---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-286829"
form_type: "8-K"
ticker: "ZYME"
cik: "0001937653"
company_name: "Zymeworks Inc."
filed_at: "2026-06-29T11:20:20+00:00"
generated_at: "2026-06-29T11:25:19.246175+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Zymeworks to acquire Theravance Biopharma for $17/share (~$929M total cash consideration)

## Summary
- Deal adds YUPELRI (revefenacin) with ~$60M annualized cash flow from 35% U.S. profit share
- Financing: $350M non-recourse note from OMERS Life Sciences, plus Zymeworks cash and Theravance's ~$360M net cash at close
- Shareholders receive $17 cash plus one CVR per share tied to ampreloxetine monetization (80% of net proceeds to CVR holders)
- Zymeworks expects $100M Trelegy milestone from Royalty Pharma in Q1 2027; also retains ~$2.5B Irish tax attributes
- Transaction expected to close in H2 2026; Zymeworks also maintains up to $125M share repurchase program

## SEC filing metadata
- accession: 0001193125-26-286829
- form_type: 8-K
- ticker: ZYME
- cik: 0001937653
- company_name: Zymeworks Inc.
- filed_at: 2026-06-29T11:20:20+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1937653/000119312526286829/0001193125-26-286829-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1937653/000119312526286829/d156494d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-286829
- JSON: https://secwatch.observer/filing/0001193125-26-286829.json
- Plain text: https://secwatch.observer/filing/0001193125-26-286829.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.