NASDAQ$ZYME
Zymeworks Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Zymeworks reported a decrease in revenue and an increase in net loss for Q3 2024, while advancing its clinical pipeline and completing a share repurchase program.
Zymeworks reported a revenue of $16.0 million for the third quarter of 2024, a decrease from $16.5 million in the same period last year. The company's net loss for the quarter was $29.85 million, compared to $28.687 million in Q3 2023. Key highlights include the first patient dosed in a Phase 1 trial for ZW171, preclinical data presentations for ZW220 and ZW251, and the completion of an initial share repurchase program.
- First patient dosed in Phase 1 clinical trial evaluating ZW171 in advanced mesothelin (MSLN)-expressing cancers.
- Preclinical data presented on ZW220 and ZW251 at EORTC-NCI-AACR conference, with IND applications anticipated in 2025.
- Our partner Jazz Pharmaceuticals presented new and updated clinical data at ESMO 2024 on zanidatamab, highlighting its potential for multiple HER2-positive indications.
- The Company completed the initial $30 million of its Share Repurchase Program for 2,545,402 shares at an average price per share of $11.79 as of October 31, 2024.
Headline financials
Revenue & EPS history
Zymeworks · Revenue · Quarterly
$16M
Revenue by segment
Zymeworks · $48.7M total across 1 segment · Q2 2025
- Research and Development Collaborations$48.7M—100.0%
Forward guidance
Zymeworks expects its existing cash resources, combined with anticipated regulatory milestone payments, to fund planned operations into the second half of 2027. The company plans to host an R&D day in December 2024 to discuss its pipeline and future strategic expansions.
Tailwinds
- Projected cash runway into 2H 2027 with existing cash and anticipated regulatory milestone payments.
- Upcoming R&D day on December 12, 2024, to provide in-depth presentations on pipeline and strategic expansions.
- Anticipated IND submissions for ZW220 and ZW251 in 2025.
- Strategic expansion into new therapeutic areas including hematological cancers and autoimmune/inflammatory diseases.
- Continued progress of zanidatamab with partner Jazz Pharmaceuticals, including potential for first US approval in second-line biliary tract cancer.
Headwinds
- Potential for product candidates to fail in development or not receive required regulatory approvals.
- Risk of not achieving milestones or receiving additional payments under collaborations.
- Regulatory agencies may impose additional requirements or delay clinical trial initiation.
- Impact of new or changing laws and regulations on business.
- Clinical trials may not demonstrate safety and efficacy of product candidates.
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 Q3 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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