Zymeworks Guides 2026 Revenue to $278M-$292M After Closing $929M Theravance Deal
ZYME sits 68% above its 52-week low of $15.81.
Summary
Zymeworks closed its $929M acquisition of Theravance Biopharma and issued first post-deal guidance: 2026 revenue of $278M-$292M and Adjusted EBITDA of $114M-$128M. The deal adds YUPELRI, which generated $133.1M in H1 sales and $38.4M in collaboration revenue, with 25% hospital sales growth in Q2. Financing includes a $350M non-recourse OMERS note and $217.5M of cash, with a potential $100M TRELEGY milestone expected in Q1 2027. The company also disclosed $2.5B in Irish tax attributes and updated its buyback: $49.3M spent of the $125M program. This follows the FDA approval of Ziihera in August, which triggered a $250M milestone from Jazz. The guidance and cash flow visibility mark a shift toward a royalty-aggregation model, but the stock's reaction will hinge on whether the market believes the EBITDA target is achievable given integration costs.
At the time of this announcement, ZYME was trading at $26.52 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $15.81 to $31.34. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.