Zymeworks SEC Filings

Zymeworks Inc. reported that EVP and Chief Financial Officer Kristin Stafford received new equity compensation awards. She was granted stock options for 178,000 shares of common stock at an exercise price of $25.84 per share, expiring on April 5, 2036. These options vest 25% on the first anniversary of the grant date, with the remaining 75% vesting in 36 equal monthly installments thereafter.

Stafford also received two restricted stock unit grants. One award covers 119,000 RSUs, vesting in four equal annual installments beginning on the first anniversary of the grant date. The other covers 50,000 RSUs, vesting in three equal annual installments starting on the first anniversary. Each RSU converts into one share of common stock upon vesting, and the filing shows no open-market purchases or sales.

Zymeworks Inc. executive vice president and chief financial officer Kristin Stafford filed an initial Form 3 indicating she currently has no securities beneficially owned in the company. The filing lists both common and derivative securities as having zero shares, reflecting no direct reportable ownership as of the reported date.

Zymeworks Inc. appointed Kristin Stafford, age 44, as Executive Vice President and Chief Financial Officer, effective April 1, 2026. She becomes the company’s principal financial and principal accounting officer. Stafford previously held senior finance and accounting roles at Royalty Pharma, BioPharma Credit, Ernst & Young, iHeartMedia, and Deloitte and serves on Novocure’s board.

She entered into an employment agreement with Zymeworks Biopharmaceuticals Inc. with no fixed term, including change-in-control "parachute" protections structured to avoid excise tax without any tax gross-up from the company. Kenneth Galbraith ceased serving as interim CFO on the start date but continues as Chair, President, and Chief Executive Officer.

Zymeworks Inc. insider transactions were reported: director/officer Jeffrey T. L. Smith disclosed open-market dispositions and planned sales of common stock. The filing shows two sales: 10,538 shares on 01/05/2026 for $264,471.13 and 9,310 shares on 01/12/2026 for $211,090.28. The filing also lists securities to be sold on 03/06/2026 tied to an exercise of options (220,625 shares) and multiple upcoming restricted stock unit vestings (9,462; 8,356; 8,890 shares) on 01/05/2026 and 01/12/2026 described as compensation-related transactions.

Zymeworks Inc. has entered into a $250 million non-recourse royalty-backed note financing with Royalty Pharma, using 30% of future worldwide tiered royalties on Ziihera (zanidatamab-hrii) from Jazz and BeOne as repayment collateral. The funding is structured through a special-purpose subsidiary that sold a 30% royalty interest and simultaneously borrowed $250 million under a term loan maturing on December 31, 2042.

The total amount payable under the loan is about $412.5 million if fully repaid on or before December 31, 2033, or approximately $481.3 million if repaid by final maturity, inclusive of interest, premiums, fees and other amounts. Zymeworks will retain 70% of Ziihera royalties during the repayment period, with full royalty rights reverting once Royalty Pharma’s capped return is reached, and it keeps all regulatory and commercial milestone payments, including up to $1.5 billion in potential remaining milestones tied to approvals and sales.

The loan is secured only by the subsidiary’s royalty assets and related equity interests, and Royalty Pharma has no recourse to other Zymeworks or Zymeworks BC assets under the agreement. The arrangements include customary covenants, restrictions on modifying key collaboration agreements for Ziihera, and events of default tied to termination of those agreements or a change of control of the company.

Zymeworks Inc. has entered into a $250 million non-recourse royalty-backed note financing with Royalty Pharma, using 30% of future worldwide tiered royalties on Ziihera (zanidatamab-hrii) from Jazz and BeOne as repayment collateral. The funding is structured through a special-purpose subsidiary that sold a 30% royalty interest and simultaneously borrowed $250 million under a term loan maturing on December 31, 2042.

The total amount payable under the loan is about $412.5 million if fully repaid on or before December 31, 2033, or approximately $481.3 million if repaid by final maturity, inclusive of interest, premiums, fees and other amounts. Zymeworks will retain 70% of Ziihera royalties during the repayment period, with full royalty rights reverting once Royalty Pharma’s capped return is reached, and it keeps all regulatory and commercial milestone payments, including up to $1.5 billion in potential remaining milestones tied to approvals and sales.

The loan is secured only by the subsidiary’s royalty assets and related equity interests, and Royalty Pharma has no recourse to other Zymeworks or Zymeworks BC assets under the agreement. The arrangements include customary covenants, restrictions on modifying key collaboration agreements for Ziihera, and events of default tied to termination of those agreements or a change of control of the company.

Zymeworks Inc. is a biotechnology company focused on royalty-driven asset aggregation and development of multifunctional biologics for cancer, inflammation, and autoimmune disease. Its strategy combines royalty growth, selective acquisitions, internal R&D and potential stock repurchases, supported by milestone and royalty streams from major partners.

Lead asset Ziihera (zanidatamab-hrii), a HER2-targeted bispecific antibody, has approvals for HER2-positive biliary tract cancer in the United States, China, Europe and Canada, with Jazz and BeOne holding territorial rights. Zymeworks has already received $53.0 million tied to BTC approval and is entitled to up to $440.0 million in near-term GEA approval milestones across the U.S., EU, Japan and China, plus $89.0 million for a third indication and tiered royalties up to 20% on substantial global sales tiers.

To monetize part of this stream, a subsidiary sold 30% of future Ziihera royalties under certain Jazz and BeOne agreements and borrowed $250.0 million from Royalty Pharma, with total repayment capped at approximately $481.3 million by December 31, 2042, or $412.5 million if repaid by December 31, 2033. Zymeworks retains 70% of Ziihera royalties and all milestones.

The company also highlights pasritamig, a KLK2-targeting T cell engager from a Johnson & Johnson collaboration now in multiple Phase 3 trials in castration-resistant prostate cancer, and an expanding wholly owned pipeline of ADCs (ZW191, ZW251, ZW220) and multispecific antibodies (ZW209, ZW1528) built on proprietary Azymetric, TOPO1i, EFECT and ProTECT platforms. As of February 26, 2026, Zymeworks had 73,749,607 common shares outstanding, and reported a non‑affiliate market value of approximately $649.5 million based on its most recent second fiscal quarter.

Zymeworks Inc. is a biotechnology company focused on royalty-driven asset aggregation and development of multifunctional biologics for cancer, inflammation, and autoimmune disease. Its strategy combines royalty growth, selective acquisitions, internal R&D and potential stock repurchases, supported by milestone and royalty streams from major partners.

Lead asset Ziihera (zanidatamab-hrii), a HER2-targeted bispecific antibody, has approvals for HER2-positive biliary tract cancer in the United States, China, Europe and Canada, with Jazz and BeOne holding territorial rights. Zymeworks has already received $53.0 million tied to BTC approval and is entitled to up to $440.0 million in near-term GEA approval milestones across the U.S., EU, Japan and China, plus $89.0 million for a third indication and tiered royalties up to 20% on substantial global sales tiers.

To monetize part of this stream, a subsidiary sold 30% of future Ziihera royalties under certain Jazz and BeOne agreements and borrowed $250.0 million from Royalty Pharma, with total repayment capped at approximately $481.3 million by December 31, 2042, or $412.5 million if repaid by December 31, 2033. Zymeworks retains 70% of Ziihera royalties and all milestones.

The company also highlights pasritamig, a KLK2-targeting T cell engager from a Johnson & Johnson collaboration now in multiple Phase 3 trials in castration-resistant prostate cancer, and an expanding wholly owned pipeline of ADCs (ZW191, ZW251, ZW220) and multispecific antibodies (ZW209, ZW1528) built on proprietary Azymetric, TOPO1i, EFECT and ProTECT platforms. As of February 26, 2026, Zymeworks had 73,749,607 common shares outstanding, and reported a non‑affiliate market value of approximately $649.5 million based on its most recent second fiscal quarter.

Zymeworks Inc. reported 2025 total revenue of $106.0 million, up 39% from 2024, and reduced its annual net loss by 34% to $81.1 million. Fourth-quarter revenue was $2.5 million with a net loss of $41.2 million.

The company ended 2025 with $270.6 million in cash, cash equivalents and marketable securities and has a new $250.0 million royalty-backed note from Royalty Pharma to support share repurchases, potential acquisitions and cash runway beyond 2028. Zymeworks has used $62.5 million of its current $125.0 million buyback authorization.

Management expects 2026 adjusted gross operating expenses to be about 20% lower than 2025’s $170.5 million (non-GAAP) and outlined multiple partnered milestones, including up to $440.0 million in potential regulatory milestones for Ziihera in gastroesophageal adenocarcinoma across major markets.

Zymeworks Inc. reported 2025 total revenue of $106.0 million, up 39% from 2024, and reduced its annual net loss by 34% to $81.1 million. Fourth-quarter revenue was $2.5 million with a net loss of $41.2 million.

The company ended 2025 with $270.6 million in cash, cash equivalents and marketable securities and has a new $250.0 million royalty-backed note from Royalty Pharma to support share repurchases, potential acquisitions and cash runway beyond 2028. Zymeworks has used $62.5 million of its current $125.0 million buyback authorization.

Management expects 2026 adjusted gross operating expenses to be about 20% lower than 2025’s $170.5 million (non-GAAP) and outlined multiple partnered milestones, including up to $440.0 million in potential regulatory milestones for Ziihera in gastroesophageal adenocarcinoma across major markets.

Zymeworks filed a Form 144 reporting a proposed sale of 31,641 shares of common stock on 02/17/2026, tied to the exercise of options and an exercise-and-sell-to-cover transaction.

The excerpt also lists prior sales by Leone Patterson of 6,832 shares on 01/12/2026 for $154,905.35 and 117,255 shares on 02/13/2026 for $2,706,749.60.

Zymeworks Inc. insider plans to sell up to 128,548 shares of common stock through Morgan Stanley Smith Barney on or about 02/13/2026 on Nasdaq, with an aggregate market value of $2,978,457.16. These shares relate mainly to an option exercise for 117,255 shares, vesting of 10,834 restricted stock units, and purchase of 459 shares under an employee stock purchase plan, all acquired in early 2026. Shares of common stock outstanding were 74,836,534 as of the time referenced, which serves as a baseline figure for the company’s capital structure.