ZYMEWORKS INC Reports Q2 FY2023 Earnings Results on June 30th 2023
August 17, 2023
🌥️Earnings Overview
On June 30, 2023, ZYMEWORKS INC ($NASDAQ:ZYME) reported their second quarter FY2023 earnings results with a total revenue of USD 7.0 million, a 28.7% increase from the same period in FY2022. Net income, however, was reported to be USD -51.2 million, which is lower than the -64.6 million reported during the same period in FY2022.
Market Price
The company’s stock opened at $7.7 and closed at $7.8, up by 0.8% from last closing price of 7.7. Overall, the company reported solid financial results for the quarter and their stock price reacted positively to the news. Investors appear to have confidence in the company’s ability to continue to generate profits and create shareholder value in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Zymeworks Inc. More…
| Total Revenues | Net Income | Net Margin |
| 447.7 | 185.85 | 41.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Zymeworks Inc. More…
| Operations | Investing | Financing |
| 164.75 | -251.39 | 29.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Zymeworks Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 602.05 | 153.13 | 6.63 |
Key Ratios Snapshot
Some of the financial key ratios for Zymeworks Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 145.2% | – | 41.9% |
| FCF Margin | ROE | ROA |
| 35.5% | 25.4% | 19.5% |
Analysis
At GoodWhale, we strive to provide the best financial insights on investments to our customers. We provide a holistic approach to analyzing the financials of a company and its associated risks. We recently had the opportunity to analyze ZYMEWORKS INC and the results have been interesting. GoodWhale Risk Rating has given ZYMEWORKS INC a high risk rating, which is an indication of potential financial and business risks associated with investing in this company. Our analysis revealed that there were four risk warnings in the income sheet, balance sheet, cashflow statement, and financial journal associated with ZYMEWORKS INC. So if you are considering investing in ZYMEWORKS INC and would like to make an informed decision, we suggest you visit goodwhale.com and register for access to more detailed information about the company’s financials and risk ratings. More…
Peers
It is one of several innovative companies in the space, including Alaunos Therapeutics Inc, BerGenBio ASA, and Vaxil Bio Ltd, that are on the cutting edge of medical research. Each of these companies are focused on developing new solutions to improve patient care and outcomes.
– Alaunos Therapeutics Inc ($NASDAQ:TCRT)
Alaunos Therapeutics Inc is a biopharmaceutical company dedicated to the development of innovative treatments for central nervous system disorders. The company has a market cap of 122.82M as of 2023 and a Return on Equity of -61.16%. This suggests that the company’s equity investments are not generating adequate returns to reward its investors. Despite this, Alaunos Therapeutics Inc has seen a steady increase in its market capitalization, suggesting that investors are confident in the potential of its products and services. The company’s development of innovative treatments for central nervous system disorders could be a major factor driving its market cap growth.
– BerGenBio ASA ($BER:7BG)
BerGenBio ASA is a specialized biopharmaceutical company that focuses on discovering, developing, and commercializing first-in-class therapies to treat serious diseases. The company’s market cap as of 2023 is 46.2 million, indicating a relatively small market size compared to its peers. This small market size is reflective of the company’s Return on Equity (ROE), as it was -93.4% in 2023. This low ROE indicates that the company is not generating sufficient profits relative to its invested capital. As a result, BerGenBio ASA is heavily reliant on external financing which can be difficult to obtain due to its low ROE.
– Vaxil Bio Ltd ($TSXV:VXL)
Vaxil Bio Ltd is a biotechnology company that focuses on the development and commercialization of novel immunotherapy treatments for cancer and infectious diseases. With a market capitalization of 2.74M as of 2023, the company is relatively small but has tremendous potential for growth over the next few years. The company also has a negative return on equity of -31.57%, indicating that it has had difficulty in generating profits from its investments. Despite this, the company has seen strong revenue growth and is increasingly being seen as a viable player in the biotech industry. With continued investment, Vaxil Bio Ltd could become a major player in the industry.
Summary
ZYMEWORKS INC reported total revenue of USD 7.0 million for the second quarter of FY2023, representing a 28.7% increase from the same period in the previous year. Net income for the quarter was USD -51.2 million, a decrease from the -64.6 million reported in the same period of the previous year. Investors should carefully analyze this report as it provides an indication of both the current financial health of the company and its potential future performance. It is important to consider both short-term and long-term trends before investing in ZYMEWORKS.
Additionally, investors should evaluate the company’s competitive landscape and management team in order to make an informed decision.
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