Zymeworks Shifts to Royalty-Driven Platform After Zanidatamab FDA Approval
Zymeworks is transitioning from a development-stage biotech to a royalty-driven, revenue-generating platform following zanidatamab’s FDA approval. Near-term upside depends on commercial execution, label expansions, and integrating durable cash-flow assets like YUPELRI from the pending Theravance acquisition. The valuation reflects expectations of a revenue and cash-flow step change alongside execution risk.