Zymeworks removes warrant cap; EcoR1 exercises for 5.1M shares, diluting by ~7%

Zymeworks Inc.

Removed 19.99% beneficial ownership cap on pre-funded warrants held by EcoR1 Capital.
EcoR1 net exercised warrants for 5,086,480 shares of common stock at $0.0001 per share on June 26, 2025.
Outstanding shares increased to 74,844,505 from ~69.8M, representing ~7% dilution.
Warrants originally issued Dec 2023 at $9.83 each for $50M; exercise provides no new cash.
Oleg Nodelman and Scott Platshon, both board members, represent EcoR1.

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