Zymeworks Inc(NASDAQ:ZYME) 
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 ...
Website: http://www.zymeworks.com
Founded: 2003
Full Time Employees: 325
Sector: Healthcare
Industry: Biotechnology
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | |||||||||||||
yoy | |||||||||||||
qoq | |||||||||||||
research and development collaborations | 27,614,000 | 48,726,000 | 27,110,000 | 31,031,000 | 16,000,000 | 19,243,000 | 10,030,000 | 16,926,000 | 16,506,000 | 7,002,000 | 35,578,000 | 402,493,000 | 2,631,000 |
operating expenses: | |||||||||||||
research and development | 35,578,000 | 34,449,000 | 35,738,000 | 37,063,000 | 36,353,000 | 29,163,000 | 32,042,000 | 25,524,000 | 32,775,000 | 39,408,000 | 45,912,000 | 52,967,000 | 37,097,000 |
general and administrative | 14,146,000 | 14,951,000 | 16,985,000 | 16,185,000 | 13,852,000 | 15,679,000 | 15,790,000 | 14,823,000 | 16,968,000 | 21,708,000 | 16,947,000 | 30,131,000 | 15,892,000 |
impairment on acquired ipr&d | |||||||||||||
total operating expenses | 49,724,000 | 49,400,000 | 52,723,000 | 53,248,000 | 50,205,000 | 62,129,000 | 47,832,000 | 40,347,000 | 49,743,000 | 61,116,000 | 62,859,000 | 83,098,000 | 52,989,000 |
income from operations | -22,110,000 | -674,000 | -25,613,000 | -22,217,000 | -34,205,000 | -42,886,000 | -37,802,000 | -23,421,000 | -33,237,000 | -54,114,000 | -27,281,000 | 319,395,000 | -50,358,000 |
yoy | -35.36% | -98.43% | -32.24% | -5.14% | 2.91% | -20.75% | 38.57% | -107.33% | -34.00% | ||||
qoq | 3180.42% | -97.37% | 15.29% | -35.05% | -20.24% | 13.45% | 61.40% | -29.53% | -38.58% | 98.36% | -108.54% | -734.25% | |
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% |
other income: | |||||||||||||
interest income | 3,529,000 | 3,426,000 | 3,424,000 | 4,082,000 | 4,785,000 | 5,154,000 | 5,920,000 | 5,049,000 | 5,026,000 | 4,825,000 | 4,805,000 | 1,733,000 | 1,125,000 |
other income | 315,000 | -621,000 | 49,000 | 344,000 | -204,000 | 114,000 | 304,000 | -832,000 | 634,000 | -209,000 | -692,000 | 1,358,000 | |
total other income | 3,844,000 | 2,805,000 | 3,473,000 | 4,426,000 | 4,581,000 | 5,268,000 | 6,224,000 | 4,217,000 | 5,660,000 | 4,616,000 | 4,318,000 | 1,041,000 | 2,483,000 |
income before income taxes | -18,266,000 | 2,131,000 | -22,140,000 | -17,791,000 | -29,624,000 | -37,618,000 | -31,578,000 | -19,204,000 | -27,577,000 | -49,498,000 | -22,963,000 | 320,436,000 | -47,875,000 |
income tax expense | -1,336,000 | -496,000 | -92,250 | -226,000 | -68,000 | -75,000 | |||||||
net income | -19,602,000 | 2,317,000 | -22,636,000 | -23,506,000 | -29,850,000 | -37,686,000 | -31,653,000 | -14,482,000 | -28,687,000 | -51,152,000 | -24,353,000 | -18,156,250 | |
yoy | -34.33% | -106.15% | -28.49% | 62.31% | 4.05% | -26.33% | 29.98% | -20.24% | NaN% | ||||
qoq | -946.01% | -110.24% | -3.70% | -21.25% | -20.79% | 19.06% | 118.57% | -49.52% | -43.92% | 110.04% | 34.13% | NaN% | |
net income margin % | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% |
other comprehensive income: | |||||||||||||
unrealized income on available for sale securities, net of tax of nil | 290,000 | 66,000 | 546,000 | -953,000 | 1,905,000 | -1,121,000 | |||||||
total other comprehensive income | 290,000 | 66,000 | 546,000 | -953,000 | 1,905,000 | -1,121,000 | 720,000 | ||||||
comprehensive loss | -19,312,000 | -22,090,000 | -24,646,250 | -27,945,000 | -37,866,000 | -32,774,000 | -26,457,750 | -29,172,000 | -53,026,000 | -23,633,000 | |||
net income per common share | |||||||||||||
basic | -260 | -300 | -320 | -390 | |||||||||
diluted | -260 | -300 | -320 | -390 | |||||||||
weighted-average common stock outstanding | |||||||||||||
basic | 75,767,778,000 | 75,337,168,000 | 75,171,020,000 | 75,846,681,000 | 76,128,531,000 | 76,392,593,000 | 76,214,833,000 | 68,863,010,000 | 70,575,773,000 | 67,281,028,000 | 66,739,308,000 | 65,194,775,000 | 66,477,016,000 |
diluted | 75,775,214,000 | 77,378,449,000 | 75,226,387,000 | 75,878,738,000 | 76,157,101,000 | 76,396,217,000 | 76,248,158,000 | 68,863,010,000 | 70,575,773,000 | 67,284,511,000 | 66,742,080,000 | 65,249,184,000 | 66,478,157,000 |
income tax recovery | 186,000 | -11,005,000 | 29,000 | ||||||||||
comprehensive income | 2,383,000 | ||||||||||||
net earnings per common share | |||||||||||||
basic | 30 | ||||||||||||
diluted | 30 | ||||||||||||
impairment on acquired in-process research and development assets | 4,321,750 | 17,287,000 | |||||||||||
other comprehensive loss: | |||||||||||||
unrealized loss on available for sale securities, net of tax of nil | -180,000 | -409,750 | -485,000 | -1,874,000 | |||||||||
total other comprehensive loss | -180,000 | -409,750 | -485,000 | -1,874,000 | |||||||||
net loss per common share | |||||||||||||
basic | -490 | -420 | -382.5 | -410 | -760 | -360 | -715 | -720 | |||||
diluted | -490 | -420 | -382.5 | -410 | -760 | -370 | -715 | -720 | |||||
balance at january 1, 2024 | 1,000 | 1,000 | |||||||||||
issuance of common stock on exercise of options | |||||||||||||
issuance of common stock through employee stock purchase plan | |||||||||||||
issuance of common stock upon vesting of restricted stock units | |||||||||||||
issuance of common stock for retracted exchangeable shares | -191,911,250 | ||||||||||||
stock-based compensation | |||||||||||||
other comprehensive loss | |||||||||||||
balance at march 31, 2024 | 1,000 | 1,000 | |||||||||||
balance at june 30, 2024 | 1,000 | ||||||||||||
income tax (expense) recovery | -1,038,500 | -1,110,000 | -1,654,000 | -1,390,000 | |||||||||
balance at january 1, 2023 | 356,133,250 | 1,000 | 1,000 | 1,000 | |||||||||
other comprehensive income | |||||||||||||
balance at march 31, 2023 | 164,222,000 | 1,000 | 1,000 | 1,000 | |||||||||
issuance of common stock upon vesting of rsus | |||||||||||||
issuance of common stock in connection with at-the-market | |||||||||||||
balance at june 30, 2023 | 162,847,000 | 1,000 | 1,000 | ||||||||||
balance at september 30, 2023 | 162,804,750 | 1,000 | |||||||||||
other expense | -487,000 | ||||||||||||
unrealized gain on available for sale securities, net of tax of nil | 720,000 | ||||||||||||
net loss and comprehensive loss | -46,272,500 | -47,846,000 | |||||||||||
weighted-average common shares outstanding | |||||||||||||
basic | 75,767,778,000 | 75,337,168,000 | 75,171,020,000 | 75,846,681,000 | 76,128,531,000 | 76,392,593,000 | 76,214,833,000 | 68,863,010,000 | 70,575,773,000 | 67,281,028,000 | 66,739,308,000 | 65,194,775,000 | 66,477,016,000 |
diluted | 75,775,214,000 | 77,378,449,000 | 75,226,387,000 | 75,878,738,000 | 76,157,101,000 | 76,396,217,000 | 76,248,158,000 | 68,863,010,000 | 70,575,773,000 | 67,284,511,000 | 66,742,080,000 | 65,249,184,000 | 66,478,157,000 |
balance at january 1, 2022 | -170,776,000 | 46,633,935,000 | |||||||||||
issuance of common shares on exercise of options | 2,112,000 | ||||||||||||
issuance of common shares through employee stock purchase plan | 61,801,000 | ||||||||||||
issuance of common shares upon vesting of restricted stock units | 37,398,000 | ||||||||||||
issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs | 11,035,000,000 | ||||||||||||
balance at march 31, 2022 | -188,932,250 | 57,770,246,000 | |||||||||||
issuance of common shares upon vesting of rsus | 958,000 | ||||||||||||
stock-based compensation expense | |||||||||||||
balance at june 30, 2022 | -205,087,000 | 57,772,461,000 | |||||||||||
issuance of common shares upon exercise of pre-funded warrants | 3,787,675,000 | ||||||||||||
balance at september 30, 2022 | -217,048,500 | 61,694,387,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||
current assets: | |||||||||||||||
cash and cash equivalents | 244,282,000 | 41,157,000 | 64,834,000 | 98,253,000 | 76,204,000 | 66,103,000 | 122,356,000 | 70,963,000 | 114,814,000 | 157,557,000 | 94,332,000 | 142,100,000 | 181,583,000 | 400,912,000 | 96,082,000 |
short-term marketable securities | 120,445,000 | 187,640,000 | 187,099,000 | 183,126,000 | 189,083,000 | 159,673,000 | 174,844,000 | 259,183,000 | 230,233,000 | ||||||
accounts receivable | 4,674,000 | 4,638,000 | 29,352,000 | 2,631,000 | 24,594,000 | 55,815,000 | 23,704,000 | 32,081,000 | 30,949,000 | 19,477,000 | 67,273,000 | 48,819,000 | 66,916,000 | 33,400,000 | 6,728,000 |
prepaid expenses and other current assets | 16,279,000 | 15,332,000 | 10,427,000 | 12,120,000 | 16,586,000 | 18,860,000 | 22,865,000 | 21,268,000 | 17,824,000 | 19,122,000 | 11,955,000 | 31,428,000 | 18,665,000 | 19,074,000 | 17,686,000 |
total current assets | 385,680,000 | 248,767,000 | 291,712,000 | 296,130,000 | 306,467,000 | 300,451,000 | 343,769,000 | 383,495,000 | 393,820,000 | 412,926,000 | 374,634,000 | 420,336,000 | 426,372,000 | 544,706,000 | 190,656,000 |
long-term marketable securities | 39,116,000 | 41,787,000 | 47,427,000 | 51,996,000 | 56,324,000 | 98,428,000 | 77,667,000 | 65,794,000 | 75,446,000 | ||||||
long-term prepaids and other assets | 6,652,000 | 6,674,000 | 7,388,000 | 8,855,000 | 9,096,000 | 8,919,000 | 7,228,000 | 7,181,000 | 7,676,000 | ||||||
deferred tax asset | 4,707,000 | 4,707,000 | 4,862,000 | 4,769,000 | 4,849,000 | 4,385,000 | 4,206,000 | 3,945,000 | 3,704,000 | 3,615,000 | 1,315,000 | 1,359,000 | 1,405,000 | 1,345,000 | 3,028,000 |
property and equipment | 14,854,000 | 15,502,000 | 15,819,000 | 16,314,000 | 16,685,000 | 17,650,000 | 18,333,000 | 18,470,000 | 18,972,000 | 19,847,000 | 20,904,000 | 22,375,000 | 23,514,000 | 24,713,000 | 25,717,000 |
operating lease right-of-use assets | 14,016,000 | 15,724,000 | 16,648,000 | 16,260,000 | 16,723,000 | 16,666,000 | 17,355,000 | 17,279,000 | 17,067,000 | 17,696,000 | 17,857,000 | 20,796,000 | 22,300,000 | 22,937,000 | 23,564,000 |
intangible assets | 1,174,000 | 1,350,000 | 1,397,000 | 2,045,000 | 3,362,000 | 4,576,000 | 6,407,000 | 7,113,000 | 7,423,000 | 7,656,000 | 8,003,000 | 7,397,000 | 8,075,000 | 8,755,000 | 9,021,000 |
goodwill | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 | 12,016,000 |
total assets | 478,215,000 | 346,527,000 | 397,269,000 | 408,385,000 | 425,522,000 | 463,091,000 | 487,152,000 | 515,634,000 | 553,752,000 | 580,880,000 | 556,366,000 | 602,054,000 | 600,743,000 | 648,725,000 | 300,263,000 |
liabilities and stockholders’ equity | |||||||||||||||
current liabilities: | |||||||||||||||
accounts payable and accrued liabilities | 30,226,000 | 36,346,000 | 34,430,000 | 31,003,000 | 38,223,000 | 59,838,000 | 51,707,000 | 44,420,000 | 47,434,000 | 45,032,000 | 67,789,000 | 69,919,000 | 59,250,000 | 87,468,000 | 52,271,000 |
income tax payable | 66,000 | 83,000 | 1,016,000 | 102,000 | 127,000 | 128,000 | 2,071,000 | 1,934,000 | 1,861,000 | 1,811,000 | 831,000 | 1,158,000 | 840,000 | 840,000 | |
current portion of operating lease liability | 3,279,000 | 3,471,000 | 3,400,000 | 3,586,000 | 3,258,000 | 2,740,000 | 2,943,000 | 2,839,000 | 4,155,000 | 4,261,000 | 3,841,000 | 3,645,000 | 3,372,000 | 3,322,000 | 4,605,000 |
deferred revenue | 2,078,000 | 14,606,000 | 3,197,000 | 3,811,000 | 23,495,000 | 14,607,000 | 27,188,000 | 5,520,000 | 3,440,000 | 32,941,000 | 32,941,000 | 30,588,000 | 2,353,000 | 2,353,000 | 32,941,000 |
total current liabilities | 35,649,000 | 42,318,000 | 42,043,000 | 38,502,000 | 65,103,000 | 88,294,000 | 83,909,000 | 54,713,000 | 56,890,000 | 55,763,000 | 72,847,000 | 93,546,000 | 67,319,000 | 95,625,000 | 57,706,000 |
long-term portion of operating lease liability | 13,763,000 | 14,796,000 | 15,504,000 | 15,092,000 | 15,174,000 | 15,738,000 | 17,274,000 | 17,192,000 | 20,977,000 | 22,369,000 | 22,408,000 | 23,488,000 | 23,847,000 | 24,667,000 | 25,334,000 |
liability related to sale of future royalties | 246,503,000 | ||||||||||||||
other long-term liabilities | 278,000 | 278,000 | 278,000 | 828,000 | 856,000 | 923,000 | 929,000 | 1,229,000 | 1,594,000 | 1,701,000 | 1,858,000 | 3,597,000 | 3,595,000 | 3,101,000 | 2,934,000 |
deferred tax liability | 3,827,000 | 6,028,000 | 4,773,000 | 4,850,000 | 4,815,000 | 4,761,000 | 3,455,000 | 3,398,000 | 3,351,000 | 3,300,000 | 1,968,000 | 1,916,000 | 1,856,000 | 1,788,000 | 1,590,000 |
total liabilities | 314,626,000 | 78,026,000 | 77,205,000 | 73,879,000 | 100,555,000 | 124,323,000 | 120,174,000 | 109,473,000 | 115,753,000 | 116,074,000 | 132,022,000 | 153,135,000 | 127,205,000 | 155,769,000 | 120,505,000 |
stockholders’ equity: | |||||||||||||||
common stock, 0.00001 par value... | 1,128,553,000 | 1,092,929,000 | 1,074,079,000 | 1,021,950,000 | 1,014,327,000 | 1,005,310,000 | 1,003,481,000 | 932,138,000 | 929,396,000 | 900,490,000 | |||||
preferred shares, 0.00001 par value... | |||||||||||||||
exchangeable shares, no par value, 550,884 and 553,184 issued and outstanding shares at march 31, 2026 and december 31, 2025, respectively | 7,905,000 | ||||||||||||||
additional paid-in capital | 107,530,000 | 114,626,000 | 111,489,000 | 109,243,000 | 154,216,000 | 152,249,000 | 148,296,000 | 147,343,000 | 143,144,000 | 142,274,000 | 154,114,000 | 152,257,000 | 152,677,000 | 151,614,000 | 169,262,000 |
accumulated other comprehensive loss | -6,565,000 | -6,079,000 | -6,050,000 | -6,340,000 | -6,406,000 | -6,952,000 | -5,999,000 | -7,904,000 | -7,724,000 | -6,603,000 | -8,298,000 | -7,813,000 | -5,939,000 | -6,659,000 | -6,659,000 |
accumulated deficit | -1,073,834,000 | -953,160,000 | -886,472,000 | -850,654,000 | -852,971,000 | -830,335,000 | -797,834,000 | -746,776,000 | -709,090,000 | -677,437,000 | -662,955,000 | -634,268,000 | -583,116,000 | -558,763,000 | -868,194,000 |
total stockholders’ equity | 163,589,000 | 268,501,000 | 320,064,000 | 334,506,000 | 324,967,000 | 338,768,000 | 366,978,000 | 406,161,000 | 437,999,000 | 464,806,000 | 424,344,000 | 448,919,000 | 473,538,000 | 492,956,000 | |
total liabilities and stockholders’ equity | 478,215,000 | 346,527,000 | 397,269,000 | 408,385,000 | 425,522,000 | 463,091,000 | 487,152,000 | 515,634,000 | 553,752,000 | 580,880,000 | 556,366,000 | 602,054,000 | 600,743,000 | 648,725,000 | |
deferred revenue and other consideration | 2,418,000 | 25,588,000 | 3,699,000 | 93,000 | 17,764,000 | ||||||||||
common shares, 0.00001 par value... | 1,105,176,000 | 1,015,618,000 | 997,227,000 | 886,322,000 | |||||||||||
exchangeable shares, no par value, 553,184 issued and outstanding shares at december 31, 2025 (december 31, 2024: 570,637) (note 10b). | 7,938,000 | ||||||||||||||
related party transactions | |||||||||||||||
research collaboration and licensing agreements | |||||||||||||||
commitments and contingencies | |||||||||||||||
subsequent event | |||||||||||||||
exchangeable shares, no par value, 569,189 and 570,637 issued and outstanding shares at september 30, 2025 and december 31, 2024, respectively | 8,168,000 | ||||||||||||||
exchangeable shares, no par value, 569,902 and 570,637 issued and outstanding shares at june 30, 2025 and december 31, 2024, respectively | 8,178,000 | ||||||||||||||
exchangeable shares, no par value, 569,902 and 570,637 issued and outstanding shares at march 31, 2025 and december 31, 2024, respectively | 8,178,000 | ||||||||||||||
acquired in-process research and development assets | |||||||||||||||
exchangeable shares, no par value, 570,637 issued and outstanding shares at december 31, 2024 (december 31, 2023: 651,219) (note 10b). | 8,188,000 | ||||||||||||||
acquired in-process research and development | 171,000 | 341,000 | 17,628,000 | 17,628,000 | 17,628,000 | 17,628,000 | 17,628,000 | 17,628,000 | 17,628,000 | ||||||
exchangeable shares, no par value, 570,637 and 651,219 issued and outstanding shares at september 30, 2024 and december 31, 2023, respectively | 8,188,000 | ||||||||||||||
exchangeable shares, no par value, 570,637 and 651,219 issued and outstanding shares at june 30, 2024 and december 31, 2023, respectively | 8,188,000 | ||||||||||||||
exchangeable shares, no par value, 570,637 and 651,219 issued and outstanding shares at march 31, 2024 and december 31, 2023, respectively | 8,188,000 | ||||||||||||||
short-term investments | 216,770,000 | 201,074,000 | 197,989,000 | 159,208,000 | 91,320,000 | 70,160,000 | |||||||||
deferred financing fees | 108,000 | 49,000 | 73,000 | 10,000 | 1,293,000 | ||||||||||
long-term investments | 82,148,000 | 95,674,000 | 92,235,000 | 72,474,000 | 886,000 | 886,000 | |||||||||
long-term prepaid assets | 7,240,000 | 8,286,000 | 7,912,000 | 16,886,000 | 15,729,000 | 16,454,000 | |||||||||
fair value of liability-classified stock options | 960,000 | 1,642,000 | |||||||||||||
exchangeable shares, no par value, 651,219 issued and outstanding shares at december 31, 2023 (december 31, 2022: 1,424,533) (note 10b). | 9,345,000 | ||||||||||||||
fair value of liability classified stock options | 293,000 | 1,060,000 | 1,504,000 | 830,000 | |||||||||||
exchangeable shares, no par value, 651,219 and 1,424,533 issued and outstanding shares at september 30, 2023 and december 31, 2022, respectively | 9,345,000 | ||||||||||||||
subsequent events | |||||||||||||||
exchangeable shares, no par value, 651,388 and 1,424,533 issued and outstanding shares at june 30, 2023 and december 31, 2022, respectively | 9,347,000 | ||||||||||||||
exchangeable shares, no par value, 656,888 and 1,424,533 issued and outstanding shares at march 31, 2023 and december 31, 2022, respectively | 9,426,000 | ||||||||||||||
exchangeable shares, no par value, 1,424,533 issued and outstanding shares at december 31, 2022 (december 31, 2021: nil) (note 10b). | 20,442,000 | ||||||||||||||
liabilities and shareholders’ equity | |||||||||||||||
other current liabilities | |||||||||||||||
shareholders’ equity: | |||||||||||||||
common shares, no par value; unlimited authorized shares at september 30, 2022 and december 31, 2021, respectively; 61,694,387 and 46,633,935 shares issued and outstanding at september 30, 2022 and december 31, 2021, respectively | 885,349,000 | ||||||||||||||
total shareholders’ equity | 179,758,000 | ||||||||||||||
total liabilities and shareholders’ equity | 300,263,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||
net loss | -41,209,000 | -19,602,000 | 2,317,000 | -22,636,000 | -29,850,000 | -37,686,000 | -31,653,000 | -28,687,000 | -51,152,000 | -24,353,000 | |||
items not involving cash: | |||||||||||||
depreciation of property and equipment | 898,000 | 905,000 | 885,000 | 981,000 | 997,000 | 1,035,000 | 1,095,000 | 1,061,000 | 1,536,000 | 2,401,000 | 1,941,000 | 1,584,000 | 1,152,000 |
amortization of intangible assets | 185,000 | 648,000 | 1,606,000 | 1,617,000 | 2,002,000 | 980,000 | 812,000 | 702,000 | 673,000 | 672,000 | 678,000 | 679,000 | 529,000 |
stock-based compensation | |||||||||||||
amortization and impairment of operating lease right-of-use assets | |||||||||||||
impairment of acquired ipr&d | 0 | 0 | |||||||||||
deferred income tax expense | 95,000 | 106,000 | 9,000 | 1,881,000 | |||||||||
change in fair value of contingent consideration liability | 0 | 0 | -1,178,000 | -700,000 | 299,000 | -168,000 | 0 | 499,000 | 0 | ||||
change in fair value of investments in equity instruments | |||||||||||||
unrealized foreign exchange loss | 305,000 | -451,000 | 437,000 | -298,000 | |||||||||
changes in non-cash operating working capital: | |||||||||||||
accounts receivable | 24,713,000 | -26,721,000 | 21,989,000 | 31,219,000 | -31,630,000 | 7,880,000 | -1,141,000 | -11,468,000 | 47,795,000 | -18,456,000 | 18,099,000 | -33,516,000 | -26,672,000 |
prepaid expenses and other current assets | -5,120,000 | 3,267,000 | 5,490,000 | 2,872,000 | 1,670,000 | -443,000 | -3,489,000 | -227,000 | -7,681,000 | 17,979,000 | -4,332,000 | -1,671,000 | -642,000 |
accounts payable and accrued liabilities | 1,335,000 | 3,341,000 | -7,105,000 | -21,219,000 | 7,338,000 | 6,539,000 | -1,826,000 | 2,284,000 | -22,300,000 | -4,893,000 | 10,691,000 | -28,266,000 | 37,567,000 |
operating lease liabilities | -838,000 | -872,000 | -818,000 | -814,000 | -782,000 | -732,000 | -5,764,000 | -1,035,000 | -1,033,000 | -949,000 | -861,000 | -820,000 | -2,150,000 |
deferred revenue and other consideration | -2,093,000 | -1,599,000 | 3,333,000 | 2,080,000 | -259,000 | 3,606,000 | -15,318,000 | ||||||
income taxes payable | -933,000 | 915,000 | -26,000 | -1,000 | -1,943,000 | 137,000 | 74,000 | 50,000 | 979,000 | -327,000 | |||
net cash from operating activities | 12,073,000 | -3,407,000 | -41,508,000 | -5,877,000 | -24,990,000 | -37,669,000 | 13,954,000 | -42,667,000 | -6,399,000 | -83,191,000 | 327,360,000 | ||
capital expenditures | -514,000 | 65,000 | -314,000 | -899,000 | -593,000 | -185,000 | -1,307,000 | -930,000 | -802,000 | -348,000 | |||
free cash flows | 11,559,000 | -3,342,000 | -41,822,000 | -6,776,000 | -25,583,000 | -37,854,000 | 12,647,000 | -43,597,000 | -7,201,000 | 327,012,000 | |||
cash flows from financing activities: | |||||||||||||
proceeds from issuance of common stock under at-the-market program and from public offerings, net of issuance costs | 0 | 0 | |||||||||||
private placement | |||||||||||||
issuance of common stock on exercise of stock options | 6,825,000 | 7,923,000 | 1,384,000 | 772,000 | 785,000 | 5,196,000 | 1,133,000 | 1,743,000 | 770,000 | 1,329,000 | 1,391,000 | 1,516,000 | |
issuance of common stock through employee stock purchase plan | 0 | 881,000 | 0 | 544,000 | 0 | 544,000 | 0 | 386,000 | 0 | 584,000 | 0 | 236,000 | |
purchases of common stock for retirement | -25,479,000 | -9,427,000 | |||||||||||
deferred financing fees | 0 | -92,000 | -14,000 | -12,000 | -516,000 | ||||||||
net cash from financing activities | -18,742,000 | -2,452,000 | 1,319,000 | 1,316,000 | -8,644,000 | -14,979,000 | 1,048,000 | 2,123,000 | 50,611,000 | 1,896,000 | 27,602,000 | 1,738,000 | -377,000 |
cash flows from investing activities: | |||||||||||||
purchases of marketable securities | -56,828,000 | -35,054,000 | -70,147,000 | -34,032,000 | -53,820,000 | -52,687,000 | -110,727,000 | -66,509,000 | -61,909,000 | -125,085,000 | |||
proceeds from marketable securities | 62,916,000 | 35,832,000 | 79,776,000 | 46,552,000 | 47,920,000 | 125,946,000 | 91,852,000 | 59,847,000 | 62,326,000 | 119,200,000 | |||
acquisition of property and equipment | -581,000 | -410,000 | -514,000 | -16,000 | -314,000 | -899,000 | -593,000 | -185,000 | -356,000 | -930,000 | -802,000 | -386,000 | -348,000 |
acquisition of intangible assets | -139,000 | 0 | -370,000 | -322,000 | 0 | -103,000 | -503,000 | -469,000 | -1,398,000 | -535,000 | |||
net cash from investing activities | 5,368,000 | 368,000 | 8,745,000 | 12,182,000 | -6,214,000 | 72,257,000 | -19,971,000 | -7,316,000 | -1,337,000 | -7,020,000 | -60,674,000 | -138,222,000 | -22,065,000 |
effect of exchange rate changes on cash and cash equivalents | -44,000 | 77,000 | -88,000 | 10,000 | 113,000 | -8,000 | 62,000 | 119,000 | -3,000 | 23,000 | -12,000 | 346,000 | -88,000 |
net change in cash and cash equivalents | -23,677,000 | -33,419,000 | 22,049,000 | 10,101,000 | -56,253,000 | 51,393,000 | -43,851,000 | -42,743,000 | 63,225,000 | -47,768,000 | -39,483,000 | -219,329,000 | 304,830,000 |
cash and cash equivalents, beginning of year | |||||||||||||
cash and cash equivalents, end of year | |||||||||||||
supplemental cash flow information: | |||||||||||||
net cash paid during the year for income taxes | |||||||||||||
supplemental disclosure of non-cash investing and finance items: | |||||||||||||
leased assets obtained in exchange for operating lease liabilities | 0 | 1,419,000 | 259,000 | 765,000 | 0 | 978,000 | 528,000 | 0 | |||||
issuance of common stock upon exercise of pre-funded warrants | 0 | 0 | |||||||||||
purchases of common stock not settled | -40,000 | ||||||||||||
acquisition of property and equipment and intangible assets in accounts payable and accrued liabilities | 81,000 | -951,000 | |||||||||||
stock-based compensation expense | 6,911,000 | 5,871,000 | 6,402,000 | 4,664,000 | 4,555,000 | 3,552,000 | 2,040,000 | 367,000 | 2,325,000 | ||||
amortization of operating lease right-of-use assets | 1,031,000 | 723,000 | 707,000 | 648,000 | 622,000 | 549,000 | 3,467,000 | 1,898,000 | 637,000 | ||||
deferred income tax recovery | -170,000 | 115,000 | -410,000 | ||||||||||
deferred revenue | -614,000 | ||||||||||||
net cash provided used in operating activities | |||||||||||||
private placement for issuance of common stock | |||||||||||||
deferred financing costs | -28,000 | ||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 66,103,000 | 0 | 0 | 157,557,000 | 0 | 0 | 400,912,000 | ||||
cash and cash equivalents, end of period | -33,419,000 | 22,049,000 | 76,204,000 | 51,393,000 | -43,851,000 | 114,814,000 | -47,768,000 | -39,483,000 | 181,583,000 | ||||
net cash paid during the period for income taxes | 660,000 | 196,000 | 387,000 | ||||||||||
supplemental disclosure of non-cash investing and financing items: | |||||||||||||
unrealized foreign exchange gain | -32,000 | -893,000 | -487,000 | 353,000 | 299,000 | ||||||||
net income | |||||||||||||
finance lease payments | -2,000 | -3,000 | -3,000 | -6,000 | -7,000 | -5,000 | 5,000 | -14,000 | 0 | ||||
deferred income tax (recovery) expense | -204,000 | -194,000 | -38,000 | ||||||||||
deferred income tax | |||||||||||||
acquisition of property and equipment in accounts payable and accrued liabilities | |||||||||||||
proceeds from public offering, net of issuance costs | |||||||||||||
net (purchases)/redemptions of investments | -137,836,000 | ||||||||||||
non-cash consideration from licensing agreement | |||||||||||||
proceeds from public offerings, net of issuance costs | |||||||||||||
net redemptions (purchases) of short-term investments | |||||||||||||
purchases of long-term investments | |||||||||||||
stock-based compensation (recovery) expense | |||||||||||||
issuance of common shares on exercise of stock options | |||||||||||||
issuance of common shares through employee stock purchase plan | |||||||||||||
net (purchases)/redemptions of short-term investments |