Zymeworks Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, on March 5, 2025. For Q4 2024, the company reported an earnings loss of $0.31 per share, missing the consensus loss of $0.03 per share. Sales for the quarter came in at $31.03 million, also missing the consensus estimate of $45.2 million.
For the full year 2024, revenue was $76.3 million, a slight increase from $76.0 million in 2023, while the net loss increased to $122.7 million from $118.7 million in 2023. As of December 31, 2024, Zymeworks had $324.2 million in cash resources, with a projected cash runway into the second half of 2027, assuming receipt of certain anticipated regulatory milestones.
In a strategic move, Zymeworks announced the acceleration of the Investigational New Drug (IND) submission for ZW251, an antibody-drug conjugate targeting GPC3, to mid-2025. Consequently, preparations for the commencement of Phase 1 studies for ZW220 have been paused, though ZW220 remains an IND-ready asset with partnership potential. The company also noted $1.1 million in Ziihera net product sales by Jazz Pharmaceuticals in 2024 following its November FDA approval, and the achievement of a $14 million clinical milestone from GSK in January 2025.
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