Zymeworks adds a clas­sic poi­son pill de­fense to the ar­mory as the biotech's board bat­tles hos­tile takeover

Zymeworks $ZYME is pulling out all the stops as it looks to wrig­gle out of a hos­tile takeover ef­fort.

A few days ago, Zymeworks CEO Ken­neth Gal­braith told End­points News at AS­CO that he was shop­ping for a ma­jor league part­ner to help car­ry their lead drug — zanidatam­ab — in­to the mar­ket, look­ing to bright­en per­cep­tions of its prospects af­ter its share price was mauled and a dis­count buy­er named All Blue Cap­i­tal came call­ing. And at the end of the week, the board adopt­ed a poi­son pill de­fense aimed at sick­en­ing All Blue’s takeover at­tempt at a mod­est price of­fer­ing.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER