Zymeworks (NYSE:ZYME) is a Vancouver-based clinical-stage biopharmaceutical company. Its main product candidate, ZW25, has moved forward to phase 2 of clinical trials. Though it is still early, the product has massive potential in the breast cancer biotherapeutics market. A recent forecast from Fortune Business Insights projects that the global breast cancer therapeutics market will exhibit a CAGR of 10.2% from 2018 through 2026.
The company released its third-quarter 2019 results on November 5.
Revenue rose to $7.9 million in Q3 2019 compared to $2.1 million in the prior year. Research and development expenses ballooned to $29.3 million over $14.2 million in Q3 2018. This was primarily due to an increase in clinical trial activity and manufacturing costs for ZW25. Investors can expect to see its fourth quarter and full-year results for 2019 in early March.
Its other product candidate, ZW49, is in phase 1 clinical trails and has shown significant promise. Zymeworks is expected to give updates on both of its product candidates at the JP Morgan Conference and ASCO.
There is reason for excitement ahead of these presentations. Zymeworks is positioned to meet demand for treatments beyond toxic chemotherapy across cancer types.
Shares of Zymeworks have climbed a whopping 196% year-over-year as of late afternoon trading on January 10. The stock is up 77% over the past three months. It is pricey right now, but it is also one of the most promising stocks in an explosive growth sector.
