Zymeworks Stock Price, News & Analysis

Zymeworks Inc. has appointed Dr. Paul Moore as its new Chief Scientific Officer, effective July 18, 2022. Dr. Moore brings over 25 years of experience in biologics drug discovery, previously serving at MacroGenics. He will lead the Early Research & Development Group to advance Zymeworks' multispecific antibody and ADC programs into clinical studies. The company aims for two new IND filings by 2024 and has ongoing clinical developments like zanidatamab. This leadership change is expected to strengthen Zymeworks' pipeline and collaboration strategies.

Zymeworks Inc. (NYSE: ZYME) has announced the adoption of a limited-duration shareholder rights plan in response to an unsolicited acquisition proposal from All Blue Falcons FZE. This Rights Plan aims to protect shareholders by ensuring that any potential acquisition reflects the full value of their investment. It allows the board time to evaluate proposals while reducing the risk of control through market accumulation. The Rights Plan can be activated if ownership surpasses 10% or 20% for passive investors and will expire on June 8, 2023.

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, will participate in the Jefferies Healthcare Conference on June 8-9. Management will hold one-on-one meetings and present on June 8 at 9:30 a.m. ET in New York, NY. The presentation will be available on Zymeworks’ website. Zymeworks focuses on next-generation multifunctional biotherapeutics, with lead candidate zanidatamab targeting HER2-positive solid tumors and ZW49 in Phase 1 development. For more details, visit their clinical trials page.

Zymeworks Inc. reported promising clinical results for its bispecific antibody, zanidatamab, at the ASCO Annual Meeting. In advanced HER2-positive breast cancer, the treatment demonstrated a 90.5% confirmed objective response rate (cORR). In a separate study for gastric adenocarcinoma, zanidatamab combined with chemotherapy yielded a 75.8% cORR and a 100% disease control rate (DCR). The company plans to host an analyst and investor call on June 6 to discuss these findings and the ongoing clinical development strategy.

Zymeworks (NYSE: ZYME) announced that its Board unanimously rejected an unsolicited proposal from activist shareholder All Blue Falcons FZE to acquire the company at $10.50 per share, citing substantial undervaluation. The Board emphasized its focus on advancing its clinical assets zanidatamab and ZW49, with key data expected through 2023. Zymeworks aims to enhance its financial position and pursue strategic partnerships to bolster growth and shareholder value. The rejection followed previous tensions with All Blue regarding financing proposals and company direction.

All Blue Capital announced the appointment of Dr. Siddhartha Mukherjee as Medical Advisor to bolster its acquisition proposal for Zymeworks at $10.50 per share. Dr. Mukherjee, a Pulitzer Prize-winning author and cancer expert, aims to help turnaround Zymeworks, which has faced significant challenges. All Blue is urging Zymeworks' Board to engage with their proposal, citing a pattern of value erosion due to previous missteps. If the Board does not respond, All Blue plans to take action to protect shareholders' interests.

Zymeworks Inc. (NYSE: ZYME) announced the completion of patient enrollment ahead of schedule in its pivotal trial (HERIZON-BTC-01) for zanidatamab, a therapy targeting HER2 in biliary tract cancers. This achievement reinforces their commitment to developing new treatments. Financially, revenue rose to $1.9 million from $0.6 million year-over-year, though net losses increased to $72.6 million. The company plans to enhance funding through collaborations while controlling expenses. Zymeworks aims to submit two new IND applications by 2024 and will present data at ASCO in June.

On May 3, 2022, All Blue Capital announced that Dr. Alan Barge, an expert in oncology and biopharmaceutical drug development, will serve as an advisor during their proposed acquisition of Zymeworks (NYSE: ZYME). All Blue has proposed acquiring Zymeworks for $10.50 per share, totaling approximately $773 million in equity value. The aim is to reverse Zymeworks' recent underperformance and enhance operational performance. Dr. Barge's extensive background, including his experience at AstraZeneca, is expected to contribute significantly to Zymeworks’ turnaround.

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, will participate in the H.C. Wainwright Global Investment Conference from May 24-26. They will hold virtual one-on-one meetings and a corporate presentation on May 24 at 7 a.m. ET. This presentation will be accessible via Zymeworks’ website. Zymeworks focuses on developing next-generation multifunctional biotherapeutics, with lead candidate zanidatamab currently in multiple trials for solid tumors expressing HER2. For more details, visit their corporate site.