Zymeworks (NASDAQ:ZYME) reported a significant narrowing of its annual losses and a double-digit jump in revenue on Monday, driven by the continued maturation of its oncology-focused licensing portfolio.
The Vancouver-based biotech recorded total revenue of $106 million for 2025, a 39% increase over 2024, while successfully reducing its net loss by 34% to $81.1 million.
The company’s 2026 outlook is anchored by the anticipated commercial rollout of Ziihera (zanidatamab-hrii).
Partner Jazz Pharmaceuticals is on track to complete a Supplemental Biologics License Application (sBLA) for Ziihera in first-line HER2-positive gastroesophageal adenocarcinoma (GEA) this quarter, targeting a potential U.S. launch in the second half of 2026.
Zymeworks remains eligible to earn up to $440 million in milestone payments tied to regulatory approvals of the drug across major global markets, including the U.S., Europe, Japan, and China.
To support its long-term strategy and shareholder returns, Zymeworks recently secured a $250 million non-recourse royalty-backed note financing from Royalty Pharma.
This non-dilutive capital is being utilized to fund an ongoing stock repurchase program—with $62.5 million already deployed as of March 2, 2026—and provides a cash runway that now extends beyond 2028.
Beyond Ziihera, the company highlighted recent clinical progress in its broader pipeline.
Partner Johnson & Johnson (NYSE:JNJ) presented new clinical data for pasritamig in prostate cancer at the ASCO-GU symposium in February, further validating Zymeworks’ proprietary multispecific antibody platform.
As of December 31, 2025, Zymeworks held $270.6 million in cash, cash equivalents, and marketable securities.