Zymeworks Inc. (ZYME) stock plunged 5.46% in the after-hours trading session on Wednesday after reporting a wider-than-expected loss and lower-than-anticipated revenue for the fourth quarter.
The biopharmaceutical company reported a net loss of $0.31 per diluted share for the quarter, significantly missing analysts' expectations of a $0.03 loss. The company's revenue also fell short, coming in at $31 million compared to the estimated $45.2 million.
The disappointing results likely contributed to the sharp decline in Zymeworks' stock price in the after-hours market, as investors reacted negatively to the company's performance. The broader market outlook and future growth prospects may also have played a role in the sell-off.
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