Zymeworks updates cash guidance to ~$490M; CMO Josephson removed; new early-stage development head appointed

Zymeworks Inc.

Preliminary unaudited cash (cash, equivalents, marketable debt) ~$490M as of Dec 31, 2022, plus ~$30M expected Q4 zanidatamab reimbursement from Jazz.
Cash runway extended to at least end of 2026; net operating cash burn guided at $90-120M for 2023 including ~$15M capex.
Dr. Neil Josephson removed as Chief Medical Officer effective Jan 3, 2023; Dr. Jeffrey Smith appointed SVP Early-Stage Development.
Zanidatamab full HERIZON-BTC-01 data expected H1 2023; zanidatamab zovodotin RP2D set at 2.5 mg/kg Q3W with expansion into breast cancer cohorts.
Promotions: Mark Hollywood to EVP Technical & Manufacturing; Daniel Dex to General Counsel & Corporate Secretary.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Dr. Neil Josephson

Chief Medical Officer

ZYME · Zymeworks Inc.

Effective: 2023-01-03
Filed: January 4, 2023, 6:59 PM ET

On January 3, 2023, the Company removed Dr. Neil Josephson from the position of Chief Medical Officer, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Zymeworks Inc. updated its the quarter and year ended December 31, 2022 guidance (initiated).

Period: the quarter and year ended December 31, 2022
Guidance: initiated
Result: preliminary results

Exact text from the filing

On January 4, 2023, Zymeworks Inc. (the “Company”) announced certain information relating to the Company’s financial condition as of December 31, 2022, including its preliminary and unaudited estimate of cash resources, which consist of cash, cash equivalents and marketable debt securities, of approximately $490 million, which excludes the expected zanidatamab-related reimbursements for R&D expenses in the fourth quarter of approximately $30 million. The Company also announced that it expects such cash resources to fund the Company’s current planned operations through at least the end of 2026 (such information, the “Financial Condition Information”).

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Neil Josephson was removed as Chief Medical Officer at Zymeworks Inc..

Action: removed
Role: Chief Medical Officer

Exact text from the filing

On January 3, 2023, the Company removed Dr. Neil Josephson from the position of Chief Medical Officer, effective immediately.

View on SEC.gov

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Zymeworks Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-001510

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