YmAbs Therapeutics, Inc. (NASDAQ:YMAB) Q3 2019 Earnings Conference Call - Final Transcript
Nov 13, 2019 • 04:30 pm ET
30th, 2019. Overall, the increase in G&A expenses primarily relates to the infrastructure and administrative cost of being a public company.
In total, the net loss increased by $12.5 million from $11.4 million for the three months period ended September 30th, 2018 to $23.9 million for the three months ended September 30th, 2019. For the nine-month period ended September 30th, the net loss increased by $28.7 million to $57.9 million compared to $29.2 million for the corresponding period in 2018. The cash flows from operating activities in the first nine months of 2019 show that the cash burn increased by $21.2 million from $27.7 million for the nine months ended as of September 30th, 2018 to $48.9 million for the nine months ended September 30th, 2019. The increase was primarily caused by an increase in the net loss and net loss increased by $28.7 million for the nine months ended September 30th, 2019, which was primarily offset by a $1.4 million increase in accounts payable and accrued liabilities, resulting from increased operations and an increase in non-cash expenses including stock-based compensation of $1.8 million. The net cash flow for the first 9 months of 2019 show a spend of $49.7 million.
In terms of financial guidance, we expect since the IPO that the net proceeds would cover our operating expenses and capital expenditures through the fourth quarter of 2020. Now, with the proceeds of the secondary offering which closed on November 3rd, 2019, we expect the cash to fund our operations through the end of 2022, and this number still does not take into account any potential revenues from commercialization of naxitamab and omburtamab, all the proceeds from any potential future partnerships. So we do believe Y-mAbs remains in a healthy financial position.
This concludes the financial update, and I'll now turn the call over to Thomas. Thomas?
It looks like Thomas has dropped his line. One moment. Rejoining Mr. Gad.
Thank you. Thanks a lot, sorry for that, just a line drop.
So this concludes our prepared remarks. Thank you, Bo; thank you, Claus, and Dough, if you could open up the call to questions.