Health/Life Sciences

Zymeworks goals to lift $100M in public providing amid management shakeup

Zymeworks is trying to increase $100 million in a public providing, barely every week since new CEO Kenneth Galbraith took the reins of the biotech firm, which has operations in Seattle and Vancouver, B.C. Final week, Galbraith introduced workforce cuts and modifications in management as the corporate focuses on a part 3 trial for one in every of its anti-cancer brokers and early scientific testing of one other. The corporate priced shares yesterday at round $8, far beneath the excessive of greater than $50 in January 2021. Zymeworks reported $250 million in money, money equivalents and short-term investments on the finish of 2021. Shares have been down greater than 10% Thursday.

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