Home › Companies › ZYME

Pipeline (11 active programs)

Technology platforms

Capital (as filed)

Cash

$179M cash and cash equivalents · Jun 30, 2026 (10-Q)

Operating cash flow

−$31.9M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$573M cash per the update of Aug 25, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (6)

• 2026-10-27 UPDATE: Zymeworks (ZYME) - ZW191 Survives Contact 🔒 Paid
• 2026-10-24 UPDATE: Zymeworks (ZYME) - Roche Buys the Trispecific 🔒 Paid
• 2026-09-24 UPDATE: Zymeworks (ZYME) - Theravance Is In the Building 🔒 Paid
• 2026-08-25 UPDATE: Zymeworks (ZYME) - The Flywheel Caught 🔒 Paid
• 2026-08-07 UPDATE: Zymeworks (ZYME) - The Runway Guidance Just Disappeared 🔒 Paid
• 2026-07-09 Zymeworks Inc. (ZYME) — Scientific Deep Dive for Zanidatamab (Ziihera®), ZW191, and the Royalty-Aggregation Pipeline 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (6 calls)

Every verdict Biotech Distilled has published on Zymeworks, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-07-09 Watch Zymeworks Inc. (ZYME) — Scientific Deep Dive for Zanidatamab (Ziihera®), ZW191, and the Royalty-Aggregation Pipeline Zanidatamab franchise and Aug 25 PDUFA are close to money-good, but the royalty-aggregation pivot is unproven and the balance sheet is aggressively leveraged, warranting a watch until the milestone lands.
2. 2026-08-07 Speculative buy speculative UPDATE: Zymeworks (ZYME) - The Runway Guidance Just Disappeared Stock is 13.2% lower than a month ago, below management's own buyback price, going into a well-telegraphed approval that unlocks $250M, but operating burn, withdrawn runway guidance, and one-fund governance keep conviction speculative.
3. 2026-08-25 Buy core UPDATE: Zymeworks (ZYME) - The Flywheel Caught FDA approved zanidatamab with a broader-than-expected label (IHC 2+/ISH+, no PD-L1 gate), the $250M Jazz milestone is earned, the twelve-month liquidity question is resolved, and the franchise is larger than modeled.
4. 2026-09-24 Buy core UPDATE: Zymeworks (ZYME) - Theravance Is In the Building Theravance close removes the last named execution risk; financing keeps the parent company out of lenders' reach and is sized to be paid off before generics arrive, confirming the aggregator model.
5. 2026-10-24 Buy core UPDATE: Zymeworks (ZYME) - Roche Buys the Trispecific Roche's $55M upfront plus $40M Phase 1b milestone for ZW209 validates the out-licensing model and provides near-term non-dilutive cash, though the core thesis still rests on the Ziihera royalty ramp.
6. 2026-10-27 Buy core UPDATE: Zymeworks (ZYME) - ZW191 Survives Contact Randomized ZW191 data (n=80) confirmed a 64.5% response rate at the lower dose with half the severe toxicity, strengthening the partnering package, though value only materializes through a deal not yet signed.

• Long call · opened Aug 7, 2026 at $23.54 · +25.9% vs XBI -3.3% (Nov 6, 2026)

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (4 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

• 2026-08-06 10-Q in filings ↓

  • “In April 2026, the U.S. Food and Drug Administration ("FDA") accepted the sBLA filing for Ziihera® (zanidatamab-hrii) combinations for the first-line treatment of adult patients with HER2+ unresectable locally advanced or metastatic gastric, gastroesophageal junction ("GEJ"), or GEA for priority review with a PDUFA date of August 25, 2026.”

    matched to Zanidatamab (China NMPA) · regulatory decision · read as August 25, 2026 / matched to Zanidatamab (HERIZON-GEA-01) · interim data · read as August 25, 2026
• 2026-08-06 10-Q in filings ↓

  • “Table of Contents Partnered Programs Zanidatamab The top-line results from the second interim overall survival analysis for the HERIZON-GEA-01 trial doublet regimen are expected in the third quarter of 2026.”

    matched to Zanidatamab (HERIZON-GEA-01) · interim data · read as third quarter of 2026

  • “The top-line results from the second interim overall survival analysis for the HERIZON-GEA-01 trial doublet regimen are expected in the third quarter of 2026.”

    matched to Zanidatamab (HERIZON-GEA-01) · interim data · read as third quarter of 2026
• 2026-08-06 8-K in filings ↓

  • “The top-line results from the second interim overall survival analysis for the HERIZON-GEA-01 trial doublet regimen are expected in the third quarter of 2026.”

    matched to Zanidatamab (HERIZON-GEA-01) · interim data · read as third quarter of 2026

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (25)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 6, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Oct 27, 2026ReleaseFaeth Appoints Adam Schayowitz, Ph.D., MBA, Head of Research and Development at Zymeworks, to Board of Directorsvia aggregator
• Oct 26, 2026DEFA14AProxy soliciting material
• Oct 26, 2026DEF 14AProxy statement
• Oct 24, 2026ReleaseZymeworks Presents New Phase 1 Data for Folate Receptor Alpha-Targeting Antibody-Drug Conjugate ZW191 at ESMO Congress 2026via aggregator→ BD updateThe randomized Part 2a dose-optimization data I've been waiting for just landed at ESMO: ZW191 hit 64.5% confirmed ORR in high-grade serous PROC at 6.4 mg/kg with a 100% disease control rate, median duration of response not reached at 7 months, and a dramatically cleaner safety profile than the higher dose — and the FRα-negative activity that makes this drug different from Elahere held up in the randomized cohort.
• Oct 23, 2026ReleaseZymeworks Enters into an Exclusive Global License and Collaboration Agreement with Roche for ZW209, a Trispecific T cell Engager Targeting DLL3via aggregator→ BD updateSummary on the 8-K
• Oct 23, 20268-KCurrent report: material agreement, Reg FD disclosure · EX-99.1→ BD updateZymeworks just signed a global Roche partnership for ZW209 — the DLL3 trispecific T-cell engager I called a placeholder — for $55M upfront, $40M at Phase 1b, and up to $718M in milestones. The R&D-to-royalty engine just printed its first wholly-owned deal.BD extracted 2 program updates from this document → ZYME pipeline
• Oct 19, 2026ReleaseZymeworks Appoints Suzanne Monahan as Senior Vice President, Commercial and General Manager, Theravance Biopharmavia aggregator
• Oct 15, 2026ReleaseZymeworks Announces Participation in Upcoming Investor Conferences and Date of Third Quarter 2026 Financial Resultsvia aggregator
• Sep 28, 2026ReleaseZymeworks Announces Updated 2026 Financial Guidance and Final Transaction Details Following Theravance Biopharma Acquisitionvia aggregatorZymeworks dropped updated 2026 financial guidance this morning alongside the first post-Theravance-close transaction details — exactly the combined-company cash picture the last update told subscribers to watch for.
• Sep 23, 2026ReleaseZymeworks Completes Acquisition of Theravance Biopharma Conference call with Zymeworks management on September 28 at 8:30 am Eastern Time (ET) VANCOUVER, British Columbia, Sept. 23, 2026 (GLOBE NEWSWI→ BD updateSummary on the 8-K
• Sep 23, 20268-KCurrent report: material agreement, acquisition / disposition, debt / obligation · EX-99.1→ BD updateThe Theravance deal closed today, adding ~$360M of target cash and ~$60M/yr of YUPELRI profit-share to the balance sheet — and the $350M OMERS note terms are now fully in print, revealing an 8.25% fixed rate and a waterfall that directs 75% of YUPELRI Adjusted Net Profit to debt service.
• Aug 25, 2026ReleaseU.S. FDA Approves Ziihera® (zanidatamab-hrii) with and without Tislelizumab plus Chemotherapy in First-Line HER2+ Advanced Gastroesophageal Adenocarcinomavia aggregator→ BD updateSummary on the 8-KBD extracted 1 program update from this document → ZYME pipeline
• Aug 25, 20268-KCurrent report: Reg FD disclosure, other events · EX-99.1→ BD updateThe flywheel just caught: FDA approved two Ziihera+chemo regimens in 1L HER2+ GEA on the August 25 PDUFA date, triggering the $250M Jazz milestone that transforms the balance sheet and de-risks the royalty-aggregation thesis in one wire transfer.
• Aug 11, 2026ReleaseZymeworks Announces Participation in Upcoming Investor Conferences VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Zymeworks Inc. (Nasdaq: ZYME), a biotechnology company managing a port
• Aug 6, 2026ReleaseZymeworks Provides Corporate Update and Reports Second Quarter 2026 Financial Resultsvia aggregator
• Aug 6, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1BD extracted 2 program updates from this document → ZYME pipeline
• Aug 6, 202610-QQuarterly report
• Jun 29, 20268-KCurrent report: material agreement, Reg FD disclosure · EX-99.1
• May 14, 20268-KCurrent report: Reg FD disclosure, other events · EX-99.1
• May 7, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1
• May 7, 202610-QQuarterly report
• Apr 1, 20268-KCurrent report: officer / director change · EX-99.1
• Mar 2, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1
• Mar 2, 20268-KCurrent report: material agreement, debt / obligation, Reg FD disclosure · EX-99.1
• Mar 2, 202610-KAnnual report