What is the market's earnings forecast for Zymeworks next quarter?

What were the key takeaways from Zymeworks’s earnings call?

What is Zymeworks's gross profit margin?

What were the key takeaways from Zymeworks's earnings call?

What guidance did Zymeworks's management provide for the next earnings period?

What is Zymeworks's latest dividend and current dividend yield?

What does Zymeworks do and what are its main business segments?

What factors drove the changes in Zymeworks's revenue and profit?

- **Clinical Milestone**: Zanidatamab demonstrates >1 year PFS and >2 years OS in first-line GEA, with Jazz targeting Q1 2026 BLA submission.
- **$250M Royalty Financing**: Secures non-dilutive capital for growth, with 70% of zanidatamab royalties retained by Zymeworks.
- **Revenue Growth**: 2025 revenue up 39% YoY to $106 million, driven by collaboration milestones.
- **Share Buybacks**: $125M program 50% complete, with plans to continue at current discount.

**【CEO Summary Section】**
- Zymeworks reported Phase I clinical trial results for zanidatamab in first-line metastatic or locally advanced HER2-positive gastric esophageal adenocarcinoma (GEA), showing median progression-free survival (PFS) >1 year and median overall survival (OS) >2 years. Jazz Pharmaceuticals expects to submit a supplemental BLA under the FDA's Real-Time Oncology Review program in Q1 2026.
- Announced a $250 million non-recourse royalty-backed note with Royalty Pharma, securing low-cost capital to fund share buybacks and strategic acquisitions. The note is secured by 30% of future zanidatamab royalties, with 70% retained by Zymeworks.
- Zymeworks is eligible for up to $1.5 billion in regulatory and commercial milestones from zanidatamab, including $440 million tied to GEA approvals and $89 million for a third indication.

**【CFO Financial Summary】**
- Total revenue for 2025 was $106 million, up 39% YoY, driven by milestone payments from collaborations with Jazz, B1, and others.
- Operating expenses decreased 7% YoY to $198.5 million, reflecting cost control and reduced R&D spend on discontinued programs.
- Cash position as of December 2025 was $270.6 million, with a runway extending beyond 2028, supported by anticipated milestones and the Royalty Pharma note.

**【Q&A Highlights】**
- **ADC Pipeline Progress**: ZW-251 (GPC3-targeting ADC) is enrolling ~100 patients across North America, Europe, and Asia-Pacific. ZW-191 (HER2-targeting ADC) Phase I data expected in 2026.
- **Strategic Acquisitions**: CEO Ken Galbraith emphasized disciplined capital allocation for high-impact acquisitions, targeting assets with clear commercial pathways and attractive returns.
- **Share Buybacks**: $125 million buyback program (authorized in Nov 2025) is 50% complete, with plans to continue repurchasing shares at current discount to intrinsic value.
- **R&D Strategy**: Transitioning to a partnership-driven R&D model, sharing development costs with collaborators while retaining core assets like ZW-251 and ZW-191.

Zymeworks Inc.(ZYME)-20260302-2025 Q4 Earnings call transcript

- **Revenue Surges**: Q3 2025 revenue up 72.5% YoY to $27.6 million, driven by $25M J&J milestone and $1M royalties.
- **Clinical Breakthroughs**: ZW191 ADC shows 64% ORR in gynecologic cancers with favorable safety; ZW251 GPC3 ADC dosing begins.
- **Strategic Moves**: $22.7M share buyback, pipeline expansion with DLL3 trispecific T-cell engager, and J&J pasritamig Phase III milestone.
- **Upcoming Catalysts**: HERIZON-GEA-01 PFS/OS data Q4 2025, ZW191 dose optimization, and DLL3 IND filing H1 2026.

**【Leone Patterson's Presentation】**
- **Revenue Growth**: Q3 2025 revenue of $27.6 million, up 72.5% YoY, driven by a $25 million milestone from J&J for pasritamig Phase III progress and $1 million in royalties.
- **Financial Highlights**: GAAP net loss of $19.6 million (vs. $29.9M YoY), operating expenses stable at $49.7 million, and $22.7 million share repurchased under a $30 million program.
- **Pipeline Momentum**: ZW191 ADC dosing in Phase I, ZW251 GPC3 ADC first patient dosed, and ZW171 T-cell engager discontinued due to monotherapy limitations.

**【Sabeen Mekan's Clinical Update】**
- **ZW191 ADC**: 64% ORR in gynecologic cancers at 6.4-9.6 mg/kg, tolerable safety profile with no Grade 3+ AEs, and planned dose optimization in Q4 2025.
- **ZW251 ADC**: Phase I trial for hepatocellular carcinoma with DAR4 payload, targeting 100 patients globally, with enrollment underway.

**【Paul Moore's R&D Update】**
- **ADC Strategy**: Tailored ADCs with optimal D:AR and payloads (e.g., ZW191's ZB06519), discontinuation of ZW171 due to monotherapy futility, and next-gen T-cell engagers (e.g., DLL3 trispecific).
- **Preclinical Pipeline**: IND-ready NaPi2b ADC, Ly6E, and PTK7 targets, with focus on combination therapies and external partnerships.

**【Ken Galbraith's CEO Remarks】**
- **Strategic Focus**: Partnership-driven growth (e.g., J&J, Jazz), disciplined capital allocation, and $299.4 million cash balance to fund operations through 2027.
- **Shareholder Value**: Share repurchases, royalty portfolio reinvestment, and pipeline derisking via collaborations.

**【Q&A Highlights】**
- **HERIZON-GEA-01 Trial**: Jazz expanded ITT population to 920 patients, delaying PFS/OS analysis but maintaining trial integrity.
- **GPC3 ADC (ZW251)**: DAR4 design balances efficacy and safety, with potential for earlier-line use in hepatocellular carcinoma.
- **DLL3 Trispecific**: CD28 co-stimulation aims to enhance T-cell persistence, with preclinical data showing improved efficacy vs. bispecifics.
- **Zanidatamab (Jazz)**: PFS/OS data expected Q4 2025, with Jazz maintaining confidence in potential registrational success.


Zymeworks Inc. (ZYME) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 2025 revenue of $48.7M (+153% YoY) driven by $20M BeOne milestone and $7.5M BMS payment.
- **Financial Health**: Net income of $2.3M vs. Q2 2024 loss; cash of $333.4M supports operations into 2027.
- **Clinical Momentum**: ZW251 IND cleared; ZW171/191 trials progressing with adaptive dosing strategies.
- **Strategic Partnerships**: Ziihera approvals in China/Europe; J&J's pasritamig shows promising safety in prostate cancer.
- **Upcoming Catalyst**: HERIZON-GEA PFS data expected Q4 2025.

**【CEO Summary Section】**
- Zymeworks' strategy focuses on platform-driven innovation and strategic partnerships to maximize asset value. Key partnerships with Jazz and BeOne for zanidatamab (Ziihera) are expected to generate royalty revenues and milestone payments.
- The company maintains a wholly owned pipeline of 6 clinical-stage ADCs and multispecific antibodies, with 100% commercial rights retained. Future collaborations aim to share risk and accelerate development while preserving long-term economics.
- Financial discipline is prioritized, with a focus on preserving cash runway and evaluating opportunities for capital allocation, including shareholder returns.

**【CFO Financial Commentary】**
- Q2 2025 total revenue: $48.7 million (vs. $19.2 million in Q2 2024), driven by $20 million milestone from BeOne for zanidatamab's China approval and $7.5 million from BMS.
- Operating expenses: $49.4 million (20% decrease vs. Q2 2024), due to reduced costs for zanidatamab and ZW220, offset by increased R&D for ZW171/191/251.
- Net income: $2.3 million (vs. net loss of $37.7 million in Q2 2024), reflecting higher revenue and lower expenses.
- Cash resources: $333.4 million as of June 30, 2025, supporting operations into H2 2027.

**【Clinical Development Updates】**
- **ZW171 (mesothelin ADC)**: Phase I trial using subcutaneous step-up dosing (4.2 µg, 12.6 µg, 38 µg) with mTPI design to identify MTD. Enrollment progressing as planned.
- **ZW191 (FRα ADC)**: Phase I trial in ovarian, endometrial, and NSCLC cancers with starting dose of 1.6 mg/kg IV. Conservative approach due to first-in-human 519 payload, with adaptive dose escalation.
- **ZW251 (GPC3 ADC)**: Received IND clearance for HCC. Designed with DAR4 payload for enhanced tolerability in liver-impaired patients, with preclinical data showing strong safety and efficacy.

**【R&D and Pipeline Updates】**
- **ZW1528 (IL-4/IL-33 bispecific)**: Preclinical data shows superior inhibition of type 2 and non-type 2 inflammation vs. monotherapies. Expected non-U.S. regulatory filing in H2 2026.
- **Ziihera (zanidatamab)**: Conditional approvals in China and Europe for second-line HER2+ BTC, with Jazz and BeOne initiating Phase II trials for GEA and BTC expansion.
- **Partnerships**: J&J's pasritamig (KLK2 TCE) shows favorable safety and early efficacy in prostate cancer; Daiichi Sankyo's DS-2243 (TCE) in Phase I for solid tumors.

**【Q&A Highlights】**
- **HERIZON-GEA Study**: Top-line PFS data expected Q4 2025; Jazz and BeOne will determine data release format. No plans to stratify by PD-L1 status in top-line results.
- **Pipeline Dosing**: ZW251 to start at higher doses due to preclinical safety; ZW191 enrollment on track for initial data in 2025/2026.
- **Partnership Strategy**: Open to collaborations across entire pipeline, prioritizing partners with complementary capabilities and global reach.


Zymeworks Inc. (ZYME) Q2 2025 Earnings Call Transcript

- **Revenue Soars 171% YoY**: Q1 2025 revenue of $27.1M driven by $17.1M in milestones and partnerships.
- **Pipeline Catalysts Abound**: Upcoming EMA decision on zanidatamab, JNJ's ASCO presentation of KLK2 T-cell engager, and ZW209 IND in H1 2026.
- **ADC & T-Cell Engager Innovation**: Ly6E ADC shows superior efficacy, PTK7 biparatopic ADC enhances payload delivery, and ZW209's CD28 co-stimulation reduces off-target activation.
- **Financial Discipline**: $321.6M cash runway into 2027 with 10% operating expense growth, balanced against partner-driven revenue streams.

**【Leone Patterson - Business & Financial Update】**
- **Revenue Growth**: Q1 2025 revenue of $27.1M vs. $10M in Q1 2024, driven by $14M milestone from GSK and $3.1M from Daiichi Sankyo.
- **Net Loss Improvement**: Net loss of $22.6M (vs. $31.7M in Q1 2024) due to higher revenue offset by 10% increase in operating expenses.
- **Cash Position**: $321.6M in cash as of March 2025, providing runway into H2 2027.
- **Pipeline Momentum**: Upcoming EMA approval decision for zanidatamab in biliary tract cancer and JNJ's ASCO presentation of KLK2 T-cell engager with $86M+ potential milestones.

**【Paul Moore - R&D Highlights】**
- **ZW209 (DLL3 T-cell engager)**: Preclinical data shows superior cytotoxicity vs. tarlatamab, with obligate CD28 co-stimulation for safety. IND submission planned for H1 2026.
- **ADC Programs**: Ly6E-targeted ADC (ZW327) demonstrates superior efficacy and tolerability; PTK7 biparatopic ADC shows enhanced internalization and cytotoxicity.
- **Clinical Trials**: ZW171 (mesothelin T-cell engager) Phase 1 trial progressing with 15+ global sites activated.

**【Ken Galbraith - Strategic Overview】**
- **Capital Allocation**: Disciplined approach to pipeline prioritization, balancing wholly-owned assets with partner-driven revenue (e.g., zanidatamab royalties up to 20%).
- **Leadership Expansion**: Appointments of Dr. Sabeen Mekan (SVP Clinical Development) and Barbara Schaeffler (SVP Clinical Ops) to strengthen clinical execution.
- **Near-Term Catalysts**: Phase 3 zanidatamab data readout in 2025, JNJ's KLK2 T-cell engager Phase 1 results at ASCO, and EMA decision on zanidatamab.

**【Q&A Key Takeaways】**
- **Zanidatamab Milestones**: Potential $86M+ from JNJ partnership and royalty tiers up to 20% of Jazz sales post-approval.
- **Internal Pipeline Capacity**: Can support ~5 internal Phase 1 programs with current infrastructure, evaluating collaborations for additional assets.
- **ADC vs. T-Cell Engager Strategy**: Target-specific optimization (e.g., DLL3 for T-cell engagers, Ly6E for ADCs) to maximize therapeutic impact.

Zymeworks Inc. (ZYME) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: FY2024 revenue of $76.3M driven by $25M Jazz milestone and $8M BeiGene BLA milestone.
- **Pipeline Prioritization**: ZW251 prioritized for HCC with IND in mid-2025; ZW220 paused for potential partnerships.
- **Cash Runway**: $324.2M cash as of Q4 2024, supporting operations into H2 2027.
- **Clinical Momentum**: ZW171 and ZW191 Phase 1 trials progressing globally with tolerable profiles.
- **Autoimmune Expansion**: ZW1528 nominated for COPD, leveraging oncology immune modulation expertise.

**【Leone Patterson: Corporate & Financial Update】**
- **Revenue Performance**: FY2024 total revenue of $76.3M, driven by $25M milestone from Jazz for Ziihera FDA approval and $8M from BeiGene for zanidatamab BLA acceptance in China. Operating expenses remained stable at $213.4M, with R&D down 5% YoY due to program transfers to partners.
- **Financial Position**: $324.2M cash as of Q4 2024, providing a cash runway into H2 2027. Anticipated milestone payments from Jazz and BeiGene could extend this runway.
- **Partnership Milestones**: $14M GSK research milestone in Q1 2025 and $1.1M Ziihera net sales by Jazz in Q4 2024 highlight partner collaboration strength.

**【Paul Moore: R&D Pipeline Updates】**
- **Oncology Pipeline**: 
  - ZW251 (GPC3 ADC) prioritized for IND in mid-2025, with ZW220 (NaPi2b ADC) paused for potential partnerships.
  - ZW171 (mesothelin TCE) and ZW191 (folate receptor ADC) in global Phase 1 trials, showing tolerable profiles and early activity.
- **Autoimmune Expansion**: ZW1528 (IL-4Rα/IL-33 bispecific) nominated for COPD, leveraging oncology immune modulation expertise.

**【Kenneth Galbraith: Strategic Priorities & Q&A】**
- **Pipeline Focus**: Accelerated ZW251 development for hepatocellular carcinoma (HCC) due to unmet need and differentiated preclinical data. ZW220 remains IND-ready but delayed for resource allocation.
- **Commercial Catalysts**: Ziihera royalties from Jazz and BeiGene, with top-line HERIZON-GEA-01 data expected H2 2025.
- **Partnership Outlook**: Open to new collaborations to expand ADC and TCE pipelines, with focus on autoimmune and oncology opportunities.


Actual										-0.64	-0.77	-1.43	-0.74	-0.87	-1.31	-1.25	-0.95	-1.19	-0.97	-0.72	4.65	-0.37	-0.76	-0.41	-0.2	-0.42	-0.49	-0.39	-0.31	-0.3	0.03	-0.26	-0.55
Forecast										-1.1455	-0.8593	-0.886	-1.226	-1.0439	-1.051	-1.2621	-1.1412	-0.9812	-0.9544	-0.9386	1.4254	-0.5361	-0.4704	-0.4694	-0.4147	-0.322	-0.4175	-0.3968	-0.0994	-0.6836	-0.4826	-0.2947	-0.4611
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+44.13%	+10.39%	-61.40%	+39.64%	+16.66%	-24.64%	+0.96%	+16.75%	-21.28%	-1.63%	+23.29%	+226.22%	+30.98%	-61.56%	+12.65%	+51.77%	-30.43%	-17.37%	+1.71%	-211.87%	+56.11%	+106.22%	+11.77%	-19.28%

Actual	--	--	--	--	--	--	--	--	--	8.27M	12.36M	2.64M	15.68M	644.00K	1.77M	4.39M	19.87M	1.92M	5.44M	2.63M	402.49M	35.58M	7.00M	16.51M	16.93M	10.03M	19.24M	16.00M	31.03M	27.11M	48.73M	27.61M	2.52M
Forecast	--	--	--	--	--	--	--	--	--	6.75M	8.11M	12.72M	10.30M	7.11M	8.11M	8.58M	10.65M	4.01M	7.09M	3.94M	214.37M	19.43M	17.00M	14.63M	17.66M	17.52M	11.94M	17.90M	45.20M	20.61M	17.25M	29.91M	19.24M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+22.43%	+52.32%	-79.23%	+52.23%	-90.95%	-78.17%	-48.77%	+86.50%	-52.22%	-23.22%	-33.18%	+87.76%	+83.07%	-58.81%	+12.80%	-4.18%	-42.74%	+61.22%	-10.62%	-31.34%	+31.53%	+182.52%	-7.69%	-86.93%

ZYME

ZYME fundamentals

ZYME Q4 2025 Earnings

Earnings Call

You can ask Aime

ZYME

ZYME fundamentals

ZYME Q4 2025 Earnings

Earnings Call

ZYME Earnings Call Summary for Q4/20258:30 AM on Mar 2, 2026

ZYME Earnings Call Summary for Q3/20254:30 PM on Nov 6, 2025

ZYME Earnings Call Summary for Q2/20254:30 PM on Aug 7, 2025

ZYME Earnings Call Summary for Q1/20254:30 PM on May 8, 2025

ZYME Earnings Call Summary for Q4/20244:30 PM on Mar 5, 2025

You can ask Aime