GlobeNewswire·Nov 9, 2026, 4:05 PM ET

Zymeworks Provides Corporate Update and Reports Third Quarter 2026 Financial Results

ZYME

Zymeworks raised its 2026 financial guidance to a total revenue range of $337 million to $351 million and an Adjusted EBITDA range of $176 million to $190 million.
The company received a $250 million milestone payment from Jazz Pharmaceuticals following U.S. FDA approval of Ziihera for first-line treatment of HER2-positive advanced gastroesophageal adenocarcinoma.
Zymeworks completed the acquisition of Theravance Biopharma on September 23, 2026, adding recurring commercial cash flow from YUPELRI & contributing approximately $1.5 million in revenue during the third quarter.
A global collaboration agreement with Roche for the development of ZW209 was announced, offering an upfront payment of $55 million, a $40 million payment upon Phase 1b initiation, up to $718 million in milestones, & tiered royalties.
Total revenue for the third quarter of 2026 reached $256.5 million, driven primarily by the $250 million Ziihera milestone, compared to $27.6 million in the same period of 2025.
The company reported a net income of $173.7 million for the third quarter of 2026, a reversal from the $19.6 million net loss recorded in the same period of 2025.
Zymeworks repurchased 534,381 shares for $14.0 million in the third quarter, bringing the total share repurchases for the first nine months of 2026 to 5,737,790 shares for $140.4 million.
Clinical data presented at the ESMO Annual Congress 2026 showed that Ziihera plus tislelizumab & chemotherapy achieved a median overall survival of 27 months with nearly 40% of patients alive at three years.
New data on pasritamig in combination with JNJ-9401 demonstrated a 73% PSA50 response rate & a favorable safety profile in patients with metastatic castration-resistant prostate cancer.
Phase 1 data for the wholly-owned asset ZW191 showed a 64.5% objective response rate in patients with platinum-resistant ovarian cancer.
The company plans to host an R&D Day in New York on February 11, 2027, to present its pipeline & strategic updates.
Zymeworks accessed $600 million in non-dilutive financing in 2026 through royalty-backed notes with a weighted average cost of capital under 10% to fund acquisitions & share repurchases.

Company: Zymeworks Inc.
Keywords: Nasdaq:ZYME, Zymeworks Inc.