Financial Performance - The company reported a significant increase in revenue, with a year-over-year growth of 25% for the third quarter, totaling $150 million[16]. - The company anticipates a revenue growth of 30% for the next quarter, projecting total revenue of $195 million[16]. - Total revenue for the three months ended September 30, 2024, decreased by $0.5 million compared to the same period in 2023, with $12.1 million from Jazz, $2.5 million from GSK, and $1.4 million from BeiGene[134]. - Total revenue decreased by $13.8 million for the nine months ended September 30, 2024, compared to the same period in 2023[135]. - Revenue from research collaborations decreased by 23% to $45.3 million for the nine months ended September 30, 2024, from $59.1 million in the same period in 2023[136]. - The company reported a basic net loss per share of $1.30 for the nine months ended September 30, 2024, compared to $1.53 for the same period in 2023, reflecting a decrease of approximately 15.0%[40]. User Engagement - User data showed a 15% increase in active users, reaching 1.2 million by the end of the quarter[16]. Market Expansion - The company is expanding its market presence in Europe, targeting a 10% market share by the end of the fiscal year[16]. Research and Development - Research and development expenses increased by 20%, amounting to $30 million, reflecting the company's commitment to innovation[16]. - The company incurred research and development expenses of $6,477,000 for the nine months ended September 30, 2024, compared to $677,000 for the same period in 2023[65]. - Research and development expenses decreased by $20.5 million for the nine months ended September 30, 2024, primarily due to a decrease in expenses for zanidatamab[139]. - The company expects research and development expenditures to increase over time, subject to periodic fluctuations, in line with the advancement of clinical development[138]. Strategic Initiatives - New product launches are expected to contribute an additional $20 million in revenue over the next two quarters[16]. - The company successfully completed a strategic acquisition, enhancing its product portfolio and expected to generate $10 million in synergies[16]. - The company has secured a new partnership with a leading biotech firm, which is projected to accelerate product development timelines[16]. Financial Position - Total current assets decreased from $412,926 thousand as of December 31, 2023, to $343,769 thousand as of September 30, 2024, a decline of approximately 16.7%[17]. - Total liabilities increased from $116,074 thousand as of December 31, 2023, to $120,174 thousand as of September 30, 2024, an increase of approximately 3.6%[17]. - Cash and cash equivalents decreased from $157,557 thousand as of December 31, 2023, to $122,356 thousand as of September 30, 2024, a decline of about 22.3%[17]. - The total stockholders' equity decreased from $464,806 thousand as of December 31, 2023, to $366,978 thousand as of September 30, 2024, a decline of approximately 21%[17]. - The company reported a net loss of $37,686,000 for the quarter ending June 30, 2024, contributing to an accumulated deficit of $746,776,000[22]. - As of September 30, 2024, the company reported a net loss of $99.2 million for the nine months ended, with an accumulated deficit of $797.8 million[113]. Operational Efficiency - The company is focused on improving operational efficiency, aiming to reduce costs by 15% over the next year[16]. - The company reported a comprehensive loss of $27,945 thousand for the three months ended September 30, 2024, compared to a comprehensive loss of $29,172 thousand for the same period in 2023, a decrease of approximately 4.2%[19]. Stock and Equity - The weighted-average common stock outstanding for the three months ended September 30, 2024, was 76,128,531 shares, an increase from 70,575,773 shares for the same period in 2023[19]. - The issuance of common stock on the exercise of options resulted in an increase of 495,640 shares, raising $5,208,000 during the quarter ending June 30, 2024[22]. - The company completed a private placement on December 28, 2023, raising gross proceeds of $50,000 million from the sale of 5,086,521 pre-funded warrants[50]. - The company reported stock options outstanding of 7,016,762 as of September 30, 2024, with an aggregate intrinsic value of $19,081,000[62]. Risks and Challenges - The company highlighted potential risks including regulatory challenges and market competition, which could impact future performance[16]. - The company reported an impairment charge of $17,287 million for in-process research and development assets due to the discontinuation of the zanidatamab zovodotin clinical development program[45]. Future Outlook - The company expects to conduct a live R&D day on December 12, 2024, featuring updates on solid tumor targeting antibody-drug conjugates[119]. - The company remains eligible to receive up to $1.55 billion in potential milestone payments related to zanidatamab, pending regulatory approval[121].

Presentations highlight key preclinical data that support investigational new drug application (IND) submissions for ZW220 in 1H and ZW251 in 2H in 2025 VANCOUVER, British Columbia, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced new preclinical data for Zymeworks’ antibody-drug conjugate (ADC) candida ...

Global Phase 1 clinical trial will evaluate the safety and tolerability of ZW171 in treatment of ovarian cancer, non-small cell lung cancer (NSCLC), and other mesothelin (MSLN) expressing cancers VANCOUVER, British Columbia, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced that the first patient has bee ...

VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced that management will report its third quarter 2024 financial results after market close on October 31, 2024. Following the announcement, management will host a conference call and webcast to discuss financial results and provi ...

Scientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment advice. Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not r ...

VANCOUVER, British Columbia, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME) a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat cancers and other diseases, today announced two presentations highlighting results from recent preclinical research for Zymeworks' antibody-drug conjugate candidates ZW220 and ZW251. Results will be presented at the European Organisation for Research a ...

VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today reported, as required by the Nasdaq Stock Market Rule 5635(c) (the "Nasdaq Rule"), an equity inducement award to Ms. Leone Patterson, Zymeworks' Executive Vice President and Chief Business and Financial Officer. In accordance with the ...

| --- | --- | --- | --- | --- | --- | |-------------------------------|-------|-----------------------------|-------|-------|-------| | | | | | | | | | | | | | | | Q2 2024 Results | | | | | | | | | Conference Call and Webcast | | | | | August 1, 2024 | | | | | | | Nasdaq: ZYME \| zymeworks.com | | | | | | Forward-Looking Statements This presentation and the accompanying oral commentary include "forward-looking statements" or information within the meaning of the applicable securities legislation, including ...

Zymeworks Inc. (ZYME) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.76 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this company would post a loss of $0.31 per share when it actually produced a loss of $0.42, delivering a surprise of -35.48%. Over the last four quarters, the company has surpass ...

VANCOUVER, British Columbia, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME) (the "Company"), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced that its Board of Directors has authorized a Share Repurchase Program under which the Company may repurchase up to $60.0 million of the Company's outstanding common stock, par value $0.00001 per share. Zymework ...