aibioZymeworks authorizes $125.0 million share repurchase program, ends 2025 program
Tickers ZYME
The earlier program bought back shares at an average price of $24.36 for $102.3 million. Zymeworks had about 73.0 million common shares outstanding as of May 13, 2026.
Key facts
- Company
- Zymeworks Inc. (NASDAQ: ZYME)
- News type
- Financings
- Primary source
- Zymeworks Inc. 8-K (2026-05-14)
Zymeworks Inc. (Nasdaq: ZYME) said on May 14, 2026 that its board of directors has authorized a 2026 share repurchase program under which the company may buy back up to $125.0 million of its common stock. At the same time, the company ended its 2025 repurchase program. The release names no broker, dealer or adviser for the new program.
The 2025 program that ended
Under the 2025 program, Zymeworks repurchased 4,197,553 shares of common stock for $102.3 million, at an average purchase price of $24.36 per share. The release does not say when the purchases were made, how they were spread across the year, or whether any were still in progress when the program was terminated.
The company had approximately 73.0 million common shares outstanding as of May 13, 2026. The release gives no other share count and no current share price.
How the new program is funded
The company says the 2026 program will be funded through its "strong balance sheet," leveraging its financial capacity to repurchase shares. The release does not state a current cash figure to support that description.
The annual report on Form 10-K for 2025 gives the figures closest to the date of the release. It reports revenue of $106.0 million for 2025, against $76.3 million for 2024. It reports a net loss of $81.1 million for 2025, against $122.7 million for 2024. Cash used in operations was $33.0 million in 2025 and $110.1 million in 2024. Year-end 2024 cash and cash equivalents were $66.1 million.
The same report describes the company's strategy as supported by a strengthened financial foundation through expected milestone payments and royalties from existing commercial partners. It says the company keeps the flexibility to allocate capital to repurchases as its royalty portfolio matures and generates excess capital beyond the needs of its operations. Those expected payments are not quantified in the release, and the company reported a loss in both years covered by the 10-K.
The release describes Zymeworks as a biotechnology company managing a portfolio of licensed healthcare assets while developing a pipeline of biotherapeutics. It names Ziihera (zanidatamab-hrii) and pasritamig as licensed products and candidates in its asset and royalty aggregation strategy. It says BeOne Medicines Ltd., formerly BeiGene, Ltd., and Jazz Pharmaceuticals Ireland Limited hold exclusive rights to develop and commercialize zanidatamab in different territories.
What the chair said
Kenneth Galbraith, the company's chair and chief executive officer, said the authorization reflects a "continued focus on disciplined capital allocation and long-term value creation." He said the company believes the program is an efficient mechanism to return capital to stockholders while preserving the flexibility to invest in its R&D pipeline and pursue strategic opportunities. The release does not say how the company will balance the buyback against pipeline spending.
Terms and limits
Repurchases may be made from time to time in open market transactions or by other means, in accordance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act. The timing, number of shares repurchased and prices paid will depend on general business and market conditions, corporate and regulatory limitations, prevailing stock prices and other considerations.
The program may be suspended or discontinued at any time, and it does not obligate the company to acquire any amount of stock. The company is not obliged to buy any shares.
What the release leaves open
The release gives no timetable, no split between open market purchases and other means, and no estimate of how much of the $125.0 million the company expects to use in the coming year. It does not say whether the milestone and royalty income described in the 10-K has been received in 2026.
The authorization is a ceiling on spending, not a purchase. The 10-K shows the company reported a net loss in each of the two years it covers. The release's own risk language says Zymeworks may not be able to execute the repurchase program, that its anticipated benefits may not be realized and that its business strategy may not deliver meaningful stockholder returns.