Business
Zymeworks Provides Corporate Update and Reports Second Quarter 2023 Financial Results
Net loss for the first six months of 2023 decreased by 45% as compared to the same period in 2022Cash resources of $431.4 million as of June 30, 2023 expected
About this update from Zymeworks Inc.
[{"type":"text","content":"Net loss for the first six months of 2023 decreased by 45% as compared to the same period in 2022Cash resources of $431.4 million as of June 30, 2023 expected to fund planned operations through at least the end of 2026, and potentially beyondPresented full clinical results from Phase 2b study of zanidatamab monotherapy in previously treated HER2-amplified biliary tract cancers (BTC) at the Annual Meeting of American Society of Clinical Oncology (ASCO)Announces next investigational new drug application (IND) candidate, ZW220, a NaPi2b-targeted topoisomerase 1 inhibitor (TOPO1i) antibody drug conjugate (ADC), anticipated for IND filing in 1H-2025Additional preclinical and clinical data from multiple product candidates in our product pipeline expected to be presented at medical/scientific meetings during 2H-2023Announced appointment of industry veteran Carlos E. Campoy to board of directors Will host conference call with management today at 4:30 p.m. Eastern Daylight Time (EDT) VANCOUVER, British Columbia, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing novel multifunctional biotherapeutics, today reported financial results for the three and six months ended June 30, 2023 and provided a summary of recent business highlights. “During the second quarter of 2023, we made excellent progress in advancing several of our key planned corporate goals for the year,” said Kenneth Galbraith, Chair, President and Chief Executive Officer of Zymeworks. \"We continue to provide support to our partners, Jazz Pharmaceuticals Ltd. (Jazz) and BeiGene, Ltd. (BeiGene) for their regulatory interactions and initial regulatory submissions of zanidatamab in second-line biliary tract cancer. We look forward to the top-line data readout from the zanidatamab Phase 3 gastroesophageal adenocarcinoma (GEA) pivotal trial (HERIZON-GEA-01) expected in 2024.\" “As we move into the second half of the year, we are rapidly progressing our ‘5 by 5’ goal of having five novel therapeutic candidates in clinical studies by 2027. ZW171 and ZW191 currently remain on track for anticipated IND filings in 2024, and we have nominated an additional preclinical development candidate, ZW220, with an expected IND filing in the first half of 2025. We strongly believe that zanidatamab and our early-stage product candidat...