$ZYME Reports Strong Business Highlights and Extended Cash Runway
Mar 7th 2023, 9:07 pm
Analyst Summary: Zymeworks Inc, a clinical-stage biotechnology company, reported its financial results for Q4 and year ended December 31, 2022. The company revealed that it will host a conference call with management to discuss its recent business highlights, including the completion of a licensing agreement for zanidatamab with Jazz Pharmaceuticals, continued progress of zanidatamab with multiple clinical catalysts, and advancements in its preclinical product candidate portfolio. The CEO of Zymeworks, Kenneth Galbraith, highlighted the company's reduced cash operating burn and expected cash runway extending through 2026. The company aimed to generate five novel product candidates to move into clinical studies over the next five years, starting with investigational new drug (IND) filings for ZW171 and ZW191 on track for 2024. The company also announced the appointment of two key executives in the clinical development organization. The company has cash resources to fund planned operations through at least the end of 2026. There were no forward-looking quotes from the management in the press release.