On Wednesday, Zymeworks Inc. ZYME launched fourth-quarter monetary outcomes. The corporate reported an earnings lack of 31 cents per share, lacking the consensus lack of 3 cents.
Gross sales got here at $31.03 million, lacking the consensus of $45.2 million.
In its fourth-quarter earnings outcomes, Zymeworks mentioned it’s growing its improvement efforts on plans for ZW251.
“Primarily based on our encouraging preclinical outcomes and the distinctive potential alternative to assist hepatocellular carcinoma sufferers, we now have determined to reprioritize sources for the development of ZW251, for which an IND submission is now deliberate for mid-2025,” Zymeworks mentioned in a press release.
“In consequence, we now have paused preparations for the graduation of Section 1 research of ZW220 right now. Nonetheless, we consider ZW220 stays a extremely differentiated, IND-ready ADC with encouraging preclinical information and robust business rationale with partnership potential. We look ahead to offering future updates on the event for ZW220,” the corporate added.
The corporate plans to provoke a Section 1 trial for ZW251 this yr.
“ZW251 supplies a brand new therapeutic modality choice focusing on GPC3 for hepatocellular carcinoma and represents an rising alternative in oncology that has but to be absolutely realized,” mentioned Zymeworks Chief Scientific Officer Paul Moore. “With a possible best-in-class design and differentiated mechanism, we consider our pipeline presents significant alternatives for each strategic partnerships and worth creation…”
In February, Zymeworks achieved a $14 million money analysis milestone related to a medical milestone from GSK Plc.
In November 2024, the FDA granted accelerated approval to Zymeworks and Jazz Prescription drugs Plc partnered Ziihera (zanidatamab) for adults with beforehand handled, unresectable, or metastatic HER2-positive (IHC 3+) biliary tract most cancers.
Ziihera was authorised beneath accelerated approval primarily based on a 52% goal response charge (ORR) and a median length of response of 14.9 months. Continued approval for this indication could also be contingent upon verification and outline of medical profit in a confirmatory trial.
Worth Motion: ZYME inventory is down 7.97% at $12.13 on the final verify Thursday.
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