Zymeworks appoints Adam Schayowitz as acting chief development officer

VANCOUVER - Zymeworks Inc. (NASDAQ:ZYME), a clinical-stage biotechnology company with a market capitalization of $1.25 billion and impressive 67% stock price gain over the past six months, has appointed Adam Schayowitz, Ph.D., MBA as Acting Chief Development Officer, the company announced Thursday. According to InvestingPro data, Zymeworks is currently trading near its 52-week high, reflecting strong investor confidence in the company’s direction.

Dr. Schayowitz will report directly to Chair and CEO Kenneth Galbraith while maintaining his role as an Operating Partner at EcoR1 Capital, LLC. In his new part-time position, he will work with Zymeworks’ R&D and Business Development teams to advance the company’s product candidates and support partnership strategies.

"Adam joins Zymeworks at a pivotal moment, as we continue to advance a range of therapeutic candidates in areas of high unmet need," said Galbraith in the press release.

Schayowitz brings nearly 20 years of oncology drug development experience to the role. He previously served as a Vice President at Pfizer Oncology, led the development of Zejula at Tesaro, and supported commercialization of Xofigo at Algeta. He currently serves as a Board Member at Terremoto Biosciences and as a Board Observer for Aktis Oncology.

Zymeworks is advancing several candidates in its pipeline, including ZW191, which is in Phase 1 trials, and ZW251, expected to enter clinical trials in 2025. The company’s lead product, zanidatamab, has received accelerated approval from the U.S. FDA, conditional approval from China’s NMPA, and conditional marketing authorization from the European Commission for treating previously treated, unresectable or metastatic HER2-positive biliary tract cancer.

Zanidatamab, a HER2-targeted bispecific antibody developed using Zymeworks’ Azymetric technology, is being evaluated in multiple global clinical trials for various HER2-expressing cancers. The company has licensing agreements with BeOne Medicines Ltd. and Jazz Pharmaceuticals for the drug’s commercialization in different territories. With nearly 96% year-over-year revenue growth and several key partnerships in place, Zymeworks shows promising commercial potential despite current profitability challenges. For deeper insights into Zymeworks’ financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive ProTips and detailed financial metrics for informed decision-making.

In other recent news, Zymeworks Inc. reported a substantial increase in revenue for the second quarter of 2025, reaching $48.7 million compared to $19.2 million in the same period last year. This growth was attributed to key milestone payments and deferred revenue recognition. The company also announced a positive net income of $2.3 million, marking a significant turnaround from a net loss of $37.7 million in Q2 2024. Additionally, Zymeworks made the decision to discontinue the clinical development of ZW171, a T cell engager aimed at treating various cancers, after determining that further dose evaluation would not support the desired benefit-risk profile. In efforts to strengthen its leadership, Zymeworks appointed Greg Ciongoli and Robert E. Landry to its Board of Directors, effective August 10, 2025. Both new directors will also serve on the company’s audit committee. These developments reflect the company’s strategic adjustments and financial progress.

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