Zymeworks announces $279 million share sell-off
Canadian biotech firm Zymeworks (NYSE: ZYME) has announced the pricing of a public offering aimed at raising $279 million for the company.
Common shares are being offered at a price to the public of $46.50 in an exercise aimed at funding the global development of Zymeworks’ lead candidate, ZW25, as a single agent and in combination with other anti-cancer agents in a variety of HER2-expressing tumors, including gastroesophageal, biliary tract, breast and other underserved cancers.
The funds will also be used to accelerate and expand the clinical development of ZW49, the company’s second clinical candidate, and to advance pre-clinical programs in oncology and other therapeutic areas, including those involving non-HER2-expressing tumors.
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