ZYME News & Events

Zymeworks announced that its board of directors has authorized a share repurchase program under which the company may repurchase up to $125M of its outstanding common stock. "The authorization of this 2026 share repurchase program reflects our continued focus on disciplined capital allocation and long-term value creation," said Kenneth Galbraith, chair and CEO of Zymeworks. "We believe this program provides an efficient mechanism to return capital to stockholders, while preserving the flexibility to further invest in our R&D pipeline and pursue strategic opportunities".

Reports Q1 revenue $2.4M, consensus $35.58M. The revenue decrease was driven mainly by the achievement of non-recurring clinical milestone payments in 2025, as well as continued declines in development support and drug supply revenue from Jazz . Revenue in the current-year period reflects ongoing collaboration activity and increased royalty revenue, which is expected to grow over time as commercial sales of Ziihera increase. As of March 31, the company had $403.8M of cash resources consisting of cash, cash equivalents and marketable securities, comprised of $244.3M in cash and cash equivalents and $159.6M in marketable securities. Based on current operating plans, and assuming full execution of the $125M share repurchase plan, the company expects its existing cash resources as of March 31, when combined with anticipated regulatory milestone payments of $440M related to the potential approvals of Ziihera in GEA in the U.S., Europe, Japan, and China, to fund its planned operations beyond 2028. This anticipated cash runway does not take into account any contribution from additional future milestone payments or royalties related to Ziihera, other current licensed product candidates or contributions from future partnerships and collaborations.

Zymeworks announced results from the dose-escalation part of the Phase 1 study for ZW191, a folate receptor alpha, or FRalpha,-targeting antibody-drug conjugate, or ADC, at the 2026 American Association for Cancer Research, or AACR, Annual Meeting. The data from Part 1 of the ongoing global Phase 1 study highlight a compelling combination of anti-tumor activity and manageable safety in patients with advanced, heavily pretreated solid tumors, including ovarian and endometrial cancers. Part 2a, the dose-optimization portion of the study evaluating patients with ovarian cancer at doses of 6.4 mg/kg and 9.6 mg/kg, has completed enrollment, with participants recruited globally across North America, Europe, and Asia-Pacific. The data from Part 2a will determine the recommended dose for any future registration studies. In platinum resistant ovarian cancer patients, ZW191 demonstrated a cORR of 56% across all dose levels, with tumor regression observed in 68% of patients and disease control achieved in 94%. Notably, ZW191 demonstrated compelling anti-tumor activity in the 6.4-9.6 mg/kg dose range regardless of FRalpha expression, with a cORR of 61% observed in ovarian and 57% in endometrial cancers, with disease control observed in 100% of patients. These findings highlight the potential for ZW191 to benefit a broad patient population, including those with low or heterogeneous target expression. In endometrial cancer, ZW191 showed a cORR of 40% across all dose levels and 57% in the 6.4-9.6 mg/kg cohort, with disease control rates of 80% and 86%, respectively. Responses were observed regardless of FRalpha expression levels, suggesting potential activity across a broad patient population. Across ovarian and endometrial cancer cohorts, responses were observed early, with a median time to response of 1.4 months. ZW191 was well tolerated and safely administered up to 11.2 mg/kg.