NASDAQ$ZYME
Zymeworks Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Zymeworks reported a decrease in revenue and an increase in net loss for the first quarter of 2024 compared to the same period in 2023, while maintaining a strong cash position.
Zymeworks reported a net loss of $31.7 million for the first quarter of 2024, an increase from $24.4 million in the same period last year. Revenue decreased to $10.0 million from $35.6 million in Q1 2023, primarily due to the transfer of responsibility for certain clinical trials to Jazz Pharmaceuticals. Despite the increased net loss, the company maintains a strong cash position of $420.5 million, projecting a cash runway into the second half of 2027.
- Reported $420.5 million in cash resources as of March 31, 2024, with a projected cash runway into 2H 2027.
- Completed rolling biologics license application (BLA) filing for zanidatamab as second-line treatment for biliary tract cancers (BTC) in the U.S. by partner Jazz Pharmaceuticals.
- Expected initiation of a Phase 3 clinical trial for zanidatamab in 2H 2024 for breast cancer patients who have progressed on trastuzumab deruxtecan (T-DXd).
- Presented five abstracts at the American Association for Cancer Research (AACR) annual meeting highlighting R&D pipeline.
Headline financials
Revenue & EPS history
Zymeworks · Revenue · Quarterly
$10M
Revenue by segment
Zymeworks · $48.7M total across 1 segment · Q2 2025
- Research and Development Collaborations$48.7M—100.0%
Forward guidance
Zymeworks anticipates its existing cash resources, combined with certain anticipated regulatory milestone payments, will fund planned operations into the second half of 2027. The company expects to initiate a Phase 3 clinical trial for zanidatamab in breast cancer in 2H 2024 and submit two IND/foreign equivalent submissions for ZW191 and ZW171 in 2024.
Tailwinds
- Projected cash runway into 2H 2027 with current cash resources and anticipated regulatory milestone payments.
- Expected initiation of a Phase 3 clinical trial for zanidatamab in 2H 2024 for breast cancer patients.
- Plans to submit two IND and foreign equivalent submissions for ZW191 and ZW171 in 2024 to commence Phase 1 clinical studies.
- Marketing authorization application (MAA) to the European Medicines Agency (EMA) for zanidatamab in BTC are proceeding.
- Continued presentation of preclinical data for early-stage pipeline throughout 2024.
Headwinds
- Any of Zymeworks' or its partners' product candidates may fail in development or not receive required regulatory approvals.
- Zymeworks may not achieve milestones or receive additional payments under its collaborations.
- Regulatory agencies may impose additional requirements or delay the initiation of clinical trials.
- Clinical trials may not demonstrate safety and efficacy of any product candidates.
- Inability to maintain or enter into new partnerships or strategic collaborations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q1 2024
-1.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+7.6%
Avg return
30 days after
38%
5 / 13 earnings
Positive
+1.4%
Q1 2023
Best reaction
-8.0%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -3.6% | -13.5% | -13.0% | |
| Q4 2025 | +0.1% | +3.4% | +11.4% | |
| Q3 2025 | -8.0% | +8.2% | +49.1% | |
| Q1 2025 | -0.1% | -0.6% | +11.3% | |
| Q4 2024 | -8.0% | -11.2% | -16.9% | |
| Q3 2024 | +1.0% | +1.2% | +11.7% | |
| Q2 2024 | +0.0% | +4.3% | +22.4% | |
| Q1 2024 | +0.0% | -8.3% | -18.4% | |
| Q4 2023 | +0.0% | +1.6% | +3.8% | |
| Q3 2023 | +1.2% | +0.1% | +31.2% | |
| Q3 2021 | +0.0% | -1.3% | +10.3% | |
| Q2 2023 | +0.8% | -3.6% | -7.5% | |
| Q1 2023 | +1.4% | +14.1% | +2.9% |
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