Zymeworks Inc. ZYME
Zymeworks is a global biotechnology company managing a portfolio of licensed healthcare assets and developing a diverse pipeline of novel, multifunctional biotherapeutics to improve the standard of care for difficult-to-treat conditions, including cancer, inflammation, and autoimmune disease. We believe our asset and royalty aggregation strategy differentiates us from other biotechnology companies because it provides us with an opportunity to optimize future milestone and royalty cash flows and selectively invest in high-quality assets while retaining the flexibility to return capital to stockholders.
Our strategy is focused on compounding long-term stockholder value through a combination of royalty growth, strategic acquisitions, and internal innovation, supported by disciplined capital allocation and a strengthened financial foundation through expected milestone payments and royalties from existing commercial partners. We pursue this strategy by discovering or acquiring and developing a diversified portfolio of preclinical or clinical healthcare assets while also evaluating strategic partnership opportunities to transfer certain costs and risks related to clinical development and/or commercialization to our strategic partners and secure the right to receive potential future royalty and milestone revenues. The following elements collectively support the execution of our strategy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $106.0M | $76.3M | $76.0M | $412.5M | $26.7M | $39.0M | — |
| R&D | — | — | $143.6M | $208.6M | $199.8M | $171.2M | — |
| SG&A | $61.5M | $61.5M | $70.4M | $73.4M | $42.6M | $55.2M | — |
| Total operating expenses | $198.5M | $213.4M | $214.1M | $282.0M | $242.3M | $226.4M | — |
| Operating income | -$92.5M | -$137.1M | -$138.1M | $130.5M | -$215.6M | -$187.5M | — |
| Pre-tax income | -$79.8M | -$116.6M | -$119.2M | $135.2M | -$212.4M | -$180.1M | — |
| Income tax | $1.4M | $6.1M | $568.0K | $10.9M | $516.0K | $429.0K | — |
| Net income | -$81.1M | -$122.7M | -$118.7M | $124.3M | -$211.8M | -$180.6M | — |
| EPS, basic | -1.08 | -1.62 | -1.72 | 1.91 | -4.11 | -3.58 | — |
| EPS, diluted | -1.08 | -1.62 | -1.72 | 1.90 | -4.61 | -3.58 | — |
| Shares, diluted (wtd. avg.) | 75.4M | 75.9M | 68.9M | 65.2M | 52.1M | 50.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $41.2M | $66.1M | $157.6M | $400.9M | $201.9M | $242.0M | $128.5M |
| Short-term investments | — | — | $216.8M | $91.3M | $50.7M | — | — |
| Receivables | $4.6M | $55.8M | $19.5M | $33.4M | $15.6M | — | — |
| Total current assets | $248.8M | $300.5M | $412.9M | $544.7M | $288.2M | — | — |
| Property, plant and equipment | $15.5M | $17.6M | $19.8M | $24.7M | $22.8M | — | — |
| Goodwill | $12.0M | $12.0M | $12.0M | $12.0M | $12.0M | — | — |
| Other intangibles | $1.4M | $4.6M | $7.7M | $8.8M | $3.8M | — | — |
| Total assets | $346.5M | $463.1M | $580.9M | $648.7M | $389.1M | — | — |
| Accounts payable | $36.3M | $59.8M | $46.0M | $87.5M | $62.8M | — | — |
| Total current liabilities | $42.3M | $88.3M | $55.8M | $95.6M | $71.9M | — | — |
| Total liabilities | $78.0M | $124.3M | $116.1M | $155.8M | $140.0M | — | — |
| Retained earnings | -$953.2M | -$830.3M | -$677.4M | -$558.8M | -$683.1M | — | — |
| Total equity | $268.5M | $338.8M | $464.8M | $493.0M | $249.1M | $409.9M | $245.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$33.0M | -$110.1M | -$118.3M | $144.1M | -$192.5M | -$151.4M | — |
| Depreciation and amortisation | $3.7M | $4.2M | $7.5M | $6.2M | $3.7M | $3.4M | — |
| Stock-based compensation | $28.0M | $17.8M | $8.1M | $4.0M | $10.8M | $29.1M | — |
| Capital expenditure | $1.5M | $2.0M | $2.5M | $8.2M | $12.4M | $4.3M | — |
| Investing cash flow | $26.7M | $38.8M | -$207.3M | -$53.8M | $144.6M | -$43.4M | — |
| Financing cash flow | -$18.6M | -$20.4M | $81.9M | $108.6M | $8.0M | $309.0M | — |
| Buybacks | $41.7M | $30.1M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001937653-26-000015.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $39.0M | $26.7M | $412.5M | $76.0M | $76.3M | $106.0M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$180.6M | -$211.8M | $124.3M | -$118.7M | -$122.7M | -$81.1M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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