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    Zymeworks (ZYME) Is Up 5.2% After First FDA Approval For Zanidatamab And Royalty Shift - Has The Bull Case Changed?

    Simply Wall St·12/09/2025 07:10:32
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    • Zymeworks recently received FDA approval for its first internally developed therapy, zanidatamab, for HER2-positive biliary tract cancer, while also reporting clinical progress across its antibody-drug conjugate pipeline.
    • This approval, alongside new supportive analyst coverage, marks a shift toward a royalty-focused, capital-light model that could reshape how investors assess Zymeworks' long-term earnings potential.
    • Now we’ll explore how zanidatamab’s FDA approval, as Zymeworks’ first approved product, affects the company’s evolving investment narrative.

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    Zymeworks Investment Narrative Recap

    To own Zymeworks, you need to believe its royalty-first, capital-light model can convert today’s partnered assets and early ADC pipeline into durable, high-margin cash flows, despite reliance on third parties. Zanidatamab’s FDA approval meaningfully advances this case and likely becomes the key short term catalyst, while execution risk around milestone and royalty timing remains the biggest swing factor for the business.

    Among recent updates, Citizens JMP’s new Market Outperform rating and US$32 price target directly tie into zanidatamab’s launch and potential follow-on indication in gastroesophageal adenocarcinoma. This fresh analyst support helps frame how the market might value Zymeworks’ evolving royalty stream, but it also sharpens the focus on whether partners can deliver the sales performance needed to justify higher long term earnings expectations.

    Yet behind the excitement around first approval, investors should be aware that...

    Read the full narrative on Zymeworks (it's free!)

    Zymeworks' narrative projects $150.9 million revenue and $24.2 million earnings by 2028.

    Uncover how Zymeworks' forecasts yield a $34.50 fair value, a 31% upside to its current price.

    Exploring Other Perspectives

    ZYME 1-Year Stock Price Chart
    ZYME 1-Year Stock Price Chart

    Simply Wall St Community fair value estimates for Zymeworks span from US$1.43 to US$34.50 across 2 member views, underscoring how far opinions can diverge. You should weigh this dispersion against the company’s heavy dependence on partner driven milestones and royalties, then explore several alternative viewpoints before deciding how much of that risk you are comfortable owning.

    Explore 2 other fair value estimates on Zymeworks - why the stock might be worth less than half the current price!

    Build Your Own Zymeworks Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

    • A great starting point for your Zymeworks research is our analysis highlighting 3 key rewards that could impact your investment decision.
    • Our free Zymeworks research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Zymeworks' overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.