Y-mAbs Therapeutics (YMAB), the commercial-stage biopharmaceutical company, revealed that it has inked a distribution agreement with Adium Pharma S.A. for DANYELZA (naxitamab-gqgk) and omburtamab (if approved), the company’s antibodies, in Latin America.
The financial terms of the agreement were not disclosed. Per the terms of the deal, Adium’s sales and marketing proficiency will be used in distributing DANYELZA and omburtamab in the territory. Furthermore, registration files will be submitted by Adium on behalf of Y-mAbs in certain parts of the territory. All other global unpartnered regions remain with the company.
Notably, DANYELZA is designed for the treatment of relapsed or refractory high-risk neuroblastoma in the bone or bone marrow in patients 1 year and older. The drug received U.S. Food and Drug Administration’s (FDA) approval last November. (See Y-mAbs stock analysis on TipRanks)
Furthermore, omburtamab is expected to treat pediatric patients with CNS/leptomeningeal metastasis from neuroblastoma. In April 2021, a Marketing Authorization Application (MAA) was filed with the European Medicines Agency for the drug, and resubmission of a Biologics License Application (BLA) to the FDA is anticipated by the end of the second quarter or in the third quarter of 2021.
Y-mAbs’ Chairman Thomas Gad said, “We are very pleased to enter this distribution agreement with Adium, a company with a commercial presence in 18 countries and a sustained oncology and rare disease business. We hope to leverage Adium’s footprint in Latin America to make DANYELZA and omburtamab, if approved, available to children with unmet medical needs.”
On May 11, H.C. Wainwright analyst Robert Burns reiterated a Buy rating and a price target of $70 (98% upside potential) on the stock.
Burns commented, “From our vantage point, the next six to 12 months are slated to contain a rich vein of value drivers for Y-mAbs, including both regulatory and clinical data catalysts.”
Wall Street analysts are bullish on the stock. The Strong Buy consensus rating boasts 5 unanimous Buy ratings. Looking ahead, the average analyst price target stands at $57.50, putting the upside potential at 63% over the next 12 months.
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