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Zymeworks Inc. (ZYME) Reports Q3 Loss, Lags Revenue Estimates
ZYMEZymeworks(ZYME) ZACKS· ZACKS·2024-10-31 22:20

Company Performance - Zymeworks Inc. reported a quarterly loss of 0.39pershare,slightlybetterthantheZacksConsensusEstimateofalossof0.39 per share, slightly better than the Zacks Consensus Estimate of a loss of 0.40, and an improvement from a loss of 0.41pershareayearago,resultinginanearningssurpriseof2.500.41 per share a year ago, resulting in an earnings surprise of 2.50% [1] - The company posted revenues of 16 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 12.98%, and down from 16.51millioninthesamequarterlastyear[2]−Overthelastfourquarters,ZymeworkshassurpassedconsensusEPSestimatesthreetimes,buthasnotbeatenconsensusrevenueestimatesduringthisperiod[2]StockPerformance−Zymeworksshareshaveincreasedapproximately33.516.51 million in the same quarter last year [2] - Over the last four quarters, Zymeworks has surpassed consensus EPS estimates three times, but has not beaten consensus revenue estimates during this period [2] Stock Performance - Zymeworks shares have increased approximately 33.5% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] - The current consensus EPS estimate for the upcoming quarter is 0.19 on revenues of 57.7million,whileforthecurrentfiscalyear,theestimateis−57.7 million, while for the current fiscal year, the estimate is -1.15 on revenues of $104.22 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Zymeworks belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Zymeworks' stock performance [5]