Zymeworks Set to Join Russell 3000®, Russell 2000®, and Russell Microcap® Indexes
26 June 2023 - 10:30PM
Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology
company developing novel, multifunctional biotherapeutics, today
announced that it is set to join both the Russell 3000®, Russell
2000
®, and the Russell Microcap® Indexes at the
conclusion of the 2023 Russell indexes annual reconstitution,
effective after the U.S. market opens on June 26, 2023.
The annual reconstitution of the Russell indexes captures the
4,000 largest U.S. stocks as of April 28, 2023, ranking them by
total market capitalization. Membership in the Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“We are pleased to be added as a member of multiple Russell
indexes subsequent to our redomicile to Delaware approved by our
stockholders in 2022,” said Kenneth Galbraith, Chair and Chief
Executive Officer of Zymeworks.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets
are benchmarked against Russell’s U.S. indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
About Zymeworks Inc.
Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company
committed to the discovery, development, and commercialization of
novel, multifunctional biotherapeutics. Zymeworks' mission is to
make a meaningful difference for people impacted by
difficult-to-treat cancers and other serious diseases. Zymeworks'
complementary therapeutic platforms and fully integrated drug
development engine provide the flexibility and compatibility to
precisely engineer and develop highly differentiated antibody-based
therapeutic candidates. Zymeworks engineered and developed
zanidatamab, a HER2-targeted bispecific antibody using Zymeworks'
proprietary Azymetric™ technology. Zymeworks has entered into
separate agreements with BeiGene, Ltd. (BeiGene) and Jazz
Pharmaceuticals Ireland Limited (Jazz), granting each of
BeiGene and Jazz with exclusive rights to develop and commercialize
zanidatamab in different territories. Zanidatamab is currently
being evaluated in global Phase 1, Phase 2, and Phase 3 clinical
trials, including certain ongoing pivotal clinical trials as a
treatment for patients with HER2-expressing cancers. Zymeworks'
next clinical candidate, zanidatamab zovodotin (ZW49), is a
HER2-targeted bispecific antibody-drug conjugate (ADC) developed
using Zymeworks' proprietary Azymetric™ and ZymeLink™ Auristatin
technologies. Zanidatamab zovodotin is currently being evaluated in
a Phase 1 clinical trial for patients with a variety of
HER2-expressing, HER2-amplified or HER2-mutant cancers. Zymeworks
is also advancing a deep pipeline of product candidates based on
its experience and capabilities in both ADC and multispecific
antibodies (MSAT). In addition to Zymeworks' wholly owned pipeline,
its therapeutic platforms have been further leveraged through
strategic partnerships with global biopharmaceutical companies. For
information about Zymeworks, visit www.zymeworks.com and
follow @ZymeworksInc on Twitter.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes “forward-looking statements” or
information within the meaning of the applicable securities
legislation, including Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements in this press release
include, but are not limited to, statements that relate to the
anticipated inclusion in the Russell 3000, Russell 2000, and
Russell Microcap Indexes following the annual reconstitution, risks
and uncertainties relating to the anticipated trading of Zymeworks
securities as it relates to the FTSE Russell, and other information
that is not historical information. When used herein, words such as
“plan”, “believe”, “expect”, “may”, “continue”, “anticipate”,
“potential”, “will”, “progress”, and similar expressions are
intended to identify forward-looking statements. In addition, any
statements or information that refer to expectations, beliefs,
plans, projections, objectives, performance or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking. All forward-looking
statements are based upon Zymeworks’ current expectations and
various assumptions. Zymeworks believes there is a reasonable basis
for its expectations and beliefs, but they are inherently
uncertain. Zymeworks may not realize its expectations, and its
beliefs may not prove correct. Actual results could differ
materially from those described or implied by such forward-looking
statements as a result of various factors, including, without
limitation: risks relating to becoming included and remaining
included in the Russell 3000, Russell 2000, and Russell Microcap
Indexes; risks and uncertainties relating to the trading of our
securities as it relates to the FTSE Russell Indexes annual
reconstitution and the inclusion of Zymeworks on the Russell 3000,
Russell 2000, and Russell Microcap Indexes following such
reconstitution; clinical trials may not demonstrate safety and
efficacy of any of Zymeworks’ or its collaborators’ product
candidates; any of Zymeworks’ or its partners’ product candidates
may fail in development, may not receive required regulatory
approvals, or may be delayed to a point where they are not
commercially viable; regulatory agencies may impose additional
requirements or delay the initiation of clinical trials; the impact
of new or changing laws and regulations; market conditions; and the
other risks described under “Risk Factors” in Zymeworks’ Quarterly
Report on Form 10-Q for its quarter ended March 31, 2023 (a copy of
which may be obtained at www.sec.gov and www.sedar.com). Although
Zymeworks believes that such forward-looking statements are
reasonable, there can be no assurance they will prove to be
correct. Investors should not place undue reliance on
forward-looking statements. The above assumptions, risks and
uncertainties are not exhaustive. Forward-looking statements are
made as of the date hereof and, except as may be required by law,
Zymeworks undertakes no obligation to update, republish, or revise
any forward-looking statements to reflect new information, future
events or circumstances, or to reflect the occurrences of
unanticipated events.
Contacts:
Investor and Media Inquiries:
Diana PapoveDirector, Corporate Communications(604)
678-1388ir@zymeworks.com media@zymeworks.com
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