Y-mabs announces restructuring plan and provides financial outlook following complete response letter from fda

New york, jan. 04, 2023 (globe newswire) -- y-mabs therapeutics, inc. (the “company” or “y-mabs”) (nasdaq: ymab) a commercial-stage biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer, today announced a strategic restructuring plan designed to extend its cash runway and prioritize resources on the commercialization and potential label extension of danyelza and development of the sada (self-assembly disassembly (“sada”) prit 2-step) technology platform. the company plans to discuss omburtamab at its upcoming type a meeting with the fda; however, the company has assumed a deprioritization of the omburtamab program, including all indications, in designing its restructuring plan and in its estimates for 2023. in addition, the company plans to deprioritize other pipeline programs, including activities relating to gd2-gd3 vaccine and cd33 bispecific antibody constructs, as part of the restructuring plan.
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