Zymeworks raises $50M via pre-funded warrants; cash runway into H2 2027

Zymeworks Inc.

Gross proceeds of ~$50M from sale of 5,086,521 pre-funded warrants at $9.8299 each.
Each warrant exercisable at $0.0001/share, with 19.99% beneficial ownership limitation.
EcoR1 Capital receives board nomination right for one partner until Jan 1, 2026.
Proceeds to extend cash runway into H2 2027, fund R&D and general corporate purposes.
Closing expected Dec 28, 2023, subject to customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zymeworks Inc. entered into Securities Purchase Agreement with certain institutional accredited investors affiliated with EcoR1 Capital, LLC valued at approximately $50 million (effective 2023-12-23).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional accredited investors affiliated with EcoR1 Capital, LLC
Value: approximately $50 million
Effective: 2023-12-23

Exact text from the filing

On December 23, 2023, Zymeworks Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) for a private placement (the “Private Placement”) with certain institutional accredited investors affiliated with EcoR1 Capital, LLC (collectively, the “Purchasers”).

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25 material agreements filed in the last 30 days. Browse all material agreements →

Zymeworks Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-302488

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