Zymeworks (TSX:ZYME)(NYSE:ZYME) stock has surged 113% in 2018 as of close on September 25. Shares are up 98% year over year. The company has built a great deal of enthusiasm on the back of its flagship drug ZW25.
ZW25 is Zymeworks’ lead product candidate and is currently being evaluated in Phase 1 clinical trials. It has made impressive progress so far. The company is also moving forward with a pipeline of preclinical product candidates.
The breast cancer therapeutics market is expected to post compound annual growth (CAGR) of 10% into 2022. This market is largest in the United States, where Zymeworks aims to establish a footprint with its leading products.
Zymeworks released its second-quarter results on August 1. Revenue climbed to $22 million compared to $1.3 million in the prior year. This was mostly due to an $18 million upfront technology access fee and a $4 million program expansion fee from Celgene.
Zymeworks ultimately reported a net loss of $5.9 million compared to $11 million in Q2 2017.
Zymeworks is slated to present at the upcoming Ladenburg Thalmann 2018 Healthcare Conference that will take place on October 1 and 2 in New York.
ZW25 carries a ton of potential for Zymeworks going forward, and the stock is still a nice hold for investors on the hunt for growth in this sector. Shares have slipped from all-time highs set in the late spring and there are still solid entry points for those looking to jump in this fall.
