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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. 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.
Zymeworks Inc. (NYSE: ZYME) has received an unsolicited, non-binding proposal from All Blue Falcons FZE (ABF) to acquire the company for $10.50 per share in cash. The Zymeworks board will review this proposal carefully to determine the best course of action for the company and its shareholders. No formal offer has been made yet, and shareholders do not need to take any action at this time. Zymeworks focuses on developing multifunctional biotherapeutics, including its leading clinical candidates, zanidatamab and ZW49.
Zymeworks Inc. (NYSE: ZYME) has completed enrollment in its pivotal HERIZON-BTC-01 clinical trial, assessing the antitumor efficacy of zanidatamab for patients with advanced HER2-amplified biliary tract cancers. Results are anticipated in early 2023. This trial addresses a significant need, as over 210,000 new cases of biliary tract cancers are diagnosed globally each year, with limited treatment options available. Zanidatamab has received Breakthrough Therapy designation from the FDA for this indication, highlighting its potential to improve patient outcomes.
Zymeworks Inc. (NYSE: ZYME) announced the acceptance of two abstracts for poster presentations at the 2022 ASCO Annual Meeting, scheduled for June 3-7, 2022. The first poster will showcase Phase 1b/2 data of zanidatamab combined with CAPOX chemotherapy and tislelizumab for HER2-positive advanced gastric cancer on June 4. The second presentation, on June 6, will feature preliminary data of zanidatamab with docetaxel for advanced HER2-positive breast cancer. Both presentations will be accessible on the Zymeworks website.
Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, will announce its Q1 2022 financial results on May 4, 2022, after market close. A conference call and webcast to discuss the results will follow at 4:30 p.m. ET. Investors can join the call by dialing 844-435-7258 (U.S. & Canada) or +1-631-485-4286 (international). Zymeworks is known for its innovative biotherapeutics, including its lead candidate, zanidatamab, a HER2-targeted bispecific antibody currently in clinical trials.
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