Zymeworks
Develops antibody medicines and earns royalties from partner-run therapies.
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Profile
Develops antibody-based medicines and manages licensed assets, earning milestones and royalties as partners advance and commercialize programs such as Ziihera and pasritamig. Internal work focuses on ZW191 and ZW251 antibody-drug conjugates, while major partners control late-stage development and commercial execution.
Develops multifunctional antibody medicines while managing licensed assets that can generate milestones and royalties. Ziihera, a HER2-targeted bispecific antibody created with the Azymetric platform, is commercialized by Jazz Pharmaceuticals and BeOne Medicines in separate territories; pasritamig is a partner-run prostate-cancer program. Wholly owned work centers on ZW191 and ZW251 antibody-drug conjugates, with multispecific programs extending into oncology, inflammation, and autoimmune disease.
Combines protein engineering and drug chemistry to design bispecific antibodies, multispecific T-cell engagers, and antibody-drug conjugates. Partnerships shift later-stage development, commercialization, and manufacturing to larger drugmakers, while internal teams retain early research and selected clinical development. Revenue therefore depends on partner-controlled product sales, milestones, clinical progress, and regulatory decisions. The proposed Theravance Biopharma acquisition remains subject to closing conditions.
Company facts
Key statistics
Year to date +6.2% · Average volume (30d) 580.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 26, 2026 | H.C. Wainwright | Reiterate | Buy | $51 | $55 |
| Aug 26, 2026 | Deutsche Bank | Target | $32 | ||
| Aug 7, 2026 | Truist Financial | Target | $31 | $32 | |
| Aug 7, 2026 | Stifel Nicolaus | Target | $40 | $46 | |
| Aug 7, 2026 | Wells Fargo | Reiterate | Overweight | $37 | $40 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.56 | −$0.62 | −10.3% | $4.5M | $4.6M | +1.2% | +1.77% |
| May 7, 2026Q1 FY26 | −$0.10 | −$0.59 | −490.0% | $24.4M | $2.4M | −90.1% | −10.19% |
| Mar 2, 2026Q4 FY25 | −$0.35 | −$0.55 | −57.1% | $19.2M | $2.5M | −86.9% | +4.89% |
| Nov 6, 2025Q3 FY25 | −$0.30 | −$0.26 | +13.3% | $19.5M | $27.6M | +41.7% | −8.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $27.1M | $48.7M | $27.6M | $2.5M | $2.4M | $4.6M | |
| Gross profit | $27.1M | $48.7M | $27.6M | $824.0K | −$439.0K | $4.6M | |
| Operating income | −$25.6M | −$674.0K | −$22.1M | −$44.2M | −$47.1M | −$42.2M | |
| Net income | −$22.6M | $2.3M | −$19.6M | −$41.2M | −$44.2M | −$45.0M | |
| Diluted EPS | −$0.30 | $0.03 | −$0.26 | −$0.55 | −$0.59 | −$0.62 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 32.8% | -18.2% | 100.0% | |
| Operating margin | -94.5% | -1.4% | -80.1% | -1,755.5% | -1,956.7% | -919.0% |
Fiscal years (4-quarter sums)FY21 $26.7M · FY22 $412.5M · FY23 $76.0M · FY24 $76.3M · FY25 $106.0M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $270.7M · Total debt $268.6M · Total assets $397.0M · Shareholders' equity $80.4M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 73.57M · Float —
Float — provider float is below the insider stake.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ecor1 Capital, LLC | 22.97M | 31.22% | 13F | Aug 14, 2026 |
| Rubric Capital Management LP | 7.00M | 9.51% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 4.25M | 5.78% | 13F | Aug 7, 2026 |
| Perceptive Advisors LLC | 4.18M | 5.69% | 13F | Aug 14, 2026 |
| BVF Inc/IL | 3.65M | 4.96% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 12, 2026 | Mark Hollywood | officer: EVP & Chief Operating Officer | −6,120 | $22.67 |
| Jan 12, 2026 | Kenneth Galbraith | director, officer: Chair & CEO | −30,424 | $22.67 |
| Jan 12, 2026 | Paul Andrew Moore | officer: Chief Scientific Officer | −9,560 | $22.67 |
| Jan 12, 2026 | Jeffrey T. L. Smith | officer: EVP & Chief Medical Officer | −9,310 | $22.67 |
| Jan 5, 2026 | Paul Andrew Moore | officer: Chief Scientific Officer | −20,110 | $25.10 |
Peers
- AstraZeneca (ADR)
HER2-ADC leader; Enhertu dominates 2L gastric and HER2+ breast globally.
- Pfizer
Global pharma with HER2 inhibitor Tukysa and trastuzumab biosimilar Trazimera
- Xencor
XmAb Fc-engineering platform licensed broadly; no HER2 oncology overlap.
- MacroGenics
DART/TRIDENT bispecific platform licensor and oncology ADC developer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Zymeworks | $28.00 | −0.96% | $2.08B | — | 11.5 | 56.0 | −90.6% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Xencor | $26.05 | +0.07% | $1.93B | — | — | 18.4 | +17.5% |
| MacroGenics | $4.10 | −0.97% | $262.5M | — | — | 1.6 | +47.6% |
| Median | 30.7 | 12.6 | 3.3 | +11.9% |