Slide 1: 2Q 2025 Results
2Q 2025 Results Conference Call and Webcast August 7, 2025 Nasdaq: ZYME | zymeworks.com
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation and the accompanying oral commentary include “forward-looking statements” or information within the meaning of the applicable securities legislation, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
Slide 3: 2Q 2025 Earnings Results Call Agenda
2Q 2025 Earnings Results Call Agenda Leone Patterson, MBA, CPA Sabeen Mekan, MD Paul Moore, Ph.D. Ken Galbraith EVP, CBO and CFO SVP Clinical Development CSO Chair and CEO • Business Update • Clinical Updates • R&D Update • Q&A • Financial Update • Q&A • Q&A • Q&A 3
Slide 4: Financial Update
FINANCIAL UPDATE Leone Patterson, MBA, CPA Executive Vice President, Chief Business and Financial Officer 4
Slide 5: Continued Progress Across Business in 2Q 2025
Continued Progress Across Business in 2Q 2025 Pipeline Zanidatamab Platform Progress Progress Partnership Updates • Jazz presented encouraging OS data for Poster presentations for our wholly- • Bristol Myers Squibb collaboration zanidatamab in 1L HER2+ GEA at the owned product pipeline at: progresse
Slide 6: Diverse Potential Revenue Streams from Existing Partnerships
Diverse Potential Revenue Streams from Existing Partnerships • Near-Term Revenue Catalysts: Continued royalties from Jazz and initial royalties from BeOne Medicines for Ziihera® expected in 2025. • Long-Term Growth Potential: Wholly-owned assets provide flexibility for future licensing and royalty o
Slide 7: 2Q 2025 Revenues, Operating Expenses and Cash Resources
2Q 2025 Revenues, Operating Expenses and Cash Resources Revenue Operating Expenses Cash, Cash equivalents and (USD) Royalty (USD) Impairment Marketable Securities (USD) Research support G&A $0.6M fee & drug supply R&D $2.3M Milestone & option $333.4M $45.8M exercise $17.3M $15.0M $324.2M $15.7M $34.
Slide 8: Clinical Development Update
CLINICAL DEVELOPMENT UPDATE Sabeen Mekan, MD SVP Clinical Development 8
Slide 9: ZW171: Global Phase 1 Study in MSLN-Expressing Solid Tumors
ZW171: Global Phase 1 Study in MSLN-Expressing Solid Tumors (NCT06523803) Open-label, FIH, dose-escalation study (N~160) 21-day DLT evaluation period Part 1: Dose Escalation (N=~40) Part 2: Dose Optimization and Expansion Advanced Ovarian cancer and NSCLC malignancies. ZW171 administered weekly on D
Slide 10: ZW191: Global Phase 1 Study in FRα-Expressing Solid Tumors
ZW191: Global Phase 1 Study in FRα-Expressing Solid Tumors (NCT06555744) Open-label, FIH, dose-escalation study (N~145) Part 1: Dose Escalation Part 2: Dose Optimziation/Expansion Part 2a: Dose Optimization Ovarian cancera Ovarian cancer Cohort 1: Randomized 1:1 into 2 Dose Levels Ovariana Dose Leve
Slide 11: Research & Development Update
RESEARCH & DEVELOPMENT UPDATE Paul Moore, Ph.D. Chief Scientific Officer 11
Slide 12: IND Clearance for ZW251: A Potential First-in-Class ADC Against GPC3
IND Clearance for ZW251: A Potential First-in-Class ADC Against GPC3 ZW251 demonstrates compelling pre- GPC3 is prevalent and highly expressed ZW251 clinical efficacy against models of HCC in hepatocellular carcinoma (HCC) A Novel GPC3-targeting ADC • Novel TOPOi1 inhibitor payload, ZD06519 with dru
Slide 13: ZW251 Well-Tolerated in Repeat Dose Non-GLP Non-Human Primate Toxicology Study
ZW251 is Well-Tolerated in a Repeat Dose Non-GLP Non-Human Primate Toxicology Study with a Maximum Tolerated Dose of 120 mg/kg and Favorable PK Dose Clinical Histo- Clinical T1/2 Schedule Mortality Hematology MTD (mg/kg) observations pathology Chemistry (day) 20 4.6 None None 60 4.8 Decreased 120 q
Slide 14: ZW1528: IL-4Ra x IL33 Bispecific Designed to Address Respiratory Inflammation
ZW1528: IL-4Ra x IL33 Bispecific Designed to Address Respiratory Inflammation Potential novel therapeutic for COPD Compelling pre-clinical activity ZW1528 Inhibition of Type 2 lung inflammation in murine COPD occurs in adults; smoking is a major risk factor IL-4Rα x IL-33 Bispecific house dust mite
Slide 15: Meaningful Catalyst Events Anticipated Throughout 2025 & 2026
Meaningful Catalyst Events Anticipated Throughout 2025 & 2026 2025 2026 EMA and NMPA granted approval of Initial royalty revenue for Ziihera® Expected IND submission for zanidatamab for BTC, expanding from BeiGene collected ZW209 (DLL3) in 1H 2026 patient access and potential royalties payable to Zy
Slide 16: Q&A
Q&A Ken Galbraith Chair & CEO Paul Moore, Ph.D. CSO Leone Patterson, MBA, CPA EVP, CBO and CFO Sabeen Mekan, MD SVP Clinical Development 16