Canada's Zymeworks raises 2026 revenue and EBITDA guidance
Overview
Canada biotechnology firm's Q3 revenue surged yr/yr, driven by $250 mln milestone from Jazz
Company posted net income in Q3, reversing a loss in prior year period
Company raised 2026 revenue and adjusted EBITDA guidance
Outlook
Zymeworks raises 2026 revenue guidance to $337 mln-$351 mln from $278 mln-$292 mln
Company now sees 2026 adjusted EBITDA of $176 mln-$190 mln, up from $114 mln-$128 mln
Company expects $13 mln-$15 mln in annualized cost savings from Theravance Biopharma acquisition
Result Drivers
MILESTONE PAYMENT - $250 mln milestone from Jazz after U.S. approval of Ziihera for first-line HER2-positive GEA drove revenue increase
THERAVANCE ACQUISITION - Limited Q3 revenue contribution from Theravance Biopharma, reflecting seven days of ownership post-acquisition
YUPELRI SALES - YUPELRI collaboration revenue rose 4% YoY, with hospital channel doses growing at a double-digit rate
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Expenses | $78.86 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Zymeworks Inc. is $38.50, about 29.9% above its November 6 closing price of $29.63
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 25 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)