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Zymeworks Inc., a biotechnology company, develops biotherapeutics for the treatment of cancer, inflammation, and autoimmune diseases. The company's platforms include Azymetric multispecific antibody platform; Drug Conjugate platform that includes a suite of proprietary cytotoxins comprising topoisomerase and microtubulin inhibiting toxins, stable linkers, and conjugation technologies; EFECT platform, which consists of a set of modifications to the Fc region of antibodies; and ProTECT, a tumor-specific immune co-stimulation platform. Its lead product candidates include Ziihera (zanidatamab-hrii), a bispecific antibody targeting HER2-expressing tumors; zanidatamab for the treatment of neoadjuvant populations, breast cancer, and other HER2-expressing cancers; Pasritamig, a bispecific T cell engager targeting human kallikrein 2 for the treatment monotherapy and castration resistant prostate cancer; ZW191, a clinical- antibody-drug conjugates (ADC) that targets folate receptor alpha expressing tumors, including ovarian, endometrial, and non-small cell lung cancers; ZW251, a clinical-stage ADC molecule for the treatment of glypican 3 expressing hepatocellular carcinoma; ZW220, an ADC that targets NaPi2b-expressing NSCLC and ovarian cancer; ZW209, a novel TriTCE targeting Delta-like ligand 3 -expressing tumor cells for the treatment of solid tumors; and ZW1528, a bispecific molecule to treat chronic obstructive pulmonary disease. It has strategic partnerships and collaborations with Jazz Pharmaceuticals plc; Bristol- Myers Squibb company; Celgene Alpine Investment Co. LLC; GlaxoSmithKline Intellectual Property Development Limited; Daiichi Sankyo Co., Ltd.; Merck Sharp & Dohme Research GmbH; and Janssen Biotech, Inc. Zymeworks Inc. was incorporated in 2003 and is based in Middletown, Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $106M | $-81M | $-81M | $-35M | -30.2% | 38.9% | - |
| 2024 | $76M | $-109M | $-123M | $-113M | -36.2% | 0.4% | - |
| 2023 | $76M | $-121M | $-119M | $-122M | -25.5% | -81.6% | -195.4% |
| 2022 | $412M | $142M | $124M | $131M | 25.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 412.48 | 76.01 | 76.30 | 105.97 |
| Operating Expense | 282 | 214.02 | 196.12 | 198.50 |
| Operating Income | 130.49 | -138.01 | -119.82 | -92.53 |
| EBITDA | 142.49 | -120.70 | -108.62 | -81.42 |
| EBIT | 130.49 | -138.01 | -119.82 | -92.53 |
| Pretax Income | 135.23 | -119.24 | -116.61 | -79.75 |
| Tax Provision | 10.89 | -0.57 | 6.08 | 1.38 |
| Net Income | 124.34 | -118.67 | -122.69 | -81.13 |
| Net Income Common Stockholders | 124.34 | -118.67 | -122.69 | -81.13 |
| Total Expenses | 282 | 214.02 | 196.12 | 198.50 |
| Interest Income | 3.60 | 19.70 | 19.94 | 13.35 |
| Research And Development | 208.60 | 143.62 | 134.62 | 137 |
| Selling General And Administration | 73.40 | 70.40 | 61.50 | 61.50 |
| Normalized EBITDA | 141.34 | -119.52 | -92.11 | -80.81 |
| Normalized Income | 123.28 | -117.49 | -109.65 | -80.65 |
| Basic EPS | 1.91 | -1.72 | -1.62 | -1.08 |
| Diluted EPS | 1.90 | -1.72 | -1.62 | -1.08 |
| Tax Effect Of Unusual Items | 0.09 | -0.01 | -3.47 | -0.13 |
| Tax Rate For Calcs | 0.08 | 0 | 0.21 | 0.21 |
| Total Unusual Items | 1.15 | -1.19 | -16.51 | -0.61 |
| Total Unusual Items Excluding Goodwill | 1.15 | -1.19 | -16.51 | -0.61 |
| Net Income From Continuing Operation Net Minority Interest | 124.34 | -118.67 | -122.69 | -81.13 |
| Reconciled Depreciation | 12 | 17.30 | 11.19 | 11.11 |
| Net Interest Income | 3.60 | 19.70 | 19.94 | 13.35 |
| Net Income From Continuing And Discontinued Operation | 124.34 | -118.67 | -122.69 | -81.13 |
| Total Operating Income As Reported | 130.53 | -138.05 | -137.11 | -92.55 |
| Diluted Average Shares | 65.25 | 68.86 | 75.88 | 75.41 |
| Basic Average Shares | 65.19 | 68.86 | 75.85 | 75.40 |
| Diluted NI Availto Com Stockholders | 124.11 | -118.67 | -122.56 | -81.33 |
| Average Dilution Earnings | -0.23 | 0 | 0.14 | -0.20 |
| Otherunder Preferred Stock Dividend | 0.23 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | 124.34 | -118.67 | -122.69 | -81.13 |
| Net Income Continuous Operations | 124.34 | -118.67 | -122.69 | -81.13 |
| Other Income Expense | 1.11 | -0.89 | -16.73 | -0.56 |
| Other Non Operating Income Expenses | -0.04 | 0.29 | -0.22 | 0.05 |
| Special Income Charges | 0 | 0 | -17.29 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 17.29 | 0 |
| Gain On Sale Of Security | 1.15 | -1.19 | 0.78 | -0.61 |
| Net Non Operating Interest Income Expense | 3.60 | 19.70 | 19.94 | 13.35 |
| Interest Income Non Operating | 3.60 | 19.70 | 19.94 | 13.35 |
| General And Administrative Expense | 73.40 | 70.40 | 61.50 | 61.50 |
| Other Gand A | 49.60 | 48.10 | 35.40 | 30.60 |
| Salaries And Wages | 23.80 | 22.30 | 26.10 | 30.90 |
| Operating Revenue | 412.48 | 76.01 | 76.30 | 105.97 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Zymeworks Inc.this co. | ZYME | - | - | - | -30.2% | - |
| Actuate Therapeutics, Inc. Common stock | ACTU | $68M | - | 8.45 | -280.5% | - |
| LENSAR, Inc. | LNSR | $65M | - | -2.48 | 131.7% | -3.17 |
| Pulmonx Corporation | LUNG | $51M | - | 0.92 | -99.8% | -0.71 |
| Accuray Incorporated | ARAY | $50M | - | 0.94 |
| -2.0% |
| -107.66 |
| INmune Bio Inc. | INMB | $35M | - | 1.50 | -195.3% | -0.38 |
| Myomo, Inc. | MYO | $31M | - | 2.68 | -136.6% | -2.33 |
| Tvardi Therapeutics, Inc. | TVRD | $29M | - | 1.37 | -87.0% | 0.07 |
| Tevogen Bio Holdings Inc. | TVGN | $27M | - | -1.52 | 319.1% | -1.64 |
| Peer Median | - | - | 1.15 | -93.4% | -1.64 | |