Zymeworks Announces Share Repurchase Program Of Up To $60M Of Common Stock

Author: Benzinga Newsdesk | August 01, 2024 05:18pm

Zymeworks Inc. (NASDAQ:ZYME) (the "Company"), a clinical-stage biotechnology company developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat diseases, today announced that its Board of Directors has authorized a Share Repurchase Program under which the Company may repurchase up to $60.0 million of the Company's outstanding common stock, par value $0.00001 per share. Zymeworks intends to commence the Share Repurchase Program with $30.0 million in initial repurchases anticipated to begin promptly and continue during the second half of 2024, demonstrating the Company's near-term commitment to returning capital to stockholders. Zymeworks intends to reserve the remaining $30.0 million for future repurchases, ensuring flexibility to adapt to market conditions and growth opportunities.

Posted In: ZYME