Zymeworks Stock Price, News & Analysis

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, announced participation in several upcoming investor conferences. Management will present at the Stifel 2022 Healthcare Conference in New York from November 15-16 and the Jefferies London Healthcare Conference from November 15-17. An Early R&D Day is scheduled for October 20, 2022, in New York, featuring updates on preclinical research from Chief Scientific Officer Paul Moore, PhD. Presentations will be accessible on Zymeworks' website.

Zymeworks Inc. (NYSE: ZYME) presented preliminary results from its Phase 1 clinical trial of zanidatamab zovodotin (ZW49) targeting HER2-positive tumors at the ESMO 2022 Congress. Seventy-seven patients were enrolled to assess safety, tolerability, and anti-tumor activity. The maximum tolerated dose remains undetermined, but results show a 31% confirmed objective response rate and a 72% disease control rate with a manageable safety profile. The trial continues, with results from an alternate dosing regimen expected in 2023.

Zymeworks Inc. is proceeding with a proposed redomicile to Delaware, aiming to enhance long-term value for securityholders and improve growth prospects. The special meeting of securityholders is set for October 7, 2022, to vote on this resolution. If approved, common shares of Zymeworks will convert to shares in the newly formed New Zymeworks. The company anticipates this move may increase institutional investor interest and align it with peers in the biotechnology sector.

Zymeworks Inc. (NYSE: ZYME) announced preliminary results from its Phase 1 study of zanidatamab zovodotin (ZW49), a bispecific HER2-targeted antibody-drug conjugate, at the ESMO Congress 2022. The study involved 76 patients with HER2+ cancers, revealing a manageable safety profile and encouraging anti-tumor activity. Notably, the confirmed objective response rate was 28%, with a disease control rate of 72%. Most treatment-related adverse events were manageable, and no treatment-related deaths were reported. Further data will be presented by Dr. Komal Jhaveri on September 12.

Zymeworks Inc. (ZYME) reported a revenue increase to $5.4 million for Q2 2022, up from $1.8 million in Q2 2021, thanks to a $5 million research license fee from Atreca. R&D expenses rose by $5.3 million to $64.6 million net loss, slightly less than $67.5 million a year earlier. Key developments include the acceptance of zanidatamab zovodotin (ZW49) for presentation at ESMO Congress and interim Phase 1 data on zanidatamab for HER2+ cancers showcased at ASCO. Zymeworks plans to redomicile to Delaware and aims to file two IND applications by 2024. Cash resources stand at $241.8 million, projected to fund operations through 2023.

Zymeworks Inc. (NYSE: ZYME) announced its participation in several upcoming investor conferences. Key events include:

• Citi’s 17th Annual BioPharma Conference on September 7 in Boston, MA.
• Wells Fargo Healthcare Conference on September 8 in Boston, MA.
• Morgan Stanley 20th Annual Global Healthcare Conference on September 13-14 in New York, NY.
• H.C. Wainwright 24th Annual Global Investment Conference with a pre-recorded presentation available on September 12.

The presentations will be accessible on Zymeworks’ website.

Zymeworks Inc. (NYSE: ZYME) has announced that data from its Phase 1 study of zanidatamab zovodotin (ZW49), a novel bispecific HER2-targeted antibody-drug conjugate, will be presented at the European Society for Medical Oncology Congress 2022 in Paris. The presentation is significant as it represents the first opportunity to share clinical data from the ZW49 development program. CEO Kenneth Galbraith emphasized the importance of updating global cancer research leaders about the progress. A conference call is planned post-presentation to discuss the findings and future plans.

Zymeworks Inc. (NYSE: ZYME) announced an equity inducement award for Dr. Paul Moore, its new Chief Scientific Officer. The award includes stock options to purchase 200,000 common shares at an exercise price of $5.82, effective July 18, 2022. The options will vest over four years with a quarter vesting after one year and the remainder monthly. In case of a change of control leading to termination without cause, all unvested options will vest. The grant is compliant with NYSE Rule 303A.08 and is outside the company's current equity compensation plan.

Zymeworks Inc. (NYSE: ZYME) is set to report its second quarter 2022 financial results after market close on August 4, 2022. A conference call and webcast will follow at 4:30 p.m. ET to discuss the financial outcomes and provide a corporate update. Zymeworks specializes in developing multifunctional biotherapeutics, with lead candidate zanidatamab currently undergoing multiple clinical trials for HER2-expressing solid tumors. The company is also advancing ZW49, a bispecific HER2-targeted antibody-drug conjugate in Phase 1 development.