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Zymeworks ZYME Research Milestone — Research and development collaborations (note 11)

Other product segments

Recognition of deferred revenue
$0—

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Other financials

Income statement

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Revenue$2.4M-91.1%
Operating income-$47.1M-84.0%
Net income-$44.2M-95.1%
EPS (diluted)-$0.59-96.7%

Balance sheet

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Cash & equivalents$244.3M+221%
Total debt$17.0M-7.7%
Total equity$163.6M-49.7%
Total assets$478.2M+12.4%

Cash flow

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Operating cash flow-$45.7M-1,242%
CapEx$216.0K+1,250%
Free cash flow-$45.9M-1,242%

Valuation

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Market cap$1.76B+125%
Enterprise value$1.53B+112%
P/S21.6×+13.2×

Profitability

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Operating margin-140.4%+7.3pp
Net margin-126.3%+5.0pp
FCF margin-94.8%+15.5pp

Returns & leverage

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Return on equity-42%+29.2pp
Debt / equity0.1×0.0×
Current ratio10.8×+6.1×

Where this comes from

Reported directly by Zymeworks in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Zymeworks’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Zymeworks's research milestone — research and development collaborations (note 11)?
Zymeworks (ZYME) reported research milestone — research and development collaborations (note 11) of $8.75M in Q4 2025.
What does research milestone — research and development collaborations (note 11) mean?
This metric represents revenue recognized from research and development collaboration agreements, including milestone payments, upfront fees, and research funding. It reflects the company's ability to monetize its proprietary technology platforms and drug discovery engine through strategic partnerships with other biopharmaceutical entities. This revenue stream is a critical indicator of the commercial validation of the company's research capabilities and its success in advancing pipeline assets through collaborative development.