Zymeworks

ZYME

Biotechnology · Healthcare

Price

$24.19

+0.00 (+0.00%)

Market Cap

$1.78B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+44.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 52.1M (2021) → 75.3M (2025)

Zymeworks Inc., a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company's lead product candidates include zanidatamab, a novel bispecific antibody that is in Phase 1 and Phase 2 clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and colorectal cancer; and ZW49, a biparatopic anti-human epidermal growth factor receptor 2 (HER2) antibody-drug conjugate that is in Phase 1

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-91.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-96.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$137M/ year

→ Flat (+2% vs prior year)

129.3% of revenue

7.2x the sector average (18%)

Steady R&D investment year-over-year

Insider Activity

7.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~16 months

$244.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

Zymeworks's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-18.2%

Thin — -18.2% gross margin

Operating Margin

-1956.7%

Losing money on operations — -1956.7%

ROCE

-0.0%

Weak — -0.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-13.0%

Shrinking sales (-13.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-56297.9%

Burning cash (-56297.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.10

Conservative — low debt load (0.10)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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