Zymeworks Announces Share Repurchase Program Of Up To $60M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Zymeworks Inc. (NASDAQ:ZYME) has announced a Share Repurchase Program to buy back up to $60 million of its common stock. The initial repurchase of $30 million is expected to begin promptly and continue through the second half of 2024, with the remaining $30 million reserved for future repurchases.
August 01, 2024 | 9:18 pm
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Zymeworks Inc. has announced a Share Repurchase Program to buy back up to $60 million of its common stock. The initial repurchase of $30 million is expected to begin promptly and continue through the second half of 2024.
Share repurchase programs generally indicate that a company believes its stock is undervalued, which can be a positive signal to investors. The buyback can reduce the number of shares outstanding, potentially increasing the value of remaining shares and boosting the stock price in the short term.
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