Zymeworks Added to Nasdaq Biotechnology Index
December 15 2023 - 8:30AM
Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology
company developing novel, multifunctional biotherapeutics, today
announced it is expected to be added to the Nasdaq Biotechnology
Index (Nasdaq: NBI) (the “NBI”). Zymeworks’ addition to the NBI
will become effective prior to the market open on Monday, December
18, 2023.
The NBI is designed to track the performance of a set of
securities listed on The Nasdaq Stock Market that are issued by
companies classified as either biotechnology or pharmaceutical
companies according to the Industry Classification Benchmark.
Companies in the NBI must meet certain eligibility requirements,
including, but not limited to, minimum market capitalization,
average daily trading volume, and seasoning as a public company.
The NBI is evaluated annually in December and is calculated under a
modified capitalization-weighted methodology. The NBI is currently
comprised of approximately 250 companies. For more information
about the NBI, visit:
https://indexes.nasdaqomx.com/Index/Overview/NBI
About Zymeworks Inc.
Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company
committed to the discovery, development, and commercialization of
novel, multifunctional biotherapeutics. Zymeworks' mission is to
make a meaningful difference for people impacted by
difficult-to-treat cancers and other serious diseases. Zymeworks'
complementary therapeutic platforms and fully integrated drug
development engine provide the flexibility and compatibility to
precisely engineer and develop highly differentiated antibody-based
therapeutic candidates. Zymeworks engineered and developed
zanidatamab, a HER2-targeted bispecific antibody using Zymeworks'
proprietary Azymetric™ technology. Zymeworks has entered into
separate agreements with BeiGene, Ltd. (BeiGene) and Jazz
Pharmaceuticals Ireland Limited (Jazz), granting each of
BeiGene and Jazz with exclusive rights to develop and commercialize
zanidatamab in different territories. Zanidatamab is currently
being evaluated in global Phase 1, Phase 2, and Phase 3 clinical
trials, including certain ongoing pivotal clinical trials as a
treatment for patients with HER2-expressing cancers. Zymeworks'
next clinical candidate, zanidatamab zovodotin (ZW49), is a
HER2-targeted bispecific antibody-drug conjugate (ADC) developed
using Zymeworks' proprietary Azymetric™ and ZymeLink™ Auristatin
technologies. Zanidatamab zovodotin is currently being evaluated in
a Phase 1 clinical trial for patients with a variety of
HER2-expressing, HER2-amplified or HER2-mutant cancers. Zymeworks
is also advancing a deep pipeline of product candidates based on
its experience and capabilities in both ADC and multispecific
antibodies (MSAT). In addition to Zymeworks' wholly owned pipeline,
its therapeutic platforms have been further leveraged through
strategic partnerships with global biopharmaceutical companies. For
information about Zymeworks, visit www.zymeworks.com and
follow @ZymeworksInc on X.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes “forward-looking statements” or
information within the meaning of the applicable securities
legislation, including Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements in this press release
include, but are not limited to, statements that relate to the
anticipated inclusion in the Nasdaq Biotechnology Index following
the annual reconstitution, risks and uncertainties relating to the
anticipated trading of Zymeworks securities, and other information
that is not historical information. When used herein, words such as
“plan”, “believe”, “expect”, “may”, “continue”, “anticipate”,
“potential”, “will”, “progress”, and similar expressions are
intended to identify forward-looking statements. In addition, any
statements or information that refer to expectations, beliefs,
plans, projections, objectives, performance or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking. All forward-looking
statements are based upon Zymeworks’ current expectations and
various assumptions. Zymeworks believes there is a reasonable basis
for its expectations and beliefs, but they are inherently
uncertain. Zymeworks may not realize its expectations, and its
beliefs may not prove correct. Actual results could differ
materially from those described or implied by such forward-looking
statements as a result of various factors, including, without
limitation: risks relating to becoming included and remaining
included in the Nasdaq Biotechnology Index; risks and uncertainties
relating to the trading of our securities as it relates to the
Nasdaq Biotechnology Index annual reconstitution and the inclusion
of Zymeworks on the Nasdaq Biotechnology Index following such
reconstitution; clinical trials may not demonstrate safety and
efficacy of any of Zymeworks’ or its collaborators’ product
candidates; any of Zymeworks’ or its partners’ product candidates
may fail in development, may not receive required regulatory
approvals, or may be delayed to a point where they are not
commercially viable; Zymeworks may not achieve milestones or
receive additional payments under its collaborations; the impact of
pandemics and other health crises on Zymeworks’ business, research
and clinical development plans and timelines and results of
operations, including impact on its clinical trial sites,
collaborators, and contractors who act for or on Zymeworks’ behalf;
inability to maintain or enter into new partnerships or strategic
collaborations; regulatory agencies may impose additional
requirements or delay the initiation of clinical trials; the impact
of new or changing laws and regulations; market conditions; and the
other risks described under “Risk Factors” in Zymeworks’ Quarterly
Report on Form 10-Q for its quarter ended September 30, 2023 (a
copy of which may be obtained at www.sec.gov and www.sedar.com).
Although Zymeworks believes that such forward-looking statements
are reasonable, there can be no assurance they will prove to be
correct. Investors should not place undue reliance on
forward-looking statements. The above assumptions, risks and
uncertainties are not exhaustive. Forward-looking statements are
made as of the date hereof and, except as may be required by law,
Zymeworks undertakes no obligation to update, republish, or revise
any forward-looking statements to reflect new information, future
events or circumstances, or to reflect the occurrences of
unanticipated events.
Contacts:
Investor Inquiries:
Shrinal InamdarDirector, Investor Relations(604)
678-1388ir@zymeworks.com
Media Inquiries:
Diana PapoveDirector, Corporate Communications(604)
678-1388media@zymeworks.com
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