Zymeworks (TSX:ZYME)(NYSE:ZYME) stock fell 3.01% on December 20. Shares are still up 60.8% in 2018 so far. Zymeworks is a clinical-stage biopharmaceutical company, but its growth prospects are extremely promising. Investors on the hunt for a growth stock to add for 2019 should consider Zymeworks one of the top options.
Zymeworks’ flagship product; ZW25, has progressed into late-stage studies in 2018. It has also progressed with ZW49 into clinical-stage trials. In late November Zymeworks announced a pact with BeiGene (NASDAQ:BGNE).
BeiGene acquired exclusive development and commercial rights to Zymeworks’ product candidates; ZW25 and ZW49, in Asia, Australia, and New Zealand. Zymeworks received up front payments of $40 million for the ZW25 and ZW49 agreements and $20 million under a separate platform agreement.
Glancing at its technicals, Zymeworks looks like an enticing add in the final days of December. As of close on December 20 it boasted an RSI of 37 which is outside of oversold territory. Multiple analysts have jumped on board to issue a "buy" rating in recent weeks which speaks to the excitement around its earning potential going forward.
It is important to remember that Zymeworks is still in an early stage, but progress has been steady and encouraging. The company has the potential to rival multi-billion-dollar firms in the breast cancer therapeutics sector if ZW25 continues to progress. The stock is an attractive speculative buy priced at $15.30 as of close on December 20.
