Could Zymeworks' blockbuster drug success revive Vancouver biotech scene?
Zymeworks Inc. has achieved a significant breakthrough with its lead cancer drug, Zanidatamab, proving effective in Phase 3 trials, potentially generating billions in sales. This success is poised to invigorate Vancouver's biotech sector by creating jobs, attracting investment, and fostering a skilled workforce. The company also has other promising drugs in its pipeline and plans to diversify by investing in future royalty streams from other biotech firms.
Could Zymeworks' blockbuster drug success revive Vancouver biotech scene?
Zymeworks Inc. has achieved a significant breakthrough with its lead cancer drug, Zanidatamab, which has proven effective in Phase 3 trials and is poised for commercialization, potentially generating billions in sales. This success, along with other promising drugs in its pipeline and strategic investments in other biotech companies, positions Zymeworks as a key player in revitalizing Vancouver's life sciences sector. The company's growth and job creation are expected to create a ripple effect, attracting further investment and talent to the local biotech ecosystem.
Jazz, Zymeworks Bispecific Achieves ‘Practice-Changing’ Results in Stomach Cancer Study
Jazz Pharmaceuticals and Zymeworks' HER2 bispecific antibody Ziihera significantly improved progression-free survival in a Phase III study for gastroesophageal adenocarcinoma, paving the way for a regulatory filing in early 2026. Analysts are optimistic about Ziihera's potential to replace existing HER2-targeting therapies and are projecting peak revenues of around $2.9 billion. The drug works by binding to two sites on the HER2 protein, leading to fewer HER2 receptors on cancer cells and activating the immune system.
Zymeworks stock hits four-year high on promising results from digestive cancer trial
Zymeworks Inc. stock reached a four-year high following promising results from a late-stage human efficacy trial for its lead drug, Ziihera, in combination with chemotherapy for advanced metastatic gastroesophageal adenocarcinoma (GEA). The drug demonstrated statistically significant and clinically meaningful improvements in prolonging the period without cancer worsening or spreading. This development marks a significant turning point for Zymeworks, especially after a period of investor doubt and a strategic shift under its new CEO, Kenneth Galbraith.
Zymeworks (ZYME) Soars on Positive Phase 3 Ziihera Data in Gastric Cancer – What Today’s Breakthrough Means for the Stock and Patients
Zymeworks Inc. announced positive topline Phase 3 results for Ziihera (zanidatamab-hrii) in HER2-positive gastroesophageal adenocarcinoma, showing significant improvements in progression-free and overall survival. Development partner Jazz Pharmaceuticals plans to file an sBLA in 1H 2026, positioning Ziihera as a potential new first-line standard of care. This breakthrough sent ZYME stock soaring in pre-market trading and could materially alter Zymeworks' financial forecasts and long-term narrative, despite the company remaining loss-making.
FDA approves cancer drug developed by B.C.'s Zymeworks
The FDA has granted accelerated approval for Ziihera, a new drug for biliary tract cancer developed by Zymeworks Inc. in partnership with Jazz Pharmaceuticals. This approval triggers a $25-million milestone payment to Zymeworks and makes them eligible for over $1 billion in total milestone payments and royalties. The drug validates Zymeworks' Azymetric bispecific platform technology and marks their first FDA-approved therapy.
Jazz Pharmaceuticals and Zymeworks Announce Exclusive License Agreement to Develop and Commercialize Zanidatamab, a HER2-Targeted Bispecific Antibody
Jazz Pharmaceuticals and Zymeworks Inc. announced an exclusive licensing agreement for Jazz to develop and commercialize zanidatamab, a HER2-targeted bispecific antibody, in key markets including the U.S., Europe, and Japan. Zymeworks will receive an upfront payment of $50 million, a potential second payment of $325 million, and up to $1.76 billion in total potential payments through regulatory and commercial milestones, plus royalties on net sales. This agreement expands Jazz's oncology portfolio with a late-stage asset that has shown compelling anti-tumor activity, aiming to address unmet patient needs in HER2-expressing cancers like biliary tract cancer and gastroesophageal adenocarcinoma.
Zymeworks: Its Post-Approval Future (NASDAQ:ZYME)
Zymeworks' recently approved bispecific HER2 antibody, Ziihera, has significant sales potential, especially if approved for stomach and breast cancers. The company, via its partner Jazz Pharmaceuticals, is conducting multiple trials to expand Ziihera's indications and is also advancing an early-stage pipeline. The stock has seen recent beneficial owner purchases, indicating potential confidence in its future.
Opinion: Four trends to watch in B.C.'s tech sector
This article forecasts four key trends for British Columbia's tech sector in 2025: navigating a challenging venture capital environment, leveraging AI/ML capabilities, capitalizing on international events, and adapting to political and regulatory uncertainties. It highlights Zymeworks' success as an example and details other achievements by B.C. innovators in biotech, cleantech, and finance, emphasizing the importance of strategic adaptation and seizing emerging opportunities.
Clinical Focus: Zymeworks Discontinues Development of ZW171 in Phase 1 Trial
Zymeworks has halted the clinical development of its mesothelin-directed T-cell engager ZW171 due to an unfavorable benefit-risk profile identified during a Phase 1 study, despite promising preclinical data. The company is now re-focusing its resources on other pipeline candidates, including ZW191, ZW251, and plans for an IND filing for ZW209 in early 2026. This decision follows a similar discontinuation of ZW49 development and emphasizes Zymeworks' commitment to advancing product candidates with the highest potential impact for patients.
Immunovant's Q1 Loss Narrower Than Expected, Pipeline in Focus
Immunovant (IMVT) reported a Q1 fiscal 2026 adjusted net loss of 60 cents per share, which was narrower than the Zacks Consensus Estimate of a 69-cent loss. The company's pipeline, particularly the next-generation FcRn inhibitor IMVT-1402, is a key focus with several clinical studies on track for various autoimmune indications. Immunovant expects its cash balance of $598.9 million to fund clinical activities through 2027.
Zymeworks Inc. (NYSE:ZYME) Q1 2024 Earnings Call Transcript
Zymeworks Inc. reported its Q1 2024 earnings, with a net loss of $31.7 million, exceeding analyst expectations, and detailed progress on its clinical development programs, particularly for zanidatamab in various cancers. The company highlighted advancements in its multispecific antibody and antibody-drug conjugate platforms, presenting data at AACR, and discussed its strong financial position with a cash runway into the second half of 2027. Zymeworks also addressed strategic partnerships and potential expansion into autoimmune diseases, emphasizing its commitment to innovation and efficient resource management.
B.C. biotech Zymeworks gets $50M private placement
B.C. biotech firm Zymeworks Inc. secured a $50 million private placement from EcoR1 Capital, its largest stockholder. This investment strengthens Zymeworks' financial position, extends its cash runway into the second half of 2027, and will fuel its "5 by 5" research and development strategy, including new drug application filings in 2024. The news positively impacted Zymeworks' stock price, which had seen a significant decline in 2022 but has been recovering since October 2023.
Zymeworks Provides Corporate Update and Reports Third Quarter 2023 Financial Results
Zymeworks Inc. has reported its financial results for the third quarter of 2023, showing a 44% decrease in net loss for the first nine months compared to the previous year, alongside cash resources projected to fund operations through at least the end of 2026. The company highlighted key advancements in its product pipeline, including positive clinical data for zanidatamab from its partners and the nomination of ZW251 as its latest IND candidate targeting hepatocellular carcinoma. Zymeworks also outlined its "5 by 5" strategy, anticipating multiple clinical study initiations and a major data readout in the coming years.
Zanidatamab Shows Activity in Refractory HER2-Amplified Biliary Tract Cancer
Research presented at the 2023 ASCO Annual Meeting and published in The Lancet Oncology has shown that the HER2-targeted bispecific antibody zanidatamab demonstrated durable responses in patients with treatment-refractory HER2-positive biliary tract cancer. The global phase II HERIZON-BTC-01 trial reported a confirmed objective response rate of 41% with a median duration of response of 12.9 months in the HER2-positive cohort. These findings suggest zanidatamab could be a new treatment option for patients with limited alternatives, as standard chemotherapy typically yields only a 5% response rate in this population.
Wilson Sonsini Advises Zymeworks on Exclusive Licensing Agreement with Jazz Pharmaceuticals
Wilson Sonsini advised Zymeworks on an exclusive licensing agreement with Jazz Pharmaceuticals for zanidatamab development and commercialization. Under the agreement, Zymeworks could receive up to $1.76 billion in payments, including a $50 million upfront payment, a potential $325 million payment post-clinical data readout, and additional regulatory and commercial milestone payments, along with double-digit royalties. Zanidatamab, a bispecific antibody, has received Breakthrough Therapy and Fast Track designations from the U.S. FDA for HER2-amplified biliary tract cancer and gastroesophageal adenocarcinoma.
About Us | Laser Focus World - Zymeworks Completes Plan to Become Delaware Corporation
Zymeworks Inc. has completed its redomiciliation plan, effectively becoming a Delaware corporation. This change involves Zymeworks Delaware Inc. becoming the new parent company, taking over all assets and liabilities from the former British Columbia-based entity, and issuing new common stock or exchangeable shares to shareholders. The move was approved by securityholders and is expected to facilitate Zymeworks' continued development of biotherapeutics and potential future commercialization efforts.
Zymeworks Announces Results of Special Meeting
Zymeworks Inc. securityholders approved the plan to become a Delaware corporation at a special meeting held in Vancouver, BC, on October 7, 2022. This redomicile is expected to broaden the investor base and streamline commercialization efforts for its biotherapeutics like zanidatamab. The results showed strong support, with over 93% of votes in favor from both securityholders and shareholders.
Zymeworks Reminds Shareholders to Vote FOR its Redomicile
Zymeworks is urging shareholders to vote in favor of its redomicile to a Delaware corporation before the October 5, 2022 deadline. The company believes this move will enhance long-term shareholder value, simplify commercialization efforts, and improve comparability to peers. Leading independent proxy advisory firms have also recommended a FOR vote.
Zymeworks Announces Filing and Mailing of Materials for the Special Meeting to Approve Redomicile to Delaware
Zymeworks announced the filing and mailing of materials for a special meeting of securityholders to approve its redomicile to Delaware. The company believes this move will enhance long-term value for securityholders, expand its institutional investor base, and better align it with biotechnology peers, potentially increasing the value of its common shares. The Zymeworks Board recommends securityholders vote FOR the redomicile resolution.
Zymeworks to reincorporate in Delaware as B.C. biotech faces financial strains
Zymeworks Inc., a B.C. biotech company, announced plans to reincorporate in Delaware by the end of the year, citing benefits like enhanced shareholder value and reduced administrative costs. This move comes amidst significant financial strains for the company, including net losses, layoffs, and a hostile takeover bid. Despite the reincorporation, Zymeworks states that Vancouver will remain its operational base.
Vancouver’s Zymeworks spurns ‘opportunistic’ $1B acquisition offer
Vancouver-based biotech company Zymeworks Inc. has rejected an unsolicited US$1 billion acquisition offer from Dubai-based All Blue Falcons FZE (ABF). Zymeworks' CEO Kenneth Galbraith deemed the bid "opportunistic" and "inadequate," believing the company's strategic plans will deliver greater shareholder value. ABF criticized Zymeworks' recent dilutive equity offering and the significant drop in stock price.
ALL BLUE CAPITAL EXPANDS ITS LEADERSHIP TEAM TO SUPPORT PROPOSED ACQUISITION OF ZYMEWORKS INC.
All Blue Capital has appointed Dr. Siddhartha Mukherjee as Medical Advisor to strengthen its proposed acquisition of Zymeworks Inc. for $10.50 per share. Dr. Mukherjee, a Pulitzer Prize-winning author and cancer expert, aims to help turn around Zymeworks, which All Blue claims has faced significant challenges and value erosion due to previous missteps. All Blue is urging Zymeworks' Board to engage with their proposal, threatening action to protect shareholder interests if they continue to refuse.
ALL BLUE CAPITAL EXPANDS ITS LEADERSHIP TEAM TO SUPPORT PROPOSED ACQUISITION OF ZYMEWORKS INC.
All Blue Capital announced that Siddhartha Mukherjee, MD, a Pulitzer Prize-winning author and medical expert, has joined the firm as Medical Advisor, intended to serve on Zymeworks' Board if their proposed acquisition is successful. All Blue Capital is urging Zymeworks' Board to engage with its $10.50 per share all-cash acquisition proposal, citing shareholder value destruction and the Board's prior refusal to engage on earlier concerns. The firm reiterated its intent to take the proposal directly to Zymeworks' shareholders if the Board continues to refuse engagement.
B.C. biotech Zymeworks gets US$773M acquisition offer
A Dubai-based investment firm, All Blue Falcons FZE (ABF), has made an unsolicited US$773 million acquisition offer for Vancouver biotech Zymeworks Inc. at US$10.50 per share. ABF criticized Zymeworks' leadership for "severe value erosion" and strategic missteps, leading to a significant drop in stock price. Zymeworks' board will review the proposal and advises shareholders that no formal offer has been made yet.
Zymeworks stock hits three-year low after the B.C. biotech firm announces 25-per-cent job cut, halving of management team
Zymeworks Inc. stock fell to a three-year low after the company announced a 25% job cut, reduced its leadership team by half, and shifted its development strategy to cut costs. These changes followed the appointment of Kenneth Galbraith as CEO, after a period of poor performance for the company and the biotech sector. The firm aims to improve its financial position by reducing spending, monetizing assets, and streamlining its R&D, while still focusing on its lead treatments, zanidatamab and ZW49.
Tech Moves: Adaptive CFO to resign; Meta comms exec departs; AI vet joins Absci board; new Zymeworks CEO
This article details several significant personnel changes in the tech and biotech sectors, including Chad Cohen's resignation as CFO of Adaptive Biotechnologies, Joseph Sirosh's appointment to the Absci board, John Pinette's departure from Meta, and Kenneth Galbraith becoming the new CEO of Zymeworks. It highlights the impact of these moves on the respective companies and their financial performance or strategic direction.
Hedge Funds Are Buying Zymeworks Inc. (ZYME)
Hedge fund sentiment towards Zymeworks Inc. (NYSE: ZYME) increased in Q3 2021, with 24 hedge funds holding positions, up 26% from the prior quarter. Despite this increased popularity, ZYME underperformed the market significantly, returning -44.5% since the end of Q3 through December 9th. Perceptive Advisors and Armistice Capital were among the top holders, highlighting specific institutional interest even as the stock faced difficulties.
Do Hedge Funds Love Zymeworks Inc. (ZYME)?
An analysis of Q1 2021 hedge fund filings reveals that Zymeworks Inc. (NYSE: ZYME) saw a slight decrease in hedge fund activity, with 27 funds holding positions compared to 28 in the previous quarter. Despite this, ZYME remains more popular among hedge funds than similarly valued stocks, with a sentiment score of 80.1. Perceptive Advisors, Cormorant Asset Management, and Baker Bros. Advisors were among the largest shareholders.
How I did it: Ali Tehrani
Ali Tehrani, founder of Zymeworks Inc., discusses his radical approach to drug development using computer modelling to focus research on promising leads and eliminate dead ends. He explains how the company transitioned from protein modelling for the pulp and paper industry to creating new cancer drugs, primarily funded through angel investments. Tehrani details Zymeworks' strategy of developing drugs to a late-stage proof of concept for partnership rather than pursuing full clinical trials independently.
