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Zymeworks Files Preliminary Prospectus Supplements for Offering of Common Shares and Pre-Funded Warrants
VANCOUVER, British Columbia---(BUSINESS WIRE)-- Zymeworks Inc. (NYSE: ZYME) (“Zymeworks” or the “Company”), a clinical‑stage biopharmaceutical company
About this update from Zymeworks Inc.
[{"type":"text","content":" VANCOUVER, British Columbia---(BUSINESS WIRE)--\nZymeworks Inc. (NYSE: ZYME) (“Zymeworks” or the “Company”), a clinical‑stage biopharmaceutical company developing multifunctional biotherapeutics, has today filed a preliminary prospectus supplement (the “Canadian Supplement”) to its Canadian short form base shelf prospectus dated November 18, 2019 (the “Base Prospectus”) in connection with an offering of its common shares and, in lieu of common shares to a certain investor, pre-funded warrants to purchase its common shares (the “Offering”). The Canadian Supplement was filed with the securities regulatory authorities in each of the provinces and territories of Canada. A preliminary prospectus supplement (the “U.S. Supplement,” together with the Canadian Supplement, the “Supplements”) was also filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of an automatic shelf registration statement on Form S-3ASR, including a prospectus dated November 5, 2019 (the “Registration Statement”) which has been filed with the SEC and was automatically declared effective, pursuant to which the securities will be offered in the United States.\n\n\nThe Company also expects to grant to the underwriters a 30-day over-allotment option to purchase up to an additional 15% of the number of common shares offered in the Offering. The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to customary closing conditions, including the listing of the common shares on the NYSE and any required approvals of the exchange. The pre-funded warrants will not be listed on the NYSE.\n\n\nThe Offering is expected to raise total gross proceeds of approximately US$200.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds of the Offering (i) to accelerate and expand the global development of ZW25 both as a single agent and in combination with other anti-cancer agents in a variety of HER2-expressing tumors, including gastroesophageal, biliary tract, breast and other underserved cancers; (ii) to accelerate a...