Zymeworks Q1 net loss down 66% to $24.4M; revenue surges to $35.6M on Jazz deal; cash runway through 2026

Zymeworks Inc.

2023-Q1 EPS reported -$0.37 revenue$35,578,000

Net loss $24.4M vs $72.6M in Q1 2022 (-66%); revenue $35.6M vs $1.9M, driven by Jazz collaboration.
Cash & securities $412.4M; reaffirms 2023 net operating cash burn guidance $90-120M and cash runway through at least 2026.
R&D expense decreased $16.6M to lower levels; Non-GAAP R&D down $14.7M.
Will present pivotal Phase 2b zanidatamab data at ASCO (oral presentation); ZW191/ZW171 on track for IND filings in 2024.
Board strengthened with appointment of Derek Miller, adding business development and commercial expertise.

item 2.02 item 9.01

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. reported first quarter ended March 31, 2023 results: net income $24.4 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Net income: $24.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing novel multifunctional biotherapeutics , today reported financial results for the first quarter ended March 31, 2023 and provided a summary of recent business highlights.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Zymeworks Inc. filing history →

Source: SEC EDGAR

accession 0001937653-23-000020

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