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Canada's Zymeworks raises 2026 revenue and EBITDA guidance

By Reuters News


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


Reuters Recommended Reads

  • Nov 9 - Ionis Pharmaceuticals Q3 revenue rises 55%

  • Nov 9 - TG Therapeutics Q3 product revenue rises on BRIUMVI sales; lifts 2026 outlook

  • Nov 9 - Biopharma Almirall 9M sales rise on European dermatology growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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