Zymeworks Inc. Morgan Stanley 24th Annual Global Healthcare Conference

Hello, everyone. My name is Frank Tang, and I'm with the investment banking division at Morgan Stanley. Thank you all for joining us for the fireside chat with Zymeworks. I'm joined here today by the Chairman and CEO, Ken Galbraith. Ken, welcome back. A lot has evolved since last year since we were here. It'd be great if you could provide an update on where Zymeworks stands today, and give us an overview of your broad model across licensed royalty assets, Zani, the wholly-owned TCEs, your ADC platform, and now the Theravance acquisition.

No, it's a great thing, and again, great to be back here again.

Absolutely This year with you.

Back to school, back to work.

Yeah. Seems like it's a long week already, but.

Absolutely really happy to be here and have a chance to update you on Zymeworks.

For 2026, we've had an amazing year already as a company, and it's not finished yet. But obviously with the recent FDA approval of zanidatamab in first-line GA patients and HER2 overexpressing GA patients we've made this amazing journey from discovering this molecule inside our company 11 years ago with a great protein engineer who came up with this idea of creating this bispecific antibody that would really create a brand new class of agent to be able to use in the HER2 class.

Over this past 11 years, we've traveled that journey of trying to move that into clinical studies and move that closer to commercialization, in this case, with our partners, Jazz and BeiGene, in different territories.

Yeah. We've found ourselves in this position of getting an FDA approval at the end of the day in the place where every biotech wants to be.

We've changed the standard of care after 12 years of an amazing molecule, Herceptin and be able to make an advancement for patients.

Whenever you're in a situation where you can move the median OS 6 months or more for a patient population overall, in this case it was 7 months.

Yeah You just realize the fundamental change you're going to make in people's lives in a large group of patients on a global basis.

It's the reason that we do this in this business. Having that really just recharged us to think again about how do we build a company with that behind us. In front of us, how do we do that again? How do we do that maybe in different ways when we think about success?

Yeah. What else comes with that is obviously there's a tremendous financial return that comes to the company from being the innovator and developer of that agent.