Zymeworks Inc. reported its financial results for the first quarter ended March 31, 2025, on May 8, 2025. The company announced total revenue of $27.1 million, marking a substantial 170% increase compared to $10.0 million in the same period of 2024. The net loss for the quarter decreased to $22.6 million from $31.7 million in Q1 2024.
The strong revenue performance was driven by several key events, including $14.0 million in milestone revenue from GSK, received in April 2025, and $3.1 million in milestone revenue from Daiichi Sankyo, recognized and received in March 2025. Additionally, Zymeworks recognized $9.6 million for development support and drug supply revenue, along with $0.2 million in royalty income from Jazz Pharmaceuticals.
Further positive news included Jazz Pharmaceuticals' announcement in April 2025 that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending the approval of zanidatamab for advanced HER2-positive biliary tract cancer. As of March 31, 2025, Zymeworks maintained $321.6 million in cash resources, projecting a cash runway into the second half of 2027.
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