Zymeworks Inc.
ZYME · Pharmaceutical Preparations · 73.0M shares · +11%/yr ↑ dilution · EDGAR filings ↗
Reference price $22.67 · est. market cap ~$1.7B — last insider sale, 2026-01-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — antibody-therapeutics clinical/early-commercial (Ziihera), funded.
Strengths
- Liquidity — current ratio 5.9 (64th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Net lossNet loss (net margin -76.6%)
- Chronic dilutionShare count +11%/yr over 3y (dilution, book value/share -60%)
- Cash burnNegative free cash flow (-34.5M)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Notable holderHeld by 4 notable fund(s): CITADEL ADVISORS LLC, STATE STREET CORP, FMR LLC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 9 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-87.3%
Net margin
-76.6%
Return on equity
-30.2%
Return on assets
-23.4%
Revenue growth (QoQ)
-4.3%
Current ratio
5.9×
Free cash flow
-$35M
Tangible book value
$255M
Cash & investments
$41M
Cash runway
5q
Stock comp / revenue
26.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-12 | Hollywood Mark | Sell | 6.1K | $22.67 |
| 2026-01-12 | Smith Jeffrey T L | Sell | 9.3K | $22.67 |
| 2026-01-12 | Moore Paul Andrew | Option exercise | 18K | — |
| 2026-01-12 | Moore Paul Andrew | Sell | 9.6K | $22.67 |
| 2026-01-12 | Galbraith Kenneth | Option exercise | 64K | — |
| 2026-01-12 | Hollywood Mark | Option exercise | 18K | — |
| 2026-01-12 | Galbraith Kenneth | Sell | 30K | $22.67 |
| 2026-01-12 | Smith Jeffrey T L | Option exercise | 18K | — |
| 2026-01-06 | PATTERSON LEONE D | Grant | 459 | $10.55 |
| 2026-01-05 | Moore Paul Andrew | Sell | 11K | $25.10 |
| 2026-01-05 | Moore Paul Andrew | Option exercise | 17K | — |
| 2026-01-05 | Smith Jeffrey T L | Option exercise | 20K | — |
| 2026-01-05 | Smith Jeffrey T L | Sell | 11K | $25.10 |
| 2026-01-05 | Galbraith Kenneth | Option exercise | 48K | — |
| 2026-01-05 | Galbraith Kenneth | Sell | 23K | $25.10 |
| 2026-01-05 | Galbraith Kenneth | Option exercise | 67K | — |
| 2026-01-05 | Galbraith Kenneth | Sell | 32K | $25.10 |
| 2026-01-05 | Moore Paul Andrew | Sell | 9.3K | $25.10 |
| 2026-01-05 | Moore Paul Andrew | Option exercise | 20K | — |
| 2025-12-22 | Galbraith Kenneth | Sell | 48K | $27.02 |
| 2025-12-22 | Galbraith Kenneth | Option exercise | 100K | — |
| 2025-08-12 | Ciongoli Gregory Austin | Grant | 415K | $12.02 |
| 2025-06-26 | EcoR1 Capital, LLC | Option exercise | 5.1M | $0.00 |
| 2025-06-26 | EcoR1 Capital, LLC | Tax withheld | 41 | $12.71 |
| 2025-05-19 | EcoR1 Capital, LLC | Buy | 5.9K | $11.78 |
| 2025-05-15 | EcoR1 Capital, LLC | Buy | 50K | $11.43 |
| 2025-04-17 | EcoR1 Capital, LLC | Buy | 55K | $11.52 |
| 2025-04-16 | EcoR1 Capital, LLC | Buy | 74K | $11.16 |
| 2025-04-04 | EcoR1 Capital, LLC | Buy | 196K | $11.17 |
| 2025-04-03 | EcoR1 Capital, LLC | Buy | 121K | $11.84 |
| 2025-04-02 | EcoR1 Capital, LLC | Buy | 74K | $11.85 |
| 2025-04-01 | EcoR1 Capital, LLC | Buy | 49K | $11.60 |
| 2025-03-31 | EcoR1 Capital, LLC | Buy | 4.4K | $11.75 |
| 2025-03-26 | EcoR1 Capital, LLC | Buy | 44K | $12.24 |
| 2025-03-25 | EcoR1 Capital, LLC | Buy | 54K | $12.91 |
| 2025-03-24 | EcoR1 Capital, LLC | Buy | 23K | $13.08 |
| 2025-03-21 | EcoR1 Capital, LLC | Buy | 31K | $12.78 |
| 2025-03-20 | EcoR1 Capital, LLC | Buy | 73K | $12.93 |
| 2025-03-19 | EcoR1 Capital, LLC | Buy | 58K | $12.64 |
| 2025-03-18 | EcoR1 Capital, LLC | Buy | 114K | $12.65 |
| 2025-03-17 | EcoR1 Capital, LLC | Buy | 56K | $12.23 |
| 2025-03-13 | EcoR1 Capital, LLC | Buy | 468K | $12.48 |
| 2025-03-12 | EcoR1 Capital, LLC | Buy | 293K | $12.25 |
| 2025-03-11 | EcoR1 Capital, LLC | Buy | 321K | $11.49 |
| 2025-01-17 | EcoR1 Capital, LLC | Buy | 20K | $13.87 |
| 2025-01-16 | EcoR1 Capital, LLC | Buy | 122K | $13.88 |
| 2025-01-15 | EcoR1 Capital, LLC | Buy | 39K | $14.01 |
| 2025-01-14 | EcoR1 Capital, LLC | Buy | 54K | $13.56 |
| 2025-01-13 | EcoR1 Capital, LLC | Buy | 74K | $13.39 |
| 2025-01-10 | EcoR1 Capital, LLC | Buy | 204K | $13.13 |
| 2025-01-08 | EcoR1 Capital, LLC | Buy | 21K | $14.07 |
| 2025-01-06 | Moore Paul Andrew | Option exercise | 20K | — |
| 2025-01-06 | Moore Paul Andrew | Sell | 11K | $14.92 |
| 2025-01-06 | Galbraith Kenneth | Option exercise | 48K | — |
| 2025-01-06 | Galbraith Kenneth | Option exercise | 67K | — |
| 2025-01-06 | Galbraith Kenneth | Sell | 33K | $14.92 |
| 2025-01-06 | Smith Jeffrey T L | Option exercise | 20K | — |
| 2025-01-06 | Smith Jeffrey T L | Sell | 11K | $14.92 |
| 2025-01-06 | Galbraith Kenneth | Sell | 24K | $14.92 |
| 2025-01-06 | Moore Paul Andrew | Option exercise | 17K | — |
| 2025-01-06 | Moore Paul Andrew | Sell | 9.8K | $14.92 |
| 2025-01-02 | EcoR1 Capital, LLC | Buy | 158K | $14.78 |
| 2024-12-31 | EcoR1 Capital, LLC | Buy | 147K | $14.57 |
| 2024-12-30 | EcoR1 Capital, LLC | Buy | 59K | $14.47 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07164313 ↗ | A Study of ZW251 in Participants With Advanced Solid Tumors Hepatocellular Carcinoma, Squamous Cell Non-Small Cell Lung Cancer | PHASE1 | Recruiting | 2027-09-01 |
| NCT06555744 ↗ | A Study of ZW191 in Participants With Solid Tumors Advanced Solid Tumors | PHASE1 | Active Not Recruiting | 2026-12-01 |
| NCT06523803 ↗ | A Study of ZW171 in Participants With Advanced or Metastatic Mesothelin-expressing Cancers Mesothelin-expressing Advanced Cancers | PHASE1 | Terminated | 2025-09-30 |
| NCT03821233 ↗ | A Dose Finding Study of ZW49 in Patients With HER2-Positive Cancers HER2-expressing Cancers | PHASE1 | Completed | 2024-09-27 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-14 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-01 | Exec/director changeExhibits | filing ↗ |
| 2026-03-02 | Material agreementDebt obligationReg FDExhibits | filing ↗ |
| 2026-03-02 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-12 | ResultsExec/director changeOtherExhibits | filing ↗ |
| 2025-12-30 | Shareholder vote | filing ↗ |
| 2025-11-18 | Exec/director changeReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-14 | 2026-05-14 | 0001193125-26-224161 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001937653-26-000033 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001937653-26-000034 ↗ |
| 8-K | 2026-04-01 | 2026-03-31 | 0001193125-26-135610 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001937653-26-000015 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001937653-26-000013 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001193125-26-084082 ↗ |
| 8-K | 2026-01-12 | 2026-01-06 | 0001193125-26-010480 ↗ |
| 8-K | 2025-12-30 | 2025-12-30 | 0001193125-25-337268 ↗ |
| 8-K | 2025-11-18 | 2025-11-16 | 0001193125-25-285259 ↗ |
| 8-K | 2025-11-17 | 2025-11-17 | 0001193125-25-283873 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001937653-25-000077 ↗ |