Zymeworks(US:ZYME)2025-11-06 21:08Financial Performance - Total revenue for Q3 2025 was $27.6 million, up from $16.0 million in Q3 2024, primarily due to a $25.0 million milestone from Johnson & Johnson and $1.0 million in royalty revenues[13] - Net loss for Q3 2025 was $19.6 million, an improvement from a net loss of $29.9 million in Q3 2024, attributed to increased revenue[13] - Revenue from research and development collaborations for Q3 2025 was $27,614,000, a 72.9% increase from $16,000,000 in Q3 2024[19] - Basic net loss per common share for Q3 2025 was $(0.26), an improvement from $(0.39) in Q3 2024[19] - Loss from operations for the nine months ended September 30, 2025, was $48,397,000, significantly improved from $114,893,000 for the same period in 2024[19] Expenses - Research and Development (R&D) expenses were $35.6 million in Q3 2025, slightly down from $36.4 million in Q3 2024, reflecting a decrease in expenses for several product candidates[13] - Total operating expenses for Q3 2025 were $49,724,000, slightly down from $50,205,000 in Q3 2024[19] Cash and Assets - Cash resources as of September 30, 2025, were $299.4 million, projected to fund operations into the second half of 2027[14] - Cash, cash equivalents, and short-term marketable securities increased to $251,933,000 as of September 30, 2025, up from $225,776,000 at the end of 2024[20] - Total assets decreased to $397,269,000 as of September 30, 2025, down from $463,091,000 at the end of 2024[20] - Stockholders' equity as of September 30, 2025, was $320,064,000, a decrease from $338,768,000 at the end of 2024[20] - Total liabilities decreased to $77,205,000 as of September 30, 2025, down from $124,323,000 at the end of 2024[20] Clinical Development - Initial Phase 1 clinical data for ZW191 showed an overall objective response rate of 53% and 64% for gynecological cancers[10] - The first patient was dosed in the Phase 1 trial of ZW251 for hepatocellular carcinoma, indicating progress in clinical development[7] - Zymeworks achieved a $25.0 million development milestone from Johnson & Johnson in Q3 2025 related to the clinical progress of pasritamig[11] Shareholder Actions - Share repurchases totaled $22.7 million as of November 4, 2025, under a $30.0 million program, enhancing shareholder value[13] - The company appointed Dr. Adam Schayowitz as Acting Chief Development Officer to support its strategic vision and advance its product portfolio[11] Accounts Receivable - Accounts receivable decreased to $29,352,000 as of September 30, 2025, from $55,815,000 at the end of 2024[20]