Zymeworks Inc. ZYME

Healthcare SIC 2834 - Pharmaceutical Preparations Nasdaq

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.

Last close 29.19 2026-09-04
Market cap $2.07B 2026-06-30 share count
52-week range 14.69 - 31.34

Valuation FY2025 figures against the last close

P/S19.5x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-1.08

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
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 -1.08-1.62-1.721.91-4.11-3.58
EPS, diluted -1.08-1.62-1.721.90-4.61-3.58
Shares, diluted (wtd. avg.) $75.4M$75.9M$68.9M$65.2M$52.1M$50.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019
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.

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