Zymeworks Inc. announced that it has entered into a securities purchase agreement with to issue 5,086,521 pre-funded warrants at a price of $9.8299 for the gross proceeds of $49,999,992.7779 on December 23, 2023. The transaction will include participation from new institutional investors investors, Ecor1 Capital Fund Qualified, L.P. and EcoR1 Capital Fund, L.P.; both funds managed by EcoR1 Capital, LLC. Ecor1 Capital Fund Qualified, L.P. will subscribe for $$47,364,999.62 and EcoR1 Capital Fund, L.P. will subscribe for $$2,634,993.17.

The warrants will be exercisable into 5,086,521 shares of common stock at an exercise price of $0.0001. The company expects to close the transaction on or before December 28, 2023, subject to the satisfaction of customary closing conditions. The company has received 49,999,993 pursuant to Regulation D and included participation from 2 investors.