Zymeworks Inc. (ZYME) Form 10-Q — Aug 6, 2026

$ZYMEForm 10-QFiled Aug 6, 2026, 4:11 PM ET0001937653-26-000047Original filing

Zymeworks posted Q2 2026 revenue of $4.6 million, down roughly 91% from $48.7 million a year ago, and swung to a net loss of $45.0 million, or $(0.62) per share, versus net income of $2.3 million in the prior-year quarter as one-time 2025 milestone revenue did not repeat. The company reaffirmed its pending acquisition of Theravance Biopharma at $17.00 per share in cash plus one contingent value right, backed by a $350 million debt commitment from OMERS Life Sciences, with closing expected in the second half of 2026 and a $32.5 million reverse termination fee if antitrust clearance fails.

Key figures

Eps: -$0.62 Q2 2026; -$1.21 H1 2026
Revenue: $4.59M Q2 2026; $7.0M H1 2026
Net Income: -$45.0M Q2 2026; -$89.2M H1 2026
Total Debt: $252.6M liability related to sale of future royalties
Revenue Yoy: -90.6% Q2 YoY ($4.59M vs $48.73M)
Total Assets: $397.0M
Cash Position: $179.4M cash and equivalents; $322.5M total cash resources including marketable securities
Shares Outstanding: 70959241
Q2 gna expense: $19.3M
Q2 rnd expense: $27.4M
Merger end date: 2026-12-28
H1 2026 buybacks: $143.0M (3,766,336 shares under 2025 program; 2,008,243 shares under 2026 program)
Accumulated deficit: $1,171.2M
Omers debt commitment: $350M
H1 operating cash flow: -$77.7M
Royalty loan principal: $250M
Reverse termination fee: $32.5M
Pdufa date ziihera 1l gea: 2026-08-25
Ziihera royalty revenue q2: $1.8M
Zw191 confirmed response rate: 78.6% FRα-positive; 47.4% FRα-negative
Cumulative buybacks since 2024: $213.6M for 10,571,316 shares at $20.21 avg
Jazz beone remaining milestones: up to $1.51B
Royalty effective interest rate: 10.7%
Buyback 2026 program through aug4: $49.4M (1,971,454 shares at $25.04 avg)
Near term gea milestones available: $440.0M (US $250M, EU $100M, Japan $75M, China $15M)
Royalty loan total payable by 2042: $481.3M
Theravance per share consideration: $17.00 cash + 1 CVR
Royalty loan payable if repaid by 2033: $412.5M

Price after filing

1 day: +3.1%7 days: +13.0%30 days: +28.1%

Close on the filing date to close N calendar days later (from $22.79). Historical, not a forecast.

AI analysis

Red flags6 · Pro

The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.

Upgrade to Pro · $49/mo billed annually

AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.