secwatch.observer — SEC 8-K summary
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Issuer:     Zymeworks Inc. (ZYME)
CIK:        0001937653
Form:       8-K
Filed at:   2026-03-02T23:59:59+00:00
Accession:  0001193125-26-084082
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zymeworks secures $250M non-recourse royalty-backed note from Royalty Pharma on Ziihera royalties
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- Repayment from 30% of Ziihera tiered royalties; total due $412.5M if paid by Dec 2033 or $481.3M by Dec 2042.
- Zymeworks retains 70% of Ziihera royalties during repayment; full royalty rights revert after Royalty Pharma payments cease.
- Proceeds strengthen balance sheet non-dilutively, support share repurchases, strategic acquisitions, and cash runway beyond 2028.
- All regulatory and commercial milestones from Jazz and BeOne agreements (up to $1.5B potential) retained by Zymeworks.
- Transaction involves Royalty Pharma (RPRX) as lender; Covington, Gibson Dunn, Choate, Maiwald as legal advisors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/0001193125-26-084082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1937653/000119312526084082/d118476d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-084082

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