Zymeworks Inc. (ZYME) experienced a decrease of 13.63% in the premarket after the company announced a Pricing of $100.0 Million Public Offering. However, the last trading session closed at $9.32 with a decrease of 6.89%.
$100.0 Million Public Offering – Recent News
On 27 January 2022, ZYME announced the pricing of a $100 million public offering. Zymeworks will receive around $100.0 million in gross proceeds from the offering. This is the amount before eliminating underwriting discounts and charges, as well as other offering expenses. Moreover, ZYME has also given the underwriters a 30-day option to buy up to a maximum of 1,875,000 common shares just at the public offering price, after removing underwriting discounts and fees. Last but not the least, the offering will close on or around January 31, 2022.
Corporate Update on Key Strategic Priorities by ZYME
On 19th January 2022, ZYME presented a corporate update on its key strategic targets for 2022 and 2023, as well as verifying zanidatamab and ZW49 clinical development milestones. As a first step, ZYME has refocused the Company’s operations around the core functions and the most potential R&D prospects.
These steps, including workforce reduction, offer the potential to lower future budgeted expenditures. The team is excited to report on the progress against these key priorities in 2022 and 2023 as they refocus, focus, and build a leading biopharmaceutical company around a renewed organization. The team will also report on the broadening pipeline of therapeutic compounds with the possibility to make a substantial difference for patients with difficult-to-treat cancers around the world.
Corporate Update by ALX Oncology – More About it
ALX Oncology issued a business update highlighting major milestones expected in 2022 on 10th January 2022. At ASH, researchers presented preliminary Phase 1a clinical data for evorpacept in conjunction with azacitidine in MDS patients (ASPEN-02). Moreover, the Phase 1 dose-expansion portion of the trial is still accumulating data. Not only this but ALX Oncology has acquired privately owned ScalmiBio, providing it full access to a unique SHIELD platform for conditional activation of antibodies in the tumor microenvironment and patented cytotoxic payloads for antibody-drug conjugates.
