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Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company committed to the discovery, development, and commercialization of novel, multifunctional biotherapeutics. The company's mission is to make a meaningful difference for people impacted by difficult-to-treat cancers and other serious diseases.
Zymeworks specializes in developing best-in-class bi-specific antibodies and antibody-drug conjugates (ADCs) to treat oncology, autoimmunity, and inflammatory diseases. Their proprietary platforms, including Azymetric™, Albucore™, and ZymeLink™, enable the creation of highly potent bi-specific antibodies and multivalent protein therapeutics targeting a range of indications.
The company's leading therapeutic candidate, zanidatamab, is a novel HER2-targeted bispecific antibody currently in multiple Phase 1, Phase 2, and pivotal clinical trials globally. Zanidatamab is being developed as a targeted treatment for patients with HER2-expressing cancers. Recent milestones include the acceptance of a Biologics License Application (BLA) by the FDA and China's National Medical Products Administration (NMPA) for second-line treatment of HER2-positive biliary tract cancers (BTC).
Zymeworks is also advancing a deep preclinical pipeline, including candidates like zanidatamab zovodotin (ZW49) and new investigational drugs ZW171 and ZW191, with plans for multiple IND filings in 2024 and 2025. The company is financially robust, with a cash runway extending into the second half of 2027, bolstered by strategic partnerships with BeiGene and Jazz Pharmaceuticals, among others.
The company's complementary therapeutic platforms and fully integrated drug development engine enable precise engineering of differentiated product candidates, offering potential best-in-class treatments for various challenging diseases. For more information, visit www.zymeworks.com.
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.
Zymeworks Inc. announced plans to redomicile as a Delaware corporation, aiming to enhance value for shareholders. This move is designed to simplify operations, reduce administrative costs, and align with U.S. shareholders and biotechnology peers. The company's name and ticker symbol (ZYME) will remain unchanged. The redomicile is expected to conclude in Q4 2022, pending approvals from shareholders and regulatory bodies. The company intends to expand operations in the U.S., Canada, Europe, and Asia, while continuing its focus on developing novel biotherapeutics like zanidatamab.
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.
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