BuybackMay 14, 2026, 04:33 PM
Zymeworks Authorizes $125M Share Buyback Program
AI Summary
Zymeworks Inc. announced that its Board of Directors authorized a new 2026 share repurchase program for up to $125.0 million of its common stock, concurrently terminating the previous 2025 program. Under the terminated program, the company repurchased 4,197,553 shares for $102.3 million at an average price of $24.36 per share. The company also expects its existing cash resources as of March 31, 2026, combined with $440.0 million in anticipated regulatory milestone payments for Ziihera, to fund planned operations beyond 2028, assuming full execution of the new buyback.
Key Highlights
- Zymeworks authorized a new 2026 share repurchase program for up to $125.0 million of its common stock.
- The previous 2025 repurchase program was terminated.
- Under the 2025 program, 4,197,553 shares were repurchased for $102.3 million.
- The average repurchase price under the 2025 program was $24.36 per share.
- Existing cash resources as of March 31, 2026, combined with $440.0 million in anticipated regulatory milestone payments, are expected to fund operations beyond 2028.
- Approximately 73.0 million common shares were outstanding as of May 13, 2026.