Zymeworks Stock Price, News & Analysis

Zymeworks Inc. (NYSE: ZYME) reports pivotal trial progress for zanidatamab in gastroesophageal adenocarcinoma and biliary tract cancer, with expected enrollment completion dates in 2023 and mid-2022, respectively. The company's financial position is enhanced by a successful equity offering in January 2022, extending its cash runway into the second half of 2023. A workforce reduction exceeding 25% is in progress, alongside the appointment of Chris Astle, PhD, as CFO. Zymeworks expects to provide significant data updates in 2022 and continues to focus on partnerships to strengthen its financial position.

Zymeworks Inc. (NYSE: ZYME) has announced it will report its fourth quarter and full year 2021 financial results after market close on February 24, 2022. A conference call and webcast to discuss the results will take place on the same day at 4:30 p.m. ET. Zymeworks is a clinical-stage biopharmaceutical company focused on developing multifunctional biotherapeutics, including its lead candidate, zanidatamab, which targets HER2 in solid tumors. The firm also has a preclinical pipeline and is engaged in strategic partnerships to advance its therapies.

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, will participate in two upcoming investor conferences. Management will engage in one-on-one meetings and fireside chats at the Guggenheim Oncology Conference on February 9, 2022, at 1:00 p.m. ET, and at the 11th Annual SVB Leerink Global Healthcare Conference on February 17, 2022, at 3:40 p.m. ET. Both sessions will be webcast live and available for replay. Zymeworks focuses on developing multifunctional biotherapeutics, including its lead candidate, zanidatamab.

Zymeworks Inc. (NYSE: ZYME) has successfully closed a public offering of 11,035,000 common shares, which includes the exercise of an underwriters’ option for an additional 1,875,000 shares. The shares were priced at $8.00 per share, generating gross proceeds of approximately $115.0 million. Additionally, the company offered pre-funded warrants to purchase up to 3,340,000 common shares at $7.9999 each. The offering was managed by Jefferies, Evercore ISI, Stifel, and Wells Fargo Securities.

Zymeworks Inc. (NYSE: ZYME) announced the pricing of its public offering, which includes 9,160,000 common shares and up to 3,340,000 pre-funded warrants. The shares are priced at $8.00 each, while the warrants are at $7.9999, totaling approximately $100 million in gross proceeds. A 30-day option for underwriters to purchase an additional 1,875,000 common shares is also available. The offering is set to close on or around January 31, 2022, subject to customary conditions.

Zymeworks Inc. (NYSE: ZYME) has initiated an underwritten public offering of its common shares and pre-funded warrants. The offering is contingent on market conditions, and there is no guarantee of completion. Zymeworks will provide underwriters a 30-day option to purchase an additional 15% of shares offered. Jefferies, Evercore ISI, Stifel, and Wells Fargo Securities are acting as joint managers of the offering. A shelf registration statement was previously filed with the SEC. No securities will be offered in Canada, and the offering is made solely through a prospectus.

Zymeworks Inc. (NYSE: ZYME) announced strategic priorities for 2022-2023 under new Chair and CEO Kenneth Galbraith. Key initiatives include completing pivotal studies for zanidatamab, optimizing R&D strategies, and establishing partnerships to enhance growth. The company aims to streamline operations, reducing workforce by at least 25% to cut costs. Cash reserves are approximately $250 million, expected to fund operations into late 2022. Zymeworks anticipates key clinical data releases and plans to improve its financial position through collaborations and potential fundraising.

Zymeworks Inc. (NYSE: ZYME) announced an equity inducement award for Kenneth Galbraith, its new Chair, President, and CEO, in compliance with NYSE Rule 303A.08. Galbraith was granted a stock option to purchase 500,000 shares at an exercise price of $14.97, effective from his start date on January 15, 2022. The options will vest over four years, with accelerated vesting upon termination without cause or in case of death/disability. This grant was made outside the current stock option plan but will align with similar terms.

Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, announced that Neil Klompas, Chief Operating Officer and Chief Financial Officer, will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022 at 9:45 a.m. ET. The presentation will be accessible via live webcast and replay on Zymeworks' website.

Zymeworks focuses on developing next-generation multifunctional biotherapeutics, including its lead candidate, zanidatamab, for HER2-expressing solid tumors.