From GlobeNewswire:

Zymeworks Inc. is well-positioned for further progress, with cash resources of approximately $455 million as of December 31, 2023 and a cash runway into 2H 2027. The Phase 3 trial evaluating zanidatamab in HER2-positive gastroesophageal adenocarcinoma is expected to read out in 2024, with ongoing regulatory reviews in the U.S. and China. IND applications and first-in-human studies are expected for promising candidates in 2024 and 2025. The company also announced additional leadership appointments, and a company presentation at the J.P. Morgan 42nd Annual Healthcare Conference on January 11, 2024.

Throughout 2023 Zymeworks made significant progress, including presenting positive trial data, accelerating regulatory approval, patient enrollment, and initiating rolling Biologics License Application (BLA) submission. They also unveiled and nominated new preclinical product candidates, strengthened their board, expanded their global footprint, and completed a $50 million private placement.

The company is financially well-positioned and expects to have cash resources to fund R&D programs and business operations into the second half of 2027. Their strong financial position allows them to be opportunistic in evaluating additional R&D opportunities and pursuing potential strategic partnerships and collaborations.

Zymeworks’ collaboration agreements with Jazz Pharmaceuticals and BeiGene, Ltd represent important components of the commercialization strategy for zanidatamab. The company looks forward to providing further updates on their collaboration agreements and progress towards regulatory filings and approvals, new clinical studies, and future data releases in 2024. They also plan to submit INDs for several promising candidates and nominate the final ‘5 by 5’ product candidate for preclinical development in 2024.



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