Zymeworks SEC Filings

Zymeworks Inc. reported preliminary, unaudited cash resources of about $270.6 million as of December 31, 2025, and said that, based on current plans, it believes it can fund operations beyond 2028 assuming full execution of a $125.0 million share repurchase plan and receipt of $440.0 million in anticipated regulatory milestone payments tied to potential Ziihera approvals in GEA across the United States, Europe, Japan and China. The company also announced multiple leadership changes, including appointing Brian Cherry as a new Class II director, terminating Executive Vice President, Chief Business Officer and Chief Financial Officer Leone Patterson without cause, and naming Chair, President and CEO Kenneth Galbraith as interim Chief Financial Officer. Zymeworks promoted Mark Hollywood to Executive Vice President and Chief Operating Officer with increased salary and new equity awards, and outlined a planned transition in the Chief Medical Officer role from Jeffrey Smith, who is retiring, to Sabeen Mekan.

Zymeworks Inc. executive Patterson Leone, EVP and Chief Business & Financial Officer, reported buying common stock through the company’s employee stock purchase plan. On January 6, 2026, Leone acquired 459 shares of common stock at a price of $10.55 per share, bringing reported beneficial ownership to 459 shares held directly. The filing notes these shares were purchased under Zymeworks’ Amended and Restated Employee Stock Purchase Plan for the purchase period from July 1, 2025 through December 31, 2025, at a price equal to 85% of the closing price of the stock on July 1, 2025.

Zymeworks Inc. reported several updates. Director Scott Platshon resigned from the board effective immediately, and the company stated his resignation was not due to any disagreement over operations, policies, or practices. The company announced a strategic initiative to optimize future cash flows from Ziihera® (zanidatamab-hrii), other licensed products, and other healthcare assets. The board also authorized a $125.0 million share repurchase program for its common stock.

As part of its financial outlook, Zymeworks noted that, assuming full execution of the $125.0 million repurchase program, its existing cash resources of $299.4 million as of September 30, 2025, together with anticipated milestone payments tied to potential regulatory approvals of Ziihera in the United States, Europe, Japan and China, are expected to fund planned operations beyond 2028. Separately, the company announced the appointment of Mr. Platshon as Acting Chief Investment Officer.

Zymeworks Inc. reported several updates. Director Scott Platshon resigned from the board effective immediately, and the company stated his resignation was not due to any disagreement over operations, policies, or practices. The company announced a strategic initiative to optimize future cash flows from Ziihera® (zanidatamab-hrii), other licensed products, and other healthcare assets. The board also authorized a $125.0 million share repurchase program for its common stock.

As part of its financial outlook, Zymeworks noted that, assuming full execution of the $125.0 million repurchase program, its existing cash resources of $299.4 million as of September 30, 2025, together with anticipated milestone payments tied to potential regulatory approvals of Ziihera in the United States, Europe, Japan and China, are expected to fund planned operations beyond 2028. Separately, the company announced the appointment of Mr. Platshon as Acting Chief Investment Officer.

Zymeworks Inc. (ZYME) announced positive topline Phase 3 results for its lead drug Ziihera® (zanidatamab-hrii). The HERIZON-GEA-01 trial evaluated Ziihera in combination with chemotherapy, with or without the PD‑1 inhibitor Tevimbra® (tislelizumab), as a first-line treatment for HER2‑positive locally advanced or metastatic gastroesophageal adenocarcinoma. This includes cancers of the stomach, gastroesophageal junction, and esophagus, an area of significant medical need. The positive topline outcome from this late‑stage study suggests Ziihera may have meaningful clinical activity in this setting, and further details are provided in the company’s November 17, 2025 press release.

Zymeworks Inc. announces its 2025 annual meeting of stockholders. The virtual meeting will be held on December 30, 2025 at 9:00 a.m. Pacific Time via live audio webcast at meetnow.global/MZKC5MK. Stockholders of record at the close of business on November 3, 2025 may attend and vote.

The agenda includes three items: elect three directors, an advisory vote on executive compensation, and ratification of the appointment of the auditors. A quorum requires at least 33 1/3% of the voting power present or represented by proxy. Broker non-votes and abstentions count toward quorum but are not votes cast on proposals.

As of the record date, 74,835,565 shares of common stock were outstanding. In addition, six registered holders of exchangeable shares held 553,184 exchangeable shares eligible to exercise voting rights at the meeting. Beneficial holders generally must obtain a legal proxy to vote virtually. The company has engaged Kingsdale Advisors to assist with proxy solicitation.

The board remains majority independent, with Kenneth Galbraith serving as Chair, Chief Executive Officer and President, and Susan Mahony as Lead Independent Director. Three directors resigned effective November 6, 2025, and committee memberships were updated accordingly.

Zymeworks Inc. filed its Q3 2025 report, showing higher collaboration revenue and a narrower quarterly loss. Revenue from research and development collaborations was $27,614 for the quarter (vs. $16,000 a year ago), aided by partner milestones. Net loss was $19,602, translating to basic and diluted loss per share of $0.26.

For the nine months, collaboration revenue reached $103,450 (vs. $45,273), supported by payments from J&J ($25,000 Phase 3 start), BeOne ($20,000 milestone plus $18,334 deferred revenue recognized), BMS ($7,500 option), GSK ($14,000), and Daiichi Sankyo ($3,100). Operating expenses were $49,724 in Q3, with R&D of $35,578 and G&A of $14,146. Cash and cash equivalents were $64,834, with marketable securities of $234,526, and total assets of $397,269. The company repurchased 1,028,333 shares in Q3 for $15,691 and completed the net exercise of 5,086,480 pre‑funded warrants in June. Shares outstanding were 74,836,534 as of November 4, 2025.

Zymeworks Inc. (ZYME) furnished a press release announcing financial results for the three and nine months ended September 30, 2025. The release is attached as Exhibit 99.1 to a Form 8-K.

The information under Items 2.02 and 7.01 and Exhibit 99.1 is furnished and is not deemed “filed” for Section 18 of the Exchange Act or incorporated by reference, except as specifically stated. Zymeworks also notes it shares material updates via SEC filings, its websites, and official social media channels.

Zymeworks Inc. has decided to voluntarily discontinue clinical development of ZW171, a T cell engager targeting gynecological, thoracic, and digestive system cancers. The decision follows completion of the planned dose-escalation cohorts in a Phase 1 trial in patients with ovarian cancer and non-small cell lung cancer, where a maximum tolerated dose was established. After reviewing these results, the company concluded that further dose evaluation in the current trial was unlikely to support a benefit-risk profile consistent with the desired monotherapy target product profile. The decision was announced via press release furnished as an exhibit.