Zymeworks Inc. reported its financial results for the second quarter ended June 30, 2025, on August 7, 2025, announcing a net income of $2.3 million. This marks a significant turnaround from a net loss of $37.7 million in the same period of 2024. Total revenue for Q2 2025 surged to $48.7 million, a 153.2% increase from $19.2 million in Q2 2024.
The robust revenue growth was primarily driven by a $20 million milestone payment from BeOne Medicines Ltd. following the conditional NMPA approval of zanidatamab in China, along with $18.3 million in recognized deferred revenue related to this milestone. Additionally, Zymeworks recognized a $7.5 million option exercise payment from Bristol-Myers Squibb and $0.6 million in royalty revenues from Jazz Pharmaceuticals and BeOne.
As of June 30, 2025, Zymeworks maintained a strong liquidity position with $333.4 million in cash, cash equivalents, and marketable securities, projecting a cash runway into the second half of 2027. The company also announced that the European Commission granted conditional marketing authorization for Ziihera in July 2025, further expanding its global commercial potential and expected future royalties. Zymeworks is evolving its business strategy to anchor future growth around anticipated royalty and milestone streams from Ziihera as a predictable, long-term funding source for R&D.
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