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About Zymeworks Inc. (Nasdaq: ZYME)
Zymeworks Inc. is a global clinical-stage biotechnology company dedicated to the discovery, development, and commercialization of novel, multifunctional biotherapeutics. Headquartered in Vancouver, British Columbia, Zymeworks leverages its proprietary therapeutic platforms, including Azymetric™ and EFECT™, to engineer highly differentiated antibody-based therapeutics for difficult-to-treat diseases such as cancer, autoimmune disorders, and inflammatory conditions. The company’s mission is to make a meaningful impact on patients’ lives by addressing significant unmet medical needs through innovative solutions.
Core Business and Therapeutic Platforms
Zymeworks’ business model centers on its proprietary platforms, which enable the precise engineering of bispecific and trispecific antibodies and antibody-drug conjugates (ADCs). The Azymetric™ platform allows the development of multifunctional antibodies capable of binding to multiple targets, unlocking unique mechanisms of action. The EFECT™ platform enhances immune modulation, enabling the creation of therapies with improved efficacy and safety profiles. Together, these platforms provide a robust foundation for developing next-generation therapeutics targeting oncology, autoimmune diseases, and inflammation.
Pipeline and Key Product Candidates
Zymeworks has built a diversified pipeline of clinical and preclinical candidates aimed at addressing challenging diseases:
- Ziihera® (zanidatamab-hrii): A bispecific HER2-targeted antibody developed using the Azymetric™ platform, Ziihera® received accelerated FDA approval for the treatment of HER2-positive biliary tract cancer (BTC). It is the first dual HER2-targeted therapy approved for this indication in the U.S.
- ZW171: A bispecific T-cell engager targeting mesothelin (MSLN) and CD3, designed to treat MSLN-expressing cancers such as ovarian cancer and non-small cell lung cancer (NSCLC).
- ZW191: An antibody-drug conjugate targeting folate receptor-alpha (FR⍺) in ovarian, endometrial, and NSCLC cancers, incorporating a proprietary topoisomerase I inhibitor payload.
- ZW220 and ZW251: ADCs targeting NaPi2b and glypican-3 (GPC3), respectively, with potential applications in ovarian, NSCLC, and hepatocellular carcinoma.
Strategic Collaborations and Revenue Model
Zymeworks has established strategic partnerships with leading biopharmaceutical companies, including Jazz Pharmaceuticals, BeiGene, and GSK. These collaborations provide the company with significant milestone payments, royalties, and co-development opportunities. For example, Zymeworks is eligible to receive up to $1.1 billion in milestone payments under its agreement with GSK and up to $1.4 billion in combined regulatory and commercial milestones from Jazz Pharmaceuticals for zanidatamab. These partnerships enhance the company’s ability to advance its pipeline while sharing development costs and risks.
Competitive Position and Market Significance
Operating in the highly competitive biopharmaceutical sector, Zymeworks differentiates itself through its proprietary platforms and focus on multifunctional biotherapeutics. Its FDA-approved Ziihera® and robust pipeline underscore its leadership in developing innovative therapies for HER2-expressing and other challenging cancers. The company’s expertise in protein engineering and strategic collaborations position it as a key player in the global biotechnology landscape.
Commitment to Innovation
Zymeworks continues to expand its pipeline with an emphasis on solid tumors, hematological cancers, and autoimmune diseases. Its disciplined R&D strategy, supported by a strong financial position, enables the company to advance multiple candidates into clinical development. With a focus on addressing complex diseases, Zymeworks aims to redefine therapeutic paradigms and deliver transformative solutions to patients worldwide.
Zymeworks Inc. (NYSE: ZYME), a clinical-stage biopharmaceutical company, will present at the Ladenburg Thalmann Healthcare Conference on July 14, 2021, at 4:00 p.m. ET. The presentation can be viewed live or later via Zymeworks’ website. The company focuses on developing next-gen multifunctional biotherapeutics, with its lead candidate, zanidatamab (ZW25), granted Breakthrough Therapy designation by the FDA. It is currently enrolling patients in pivotal and Phase 2 trials for cancers like HER2-amplified biliary tract cancer. ZW49, another candidate, is in Phase 1 development.
Zymeworks Inc. (NYSE: ZYME) will present at the Jefferies Virtual Healthcare Conference from June 1-4, 2021. The Company’s presentation is scheduled for June 3, 2021, at 10:00 a.m. ET. Interested individuals can access the live webcast through Zymeworks’ website, with a recorded replay available later.
Zymeworks focuses on developing multifunctional biotherapeutics, including zanidatamab (ZW25), a bispecific antibody with FDA Breakthrough Therapy designation, currently undergoing pivotal clinical trials for biliary tract cancer and Phase 2 trials for other cancers.
Zymeworks Inc. (NYSE: ZYME) held its Annual General Meeting of Shareholders on May 5, 2021, where key proposals were voted on. Proposal 1 re-elected directors, with votes for each nominee exceeding 71%. Proposal 2 regarding executive compensation was also approved with 89.30% support. Proposal 3 confirmed the appointment of KPMG LLP as auditors, receiving 98.99% approval. The detailed voting results are accessible through SEDAR and EDGAR. The company continues to advance its innovative therapies, including zanidatamab, which has received Breakthrough Therapy designation from the FDA.
Zymeworks Inc. (NYSE: ZYME) reported Q1 2021 financial results, highlighting a significant corporate milestone with FDA clearance for zanidatamab's first Phase 3 trial in HER2-positive gastric cancer. Revenue decreased to $0.6 million from $8.3 million in Q1 2020, attributed to fewer milestone payments. Research and development expenses rose to $44.3 million, leading to a net loss of $44.6 million. Despite these challenges, Zymeworks maintains $411.5 million in cash resources, forecasting continued investment in clinical trials and strategic partnerships.
Zymeworks Inc. (NYSE: ZYME) announced the transition of Diana Hausman, M.D., from Chief Medical Officer to an executive advisory role effective until November 15, 2021. Neil Josephson, M.D., currently Senior Vice President, will serve as interim CMO. Dr. Hausman played a pivotal role in advancing zanidatamab through significant clinical milestones. Under Josephson's leadership, Zymeworks aims to continue progressing towards the commercialization of zanidatamab, which has received Breakthrough Therapy designation by the FDA.
Zymeworks Inc. (NYSE:ZYME) will present at the 2021 Bloom Burton Healthcare Investor Conference on April 20-21, 2021. The presentation is scheduled for April 20 at 11:30 a.m. ET and can be accessed via a live webcast on Zymeworks’ website. The company focuses on developing multifunctional biotherapeutics, with its lead candidate, zanidatamab (ZW25), currently in pivotal trials for HER2-amplified biliary tract cancer. Zymeworks is also advancing ZW49, a bispecific HER2-targeting antibody-drug conjugate, along with a robust preclinical pipeline.
Zymeworks Inc. (NYSE: ZYME) announced five presentations at the AACR Annual Meeting, focusing on new insights into zanidatamab's mechanisms of action, the introduction of its ProTECT™ therapy platform, and two preclinical assets targeting IL-12 and 4-1BB. Presentations highlighted zanidatamab's promising activity in HER2-expressing cancers and its current pivotal trial for biliary tract cancer. The ProTECT™ platform aims to enhance safety and efficacy by selectively activating therapies in the tumor microenvironment. These insights support Zymeworks’ clinical strategies and development of diverse cancer treatments.
Zymeworks Inc. (NYSE: ZYME) announced five abstracts for poster presentations at the AACR Annual Meeting 2021, taking place virtually from April 10-15, 2021. Highlights include presentations on the PROTECT™ antibody platform, tumor-specific IL-12 engineering, insights into bispecific antibodies, and the bispecific antibody zanidatamab's mechanisms and anti-tumor activity in HER2 cancers. Zymeworks is advancing its lead candidate, zanidatamab, in pivotal clinical trials for refractory HER2-amplified biliary tract cancer and other HER2-expressing cancers.
Zymeworks Inc. (NYSE: ZYME) reported a 32% revenue increase in 2020, reaching $39.0 million, up from $29.5 million in 2019. The growth was driven by milestone payments from partnerships. Research and development expenses rose significantly to $168.5 million, reflecting expanded clinical trials for zanidatamab and ZW49. The company received a Breakthrough Therapy designation for zanidatamab, paving the way for pivotal trials in 2021. Additionally, Zymeworks strengthened its balance sheet with a $320.8 million public financing.
Zymeworks Inc. (NYSE: ZYME) announced its participation in five upcoming virtual investor conferences. Key events include the Barclays Global Healthcare Conference on March 11, 2021, where Zymeworks will present at 1:15 p.m. ET. Other conferences include the Guggenheim Healthcare Talks and SVB Leerink’s 10th Annual Global Healthcare Conference, both without public presentations. Interested parties can access a live webcast of the Barclays presentation on Zymeworks’ website. Zymeworks focuses on developing advanced biotherapeutics, including its lead candidate, zanidatamab.
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