Zymeworks Q4 Net Loss Widens, Revenue Falls; Enters $250 Million Financing Agreement with Royalty Pharma

MT Newswires Live03-02

Zymeworks (ZYME) reported a Q4 net loss Monday of $0.55 per diluted share, widening from a loss of $0.31 a year earlier.

Analysts polled by FactSet expected a loss of $0.46.

Revenue for the quarter ended Dec. 31 was $2.5 million, compared with $31 million a year earlier.

Analysts surveyed by FactSet expected $19.2 million.

As of Dec. 31, the company said it had $270.6 million in cash, cash equivalents and marketable securities, which it expects to fund operations beyond 2028.

Additionally, Royalty Pharma (RPRX) and Zymeworks (ZYME) said Monday the companies have entered into a $250 million non-recourse royalty-backed note financing, with repayments tied to 30% of Zymeworks' worldwide tiered royalties on Ziihera.

Under the agreement, Zymeworks will retain 70% of royalties from Ziihera sales during the repayment period, with full royalty rights reverting to the company once Royalty Pharma receives agreed cumulative payments, the companies said.

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