Item 2.02 Results of Operations and Financial Condition.
On January 4, 2023, Zymeworks Inc. (the “Company”) announced certain information relating to the Company’s financial condition as of December 31, 2022, including its preliminary and unaudited estimate of cash resources, which consist of cash, cash equivalents and marketable debt securities, of approximately $490 million, which excludes the expected zanidatamab-related reimbursements for R&D expenses in the fourth quarter of approximately $30 million. The Company also announced that it expects such cash resources to fund the Company’s current planned operations through at least the end of 2026 (such information, the “Financial Condition Information”). The Financial Condition Information is set forth in a press release issued by the Company on January 4, 2023 under the caption “Updated Financial Guidance”. The preliminary and unaudited estimate of cash resources is based on management’s initial analysis of operations for the quarter and year ended December 31, 2022 and is subject to further internal review and audit by the Company’s external auditors. A copy of this press release is attached hereto as Exhibit 99.1.
The press release is incorporated herein by reference, except for the Financial Condition Information, which information is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 3, 2023, the Company removed Dr. Neil Josephson from the position of Chief Medical Officer, effective immediately.
Item 8.01 Other Events.
On January 4, 2023, the Company issued a press release announcing a corporate update on its strategic priorities and other matters. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference, except for the Financial Condition Information, which information is furnished as described under Item 2.02 above.
Forward-Looking Statements
This Current Report on Form 8-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are identified by such words as “believe,” “expect,” “anticipate” and words of similar import and are based on current expectations that involve risks and uncertainties, such as the Company’s plans, objectives, expectations and intentions. All statements other than historical or current facts are forward-looking statements, including, without limitation, statements about the Company’s preliminary and unaudited estimate of cash resources, which consist of cash, cash equivalents and marketable debt securities, and the Company’s anticipated funding of its current operations and related expected timelines. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. These statements, like all statements in this report, speak only as of their date.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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