Zymeworks raises 2026 guidance after $250M Ziihera milestone, posts Roche deal for ZW209

Zymeworks Inc. reported financial results for the quarter ended September 30, 2026 in a release dated November 9, 2026. The Company raised its 2026 financial guidance for total revenue to a range of $337 million to $351 million, up from a previous range of $278 million to $292 million, and adjusted EBITDA to a range of $176 million to $190 million, up from $114 million to $128 million, excluding the impact of any future transactions.¹ The company said this guidance is subject to expiration or termination of the HSR waiting period tied to the Roche collaboration, expected in the fourth quarter of 2026.¹

The quarter's revenue jump was tied to a single regulatory event. Total revenue was $256.5 million in the third quarter of 2026, compared with $27.6 million a year earlier, an increase the company attributed primarily to the $250.0 million milestone earned from Jazz following U.S. approval of Ziihera for first-line HER2-positive gastroesophageal adenocarcinoma in August 2026.¹ Theravance Biopharma, acquired September 23, 2026, contributed approximately $1.5 million of revenue during the quarter, reflecting seven days of ownership.¹

On the pipeline side, Zymeworks announced on October 23, 2026 an exclusive global collaboration and license agreement with Roche for ZW209, under which Zymeworks is eligible for a $55 million upfront payment, a $40 million payment upon initiation of the Phase 1b trial, up to $718 million in additional milestones, and tiered high single digit to mid-teens royalties.¹ ZW209 has FDA Investigational New Drug clearance, and the companies anticipate initiating a global Phase 1 study in 2026, with Roche funding the Phase 1a trial and responsible for subsequent development and commercialization.¹

On October 23, 2026, updated HERIZON-GEA-01 results presented at ESMO showed nearly 40% of patients alive at three years on Ziihera plus tislelizumab and chemotherapy, a median overall survival of 27 months, and a 24% reduction in death rate for Ziihera plus chemotherapy versus trastuzumab plus chemotherapy.¹

On November 7, 2026, partner Johnson & Johnson presented Phase 1 data on pasritamig combined with JNJ-9401 at SITC, reporting a 73% PSA50 response rate and undetectable PSA in 27% of patients at the recommended Phase 2 regimen.¹ Net income was $173.7 million for the quarter, compared with a net loss of $19.6 million a year earlier, driven primarily by the Ziihera milestone.¹ Zymeworks plans an R&D Day in New York on February 11, 2027.¹