Zymeworks Inc. (ZYME) Stock Analysis
Healthcare · Biotechnology
Sell if holding. Engine safety override at $22.49: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10 and A.R:R 6.5:1 is above the 1.5:1 BUY gate. Specifically: Elevated put/call ratio: 1.48; Below-average business quality; Negative price momentum.
Zymeworks is a clinical-stage biotechnology company with one commercially approved product, zanidatamab (Ziihera), licensed to Jazz Pharmaceuticals and BeOne for global commercialization in HER2+ cancers. Revenue is earned from royalties and milestone payments; in 2025, the... Read more
Sell if holding. Engine safety override at $22.49: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10 and A.R:R 6.5:1 is above the 1.5:1 BUY gate. Specifically: Elevated put/call ratio: 1.48; Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.2/10, moderate confidence.
Passes 5/7 gates (favorable risk/reward ratio, clean insider activity, earnings proximity 51d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: aggressive.
About Zymeworks Inc.
About Zymeworks Inc.
Zymeworks' only approved medicine, zanidatamab (Ziihera), has received regulatory clearance for HER2+ biliary tract cancer in the United States, China, Europe, and Canada, with Jazz Pharmaceuticals targeting an sBLA submission for first-line gastroesophageal adenocarcinoma in Q1 2026 under the FDA's real-time oncology review program. In 2025, the company earned $69.9 million in milestone payments, option exercise fees, and collaboration payments from partners including BMS, GSK, Daiichi Sankyo, J&J, and BeOne. Johnson & Johnson initiated multiple Phase 3 trials of pasritamig — a bispecific T cell engager built on the Azymetric platform — in castration-resistant prostate cancer in September 2025.
Zymeworks earns income through royalties and milestones rather than direct product sales. Under the Jazz Collaboration Agreement, tiered royalties range from 10% to high-teens percentage on zanidatamab net sales up to $2.0 billion and 20% above that threshold for markets outside certain Asian territories; the BeOne arrangement covers Asia (excluding Japan), Australia, and New Zealand at mid-single to mid-double digit percentages up to $1.0 billion and 19.5% above. In March 2026, the company sold 30% of future Ziihera royalties from the Jazz agreement to a special-purpose subsidiary, which borrowed $250 million from Royalty Pharma at a fixed rate maturing December 31, 2042, with total repayment of approximately $481.3 million unless repaid by December 31, 2033 ($412.5 million). Wholly-owned clinical programs include ZW191 (FRα-targeting ADC in Phase 1 for ovarian, endometrial, and NSCLC) and ZW251 (GPC3-targeting ADC in Phase 1 for hepatocellular carcinoma).
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The GEA regulatory pathway represents the largest identifiable near-term cash event: up to $250 million upon FDA approval of zanidatamab for first-line HER2+ GEA, with Jazz pursuing FDA submission under real-time oncology review in Q1 2026. An additional $100 million is contingent on EU approval, $75 million on Japan, and $15 million on China — totaling up to $440 million in regulatory milestones from GEA alone. The 10-K notes that Zymeworks depends on Jazz for all commercialization activities in major markets and that zanidatamab's commercial viability is largely beyond Zymeworks' control, making the regulatory and commercial trajectory of a single molecule the primary determinant of near-term financial outcomes.
See also: Healthcare · Biotechnology
From Zymeworks Inc.'s most recent 10-K filing, extracted June 16, 2026.
Recent developments
updated 2026-06-17Recent Developments — Zymeworks Inc.
Latest news
- NEWS Reported Sunday, Zymeworks Presents Phase 1 Data For ZW191 ADC Showing 78.6% cORR In FRα-Positive And 47.4% In FRα-Negat — benzinga Jun 15, 2026 positive
- NEWS HC Wainwright & Co. Reiterates Buy on Zymeworks, Maintains $46 Price Target — benzinga Jun 3, 2026 positive
- NEWS Zymeworks Announces $125M Buyback Plan — benzinga May 14, 2026 positive
- NEWS Wells Fargo Maintains Overweight on Zymeworks, Raises Price Target to $34 — benzinga May 8, 2026 positive
- NEWS Zymeworks Q1 EPS $(0.59) Down From $(0.30) YoY, Sales $2.408M Down From $27.110M YoY — benzinga May 7, 2026 negative
Generated 2026-06-17T09:12:26Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHcounterpartyJazz10-K Item 1A: 'We depend on Jazz to develop and commercialize zanidatamab in the territories covered by the Amended Jazz Collaboration Agreement'
- HIGHProductzanidatamab (Ziihera)10-K Item 1A: 'We have only one product approved for commercial sale...other than the receipt of royalties relating to sales of zanidatamab'
Material Events(8-K, last 90d)
- 2026-04-01Item 5.02LOWKristin Stafford, age 44, appointed EVP and CFO of Zymeworks effective April 1, 2026. Previously served as SVP, Chief Accounting Officer at Royalty Pharma since December 2018. No family relationships or material interests disclosed.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
4 floor-breakers·2 ceiling hits
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Unprofitable operations — net margin -126.3%. Quality floor flags this regardless of sector context.static
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $22.49: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.2/10 and A.R:R 6.5:1 is above the 1.5:1 BUY gate. Specifically: Elevated put/call ratio: 1.48; Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $21.48. Score 5.2/10, moderate confidence.
Take-profit target: $34.13 (+51.8% upside). Prior stop was $21.48. Stop-loss: $21.48.
Concentration risk — Counterparty: Jazz; Concentration risk — Product: zanidatamab (Ziihera); Quality below floor (2.2 < 4.0).
Zymeworks Inc. trades at a P/E of N/A (forward 34.0). TrendMatrix value score: 4.4/10. Verdict: Sell.
20 analysts cover ZYME with a consensus score of 4.3/5. Average price target: $39.
What does Zymeworks Inc. do?Zymeworks is a clinical-stage biotechnology company with one commercially approved product, zanidatamab (Ziihera),...
Zymeworks is a clinical-stage biotechnology company with one commercially approved product, zanidatamab (Ziihera), licensed to Jazz Pharmaceuticals and BeOne for global commercialization in HER2+ cancers. Revenue is earned from royalties and milestone payments; in 2025, the company received $69.9 million in milestones and fees from partners including BMS, GSK, Daiichi Sankyo, J&J, and BeOne. The wholly-owned pipeline includes two Phase 1 ADCs and earlier-stage multispecific programs.