Zymeworks reports 9M 2024 net loss $99.2M; cash $374.9M; completes $30M buyback; advances pipeline

Zymeworks Inc.

2024-Q3 EPS reported -$1.30 revenue$45,273,000

Net loss $99.2M for nine months ended Sep 30, 2024 vs $104.2M loss prior year; revenue $45.3M vs $59.1M.
Cash resources $374.9M (cash, equivalents, marketable securities) as of Sep 30, 2024; projected runway into 2H 2027 including milestones.
Completed initial $30M share repurchase: 2,545,402 shares at avg $11.79 as of Oct 31, 2024.
First patient dosed in Phase 1 trial of ZW171 for MSLN-expressing cancers; preclinical data presented for ZW220 and ZW251.
Director Hollings C. Renton resigns from board effective Dec 10, 2024; not due to disagreement.

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