Zymeworks Closes $929M Theravance Acquisition, Adds $350M Debt Financing
ZYME sits 73% above its 52-week low of $15.81.
Summary
Zymeworks closed its $929M acquisition of Theravance Biopharma, funded in part by a new $350M senior secured note at 8.25% interest. The deal adds YUPELRI commercial revenue and ampreloxetine royalty potential. Zymeworks guides 2026 total revenue to $278M-$292M and adjusted EBITDA to $114M-$128M.
Updated with a GlobeNewswire report · What changed
Updates
· GlobeNewswire — Zymeworks guides 2026 total revenue to $278M-$292M and adjusted EBITDA to $114M-$128M. Theravance shareholders received $17.00 per share in cash; financing included a $350M OMERS note and $217.5M of Zymeworks cash.
Key Events · M&A and Partnerships · ZYME
-
New · · GlobeNewswire
2026 Guidance Issued
Zymeworks guides 2026 total revenue to $278M-$292M and adjusted EBITDA to $114M-$128M.
-
Updated · · GlobeNewswire
Theravance Acquisition Closes
The $929M acquisition of Theravance Biopharma closed on September 23, 2026, adding YUPELRI (revefenacin) commercial revenue and ampreloxetine development rights to Zymeworks' portfolio. Theravance shareholders received $17.00 per share in cash.
-
Updated · · GlobeNewswire
$350M Debt Financing
Indirect subsidiaries issued $350M senior secured notes at 8.25% fixed interest, maturing December 31, 2036, to fund a portion of the acquisition consideration. Financing included a $350M OMERS note and $217.5M of Zymeworks cash.
-
CVR Terms Finalized
Theravance shareholders receive one CVR per share: $0.93 per CVR on first commercial sale of ampreloxetine, plus 80% of license proceeds and 10% of net sales royalties over 10 years.
-
Conference Call Scheduled
An investor conference call is scheduled for Monday, September 28 at 8:30 am ET to discuss final transaction details.
Analysis · ZYME · Life Sciences
The acquisition of Theravance Biopharma closed on September 23, 2026, bringing YUPELRI commercial revenue and ampreloxetine rights into the fold. A new $350 million senior secured note issuance at 8.25% interest, maturing in 2036, helped fund the deal—a significant debt obligation not previously disclosed. The CVR terms are now finalized: Theravance shareholders will receive $0.93 per CVR upon first commercial sale of ampreloxetine, plus 80% of license proceeds and 10% of net sales royalties. This transforms Zymeworks into a diversified revenue-generating biotech with commercial and royalty cash flows. Theravance shareholders received $17.00 per share in cash, and financing included a $350M OMERS note and $217.5M of Zymeworks cash. Zymeworks guides 2026 total revenue to $278M-$292M and adjusted EBITDA to $114M-$128M.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ZYME was trading at $27.32 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $15.81 to $31.34. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.