Redmile Group revealed a significant reduction in its Zymeworks (NASDAQ:ZIMA) position in a February 17, 2026 SEC filing, selling an estimated $70.10 million worth of shares based on quarterly average price.
According to an SEC filing on February 17, 2026, Redmile Group reduced its stake in Zymeworks by 3,214,096 shares, with an estimated transaction value of $70.10 million based on the average closing price during the fourth quarter of 2025. The value of the position at the end of the quarter decreased by $50.35 million, as a result of both share sales and share price movements.
-
After the sale, Zymeworks represents 0.95% of Redmile’s 13F reportable AUM.
-
Main participations after the presentation:
-
NASDAQ:SRRK: $229.98 million (16.9% of assets under management)
-
NASDAQ:KRYS: $167.08 million (12.3% of assets under management)
-
NASDAQ:NRIX: $153.54 million (11.3% of assets under management)
-
NASDAQ:STOK: $128.04 million (9.4% of assets under management)
-
NASDAQ:IMNM: $122.83 million (9.0% of assets under management)
-
-
As of February 17, 2026, Zymeworks shares were priced at $23.07, up about 60% from last year and outpacing the S&P 500’s gain of about 13% in the same period.
|
Metric |
Worth |
|---|---|
|
Price (at market close 2026-02-17) |
$23.07 |
|
Market capitalization |
1.74 billion dollars |
|
Revenue (TTM) |
$134.48 million |
|
Net Income (TTM) |
($63.43 million) |
-
Zymeworks develops and markets cancer biotherapeutics, with lead candidates including zanidatamab (a bispecific antibody in Phase 1/2 trials) and ZW49 (an antibody-drug conjugate in Phase 1 trials).
-
The firm operates a clinical-stage biopharmaceutical model, generating revenue primarily through licensing agreements, research collaborations and milestone payments from strategic partners.
-
It is aimed at pharmaceutical companies and healthcare providers focused on oncology, addressing unmet medical needs in cancer treatment.
Zymeworks is a clinical-stage biotechnology company specializing in the discovery and development of innovative cancer therapies, leveraging a strong portfolio and strategic partnerships with leading pharmaceutical companies. The company’s focus on bispecific antibodies and antibody-drug conjugates positions it at the forefront of targeted oncology therapies. Zymeworks’ collaborative business model and proprietary technology platforms provide a competitive advantage in advancing next-generation cancer treatments.
When a major biotech holder trims a position to less than 1% of assets after a strong rally, that move is worth noting, especially since Zymeworks entered 2026 with tangible momentum. Positive phase 3 data from HERIZON-GEA-01 for zanidatamab in first-line HER2-positive gastroesophageal cancer showed a statistically significant progression-free survival benefit and median overall survival greater than two years in combination therapy. The company is eligible to receive up to $440 million in regulatory milestone payments tied to approvals in major markets. It also ended 2025 with approximately $270.6 million in cash and marketable securities, and has a share repurchase authorization of $125 million.
In that context, cutting the force seems more like a recycling of capital than a loss of faith. This fund still manages a concentrated biotech portfolio, with double-digit allocations to other clinical names.
Shares are up about 60% over the past year, far outperforming the broader market. Ultimately, however, Zymeworks is now in a transition phase, balancing royalty aggregation, internal R&D and capital returns, and the position size reflects that evolving risk profile.