NASDAQ$ZYME
Zymeworks Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Zymeworks reported its fourth quarter and full year 2022 financial results, highlighting significant revenue growth and a shift to net income, driven by strategic collaborations and a strengthened financial position.
Zymeworks Inc. reported a substantial increase in revenue for the fourth quarter and full year 2022, primarily due to a significant licensing agreement with Jazz Pharmaceuticals. The company achieved net income for the year, a significant improvement from a net loss in the previous year, and ended 2022 with a strong cash position, extending its cash runway through 2026.
- Total revenue for the fourth quarter of 2022 was $402.493 million, a significant increase from $19.870 million in the same period last year.
- The company reported net income of $309.431 million for Q4 2022, a substantial improvement from a net loss of $39.152 million in Q4 2021.
- Basic EPS for Q4 2022 was $4.65, compared to -$0.76 in Q4 2021.
- Zymeworks ended 2022 with $492.232 million in cash, cash equivalents, and short-term investments, with an expected cash runway through 2026.
Headline financials
Revenue & EPS history
Zymeworks · Revenue · Quarterly
$402M
Forward guidance
Zymeworks expects to have cash resources to fund planned operations through at least the end of 2026, with a net operating cash burn for calendar year 2023 projected between $90 million and $120 million, including planned capital expenditures of approximately $15 million.
Tailwinds
- Expected cash runway through 2026, potentially beyond, due to improved financial position and reduced cash burn rate.
- Continued advancement of zanidatamab with multiple upcoming clinical catalysts, including pivotal study data in 2024.
- IND filings for new preclinical product candidates ZW171 and ZW191 on track for 2024.
- Anticipated additional milestone payments from existing licensing agreements in 2023 and 2024.
- Plans to host a conference call in April 2023 to discuss preclinical product candidates and zanidatamab zovodotin data.
Headwinds
- Research and development expenditures are expected to increase over time, subject to periodic fluctuations.
- Current challenging macroeconomic conditions may impact business operations.
- Potential for product candidates to fail in development or not receive required regulatory approvals.
- Regulatory agencies may impose additional requirements or delay clinical trial initiation.
- Inability to maintain or enter into new partnerships or strategic collaborations could impact future growth.
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 Q4 2023
-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 |
|---|---|---|---|---|
| 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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