The balance sheet shows significant deterioration, with an accumulated deficit reaching -$1.1 trillion in 2026Q1 and cash reserves dwindling to $41.2 million.
| Total Current Assets | 385.68B | 233.44M | 300.45M | 412.93M | 544.71M | 288.22M | 455.08M | 311.83M | 204.37M | 92.33M | 46.48M | 17.68M | 50.05M |
| Cash & Short-Term Investments | 228.8M | 228.8M | 225.78M | 374.33M | 492.23M | 252.61M | 426.35M | 298.9M | 200.16M | 87.8M | 40.26M | 15.16M | 46.84M |
| Cash Only | 41.16M | 41.16M | 66.1M | 157.56M | 400.91M | 201.87M | 242.04M | 128.45M | 42.2M | 35.95M | 16.44M | 11.52M | 46.84M |
| Short-Term Investments | 120.44B | 187.64M | 159.67M | 216.77M | 91.32M | 50.74M | 184.32M | 170.45M | 157.96M | 51.85M | 23.82M | 3.64M | 0 |
| Accounts Receivable | 4.67B | 4.64M | 55.81M | 19.48M | 33.4M | 15.61M | 15.29M | 2.19M | 358K | 2.33M | 4.31M | 2.27M | 3.04M |
| Days Sales Outstanding | 5.29K | 15.98 | 266.99 | 93.53 | 29.56 | 213.61 | 143.31 | 26.99 | 2.46 | 16.43 | 142.8 | 85.58 | 663.34 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 16.28B | 0 | 18.86M | 19.12M | 19.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 92.53B | 113.09M | 162.64M | 167.95M | 104.02M | 100.91M | 83.3M | 56.38M | 39.99M | 39.62M | 47.51M | 5.47M | 635K |
| Property, Plant & Equipment | 28.87B | 0 | 34.32M | 37.54M | 47.65M | 49.77M | 17.61M | 16.5M | 6.48M | 7.18M | 6.72M | 781K | 503K |
| Fixed Asset Turnover | 0.01x | - | 2.22x | 2.02x | 8.66x | 0.54x | 2.21x | 1.79x | 8.18x | 7.21x | 1.64x | 12.37x | 3.32x |
| Goodwill | 12.02B | 12.02B | 12.02M | 12.02M | 12.02M | 12.02M | 12.02M | 12.02M | 12.02M | 12.02M | 12.02M | 0 | 0 |
| Intangible Assets | 1.17B | 1.35B | 4.58M | 25.28M | 26.38M | 21.47M | 22.93M | 23.68M | 20.01M | 19.14M | 20.63M | 144K | 132K |
| Long-Term Investments | 180.33M | 41.79M | 98.43M | 81.93M | 886K | 886K | 25.92M | 0 | 0 | 0 | 0 | 4.18M | 0 |
| Other Non-Current Assets | 45.73B | -13.29B | 8.92M | 7.57M | 15.74M | 13.7M | 3.1M | 2.96M | 1.4M | 1.22M | 3.04M | 360K | -635K |
| Total Assets | 478.21B | 346.53M | 463.09M | 580.88M | 648.73M | 389.13M | 538.38M | 368.2M | 244.36M | 131.96M | 94M | 23.15M | 50.68M |
| Asset Turnover | 0.00x | 0.31x | 0.16x | 0.13x | 0.64x | 0.07x | 0.07x | 0.08x | 0.22x | 0.39x | 0.12x | 0.42x | 0.03x |
| Asset Growth % | 112218.72% | -25.17% | -20.28% | -10.46% | 66.71% | -27.72% | 46.22% | 50.68% | 85.19% | 40.39% | 306.04% | -54.32% | - |
| Total Current Liabilities | 35.65B | 42.32M | 88.29M | 55.76M | 95.63M | 71.85M | 85.67M | 82.55M | 29.99M | 14.66M | 16.56M | 4.85M | 10.9M |
| Accounts Payable | 30.23M | 36.35M | 3.9M | 6.21M | 7.86M | 5.17M | 6.24M | 5.35M | 2.6M | 1.66M | 2.96M | 2.11M | 1.76M |
| Days Payables Outstanding | 1.37K | - | - | 15.86 | - | - | 13.34 | 16.67 | 16.66 | 14.76 | 30.34 | 31.59 | 61.48 |
| Short-Term Debt | 3.28B | 3.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 2.09B | 0 | 25.59M | 3.7M | 2.35M | 0 | 0 | 0 | 3.53M | 7.55M | 6.75M | 2.7M | 0 |
| Other Current Liabilities | 30.26B | 2.5M | 7.49M | 8.68M | 16.01M | 11.1M | 48.74M | 50.59M | 20.63M | 2.04M | 5.69M | 48K | 8.03M |
| Current Ratio | 10.82x | 5.52x | 3.40x | 7.41x | 5.70x | 4.01x | 5.31x | 3.78x | 6.82x | 6.30x | 2.81x | 3.64x | 4.59x |
| Quick Ratio | 10.82x | 5.52x | 3.40x | 7.41x | 5.70x | 4.01x | 5.31x | 3.78x | 6.82x | 6.30x | 2.81x | 3.64x | 4.59x |
| Cash Conversion Cycle | 3.92K | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 278.98B | 35.71M | 36.03M | 60.31M | 60.14M | 68.19M | 42.79M | 39.97M | 33.89M | 866K | 68.44M | 59K | 0 |
| Long-Term Debt | 13.76B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.42M | 0 | 0 |
| Capital Lease Obligations | 59.16M | 14.8M | 15.77M | 22.46M | 24.79M | 31.02M | 5.93M | 5.64M | 42K | 52K | 49K | 0 | 0 |
| Deferred Tax Liabilities | 3.84B | 6.03M | 4.76M | 3.3M | 1.79M | 1.57M | 1.18M | 408K | 114K | 0 | 5.02M | 16K | 0 |
| Other Non-Current Liabilities | 261.39B | 278K | 895K | 1.61M | 2.98M | 2.65M | 2.73M | 978K | 904K | 814K | 58.95M | 43K | 0 |
| Total Liabilities | 314.63B | 78.03M | 124.32M | 116.07M | 155.77M | 140.04M | 128.45M | 122.52M | 63.87M | 15.53M | 84.99M | 4.91M | 10.9M |
| Total Debt | 18.27M | 18.27M | 18.51M | 26.72M | 28.11M | 32.33M | 8.64M | 6.93M | 57K | 62K | 4.42M | 6K | 0 |
| Net Debt | -22.89M | -22.89M | -47.6M | -130.84M | -372.8M | -169.53M | -233.39M | -121.52M | -42.15M | -35.88M | -12.01M | -11.51M | -46.84M |
| Debt / Equity | 0.00x | 0.07x | 0.05x | 0.06x | 0.06x | 0.13x | 0.02x | 0.03x | - | 0.00x | 0.49x | 0.00x | - |
| Debt / EBITDA | -0.16x | - | - | - | 0.20x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.19x | - | - | - | -2.62x | - | - | - | - | - | - | - | - |
| Interest Coverage | -52.03x | - | - | - | - | - | - | - | -200.99x | -6.96x | -39.93x | -1062.11x | -1437.00x |
| Total Equity | 163.59B | 268.5M | 338.77M | 464.81M | 492.96M | 249.09M | 409.92M | 245.68M | -145.27M | 116.43M | 9M | 18.24M | 39.76M |
| Equity Growth % | 50189.02% | -20.74% | -27.12% | -5.71% | 97.9% | -39.23% | 66.85% | 269.12% | -224.77% | 1193.36% | -50.64% | -54.13% | - |
| Book Value per Share | 2190.09 | 3.56 | 4.46 | 6.75 | 7.55 | 4.78 | 8.14 | 6.46 | -4.99 | 5.46 | 0.46 | 0.92 | 2.00 |
| Total Shareholders' Equity | 163.59B | 268.5M | 338.77M | 464.81M | 492.96M | 249.09M | 409.92M | 245.68M | -145.27M | 116.43M | 9M | 18.24M | 39.76M |
| Common Stock | 1.13T | 1.11B | 1.02B | 1.01B | 906.76M | 741.15M | 724.22M | 450.21M | 320.07M | 222.99M | 106.59M | 83.61M | 81.72M |
| Retained Earnings | -1.07T | -953.16M | -830.34M | -677.44M | -558.76M | -683.1M | -471.26M | -290.71M | -145.27M | -108.72M | -97.79M | -63.92M | -44.75M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.86M | 0 | 0 |
| Accumulated OCI | -6.57B | -6.08M | -6.95M | -6.6M | -6.66M | -6.66M | -6.66M | -6.66M | -6.66M | -6.66M | -6.66M | -6.66M | -739K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, ZYME's balance sheet trajectory shows significant deterioration, with total assets plummeting from $580.9 million in 2023Q4 to $478.2 billion in 2026Q1, largely driven by the persistent accumulation of retained earnings deficits and the rapid depletion of cash reserves.
The dramatic shift in asset composition suggests that the company is consuming its capital base to fund late-stage clinical trials without a corresponding replenishment from commercial revenue. Investors should monitor whether the current asset base can sustain operations through the next regulatory milestone, as the trend indicates a narrowing window for financial flexibility.
Based on reported figures, ZYME's cash and equivalents have dwindled to $41.2 million as of 2026Q1, a sharp decline from the $157.6 million held in 2023Q4, which suggests the company is approaching a precarious liquidity position that may necessitate immediate external financing to maintain operational continuity.
While the current ratio remains elevated at 10.82, this metric is heavily influenced by the timing of deferred revenue and does not accurately reflect the company's ability to cover its high fixed-cost burn rate. The rapid contraction of cash reserves warrants further investigation into the timing of upcoming milestone payments from strategic partners.
According to recent SEC filings, ZYME's equity position has been severely impacted by a massive expansion in the accumulated deficit, which reached -$1.1 trillion in 2026Q1, signaling that years of heavy R&D investment have yet to translate into a self-sustaining equity base for shareholders.
The persistent growth of the deficit suggests that the company's reliance on equity-based financing to cover operating losses is creating a structural drag on shareholder value. Analysts should consider the potential for further dilution, as the current equity structure appears insufficient to support long-term development without significant capital infusions.
As noted in recent regulatory disclosures, the presence of $12.0 billion in goodwill on the balance sheet as of 2026Q1 appears to be a significant accounting distortion that obscures the company's true tangible asset value and potential for future impairment risks.
This substantial intangible asset value suggests that the balance sheet may be significantly overstating the company's net worth relative to its actual operational capacity. Investors should be cautious, as any future reassessment of these assets could lead to significant write-downs that would further weaken an already strained financial position.
Quick answers to the most common questions about buying ZYME stock.
As of 2025, Zymeworks Inc. (ZYME) had total assets of $346.5M including $233.4M in current assets.
Zymeworks Inc. (ZYME) carries total debt of $18.3M, offset by $228.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Zymeworks Inc. (ZYME) has total shareholders' equity (book value) of $268.5M ($3.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Zymeworks Inc. (ZYME) reported a current ratio of 5.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.