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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. (Nasdaq: ZYME) has reported an equity inducement award to Ms. Leone Patterson, their new Executive Vice President and Chief Business and Financial Officer. The award, granted under Nasdaq Stock Market Rule 5635(c), consists of a stock option to purchase 360,000 shares of the company's common stock. The option has an exercise price of $11.73 per share, equal to the closing price on August 30, 2024, and a maximum term of 10 years.
The option will vest over four years, with 25% vesting on the one-year anniversary of Ms. Patterson's start date (September 1, 2024), and the remaining 75% vesting monthly over the following three years. In the event of a change of control followed by termination without cause within 12 months, all unvested shares will fully vest.
Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company, has announced its participation in four upcoming investor conferences in September 2024. These events include:
- Wells Fargo Healthcare Conference on September 4 in Boston, MA
- Morgan Stanley 22nd Annual Global Healthcare Conference on September 5 in New York, NY
- H.C. Wainwright 26th Annual Global Investment Conference on September 10 in New York, NY
- 2024 Cantor Global Healthcare Conference on September 18 in New York, NY
At each conference, Zymeworks' management will engage in one-on-one meetings and participate in fireside chats. The company, which focuses on developing novel, multifunctional biotherapeutics for difficult-to-treat diseases, aims to improve its visibility among investors and showcase its progress in the biotechnology sector.
Augurex Life Sciences Corp., a leader in early autoimmune disease diagnosis, has appointed Neil Klompas as President and CEO, succeeding co-founder Dr. Norma Biln. Dr. Biln will transition to global head of product research and development while remaining Board Chair. Klompas, a veteran life sciences executive with over 30 years of experience, most recently served as President and COO of Zymeworks (NASDAQ: ZYME).
Augurex's key products include JOINTstat®, a diagnostic for autoimmune arthritic diseases, and the upcoming SPINEstat®, a potential first-in-class diagnostic for Ankylosing Spondylitis. Klompas aims to lead Augurex into its next phase of commercial growth, focusing on delivering value to patients and shareholders.
Zymeworks Inc. (Nasdaq: ZYME) has announced a $60 million Share Repurchase Program authorized by its Board of Directors. The company plans to initiate the program with $30 million in initial repurchases, starting promptly and continuing through the second half of 2024. The remaining $30 million will be reserved for future repurchases, allowing flexibility to adapt to market conditions and growth opportunities.
Kenneth Galbraith, Chair and CEO, stated that this decision reflects confidence in the company's future outlook, pipeline strength, and commitment to stockholder value. The program will be funded through Zymeworks' strong balance sheet and may be executed through open market transactions or other means, in accordance with SEC regulations. The timing, number of shares, and prices will depend on various factors, and the program can be suspended or discontinued at any time.
Zymeworks Inc. (Nasdaq: ZYME) reported its Q2 2024 financial results and provided a corporate update. Key highlights include:
- $395.9 million in cash resources as of June 30, 2024, with projected runway into 2H 2027
- Priority Review granted for zanidatamab BLA in HER2-positive biliary tract cancers (BTC) with target action date of November 29, 2024
- EMA validated the MAA for zanidatamab in 2L BTC
- $8 million milestone payment received from BeiGene for zanidatamab BLA acceptance in China
- FDA clearance for ZW191 and ZW171 INDs, with first-in-human studies planned for 2H 2024
- Appointment of Leone Patterson as EVP, Chief Business Officer and CFO
Financial results: $29.3 million revenue for H1 2024, net loss of $69.3 million, decreased from $75.5 million in H1 2023.
Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company, has announced its participation in two upcoming investor conferences. The company, which focuses on developing novel, multifunctional biotherapeutics for difficult-to-treat diseases, will be present at:
1. BTIG Virtual Biotechnology Conference on August 6, where management will engage in virtual one-on-one meetings and a fireside chat at 4:00 pm ET.
2. Wedbush PacGrow Healthcare Conference on August 13-14 in New York, NY. Here, Zymeworks will participate in a panel discussion titled 'ADCs and Old Lace: Antibody Drug Conjugates' on August 14 from 8:45 – 9:25 am ET, as well as one-on-one meetings throughout the event.
These conferences provide Zymeworks with opportunities to showcase their progress and engage with investors in the biotechnology sector.
Zymeworks Inc. (Nasdaq: ZYME) has appointed Leone Patterson as Executive Vice President, and Chief Business and Financial Officer, effective September 1, 2024. With over 20 years of public company biotech experience, Patterson brings expertise in guiding strategy, finance, operations, and governance through various growth phases. She will be instrumental in supporting Zymeworks' '5 by 5' goal of having five novel antibody-drug conjugates or T cell engagers in clinical studies by 2026, and advancing R&D programs into clinical studies by 2027.
Patterson's prior roles include Chief Financial and Business Officer at Tenaya Therapeutics and leadership positions at Adverum Biotechnologies. She currently serves on the boards of Nkarta, Inc. and Oxford Biomedica. Based in Zymeworks' new Redwood City, California location, Patterson will focus on developing long-term financial strategies and supporting strategic business decisions.
Zymeworks Inc. (Nasdaq: ZYME) announced FDA clearance of its Investigational New Drug (IND) application for ZW191, a novel folate receptor-⍺ (FR⍺) targeted topoisomerase I inhibitor antibody-drug conjugate (ADC). ZW191 targets FR⍺-expressing tumors, including ovarian, gynecological cancers, and non-small cell lung cancer (NSCLC). The drug incorporates a unique combination of antibody-linker stability and payload potency, with strong bystander activity.
Key features of ZW191 include:
- A drug-antibody ratio of eight for balanced tolerability and efficacy
- In-house generated FR⍺ monoclonal antibody for enhanced internalization
- Ability to target high, mid, and low levels of FR⍺ expression
- Robust anti-tumor activity and strong safety profile in preclinical models
Zymeworks, a clinical-stage biotech firm listed on Nasdaq under the symbol ZYME, will announce its Q2 2024 financial results after market close on August 1, 2024. The company develops novel biotherapeutics for hard-to-treat diseases. Following the financial release, Zymeworks' management will host a conference call and webcast at 4:30 pm ET on the same day to discuss the results and provide a corporate update. The webcast will be available live, with replays accessible on the Zymeworks website.
Zymeworks (Nasdaq: ZYME) announced that the FDA has cleared its investigational new drug (IND) application for ZW171, a novel 2+1 T-cell targeting bispecific antibody designed to treat mesothelin (MSLN)-expressing cancers such as ovarian cancer, non-small cell lung cancer, and mesothelioma.
ZW171 aims to improve upon current bispecific T-cell engagers by enhancing tumor selectivity and safety, demonstrating promising preclinical results.
The company plans to initiate clinical trials in 2024 and seek regulatory approval in other regions in the latter half of 2024, aligning with its ‘5 by 5’ strategy to advance additional therapies over the next two years.
ZW171 has shown potential to provide a more effective and tolerable treatment option, leveraging Zymeworks' Azymetric™ and EFECT™ technologies to enhance anti-tumor activity and safety.
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