Business
Zymeworks Reports Fourth Quarter and Full Year 2022 Financial Results
2022 was a year of transformation and change: reported $412.5 million in total revenue for the year ended December 31, 2022; reported net income of $124.3
About this update from Zymeworks Inc.
[{"type":"text","content":"\n\n2022 was a year of transformation and change:\n\n\nreported $412.5 million in total revenue for the year ended December 31, 2022;\n\n\nreported net income of $124.3 million ($1.90 per fully diluted share) for 2022 compared to net loss of $211.8 million in 2021;\n\n\nreported $492.2 million in cash resources as of December 31, 2022, with expected cash runway through 2026;\n\n\nannounced positive top-line data for pivotal Phase 2 study of zanidatamab monotherapy in 2L+ patients with HER2-amplified advanced biliary tract cancers (BTC);\n\n\npresented updated results at ASCO GI, including overall survival data, for ongoing Phase 2 study of zanidatamab in 1L patients with HER2-expressing metastatic gastroesophageal adenocarcinoma (GEA);\n\n\nclosed significant collaboration for zanidatamab with Jazz Pharmaceuticals in the fourth quarter, completing a series of financial transformation initiatives in 2022; and\n\n\ndiscussed new preclinical product candidates at early Research & Development Day in October 2022 with investigational new drug (IND) filings for ZW171 and ZW191 on track for 2024.\n\n\n\n\nAcceptance of 11 submitted abstracts to be presented at AACR in April 2023 to highlight R&D pipeline.\n\n\nAnnounced recommended Phase 2 dose (RP2D) for Phase 2 studies of zanidatamab zovodotin scheduled to commence in 2023.\n\n\nWill host conference call with management today at 4:30 p.m. Eastern Standard Time (EST).\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nZymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing novel multifunctional biotherapeutics, today reported financial results for the fourth quarter and year ended December 31, 2022 and provided a summary of recent business highlights.\n\n“As I reflect on the past year as Zymeworks' new Chair and CEO, we made significant progress across all aspects of our business to reset the Company and its R&D strategy on a new path forward to building a successful biotechnology company. We recently outlined our enterprise value framework where we will continue to focus on advancing the business across the five pillars during 2023: our two zanidatamab collaborations with BeiGene and Jazz, our early research and development programs, zanidatamab zovodotin, and our legacy platform licensing portfolio,” said Kenneth Galbraith, Chair and CEO of Zymeworks. “Wi...