Strong momentum continues in ZYMEWORKS INC

After a initial drop on the news of the $175million offering the stock did drop but has since rebounded and extended the gains and the momentum looks to continues with $25 as a reasonable short term target.
Proceeds of the offering will go toward expanding development of ZW25 (as a single agent and in combination), expanding developing of ZW49 through an ongoing Phase 1 clinical trial and follow-on studies, for other novel preclinical programs and for general purposes.


AVERAGE ANALYSTS PRICE TARGET $28.47
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT

COMPANY PROFILE
Zymeworks, Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of biotherapeutics. Its product, ZW25 and ZW49 are a bispecific antibody that cans two non-overlapping epitopes. The company was founded by Anthony Fejes, J. Haig deB Farris, Nick Bedford, Ali Tehrani, and Andrew S. Wright on September 8, 2003 and is headquartered in Vancouver, Canada.