Zymeworks Announces Updated 2026 Financial Guidance and Final Transaction Details Following Theravance Biopharma Acquisition
Zymeworks closed its acquisition of Theravance Biopharma, adding YUPELRI (revefenacin) with a 35% share of U.S. net profits via the Viatris collaboration, and Theravance shareholders received $17.00 per share in cash. Updated 2026 guidance calls for total revenue of $278-292 million and adjusted EBITDA of $114-128 million, with YUPELRI delivering $133.1 million in first-half sales and 25% Q2 hospital-sales growth. The $350 million OMERS non-recourse note keeps the deal non-dilutive, with 75% of YUPELRI profit-share cash flows servicing the debt until repayment; a potential $100 million TRELEGY milestone in Q1 2027 could offset the cash outlay.
Key figures
- Guidance
- 2026 total revenue $278M-$292M; 2026 Adjusted EBITDA $114M-$128M, excluding future transactions
- Mid teens irr
- base case mid-teens IRR
- H1 2026 net loss
- $-89.2 million
- Acq cash per share
- $17.00
- Cumulative buyback
- $211.6 million
- Shares outstanding
- 71.2 million
- Buyback shares 2026
- 1971454
- Irish tax attributes
- $2.5 billion
- Buyback utilized 2026
- $49.3 million
- Yupelri h1 2026 sales
- $133.1 million
- Buyback avg price 2026
- $25.04
- Omers non recourse note
- $350 million
- Q2 2026 adjusted ebitda
- $-26.7 million
- Yupelri profit share pct
- 35%
- Cumulative buyback shares
- 10571316
- Revenue guidance low usd m
- 278
- Revenue guidance high usd m
- 292
- Trelegy milestone potential
- $100 million
- Cash used for purchase price
- $217.5 million
- Cumulative buyback avg price
- $20.02
- Acquisition restructuring costs
- $25-30 million
- Non dilutive financing 2026 total
- $600 million
- Adjusted ebitda guidance low usd m
- 114
- Adjusted ebitda guidance high usd m
- 128
- Yupelri collaboration revenue h1 2026
- $38.4 million
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.