8 million over the past six months. Management expects this cash position to sustain the company until 2027.
The strong cash position and low cash burn rate are positive indicators for Y-mAbs Therapeutics, suggesting financial stability and a long runway for operations. This is likely to boost investor confidence in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100