Zymeworks appoints two new directors to strengthen board

VANCOUVER - Zymeworks Inc. (NASDAQ:ZYME) announced Monday the appointment of Greg Ciongoli and Robert E. Landry to its Board of Directors, effective August 10, 2025. Both executives will also serve on the company’s audit committee. The appointments come at a crucial time for the clinical-stage biotechnology company, which currently maintains a strong financial position with a market capitalization of $903.5 million and a healthy current ratio of 7.69, indicating robust liquidity. According to InvestingPro data, the company holds more cash than debt on its balance sheet, positioning it well for future growth initiatives.

Ciongoli is the Founder and Managing Partner of Adiumentum Capital Management and previously spent over 16 years at The Baupost Group as Partner, Public Group Investing. He currently serves on the board of Atara Biotherapeutics and has prior board experience with several pharmaceutical companies.

Landry brings more than 30 years of financial leadership experience, most recently serving as Chief Financial Officer and Executive Vice President, Finance at Regeneron Pharmaceuticals. He currently sits on the boards of GanD, Inc. and Cytokinetics, where he is a member of the audit committee.

"Greg and Bob bring extensive financial and strategic leadership expertise that will be invaluable to Zymeworks," said Kenneth Galbraith, Chair and Chief Executive Officer of Zymeworks, in a press release statement. The company’s stock, which has shown a 19% return over the past year, has attracted attention from analysts, with two recently revising their earnings estimates upward. InvestingPro analysis reveals additional insights about the company’s potential, with comprehensive research reports available for subscribers.

The appointments come as Zymeworks advances its development programs, including zanidatamab, which has received regulatory approvals in the U.S., Europe, and China for treating previously treated, unresectable or metastatic HER2-positive biliary tract cancer.

The company is anticipating topline data from its HERIZON-GEA-01 trial in the fourth quarter of 2025 and continues to progress its pipeline of wholly-owned product candidates.

Troy Cox, who served on the Zymeworks Board since 2019, has stepped down. Sue Mahony, Lead Independent Director, expressed gratitude for his six years of service.

Zymeworks is a clinical-stage biotechnology company focused on developing multifunctional biotherapeutics for conditions including cancer, inflammation, and autoimmune disease. While the company faces near-term profitability challenges with a -16.88% gross profit margin, its revenue growth remains strong at 96% year-over-year. InvestingPro subscribers can access detailed financial health metrics and additional ProTips to better understand the company’s investment potential.

In other recent news, Zymeworks Inc. reported a notable increase in revenue for the second quarter of 2025, reaching $48.7 million, up from $19.2 million in the same period last year. This substantial growth was attributed to key milestone payments and deferred revenue recognition. Additionally, Zymeworks announced a positive net income of $2.3 million, marking a significant improvement from a net loss of $37.7 million in the second quarter of 2024. These developments highlight the company’s financial turnaround over the past year. The earnings report reflects a positive shift in the company’s financial performance. Investors may find these recent developments noteworthy as they consider their investment strategies.

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