Zymeworks (TSX:ZYME)(NYSE:ZYME) stock was down 1.58% in early afternoon trading on March 8. The stock shot up following the release of its year-end results on March 6. Shares are up 57% year over year.
The company reported that its lead product candidate, ZW25, continued to generate impressive clinical data into the end of the fiscal year.
Meanwhile, ZW49 recently began its phase 1 clinical trials. Zymeworks came into 2019 with $200 million on its balance sheet, so it is well-positioned to pursue aggressive expansion this year.
The progress on ZW25 and ZW49 carries huge potential, as does Zymeworks’ budding partnership with Eli Lilly. It advanced two Azymetric immune-oncology bispecifics into the clinic which trigger milestone payments to Zymeworks.
The company reported that it currently has eight active collaborations that could offer up to $7.6 billion in potential milestone payments plus royalties down the line.
Revenue was up marginally to $53 million in 2018 compared to $51.8 million in the prior year. Research and development expenses shot up to $56.7 million over $41.7 million in 2017, which illustrates Zymeworks’ accelerated efforts for its product candidates.
Zymeworks is expected to release data from ZW49 in May 2019, while progress on ZW25 trials will come in the latter half of 2019 through 2020. The company carries huge home run potential for investors that want to jump in today.
Even after its post-earnings bump shares are trading at the middle of its 52-week range.
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