ZYME Zymeworks Inc.
FY2025 10-K
Zymeworks Inc. (ZYME) filed its fiscal year 2025 10-K annual report with the SEC on Mar 2, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: biotechnology company developing multifunctional antibody-based therapeutics for cancer, inflammation, and autoimmune diseases
- • New emphasis: commercial launch and milestone revenue focus on Ziihera (zanidatamab-hrii), approved in biliary tract cancer and pending broader regulatory approvals
Management Discussion & Analysis
- • Revenue $106.0M in 2025, up $29.7M (39%) YoY driven by milestone payments from J&J, BeOne, GSK, Daiichi Sankyo, and BMS
- • Operating expenses: R&D $137.0M (up 2% YoY), G&A $61.5M (flat YoY); R&D increased due to early-stage programs, zanidatamab R&D down 115% to $(1.8)M
Risk Factors
- • Regulatory risk: BIOSECURE Act may restrict U.S. government contracts to companies using equipment/services from certain Chinese biotech firms, affecting partnerships and operations
- • Geopolitical risk: Early-stage clinical supplies sourced from China exposed to ongoing U.S.-China trade tensions and tariffs, risking supply chain disruptions
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