Y-mAbs Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Y-mAbs Therapeutics (YMAB) with an Outperform rating and $23 price target The firm says its enthusiasm is centered on the company’s clinical stage SADA platform, as the most advanced pre-targeting platform currently in development for delivery of targeted radiopharmaceutical therapies. The SADA platform has the potential to address a critical challenge facing TRTs, off target radiation exposure. Y-mAbs Therapeutics’ selection of targets for SADA will be key for their success, with details on future plans anticipated in early 2025, Oppenheimer says. In addition to having two SADA based candidates in the clinic by early 2025, the company is generating about $90M annually from DANYELZA sales in highrisk neuroblastoma, which the firm views primarily as a way to offset SADA R&D investment.