0001937653-24-000019 | 10-K | XBRL Viewer

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Balance Sheet Classification of Lease Liabilities

The balance sheet classification of the Company’s lease liabilities was as follows:


	December 31, 2023			December 31, 2022
Operating lease liabilities:
Current portion	$	4,261		$	3,322
Long-term portion	22,369			24,667
Total operating lease liabilities	$	26,630		$	27,989
Finance lease liabilities:
Current portion included in other current liabilities	30			16
Long-term portion included in other long-term liabilities	92			124
Total finance lease liabilities	122			140
Total lease liabilities	$	26,752		$	28,129

Weighted average remaining lease term:
Operating leases	6.7 years			7.8 years
Weighted average discount rate:
Operating leases in U.S. dollars	3.6		%	2.8		%
Operating leases in Canadian dollars	4.8		%	4.8		%

Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows:


	Operating leases
Within 1 year	$	5,542
1 to 2 years	5,113
2 to 3 years	5,021
3 to 4 years	3,811
4 to 5 years	3,174
Thereafter	8,730
Total operating lease payments	31,391
Less:
Imputed interest	(4,761)
Operating lease liabilities	$	26,630

Schedule of Cost Components of Operating Leases

The cost components of the operating leases were as follows:


	Year Ended December 31,
	2023		2022		2021
Lease expenses:
Operating lease expense	$	7,292	6,609		$	5,323
Variable lease expense	1,637		1,186		335
	$	8,929	$	7,795	$	5,658

Income Taxes - Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 3,063	$ 3,063	$ 3,063
Increases related to prior year tax positions	0	0	0
Increases related to current year tax positions	14	0	0
Balance, end of year	3,077	3,063	3,063
Unrecognized tax benefits that would impact effective tax rate	$ 0	$ 0	$ 0

Research, Collaboration and Licensing Agreements - GlaxoSmithKline Intellectual Property Development Ltd. (Details) - USD ($)		12 Months Ended
	Dec. 01, 2015	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 76,012,000	$ 412,482,000	$ 26,680,000
Glaxo Smith Kline Intellectual Property Development Ltd \| License Agreement \| Commercial and Development Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 0
Glaxo Smith Kline Intellectual Property Development Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 1,100,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Collaborative Arrangement \| Research, Development and Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 110,000,000

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Research and development collaborations (note 12)	$ 76,012	$ 412,482	$ 26,680
Operating expenses:
Research and development	143,619	208,596	199,752
General and administrative	70,446	73,358	42,561
Total operating expenses	214,065	281,954	242,313
(Loss) income from operations	(138,053)	130,528	(215,633)
Other income:
Interest income	19,705	3,596	1,965
Other (expense) income, net (note 13)	(894)	1,110	1,309
Total other income, net	18,811	4,706	3,274
(Loss) income before income taxes	(119,242)	135,234	(212,359)
Income tax recovery (expense), net (note 14)	568	(10,893)	516
Net (loss) income	(118,674)	124,341	(211,843)
Other comprehensive income:
Unrealized income on available for sale securities, net of tax of nil (note 5)	56	0	0
Total other comprehensive income	56	0	0
Comprehensive (loss) income	$ (118,618)	$ 124,341	$ (211,843)
Net (loss) income per common share (note 4):
Basic (in dollars per share)	$ (1.72)	$ 1.91	$ (4.11)
Diluted (in dollars per share)	$ (1.72)	$ 1.90	$ (4.61)
Weighted-average common stock outstanding (note 4):
Basic (in shares)	68,863,010	65,194,775	51,553,869
Diluted (in shares)	68,863,010	65,249,184	52,131,596

IPR&D and Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

IPR&D and Goodwill

Acquired IPR&D

In-process research and development assets (“IPR&D”) acquired in the 2016 Kairos Therapeutics Inc. (“Kairos”) business combination are classified as indefinite-lived intangible assets and are not currently being amortized. The following table summarizes the carrying value of IPR&D, net of impairment:


	Acquired IPR&D		Accumulated Impairment		Net
Balance at December 31, 2020	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2021	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2022	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2023	$	20,700	$	(3,072)	$	17,628

For the years ended December 31, 2023, December 31, 2022 and December 31, 2021, the Company did not record any impairment charge related to the fair value of IPR&D. The Company performed a quantitative test and concluded that IPR&D was not impaired as of December 31, 2023.

Goodwill

The Company performed its annual impairment test of goodwill as of December 31, 2023 and concluded that no impairment existed. As part of the evaluation of the recoverability of goodwill, the Company identified only one reporting unit to which the total carrying amount of goodwill has been assigned. As at December 31, 2023, the Company performed a qualitative assessment for its annual impairment test of goodwill after concluding that it was not more likely than not that the fair value of the reporting unit was less than its carrying value. Consequently, a quantitative impairment test was not required.

Commitment and Contingencies (Details) $ in Thousands, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Financial liabilities measured at fair value	$ 1,878		$ 1,248
Liability for contingent consideration
Other Commitments [Line Items]
Financial liabilities measured at fair value	$ 1,878		$ 1,248
Kairos Acquisition
Other Commitments [Line Items]
Contingent liability		$ 8.5
Kairos Acquisition \| First Phase 2 Trial
Other Commitments [Line Items]
Contingent liability		2.5
Kairos Acquisition \| First Phase 3 Trial
Other Commitments [Line Items]
Contingent liability		$ 6.0

Restructuring (Details) - USD ($)	12 Months Ended
Restructuring (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Reduction in head count percent		25.00%
Restructuring charges	$ 0
Liability related to employee severance termination benefits and other contract liabilities	$ 0	$ 678,000
Research and Development Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		5,659,000
Compensation recovery		(5,516,000)
General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3,265,000
Compensation recovery		(4,865,000)
Employee Severance \| The Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges		5,214,000
Off Setting Reversal \| The Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(10,381,000)
Facility Closing \| The Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2,435,000
Contract Termination \| The Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 1,275,000

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Computed taxes at United States statutory income tax rate	$ 25,041	$ (28,429)	$ 44,620
Non-deductible expenses	(2,696)	(9,745)	(798)
Difference between domestic and foreign tax rate	5,976	(8,365)	12,175
Adjustments to prior year	48,724	(826)	(33)
Change in valuation allowance	(78,668)	33,526	(60,260)
Share issuance costs in equity	0	0	2
Change in recognition and measurement of tax positions	(14)	0	0
Changes due to SR&ED and research credits	2,661	3,238	5,096
Other	(456)	(292)	(286)
Income tax recovery (expense)	$ 568	$ (10,893)	$ 516

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The Company records amortization using the straight-line method over the estimated useful lives of the definite-lived intangible assets as follows:


Asset Class						Rate
Software						3 years
Licensing agreements						Shorter of the licensing term or useful life

Intangible assets consist of the following:


	December 31,
	2023		2022
Research licenses	$	14,936	$	14,936
Computer software	7,878		7,522
Costs for in-progress software implementations	1,717		469
Intangible assets	24,531		22,927
Less accumulated amortization	(16,875)		(14,172)
Intangible assets, net	$	7,656	$	8,755

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At December 31, 2023, amortization expense on capitalized intangible assets is estimated to be as follows for each of the next five years:


	Amortization expense
2024	$	2,802
2025	2,378
2026	545
2027	213
2028	—
	$	5,938

Commitment and Contingencies - Summary of Changes in Fair Value of the Company's Liability for Contingent Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative Liability Roll Forward [Roll Forward]
Liability at the beginning of the period	$ 1,248	$ 1,498
Change in fair value of contingent consideration liability (note 16)	630	0
Amounts paid or transferred to payables	0	(250)
Liability at end of the period	$ 1,878	$ 1,248

Stockholders' Equity - Summary of Stock Options Granted (Detail) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 CAD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2023 CAD ($) $ / shares shares	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 CAD ($)
Number of Options
Granted (in shares)	0	0
Weighted- Average Contractual Term (years)
Weighted-average contractual term, vested and expected to vest	1 year 7 months 6 days	1 year 7 months 6 days
Canadian Dollar Under the New Option Stock Plan
Number of Options
Outstanding, beginning balance (in shares)	2,147,141	2,147,141	2,488,655	2,488,655
Granted (in shares)	0	0	917,035	917,035
Expired (in shares)	(29,158)	(29,158)	(54,221)	(54,221)
Exercised (in shares)	(339,230)	(339,230)	(30,163)	(30,163)
Forfeited (in shares)	(289,275)	(289,275)	(1,174,165)	(1,174,165)
Outstanding, ending balance (in shares)	1,489,478	1,489,478	2,147,141	2,147,141	2,488,655	2,488,655
Exercisable (in shares)	1,286,234						1,286,234
Vested and expected to vest (in shares)	1,463,464						1,463,464
Weighted- Average Exercise Price ($)
Beginning balance (in dollars per share) \| (per share)	$ 14.03	$ 19.02	$ 20.70	$ 26.15
Granted (in dollars per share) \| (per share)	0	0	6.76	8.67
Expired (in dollars per share) \| (per share)	13.55	18.29	13.08	17.30
Exercised (in dollars per share) \| (per share)	8.44	11.31	5.79	7.60
Forfeited (in dollars per share) \| (per share)	18.76	25.20	20.60	26.43
Ending balance (in dollars per share) \| (per share)	14.39	19.59	$ 14.03	$ 19.02	$ 20.70	$ 26.15
Exercisable (in dollars per share) \| (per share)	15.45	$ 20.46
Vested and expected to vest (in dollars per share) \| (per share)	$ 14.87						$ 19.70
Weighted- Average Contractual Term (years)
Weighted-average contractual term, outstanding	5 years 6 months	5 years 6 months	6 years 3 months 14 days	6 years 3 months 14 days	6 years 2 months 26 days	6 years 2 months 26 days
Weighted-average contractual term, exercisable	4 years 9 months 7 days	4 years 9 months 7 days
Weighted-average contractual term, vested and expected to vest	5 years 5 months 15 days	5 years 5 months 15 days
Aggregate intrinsic value ($)
Aggregate intrinsic value outstanding	$ 2,255		$ 1,078	$ 1,078	$ 6,224	$ 6,224	$ 2,987	$ 1,460	$ 7,919
Aggregate intrinsic value exercisable	1,369	$ 1,814
Aggregate intrinsic vested and expected to vest	$ 2,165						$ 2,867
U.S Dollar Under the New Option Stock Plan
Number of Options
Outstanding, beginning balance (in shares)	5,565,145	5,565,145	4,916,914	4,916,914
Granted (in shares)	2,691,325	2,691,325	2,996,898	2,996,898
Expired (in shares)	0	0	0	0
Exercised (in shares)	(302,052)	(302,052)	(9,057)	(9,057)
Forfeited (in shares)	(1,885,176)	(1,885,176)	(2,339,610)	(2,339,610)
Outstanding, ending balance (in shares)	6,069,242	6,069,242	5,565,145	5,565,145	4,916,914	4,916,914
Exercisable (in shares)	2,925,788						2,925,788
Vested and expected to vest (in shares)	5,720,112						5,720,112
Weighted- Average Exercise Price ($)
Beginning balance (in dollars per share) \| $ / shares	$ 17.10		$ 26.59
Granted (in dollars per share) \| $ / shares	8.25		8.32
Expired (in dollars per share) \| $ / shares	0		0
Exercised (in dollars per share) \| $ / shares	7.39		7.17
Forfeited (in dollars per share) \| $ / shares	19.39		25.84
Ending balance (in dollars per share) \| $ / shares	12.97		$ 17.10		$ 26.59
Exercisable (in dollars per share) \| $ / shares	17.09
Vested and expected to vest (in dollars per share) \| $ / shares	$ 13.24
Weighted- Average Contractual Term (years)
Weighted-average contractual term, outstanding	7 years 8 months 1 day	7 years 8 months 1 day	7 years 10 months 9 days	7 years 10 months 9 days	7 years 11 months 4 days	7 years 11 months 4 days
Weighted-average contractual term, exercisable	6 years 2 months 23 days	6 years 2 months 23 days
Weighted-average contractual term, vested and expected to vest	7 years 5 months 26 days	7 years 5 months 26 days
Aggregate intrinsic value ($)
Aggregate intrinsic value outstanding \| $	$ 9,213		$ 1,928	$ 1,928	$ 5,555	$ 5,555
Aggregate intrinsic value exercisable \| $	2,377
Aggregate intrinsic vested and expected to vest \| $	$ 8,451

Net (Loss) Income per Share - Summary of Calculation of Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Basic	$ (118,674)	$ 124,341	$ (211,843)
Adjustment for change in fair value of liability classified stock options	0	(231)	(28,534)
Diluted	$ (118,674)	$ 124,110	$ (240,377)
Weighted-average common stock outstanding:
Basic (in shares)	68,863,010	65,194,775	51,553,869
Adjustment for dilutive effect of equity classified stock options and RSUs (in shares)	0	53,535	0
Adjustment for dilutive effect of liability classified stock options (in shares)	0	874	577,727
Diluted (in shares)	68,863,010	65,249,184	52,131,596
Net (loss) income per common share – basic (in dollars per share)	$ (1.72)	$ 1.91	$ (4.11)
Net (loss) income per common share – diluted (in dollars per share)	$ (1.72)	$ 1.90	$ (4.61)

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 7,462	$ 6,220	$ 3,739

Leases - Schedule of Future Minimum Lease Payment Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Within 1 year	$ 5,542
1 to 2 years	5,113
2 to 3 years	5,021
3 to 4 years	3,811
4 to 5 years	3,174
Thereafter	8,730
Total operating lease payments	31,391
Imputed interest	(4,761)
Total operating lease liabilities	$ 26,630	$ 27,989

Liabilities - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities (note 9)	Other long-term liabilities (note 9)
Liability for contingent consideration (note 16)	$ 308	$ 1,248
Liability from in-licensing agreements	747	1,047
Finance lease liability	92	124
Other	554	682
Total	$ 1,701	$ 3,101

Commitment and Contingencies - Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	$ 1,878	$ 1,248
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	1,878	1,248
Liability for contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	1,878	1,248
Liability for contingent consideration \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	0	0
Liability for contingent consideration \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	0	0
Liability for contingent consideration \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities measured at fair value	$ 1,878	$ 1,248

Research, Collaboration and Licensing Agreements - 2016 Platform Technology Transfer and License Agreement with GSK (Details) - USD ($)		12 Months Ended			92 Months Ended
	Apr. 21, 2016	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 76,012,000	$ 412,482,000	$ 26,680,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Milestone and Other Payments \| Maximum \| Eligible to Receive
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 1,100,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Technology Access Fee \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					$ 6,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Research Milestone \| Maximum \| Eligible to Receive \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	37,500,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Development Milestone \| Maximum \| Eligible to Receive \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	183,500,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Commercial Sales Milestones \| Maximum \| Eligible to Receive \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 867,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Research, Development and Commercial Milestones \| Platform Technology Transfer and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 0

Other (Expense) Income, net (Tables)

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating (Expense) Income

Other (expense) income, net consists of the following:


	Year ended December 31,
	2023		2022		2021
Foreign exchange (loss) gain	$	(1,185)	$	1,152	$	1,191
Other	291		(42)		118
	$	(894)	$	1,110	$	1,309

Stockholders' Equity - Schedule of Stock-based Compensation Expense for Equity Classified Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Research and development expenses	$ 143,619	$ 208,596	$ 199,752
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation for equity classified instruments	2,112	3,174	20,090
Change in fair value of liability classified instruments	292	(781)	(4,646)
Research and development expenses	2,404	2,393	15,444
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation for equity classified instruments	6,621	4,102	18,184
Change in fair value of liability classified instruments	(1,305)	(2,893)	(23,758)
General and administrative expenses	5,316	1,209	(5,574)
Other Expense (Income)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Change in fair value of liability classified instruments	(5)	(11)	(129)
Finance expenses	$ (5)	$ (11)	$ (129)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Stockholders' Equity - Summary of RSUs Outstanding (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of RSUs
Outstanding at beginning of period (in shares)	227,223	354,269
Granted (in shares)	864,100	110,400
Vested and settled (in shares)	(100,949)	(93,966)
Forfeited (in shares)	(218,961)	(143,480)
Outstanding, at end of period (in shares)	771,413	227,223
Weighted- average grant date fair value ($)
Outstanding, at beginning of period (in dollars per shares)	$ 17.36	$ 25.85
Granted (in dollars per share)	8.03	8.67
Vested and settled (in dollars per share)	18.69	25.01
Forfeited (in dollars per share)	10.65	26.63
Outstanding, at end of period (in dollars per shares)	$ 8.63	$ 17.36

Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 2,802
2025	2,378
2026	545
2027	213
2028	0
Intangible assets, net	$ 5,938

Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	December 31,
	2023		2022
Computer hardware	$	2,464	$	2,235
Furniture and fixtures	2,976		2,976
Office equipment	2,142		2,067
Laboratory equipment	11,807		9,698
Leasehold improvements	20,992		20,960
Construction in progress	122		76
Property and equipment	$	40,503	$	38,012
Less accumulated depreciation	(20,656)		(13,299)
Property and equipment, net	$	19,847	$	24,713

Depreciation expense on property and equipment for the years ended December 31, 2023, 2022 and 2021 was $7,462, $6,220 and $3,739, respectively.

Summary of Significant Accounting Policies - Summary of Definite-lived Intangible Assets, Estimated Useful Lives (Details)	Dec. 31, 2023
Software
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	3 years

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

a. Income tax recovery (expense) is comprised of the following:


	Year Ended December 31,
	2023		2022		2021
Current income tax expense	$	(189)	$	(8,953)	$	(437)
Deferred income tax recovery (expense)	757		(1,940)		953
Income tax recovery (expense)	$	568	$	(10,893)	$	516

Current income tax recovery (expense) for the years ended December 31, 2023, 2022 and 2021 arose from the operations of the Company as well as its wholly owned subsidiaries in Canada, in the United States, in Ireland and in Singapore, as well as withholding taxes paid by the Company abroad in 2023, 2022 and 2021.

b. Income tax recovery (expense) varies from the amounts that would be computed by applying the expected U.S. statutory income tax rate of 21% (2022: 21% and 2021: 21%) to income (loss) before income taxes as shown in the following table:


	Year Ended December 31,
	2023		2022		2021
Computed taxes at United States statutory income tax rate	$	25,041	$	(28,429)	$	44,620
Non-deductible expenses	(2,696)		(9,745)		(798)
Difference between domestic and foreign tax rate	5,976		(8,365)		12,175
Adjustments to prior year	48,724		(826)		(33)
Change in valuation allowance	(78,668)		33,526		(60,260)
Share issuance costs in equity	—		—		2
Change in recognition and measurement of tax positions	(14)		—		—
Changes due to SR&ED and research credits	2,661		3,238		5,096
Other	(456)		(292)		(286)
Income tax recovery (expense)	$	568	$	(10,893)	$	516

c. Deferred income tax assets and liabilities result from the temporary differences between the amounts of assets and liabilities recognized for financial statement and income tax purposes. The significant components of the deferred income tax assets and liabilities are as follows:


	December 31, 2023		December 31, 2022
Deferred tax assets:
Non-capital losses carried forward	$	162,545	$	84,948
Deferred revenue	9,893		8,893
Share issuance costs	2,972		4,549
Property and equipment	291		565
Intangible assets	1,902		5,930
Research and development deductions and credits	44,635		39,957
Contingent consideration	111		404
Stock options	5,936		4,344
Operating lease liability	6,596		7,008
Other	465		302
	$	235,346	$	156,900
Deferred tax liabilities:
Property and equipment	(231)		(967)
IPR&D	(4,760)		(4,759)
Operating lease right-of-use assets	(4,531)		(5,758)
Outside basis difference in foreign subsidiary	(2,125)		(1,788)
Stock options	(1,177)		—
Other	(186)		—
	$	(13,010)	$	(13,272)
	222,336		143,628
Less: valuation allowance	(222,021)		(144,071)
Net deferred tax (liabilities) assets	$	315	$	(443)
Deferred tax assets	$	3,615	$	1,345
Deferred tax liabilities	(3,300)		(1,788)
Net deferred tax (liabilities) assets	$	315	$	(443)

The realization of deferred income tax assets is dependent upon the generation of sufficient taxable income during future periods in which the temporary differences are expected to reverse. The valuation allowance is reviewed on a quarterly basis and if the assessment of the “more likely than not” criterion changes, the valuation allowance is adjusted accordingly.

d. At December 31, 2023, the Company has net operating losses carried forward for tax purposes in Canada, which are available to reduce taxable income of future years of approximately $597.2 million (December 31, 2022: $314.7 million) expiring commencing 2035 through 2043.

At December 31, 2023, the Company also has unclaimed tax deductions for scientific research and experimental development expenditures of approximately $99.1 million (December 31, 2022: $89.0 million) available to reduce taxable income of future years in Canada, with no expiry. At December 31, 2023, the Company has approximately $21.7 million (December 31, 2022: $18.5 million) of investment tax credits available to offset Canadian federal and provincial taxes payable expiring commencing in 2029 through 2043, and has approximately $0.4 million (December 31, 2022: $1.2 million) of research tax credits available to offset U.S. federal taxes payable expiring commencing in 2042 through 2043.

e. The investment tax credits and non-capital losses for income tax purposes expire as follows:


Expiry date	Investment tax credits		Research tax credits		Non-capital losses
2029	$	1,169	$	—	$	—
2030	1,242		—		—
2031	1,424		—		—
2032	1,357		—		—
2033	1,277		—		—
2034	229		—		—
2035	1,068		—		3,961
2036	862		—		24,578
2037	1,586		—		10,625
2038	1,485		—		—
2039	1,818		—		81,253
2040	1,903		—		146,611
2041	2,222		—		192,924
2042	2,126		19		39,632
2043	1,934		343		97,644
	$	21,702	$	362	$	597,228

f. A reconciliation of total unrecognized tax benefits for the years ended December 31, 2023, 2022, and 2021 are as follows:


	Year Ended December 31,
	2023		2022		2021
Balance, beginning of year	$	3,063	$	3,063	$	3,063
Increases related to prior year tax positions	—		—		—
Increases related to current year tax positions	14		—		—
Balance, end of year	$	3,077	$	3,063	$	3,063

Included in the balance of unrecognized tax benefits at December 31, 2023, 2022 and 2021 are potential benefits of nil that, if recognized, would affect the effective tax rate on income from continuing operations. Recognition of these potential benefits would result in a deferred tax asset in the form of net operating loss carry-forward, which would be subject to a valuation allowance based on conditions existing at the reporting date.

The Company recognizes interest expense and penalties related to unrecognized tax benefits within the provision for income tax expense on the consolidated statements of (loss) income and comprehensive (loss) income.

The Company currently files income tax returns in Canada, the United States, the United Kingdom, Ireland and Singapore, the jurisdictions in which the Company believes that it is subject to tax. Further, while the statute of limitations in each jurisdiction where an income tax return has been filed generally limits the examination period, as a result of loss carry-forwards, the limitation period for examination generally does not expire until several years after the loss carry-forwards are utilized. Other than routine audits by tax authorities for tax credits and tax refunds that the Company has claimed, management is not aware of any other material income tax examination currently in progress by any taxing jurisdiction. Tax years ranging from 2006 to 2023 remain subject to Canadian income tax examinations. Tax years ranging from 2020 to 2023 remain subject to U.S. income tax examinations. Tax years ranging from 2022 to 2023 remain subject to United Kingdom and Ireland income tax examinations. Tax year 2023 remains subject to Singapore income tax examinations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (118,674)	$ 124,341	$ (211,843)
Items not involving cash:
Depreciation of property and equipment (note 7)	7,462	6,220	3,739
Amortization of intangible assets (note 8)	2,702	1,015	2,793
Stock-based compensation (note 10e)	8,102	4,015	10,756
Amortization and impairment of operating lease right-of-use assets	7,141	4,769	3,051
Deferred income tax (recovery) expense (note 14)	(757)	1,940	(953)
Change in fair value of contingent consideration liability (note 16)	630	(250)	213
Change in fair value of investments in equity instruments	667	0	(167)
Unrealized foreign exchange gain	(31)	(1,956)	(433)
Changes in non-cash operating working capital:
Accounts receivable	13,922	(17,509)	(266)
Prepaid expenses and other current assets	4,295	(2,059)	(15,792)
Accounts payable and accrued liabilities	(44,768)	26,479	16,477
Operating lease liabilities	(3,663)	(3,736)	(26)
Deferred revenue and other consideration	3,699	0	0
Income taxes payable	970	840	0
Net cash (used in) / provided by operating activities	(118,303)	144,109	(192,451)
Cash flows from financing activities:
Proceeds from issuance of common stock under at-the-market program and from public offerings, net of issuance costs (notes 10a)	26,233	107,534	0
Private placement (note 10a)	49,862	0	0
Issuance of common stock on exercise of stock options (note 10e)	5,006	255	6,428
Issuance of common stock through employee stock purchase plan (note 10f)	820	1,403	2,070
Deferred financing fees	(53)	(596)	(470)
Finance lease payments	(21)	(14)	(17)
Net cash provided by financing activities	81,847	108,582	8,011
Cash flows from investing activities:
Purchases of marketable securities	(553,249)	(113,005)	(35,081)
Proceeds from marketable securities	350,073	72,281	192,962
Acquisition of property and equipment	(2,474)	(8,150)	(12,404)
Acquisition of intangible assets	(1,603)	(4,975)	(881)
Net cash (used in) / provided by investing activities	(207,253)	(53,849)	144,596
Effect of exchange rate changes on cash and cash equivalents	354	203	(325)
Net change in cash and cash equivalents	(243,355)	199,045	(40,169)
Cash and cash equivalents, beginning of year	400,912	201,867	242,036
Cash and cash equivalents, end of year	157,557	400,912	201,867
Supplemental disclosure of non-cash investing and finance items:
Leased assets obtained in exchange for operating lease liabilities	1,900	72	24,609
Acquisition of property and equipment and intangible assets in accounts payable and accrued liabilities	$ 122	$ 957	$ 1,933

Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 24,531	$ 22,927
Less accumulated amortization	(16,875)	(14,172)
Intangible assets, net	7,656	8,755
Research licenses
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	14,936	14,936
Computer software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	7,878	7,522
Costs for in-progress software implementations
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 1,717	$ 469

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Share-based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes the Company's RSU activity under the New Plan:


	Number of RSUs	Weighted- average grant date fair value ($)
Outstanding, December 31, 2021	354,269	25.85
Granted	110,400	8.67
Vested and settled	(93,966)	25.01
Forfeited	(143,480)	26.63
Outstanding, December 31, 2022	227,223	17.36
Granted	864,100	8.03
Vested and settled	(100,949)	18.69
Forfeited	(218,961)	10.65
Outstanding, December 31, 2023	771,413	8.63

Summary of Stock Options Granted

The following table summarizes the Company’s stock options granted in Canadian dollars under the Original Plan and the New Plan:


	Number of Options	Weighted- Average Exercise Price (C$)	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value (C$)	Aggregate intrinsic value ($)
Outstanding, December 31, 2021	2,488,655	26.15	20.70	6.24	7,919	6,224
Granted	917,035	8.67	6.76
Expired	(54,221)	17.30	13.08
Exercised	(30,163)	7.60	5.79
Forfeited	(1,174,165)	26.43	20.60
Outstanding, December 31, 2022	2,147,141	19.02	14.03	6.29	1,460	1,078
Granted	—	—	—
Expired	(29,158)	18.29	13.55
Exercised	(339,230)	11.31	8.44
Forfeited	(289,275)	25.20	18.76
Outstanding, December 31, 2023	1,489,478	19.59	14.39	5.50	2,987	2,255
December 31, 2023
Exercisable	1,286,234	20.46	15.45	4.77	1,814	1,369
Vested and expected to vest	1,463,464	19.70	14.87	5.46	2,867	2,165

The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan and the Inducement Plan:


	Number of Options	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value ($)
Outstanding, December 31, 2021	4,916,914	26.59	7.93	5,555
Granted	2,996,898	8.32
Expired	—	—
Exercised	(9,057)	7.17
Forfeited	(2,339,610)	25.84
Outstanding, December 31, 2022	5,565,145	17.10	7.86	1,928
Granted	2,691,325	8.25
Expired	—	—
Exercised	(302,052)	7.39
Forfeited	(1,885,176)	19.39
Outstanding, December 31, 2023	6,069,242	12.97	7.67	9,213
December 31, 2023
Exercisable	2,925,788	17.09	6.23	2,377
Vested and expected to vest	5,720,112	13.24	7.49	8,451

Schedule of Non-Vested Stock Option Activity

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in Canadian dollars is as follows:


	Number of options	Weighted-average grant date fair value (C$)	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2022	772,540	11.40	8.41
Options granted	—	—	—
Options vested	(362,479)	11.61	8.76
Options forfeited and cancelled	(130,306)	12.51	9.44
Non-vested, December 31, 2023	279,755	10.65	8.04

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in U.S. dollars is as follows:


	Number of options	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2022	3,011,283	9.41
Options granted	2,691,325	5.23
Options vested	(1,507,708)	8.89
Options forfeited and cancelled	(1,057,317)	9.83
Non-vested, December 31, 2023	3,137,583	5.93

Schedule of Stock-based Compensation Expense for Equity Classified Instruments

Stock-based compensation expense for equity classified instruments, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments (note 2), are recorded in research and development expense, general and administration expense and finance expense as follows:


	Year Ended December 31,
	2023		2022		2021
Research and development expense:
Stock-based compensation expense for equity classified instruments	$	2,112	$	3,174	$	20,090
Change in fair value of liability classified instruments	292		(781)		(4,646)
	$	2,404	$	2,393	$	15,444
General and administrative expense:
Stock-based compensation expense for equity classified instruments	$	6,621	$	4,102	$	18,184
Change in fair value of liability classified instruments	(1,305)		(2,893)		(23,758)
	$	5,316	$	1,209	$	(5,574)
Finance income:
Change in fair value of liability classified instruments	(5)		(11)		(129)
	$	(5)	$	(11)	$	(129)

Schedule of Estimated Fair Value of Stock Options Assumptions

The estimated fair value of stock options granted under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Year ended December 31,
	2023		2022		2021
Dividend yield	0	%	0	%	0	%
Expected volatility	68.1	%	77.2	%	80.3	%
Risk-free interest rate	3.94	%	2.12	%	1.02	%
Expected average life of options	5.89 years		5.93 years		6.05 years

The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at December 31, 2023 and 2022 are as follows:


	December 31, 2023		December 31, 2022
Dividend yield	0	%	0	%
Expected volatility	50.6	%	78.6	%
Risk-free interest rate	3.80	%	4.00	%
Expected average option term	0.91 years		1.90 years
Number of liability classified stock options outstanding	442,198		721,985

Research, Collaboration and Licensing Agreements - 2016 Collaboration Agreement with Daiichi Sankyo, Co., Ltd. (Details) - USD ($) $ in Thousands	12 Months Ended			78 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 76,012	$ 412,482	$ 26,680
Daiichi Sankyo, Co., Ltd \| Technology Access Fee \| Cross License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)				$ 2,000
Daiichi Sankyo, Co., Ltd \| Research, Development, Commercial License Option Milestone \| Cross License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)				$ 4,500

- Definition

+ References

+ Details

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Zymeworks Inc. together with its subsidiaries (collectively the “Company” or “Zymeworks”) is a clinical-stage biopharmaceutical company dedicated to the development of next-generation multifunctional biotherapeutics. Zymeworks BC Inc. ("Zymeworks BC") (previously known as “Zymeworks Inc.”) was incorporated on September 8, 2003 under the laws of the Canada Business Corporations Act. On October 22, 2003, the Company was registered as an extra-provincial company under the Company Act (British Columbia). On May 2, 2017, the Company continued under the Business Corporations Act (British Columbia). Since its inception, the Company has devoted substantially all of its resources to research and development activities, including developing its therapeutic platforms and identifying and developing potential product candidates by undertaking preclinical studies and clinical trials. The Company supports these activities through general and administrative support, as well as by raising capital, conducting business planning and protecting its intellectual property. On October 13, 2022, the Company completed an internal reorganization transaction resulting in a Delaware incorporated entity becoming the listed company (the “Redomicile Transactions”). Prior to the Redomicile Transactions, the shares of Zymeworks BC Inc. (formerly known as Zymeworks Inc.) were publicly listed. Unless the context otherwise requires or otherwise expressly states, all references in the accompanying consolidated financial statements to “Zymeworks,” the “Company,” “we,” “us” and “our” (i) for periods until completion of the Redomicile Transactions, refer to Zymeworks BC Inc. and its subsidiaries and (ii) for periods after completion of the Redomicile Transactions, refer to Zymeworks Inc. (formerly known as Zymeworks Delaware Inc.) and its subsidiaries. To effect the Redomicile Transactions, the Company conducted a share exchange, pursuant to which holders of the Company's common shares exchanged their common shares in the Company for shares of common stock of Zymeworks Inc. (formerly known as Zymeworks Delaware Inc.) or, at their election with respect to all or a portion of their common shares in the Company and subject to applicable eligibility criteria and an overall cap, exchangeable shares (the “Exchangeable Shares”) in the capital of a newly formed indirect subsidiary of Zymeworks Inc. A special meeting of Company security holders was held on October 7, 2022 to approve the Redomicile Transactions. The Redomicile Transactions were governed by a transaction agreement dated July 14, 2022, as restated and amended on August 18, 2022 (the “Restated and Amended Transaction Agreement”), by and among the Company and its direct or indirect subsidiaries Zymeworks Inc., Zymeworks CallCo ULC ("CallCo") and Zymeworks ExchangeCo Ltd., ("ExchangeCo") including a plan of arrangement included as Exhibit A to the Restated and Amended Transaction Agreement (the “Plan of Arrangement”).

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent accounting pronouncements not yet adopted The Company has reviewed recent accounting pronouncements and concluded that they are either not applicable, or that no material impact is expected on the consolidated financial statements as a result of future adoption.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of Zymeworks Inc. and its wholly owned subsidiaries, Zymeworks BC Inc., Zymeworks Biopharmaceuticals Inc., Zymeworks Pharmaceuticals Limited (Ireland), Zymeworks Lifesciences Pte. Ltd. (Singapore), Zymeworks CallCo ULC, Zymeworks ExchangeCo Ltd., Zymeworks Management Inc. (including this entity's branch in the United Kingdom) and Zymeworks Zanidatamab Inc. (refer to note 12). All inter-company accounts and transactions have been eliminated on consolidation.

All amounts expressed in the consolidated financial statements of the Company and the accompanying notes thereto are expressed in thousands of U.S. dollars, except for share and per share data and where otherwise indicated. References to “$” are to U.S. dollars and references to “C$” are to Canadian dollars. Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations.

Foreign Currency

The functional currency of the Company is the U.S. dollar. Transactions denominated in foreign currencies are translated at the approximate exchange rate prevailing on the date of the transaction. At period end, monetary assets and liabilities denominated

in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Resulting foreign exchange gains and losses are reflected in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

Use of Estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and judgments in certain circumstances that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, most notably those related to revenue recognition including estimated timing of completion of performance obligations required to meet revenue recognition criteria, accrual of expenses including clinical and preclinical study expense accruals, stock-based compensation, valuation allowance for deferred taxes, measurement of contingent consideration liabilities, and other contingencies. Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from these estimates.

Revenue Recognition

Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”) applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. In accordance with ASC 606, the Company recognizes revenue when the Company’s customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services.

The Company applied ASC 606 to all revenue arrangements to date. For collaborative arrangements that fall within the scope of ASC 808, Collaborative Arrangements (“ASC 808”), the Company applies the revenue recognition model under ASC 606 to part or all of the arrangements, when deemed appropriate.

In accordance with ASC 606, the Company recognizes revenue when the Company’s customer obtains control of promised goods or services, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company performs the following steps: (i) identification of the promised deliverables in the contract; (ii) determination of whether the promised deliverables are performance obligations including whether they are distinct; (iii) measurement of the transaction price, including uncertainties related to variable consideration; (iv) allocation of the transaction price to the performance obligations based on the stand-alone selling prices; and (v) recognition of revenue when or as the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration that it is entitled to in exchange for the goods and services transferred to the customer. At contract inception, the Company assesses the goods or services promised within each contract that falls under the scope of Topic 606, to identify distinct performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied.

The Company has entered into a number of collaboration and licensing agreements. Promised deliverables within these agreements may include: (i) grants of licenses, or options to obtain licenses, to the Company’s intellectual property, (ii) research and development services, (iii) drug product manufacturing, and (iv) participation on joint research and/or development committees. The terms of these agreements typically include one or more of the following types of payments to the Company:

•non-refundable, upfront license and platform technology access fees;

•research, development and regulatory milestone payments;

•research support, development and other payments; and

•royalties and commercial milestone payments.

If the expectation at contract inception is such that the period between payment by the licensee and the completion of related performance obligations will be one year or less, the Company assumes that the contract does not have a significant financing component.

When applying the revenue recognition criteria of ASC 606 to license and collaboration agreements, the Company may be required to apply significant judgment when evaluating whether contractual obligations represent distinct performance obligations including understanding the nature and significance of the contractual obligations and their standalone selling

prices, determining when performance obligations have been met, assessing the recognition and future reversal of variable consideration, and determining and applying appropriate methods of measuring progress for performance obligations satisfied over time. The accounting for the modification to existing contracts with customers arising from licensing and collaboration arrangements requires management to apply significant judgment when evaluating whether the modification to financial terms is related to distinct performance obligations remaining in the amended collaboration agreement. These judgments are discussed in more detail in the following paragraphs for each type of payment received by the Company under the terms of the license and collaborations agreements.

Non-refundable, upfront license and platform technology access fees

If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are not distinct from other promises, the Company uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, upfront fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the related revenue recognition accordingly.

Research, development and regulatory milestone payments

At the inception of each arrangement that includes research, development or regulatory milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. When it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect license, collaboration and other revenues and earnings in the period of adjustment. The probability of successfully achieving the criteria for the milestone payments is highly uncertain. Consequently, there is a significant risk that the Company may not earn all of the milestone payments from each of its strategic partners.

Research and development milestones in the Company’s collaboration agreements may include some, but not necessarily all, of the following types of events:

• completion of preclinical research and development work leading to selection of product candidates;

• initiation of Phase 1, Phase 2 and Phase 3 clinical trials; and

• achievement of certain other technical, scientific or development criteria.

Regulatory milestone payments may include the following types of events:

• filing of regulatory applications for marketing approval in the United States, Europe or Japan, including Investigational New Drug (“IND”) applications and Biologics License Application (“BLA”); and

• marketing approval in major markets, such as the United States, Europe or Japan.

Research support, development and other payments

Payments by the licensees in exchange for research and development activities performed by the Company on behalf of the licensee are recognized as revenue upon performance of such activities at rates consistent with prevailing market rates. Payments for research and development supplies provided are recognized as revenue upon delivery of the supplies.

Supply of clinical trial drugs and comparator drugs

Amounts receivable by the Company for the provision of drugs to licensee or to clinical trials on behalf of licensee are recognized in revenue at a point in time when title to drugs has transferred to the licensee, which generally occurs upon shipment.

Royalties and commercial milestone payments

For arrangements that include sales-based royalties, including commercial milestone payments based on pre-specified level of sales, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Achievement of these royalties and commercial milestones may solely depend upon performance of the licensee.

Contract assets and liabilities

Contract assets are mainly comprised of trade receivables net of expected credit losses, which includes amounts billed and currently due from customers.

Contract liabilities are mainly comprised of deferred revenues. Amounts received prior to satisfying all revenue recognition criteria are recorded as deferred revenue in the Company’s consolidated financial statements. Amounts not expected to be recognized as revenue within the next twelve months of the consolidated balance sheet date are classified as long-term deferred revenue.

Modifications of contracts with customers

The Company accounts for a modification to a contract with a customer as a separate contract if both the scope of the contract increases because of the addition of promised goods or services that are distinct, and the price of the contract increases by an amount of consideration that reflects the Company’s stand-alone selling price of the additional promised goods or services. A modification that does not meet this criteria is accounted for as an adjustment to the existing contract, either prospectively or through a cumulative catch-up adjustment. The Company accounts for a contract modification prospectively if the remaining goods or services are distinct from the goods or services transferred before the modification, but the consideration for those goods or services does not reflect their stand-alone selling prices. Any changes in the transaction price that arise as a result of a contract modification that are not allocated to remaining goods or services are recognized as a cumulative catch-up adjustment.

Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of 90 days or less at the date of acquisition to be cash equivalents. Cash equivalents include guaranteed investment certificates (“GICs”) acquired from financial institutions and money market funds which are recorded at cost plus accrued interest.

Investments

Marketable Securities

The Company's investments include high credit quality investment grade debt securities which comprise investments in U.S. Treasury notes and corporate debt securities. The Company classifies all of its investment grade debt securities as available-for-sale (note 5). Marketable securities also include GICs with original maturities of greater than 90 days. These investments are recorded at cost plus accrued interest, which approximates their fair value.

Unrealized fair value gains and losses for investments classified as available-for-sale are recorded through other comprehensive income (loss) in stockholders' equity. When the fair value of an available-for-sale security falls below the amortized cost basis it is evaluated to determine if any of the decline in value is attributable to credit loss. Decreases in fair value attributable to credit loss are recorded directly to the consolidated statement of (loss) income with a corresponding allowance for credit losses, limited to the amount that the fair value is below the amortized cost basis. If the credit quality subsequently improves the allowance is reversed up to a maximum of the previously recorded credit losses. When the Company intends to sell an impaired available-for-sale security, or if it is more likely than not that the Company will be required to sell the security prior to recovering the amortized cost basis, the entire fair value adjustment will immediately be recognized in the consolidated statement of (loss) income with no corresponding allowance for credit losses. Realized gains and losses and credit losses, if any, on available-for-sale securities are included in interest income (expense), based on the specific identification method. Available-for-sale securities are also adjusted for amortization of premiums and accretion of discounts to maturity, with such amortization and accretion included within interest income.

Marketable securities with remaining maturities of less than one year from the balance sheet date are classified as short-term investments and greater than one year from the balance sheet date are classified as long-term investments.

Equity Securities

The Company’s long-term investments include equity securities acquired for strategic purposes or in connection with licensing and collaboration agreements. As the Company's investments in equity securities do not have readily determinable fair value, they are carried at cost, less any impairment, including any adjustments resulting from observable price changes (note 5).

Accounts Receivable and Expected Credit Losses

Accounts receivable are recorded at invoiced amounts, net of any allowance for expected credit losses. The allowance for expected credit losses is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable.

The Company evaluates the collectability of accounts receivable on a regular basis based upon various factors including the financial condition and payment history of customers, an overall review of collections experience on other accounts and economic factors or events expected to affect future collections experience. Expected credit losses on our accounts receivable were immaterial as at December 31, 2023 and 2022.

Financial Instruments

The Company evaluates financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification each reporting period. This determination requires the Company to make subjective judgments as to the significance of inputs used in determining fair value and where such inputs lie within the fair value hierarchy.

Fair Value Measurements

The Company measures certain financial instruments and other items at fair value.

To determine fair value, the Company uses a fair value hierarchy that prioritizes the inputs, assumptions and valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows:

• Level 1 inputs are unadjusted quoted market prices for identical instruments available in active markets.

• Level 2 inputs are inputs other than Level 1 prices, such as prices for a similar asset or liability that are observable either directly or indirectly. If the asset or liability has a contractual term, the input must be observable for substantially the full term. An example includes quoted market prices for similar assets or liabilities in active markets.

• Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assessment about market assumptions that would be used to price the asset or liability.

Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy.

The Company’s financial instruments consist of cash and cash equivalents, short-term and long-term investments in marketable and other securities, accounts receivable, accounts payable and accrued liabilities, contingent consideration, finance and operating lease obligations, and other long-term liabilities.

The carrying values of cash and cash equivalents, accounts receivable and accounts payable and accrued liabilities approximate their fair values due to the near-term maturities of these financial instruments. All marketable securities are classified as available-for-sale and are recorded at fair value. As at December 31, 2023, long-term investments in equity securities of private entities are accounted for as available for sale at their fair values. Other long-term liabilities for contingent consideration related to business acquisitions are recorded at fair value on the acquisition date and are adjusted quarterly for changes in fair value. Changes in the fair value of contingent consideration liabilities can result from changes in anticipated milestone payments and changes in assumed discount periods and rates. These inputs are unobservable in the market and therefore categorized as level 3 inputs as defined above.

Foreign Currency Risk

The Company incurs certain operating expenses in currencies other than the U.S. dollar and accordingly is subject to foreign exchange risk due to fluctuations in exchange rates. The Company does not use derivative instruments to hedge exposure to foreign exchange risk and therefore assumes the risk of future gains or losses in its consolidated statements of (loss) income. At December 31, 2023, the Company’s net monetary assets denominated in Canadian dollars were $1,392 (C$1,844).

The operating results and financial position of the Company are reported in U.S. dollars in the Company’s consolidated financial statements. The fluctuation of the U.S. dollar relative to the Canadian dollar and other foreign currencies will have an impact on the reported balances for net assets, net loss and stockholders’ equity in the Company’s consolidated financial statements.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents, short-term investments, long-term investments and accounts receivable. Cash and cash equivalents and investments in marketable securities are invested in accordance with the Company’s cash investment policy with the primary objective being the preservation of capital and maintenance of liquidity. The cash investment policy includes guidelines on the quality of

financial instruments and defines allowable investments that the Company believes minimizes the exposure to concentration of credit risk. The Company limits its exposure to credit loss by placing its cash and cash equivalents and investments with high credit quality financial institutions.

Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s short-term cash requirements are primarily to settle its financial liabilities, which consist primarily of accounts payable and accrued liabilities falling due within 45 days and current portion of lease obligations falling due within the next 12 months, with medium term requirements to invest in property and equipment and research and development. The Company’s principal sources of liquidity to settle its financial liabilities are cash, cash equivalents, short-term and long-term investments, collection of accounts receivable relating to research collaboration and license agreements and additional public equity offerings as required. The Company believes that these principal sources of liquidity are sufficient to fund its operations for at least the next 12 months.

Deferred Financing Fees

Deferred financing fees consist of amounts charged by underwriters, attorneys, accountants and printers that are directly attributable to future financing transactions that are probable to occur. These costs are deferred and subsequently charged against the gross proceeds of the related financing transaction upon closing of such transaction.

Segment Information

The Company operates and manages its business in one segment, which is the discovery, development and commercialization of next-generation multifunctional biotherapeutics. Operating segments are defined as components of an enterprise about which separate discrete information is available for the chief operating decision maker, or decision making group, in deciding how to allocate resources and assessing performance.

Property and Equipment

Property and equipment are recorded at cost net of accumulated depreciation. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in earnings. Repairs and maintenance costs are expensed as incurred.

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the lease term or useful life

Property and equipment acquired or disposed of during the year are depreciated proportionately for the period they are in use.

Leases

The Company accounts for leases in accordance with ASC 842 Leases (“ASC 842”). The Company determines if an arrangement contains a lease at inception. Right-of-use (“ROU”) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from that lease. For leases with a term greater than 12 months, ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The lease term includes the option to extend the lease when it is reasonably certain the Company will exercise that option. When available, the Company uses the rate implicit in the lease to discount lease payments to present value. In the case the implicit rate is not available, the Company uses its incremental borrowing rate based on information available at the lease commencement date, to determine the present value of lease payments.

Patents and Intellectual Property Costs

Costs incurred to acquire patents and to prosecute and maintain intellectual property rights are expensed as incurred to general and administrative expense due to the uncertainty surrounding the drug development process and the uncertainty of future benefits. Patents and intellectual property acquired from third parties are capitalized and amortized over the remaining life of the patent, if related to approved products or if there are alternative future uses for the underlying technology. No patent or intellectual property costs have been capitalized to date.

Impairment of Long-Lived Assets

The Company assesses the recoverability of its long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset or group of assets. If carrying value exceeds the sum of undiscounted cash flows, the Company then determines the fair value of the underlying asset. Any impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the estimated fair value of the asset or asset group. As of December 31, 2023 and 2022, the Company determined that there were no indicators of impairment of long-lived assets.

Government Grants and Credits

Government grants are recognized where there is reasonable assurance that the grant will be received and all associated conditions will be complied with. Reimbursements of eligible research and development expenditures pursuant to government assistance programs are recorded as reductions of research and development costs when the related costs have been incurred and there is reasonable assurance regarding collection of the claim.

Grant claims not settled by the balance sheet date are recorded as receivables, provided their receipt is probable. The determination of the amount of the claim, and hence the receivable amount, requires management to make calculations based on its interpretation of eligible expenditures in accordance with the terms of the programs. The reimbursement claims submitted by the Company are subject to review by the relevant government agencies. The Company has used its best judgment and understanding of the related program agreements in determining the receivable amount.

The Company participates in SR&ED and Research Tax Credit Programs, two federal tax incentive programs that encourage Canadian and U.S. businesses to conduct research and development in Canada and in United States, respectively. The benefits of investment tax credits for scientific research and development expenditures are recognized in the year the qualifying

expenditure is made provided there is reasonable assurance of recoverability. The refundable portion of investment tax credits are recorded as reductions to research and development expenditures.

The Company also participated in the Canada Emergency Wage Subsidy (“CEWS”) and Canada Emergency Rent Subsidy (“CERS”) programs announced by the Government of Canada in April 2020, in order to help employers keep and/or return Canadian-based employees to payrolls in response to challenges posed by the COVID-19 pandemic. The Company recognized CEWS and CERS grants when it is probable that it complied with relevant eligibility requirements and conditions of the grant and that the grant would be received. These grants are recorded as reductions to wage and rent expenditures in 2022 and 2021.

Both CEWS and CERS programs ended in 2021, with application deadlines in 2022.

Research and Development Costs

Research and development costs are expensed as incurred and include costs that the Company incurs for its own and for the Company’s strategic partners’ research and development activities. These costs primarily consist of expenses incurred under agreements with contract research organizations on the Company’s behalf, investigative sites and consultants that conduct the Company’s clinical trials, the cost of acquiring and manufacturing clinical trial materials and other allocated expenses, the cost of acquired research patents and intellectual property that do not meet the requirements for capitalization, employee related expenses, including salaries and benefits, stock-based compensation expense, and costs associated with nonclinical activities and regulatory approvals.

Clinical Trial Expense Accruals

Clinical trial expenses represent a significant component of research and development expenses and the Company outsources a significant portion of these activities to third party contract research organizations. Third-party clinical trial expenses include investigator fees, site costs, clinical research organization costs and other trial-related vendor costs. As part of preparing the consolidated financial statements, the Company estimates accrued liabilities for services that have been performed by clinical research organizations or investigator sites but have not yet been invoiced to the Company. When making these estimates, the Company uses operational and contractual information from third party service providers and operational data from internal personnel.

Income Taxes

The Company accounts for income taxes using an asset and liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the extent of a valuation allowance. The recognition of uncertain tax positions is evaluated based on whether it is considered more likely than not that the position taken, or expected to be taken, on a tax return will be sustained upon examination through litigation or appeal. For those positions that meet the recognition criteria, they are measured as the largest amount that is more than 50% likely to be realized upon ultimate settlement.

Stock-Based Compensation

The Company recognizes stock-based compensation expense on equity and liability classified stock-based awards granted to employees, directors, and certain consultants. The Company measures the cost of such awards based on the fair value of the award, net of estimated forfeitures, and recognizes stock-based compensation expense in the consolidated statements of income (loss) and comprehensive income (loss) on a straight-line basis over the requisite service period. The requisite service period generally equals the vesting period of the awards. The fair values of stock option awards are estimated using the Black-Scholes option pricing model which uses various inputs including estimated fair value of the Company’s underlying common stock at the grant date, expected term, estimated volatility, risk-free interest rate and expected dividend yields of the Company’s common stock. The Company applies an estimated forfeiture rate derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, adjustments to compensation expense may be required in future periods. The fair value of restricted stock units (“RSU”) is measured using the per share fair value of the Company’s common stock on the dates of grant.

Equity classified awards are measured using their grant date fair value. Liability classified awards are initially measured using their grant date fair value and are subsequently remeasured at fair value at each balance sheet date until exercised or cancelled, with changes in fair value recognized as compensation cost (ASC 718 awards) or other (expense) income (ASC 815 awards) for

the period, while fair value changes below the grant date fair value of the original awards are recorded in additional paid-in capital.

Under ASC 718 Compensation—Stock Options (“ASC 718”), warrants or stock options with exercise price which is not denominated in: (a) the currency of a market in which a substantial portion of the Company’s equity securities trades, (b) the currency in which the individual’s pay is denominated, or (c) the Company’s functional currency, are required to be classified as liabilities. For awards accounted for under ASC 815 Derivatives and Hedging (“ASC 815”), any warrant or option that provides for an exercise price which is not denominated in the Company’s functional currency is required to be classified as a liability.

The Company has an employee stock purchase plan which is considered compensatory. Accordingly, the Company recognizes compensation expense on these awards based on their estimated grant date fair value using the Black-Scholes option pricing model. The Company recognizes compensation expense in the consolidated statements of loss and comprehensive loss on a straight-line basis over the requisite service period.

Business Combination and Goodwill

Business Combinations and Goodwill

Business combinations are accounted for using the acquisition method. The fair value of total purchase consideration is allocated to the fair values of identifiable tangible and intangible assets acquired and liabilities assumed, with the remaining amount being classified as goodwill. All assets, liabilities and contingent liabilities acquired or assumed in a business combination are recorded at their fair values at the date of acquisition. If the Company’s interest in the fair value of the acquiree’s net identifiable assets exceeds the cost of the acquisition, the excess is recognized in earnings or loss immediately. Transaction costs that are incurred in connection with a business combination, other than costs associated with the issuance of debt or equity securities, are expensed as incurred.

Goodwill is evaluated for impairment on an annual basis or more frequently if an indicator of impairment is present (note 6). As part of the impairment evaluation, the Company may elect to perform an assessment of qualitative factors. If this qualitative assessment indicates that it is more likely than not that the fair value of the reporting unit that includes the goodwill is less than its carrying value, then a quantitative impairment test would be prepared to compare the fair value to the carrying value and record an impairment charge if the carrying value exceeds the fair value.

Acquired In-Process Research and Development (IPR&D) and Definite-lived Intangible Assets

Acquired IPR&D represents the fair value assigned to research and development assets that have not reached technological feasibility. IPR&D is classified as an indefinite-lived intangible asset and is not amortized. IPR&D becomes definite-lived upon the completion or abandonment of the associated research and development efforts. All research and development costs incurred subsequent to the acquisition of IPR&D are expensed as incurred. Indefinite-lived intangible assets are reviewed for impairment on an annual basis or more frequently if an indicator of impairment is present. The Company may first perform a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test.

Definite-lived intangible assets include computer software and a research license and are amortized on a basis which reflects the pattern in which the economic benefits are consumed. Amortization begins when the assets are put into use. If there is an event indicating that the carrying value of a definite-lived intangible asset may be impaired, then the Company will perform an impairment test. When an impairment test is performed, if the carrying value exceeds the recoverable value, based on the sum of undiscounted future cash flows, then such asset is written down to its fair value.

The Company records amortization using the straight-line method over the estimated useful lives of the definite-lived intangible assets as follows:


Asset Class						Rate
Software						3 years
Licensing agreements						Shorter of the licensing term or useful life

Net income (loss) per share

Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the year. Diluted net income (loss) per share attributable to common stockholders is computed by adjusting net income (loss) attributable

to common stockholders to reallocate undistributed earnings based on the potential impact of dilutive securities, including outstanding stock options and warrants. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the diluted net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the year, including potential dilutive shares of common stock assuming the dilutive effect of outstanding instruments. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants and warrants. ASC 260 Earnings Per Share requires an adjustment to the numerator for any income or loss related to liability classified warrants and stock options, if dilutive, if they are presumed to be share settled.

Recent accounting pronouncements not yet adopted

The Company has reviewed recent accounting pronouncements and concluded that they are either not applicable, or that no material impact is expected on the consolidated financial statements as a result of future adoption.

Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following:


	December 31,
	2023		2022
Trade payables	$	6,212	$	7,863
Accrued research and development expenses	26,661		39,358
Goods and services tax payable	—		16,244
Employee compensation and vacation accruals	6,153		14,365
Accrued legal and professional fees	3,707		7,799
Liability for contingent consideration (note 16)	1,570		—
Other	729		1,839
Total	$	45,032	$	87,468

Schedule of Other Long-term Liabilities

Other long-term liabilities consisted of the following:


	December 31,
	2023		2022
Liability for contingent consideration (note 16)	$	308	$	1,248
Liability from in-licensing agreements	747		1,047
Finance lease liability	92		124
Other	554		682
Total	$	1,701	$	3,101

Research, Collaboration and Licensing Agreements - License Agreement with Iconic Therapeutics, Inc. (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended			67 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)			$ 76,012	$ 412,482	$ 26,680
Iconic Therapeutics Inc \| Research and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Portion of fee received		$ 4,000
Option fee, total		$ 20,000
Option fee, one time fee	$ 5,000
Iconic Therapeutics Inc \| Milestone Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)						$ 1,000

- Definition

+ References

+ Details

Commitment and Contingencies - Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted assessment of the likelihood of the milestones
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability, measurement input	0.335	0.163
Weighted average estimated period for achievement of milestones
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average estimated period for achievement of milestones	11 months 1 day	1 year 4 months 9 days
Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business combination, contingent consideration, liability, measurement input	0.170	0.120

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Detail)	Dec. 31, 2023
Computer hardware
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	3 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	5 years
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	7 years

Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Liabilities

Accounts payable and accrued liabilities consisted of the following:


	December 31,
	2023		2022
Trade payables	$	6,212	$	7,863
Accrued research and development expenses	26,661		39,358
Goods and services tax payable	—		16,244
Employee compensation and vacation accruals	6,153		14,365
Accrued legal and professional fees	3,707		7,799
Liability for contingent consideration (note 16)	1,570		—
Other	729		1,839
Total	$	45,032	$	87,468

Other long-term liabilities consisted of the following:


	December 31,
	2023		2022
Liability for contingent consideration (note 16)	$	308	$	1,248
Liability from in-licensing agreements	747		1,047
Finance lease liability	92		124
Other	554		682
Total	$	1,701	$	3,101

Leases - Additional Information (Detail)	12 Months Ended
Leases - Additional Information (Detail)	Dec. 31, 2023 USD ($) renewalOption	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Operating lease payments	$ 4,896,000
Impairment loss	$ 0	$ 0	$ 0
British Columbia \| Building
Number of renewal options \| renewalOption	2
Renewal term	5 years

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 segment program
Schedule Of Accounting Policies [Line Items]
Number of operating segments \| segment	1
Federal Tax Incentive
Schedule Of Accounting Policies [Line Items]
Number of operating programs \| program	2

Stockholders' Equity - Schedule of Non-Vested Stock Option Activity (Detail)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2023 $ / shares shares
Number of options
Non-vested, beginning balance (in shares)	772,540	772,540
Options granted (in shares)	0	0
Options vested (in shares)	(362,479)	(362,479)
Options forfeited and cancelled (in shares)	(130,306)	(130,306)
Non-vested, ending balance (in shares)	279,755	279,755
Weighted-average grant date fair value
Non-vested, beginning balance (in dollars per share) \| (per share)	$ 8.41	$ 11.40
Options granted (in dollars per share) \| (per share)	0	0
Options vested (in dollars per share) \| (per share)	8.76	11.61
Options forfeited and cancelled (in dollars per share) \| (per share)	9.44	12.51
Non-vested, ending balance (in dollars per share) \| (per share)	$ 8.04	$ 10.65
Share-based Payment Arrangement, Option
Number of options
Non-vested, beginning balance (in shares)	3,011,283	3,011,283
Options granted (in shares)	2,691,325	2,691,325
Options vested (in shares)	(1,507,708)	(1,507,708)
Options forfeited and cancelled (in shares)	(1,057,317)	(1,057,317)
Non-vested, ending balance (in shares)	3,137,583	3,137,583
Weighted-average grant date fair value
Non-vested, beginning balance (in dollars per share) \| $ / shares	$ 9.41
Options granted (in dollars per share) \| $ / shares	5.23
Options vested (in dollars per share) \| $ / shares	8.89
Options forfeited and cancelled (in dollars per share) \| $ / shares	9.83
Non-vested, ending balance (in dollars per share) \| $ / shares	$ 5.93

Research, Collaboration and Licensing Agreements - 2018 Licensing Agreement with Daiichi Sankyo (Details) - USD ($)		12 Months Ended			67 Months Ended
	May 30, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 76,012,000	$ 412,482,000	$ 26,680,000
Daiichi Sankyo, Co., Ltd \| Upfront Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					$ 18,000,000
Daiichi Sankyo, Co., Ltd \| Commercial and Development Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					$ 0
Daiichi Sankyo, Co., Ltd \| Eligible to Receive \| License Agreement \| Arrangement Other than Collaborative \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty agreement term	10 years
Daiichi Sankyo, Co., Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Arrangement Other than Collaborative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 484,700,000
Daiichi Sankyo, Co., Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Arrangement Other than Collaborative \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	63,400,000
Daiichi Sankyo, Co., Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Arrangement Other than Collaborative \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 170,000,000
Daiichi Sankyo, Co., Ltd \| Maximum \| Eligible to Receive \| License Agreement \| Arrangement Other than Collaborative \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty percentage earned from sales of product	10.00%

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	85
Auditor Name	KPMG LLP
Auditor Location	Vancouver, Canada

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

a.Equity Offerings

2023 Private Placement

On December 28, 2023, the Company completed a private placement pursuant to which the Company sold 5,086,521 pre-funded warrants to purchase 5,086,521 shares of common stock at $9.8299 per pre-funded warrant. The Company received gross proceeds of $50,000 and net proceeds were $49,862, after expenses.

2023 ATM financing

On June 16, 2023, the Company sold 3,350,000 shares of common stock pursuant to the Company's at-the-market sale program, at $8.12 per common share. Net proceeds were $26,233 after underwriting commissions and offering expenses.

2022 Public Offering

On January 31, 2022, the Company closed a public offering pursuant to which the Company sold 11,035,000 common shares, including the sale of 1,875,000 common shares to the underwriters upon their full exercise of their over-allotment option, at $8.00 per common share and 3,340,000 pre-funded warrants (note 10c) in lieu of common shares at $7.9999 per pre-funded warrant. Net proceeds were $107,534, after underwriting discounts, commissions and offering expenses.

b.Authorized Share Capital and Preferred Stock

The Company’s authorized share capital consists of 1,000,000,000 shares of stock, consisting of (i) 900,000,000 shares of common stock, par value $0.00001 per share, and (ii) 100,000,000 shares of preferred stock, par value $0.00001 per share.

In connection with the Plan of Arrangement, the Company issued to Computershare Trust Company of Canada, a trust company existing under the laws of Canada (the “Share Trustee”), one share of the Company's preferred stock, par value $0.00001 per share, which has certain variable voting rights in proportion to the number of Exchangeable Shares outstanding (the “Special Voting Preferred Stock”), enabling the Share Trustee to exercise voting rights for the benefit of the Exchangeable Shareholders.

Immediately prior to the completion of the Redomicile Transactions, there were 61,699,387 Zymeworks BC Inc. common shares issued and outstanding. In connection with the consummation of the Plan of Arrangement, 60,274,854 shares of Common Stock and 1,424,533 Exchangeable Shares were issued to former Zymeworks BC shareholders. As of December 31, 2023, there were 651,219 Exchangeable Shares held by former Zymeworks BC shareholders (December 31, 2022: 1,424,533). The Company will issue shares of its common stock as consideration when a holder of Exchangeable Shares calls for Exchangeable Shares to be retracted by ExchangeCo, when ExchangeCo redeems Exchangeable Shares from the holder, or when CallCo purchases Exchangeable Shares from the Exchangeable Shareholder under CallCo’s overriding call rights. These Exchangeable Shares and the Special Voting Preferred Stock, when taken together, are similar in substance to the Company’s common stock.

c.Pre-Funded Common Share Warrants

In connection with the public offerings completed on June 24, 2019, January 27, 2020 and January 31, 2022 and private placement completed on December 28, 2023 (note 10a), the Company issued a total of 13,668,482 pre-funded warrants which granted holders of warrants the right to purchase up to 13,668,482 common shares or shares of common stock of the Company, at an exercise price of $0.0001 per share.

The pre-funded warrants are exercisable by the holders at any time on or after the original issue date. The pre-funded warrants do not expire unless they are exercised or settled in accordance with the pre-funded warrant agreement. As the pre-funded warrants meet the condition for equity classification, proceeds from issuance of the pre-funded warrants, net of any transaction costs, are recorded in additional paid-in capital. Upon exercise of the pre-funded warrants, the historical costs recorded in additional paid-in capital along with exercise price collected from holders will be recorded in common shares.

On August 23, 2022, October 25, 2022, October 27, 2022 and October 19, 2023, a total of 8,581,961 pre-funded warrants were exercised in exchange for issuance of 8,581,868 common shares. As a result of the December 28, 2023 private placement, as of December 31, 2023, there were 5,086,521 pre-funded warrants outstanding (December 31, 2022: 2,079,224).

d.Adoption of a Shareholder Rights Plan

On June 9, 2022, the board of directors authorized and declared a dividend distribution of one right (each, a “Right”) for each outstanding common share of the Company to shareholders of record as of the close of business on June 21, 2022. Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series A Participating Preferred Share, of the Company, at an exercise price of $74.00, subject to adjustment. The complete terms of the Rights are set forth in a Preferred Shares Rights Agreement (the “Rights Plan”), dated as of June 9, 2022, between the Company and Computershare Trust Company, N.A., as rights agent.

In general terms, the Rights Plan works by imposing a significant penalty upon any person or group that acquires 10 percent or more (or 20 percent or more in the case of certain institutional investors who report their holdings on Schedule 13G) of the common shares without the approval of the board of directors. As a result, the overall effect of the Rights Plan and the issuance of the Rights may be to render more difficult or discourage a merger, amalgamation, arrangement, take-over bid, tender or exchange offer or other business combination involving the Company that is not approved by the board of directors. However, neither the Rights Plan nor the Rights should interfere with any merger, amalgamation, arrangement, take-over bid, tender or exchange offer or other business combination approved by the board of directors. The issuance of Rights does not affect reported earnings per share.

On October 12, 2022, Zymeworks Inc. (a Delaware corporation) and Computershare Trust Company, N.A., as rights agent, entered into a Preferred Stock Rights Agreement (the “New Rights Plan”) and on October 13, 2022, the board of directors of Zymeworks Inc. (a Delaware corporation) declared a dividend distribution of one right (each, a “Right”) for each share of common stock outstanding at 12:01 a.m. (Pacific Time) on October 13, 2022 (the “Record Date”) and for each share of common stock that becomes outstanding, including any shares of common stock issued in connection with the Redomicile Transactions and as consideration for the Exchangeable Shares, as applicable, between the Record Date and the earlier of the Distribution Date (as defined in the New Rights Plan) and the expiration of the Rights. Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series B Participating Preferred Stock, par value $0.00001 per share, of the Company (“ Series B Preferred Stock”) at an exercise price of $74.00 per one one-thousandth of a share of Series

B Preferred Stock, subject to adjustment. On October 13, 2022, the Rights Plan expired. The New Rights Plan has substantively similar terms as the Rights Plan.

On June 8, 2023 the New Rights Plan expired by its terms. Upon effectiveness of the Company's filing of a Certificate of Elimination with the Secretary of State of the State of Delaware on June 12, 2023, the shares that were previously designated as Series B Preferred Stock resumed the status of authorized but unissued shares of preferred stock of the Company.

e.Stock-Based Compensation

In connection with redomicile transactions in 2022, Zymeworks BC. assigned to the Company, and the Company assumed, all of Zymeworks BC’s rights and obligations under each of the stock-based compensation plans, as described below, and such plans became the Company’s stock-based compensation plans, with each outstanding award assumed by the Company and deemed exchanged for equivalent awards of the Company, except that the security issuable upon exercise or settlement, as applicable, will be shares of common stock of the Company rather than common shares of Zymeworks BC.

Original Stock Option Plan

On July 14, 2006, the shareholders of the Company approved an employee stock option plan (the “Original Plan”). The total number of options outstanding is not to exceed 20% of the issued common shares of the Company. Options granted under the Original Plan are exercisable at various dates over their 10-year life. The exercise prices of the Company’s stock options under the Original Plan are denominated in Canadian dollars. Upon the effectiveness of the Company’s New Plan described below, no further options were issuable under the Original Plan. However, all outstanding options granted under the Original Plan remain outstanding, subject to the terms of the Original Plan and the applicable grant documents, until such outstanding options are exercised or they terminate or expire by their terms.

New Plan and Inducement Plan

On April 10, 2017, the Company’s shareholders approved a new stock option plan, which became effective immediately prior to the consummation of the Company’s initial public offering (“IPO”). This plan allows for the grant of options, and also permitted the Company to grant incentive stock options (“ISOs”), within the meaning of Section 422 of the Internal Revenue Code, to its employees, until the shares reserved for issuance of ISOs were depleted. On June 7, 2018, the Company’s shareholders approved an amendment and restatement of this plan (this plan, as amended and restated, the “New Plan”), which includes an article that allows the Company to grant restricted shares, RSU and other share-based awards, in addition to stock options. As of December 31, 2023, 4,594,639 shares of common stock were available for future award grants under the New Plan (December 31, 2022: 3,205,132 shares of common stock).

On January 5, 2022, board of directors approved the Zymeworks Inc. Inducement Stock Option and Equity Compensation Plan (the "Inducement Plan") and reserved 750,000 of the Company’s common shares for issuance pursuant to equity awards granted thereunder. As of December 31, 2023, 50,000 shares of common stock were available for future award grants under this plan (December 31, 2022: 50,000).

RSUs

The following table summarizes the Company's RSU activity under the New Plan:


	Number of RSUs	Weighted- average grant date fair value ($)
Outstanding, December 31, 2021	354,269	25.85
Granted	110,400	8.67
Vested and settled	(93,966)	25.01
Forfeited	(143,480)	26.63
Outstanding, December 31, 2022	227,223	17.36
Granted	864,100	8.03
Vested and settled	(100,949)	18.69
Forfeited	(218,961)	10.65
Outstanding, December 31, 2023	771,413	8.63

As of December 31, 2023, there was $2,236 of unamortized RSU expense that will be recognized over a weighted average period of 1.62 years.

Stock Options

The following table summarizes the Company’s stock options granted in Canadian dollars under the Original Plan and the New Plan:


	Number of Options	Weighted- Average Exercise Price (C$)	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value (C$)	Aggregate intrinsic value ($)
Outstanding, December 31, 2021	2,488,655	26.15	20.70	6.24	7,919	6,224
Granted	917,035	8.67	6.76
Expired	(54,221)	17.30	13.08
Exercised	(30,163)	7.60	5.79
Forfeited	(1,174,165)	26.43	20.60
Outstanding, December 31, 2022	2,147,141	19.02	14.03	6.29	1,460	1,078
Granted	—	—	—
Expired	(29,158)	18.29	13.55
Exercised	(339,230)	11.31	8.44
Forfeited	(289,275)	25.20	18.76
Outstanding, December 31, 2023	1,489,478	19.59	14.39	5.50	2,987	2,255
December 31, 2023
Exercisable	1,286,234	20.46	15.45	4.77	1,814	1,369
Vested and expected to vest	1,463,464	19.70	14.87	5.46	2,867	2,165

The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan and the Inducement Plan:


	Number of Options	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value ($)
Outstanding, December 31, 2021	4,916,914	26.59	7.93	5,555
Granted	2,996,898	8.32
Expired	—	—
Exercised	(9,057)	7.17
Forfeited	(2,339,610)	25.84
Outstanding, December 31, 2022	5,565,145	17.10	7.86	1,928
Granted	2,691,325	8.25
Expired	—	—
Exercised	(302,052)	7.39
Forfeited	(1,885,176)	19.39
Outstanding, December 31, 2023	6,069,242	12.97	7.67	9,213
December 31, 2023
Exercisable	2,925,788	17.09	6.23	2,377
Vested and expected to vest	5,720,112	13.24	7.49	8,451

During the year ended December 31, 2023, the Company received cash proceeds of $5,006 (2022: $255 and 2021: $6,428) from stock options exercised. The stock options outstanding at December 31, 2023 expire at various dates from January 1, 2024 to December 10, 2033.

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in Canadian dollars is as follows:


	Number of options	Weighted-average grant date fair value (C$)	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2022	772,540	11.40	8.41
Options granted	—	—	—
Options vested	(362,479)	11.61	8.76
Options forfeited and cancelled	(130,306)	12.51	9.44
Non-vested, December 31, 2023	279,755	10.65	8.04

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in U.S. dollars is as follows:


	Number of options	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2022	3,011,283	9.41
Options granted	2,691,325	5.23
Options vested	(1,507,708)	8.89
Options forfeited and cancelled	(1,057,317)	9.83
Non-vested, December 31, 2023	3,137,583	5.93

The estimated fair values of options granted to officers, directors, employees and consultants are amortized over the relevant vesting periods. Stock-based compensation expense for equity classified instruments, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments (note 2), are recorded in research and development expense, general and administration expense and finance expense as follows:


	Year Ended December 31,
	2023		2022		2021
Research and development expense:
Stock-based compensation expense for equity classified instruments	$	2,112	$	3,174	$	20,090
Change in fair value of liability classified instruments	292		(781)		(4,646)
	$	2,404	$	2,393	$	15,444
General and administrative expense:
Stock-based compensation expense for equity classified instruments	$	6,621	$	4,102	$	18,184
Change in fair value of liability classified instruments	(1,305)		(2,893)		(23,758)
	$	5,316	$	1,209	$	(5,574)
Finance income:
Change in fair value of liability classified instruments	(5)		(11)		(129)
	$	(5)	$	(11)	$	(129)

Amounts for equity classified instruments above include stock-based compensation expense relating to RSUs of $3,369 for the year ended December 31, 2023 (2022: $913 and 2020: $3,101).

For the year ended December 31, 2023, stock-based compensation expense of $8,196 was recorded in additional paid-in capital and recovery of $630 was recorded in the liability classified stock options and ESPP liability accounts (2022: $9,516 in additional paid-in capital and recovery of $3,261 in liability classified stock options and ESPP liability accounts, 2021: $38,275 in additional paid-in capital and recovery of $27,517 in liability classified stock options and ESPP liability accounts).

The estimated fair value of stock options granted under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Year ended December 31,
	2023		2022		2021
Dividend yield	0	%	0	%	0	%
Expected volatility	68.1	%	77.2	%	80.3	%
Risk-free interest rate	3.94	%	2.12	%	1.02	%
Expected average life of options	5.89 years		5.93 years		6.05 years

Expected Volatility — Volatility is a measure of the amount by which a financial variable such as a share price has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. The Company has calculated the expected volatility using the volatility of its own stock and that of several public entities of similar complexity and stage of development and calculates historical volatility using the volatility of these companies.

Risk-Free Interest Rate — This rate is from the Government of Canada and U.S. Federal Reserve marketable bonds for the month prior to each option grant during the year, having a term that most closely resembles the expected life of the option.

Expected Term — This is the period of time that the options granted are expected to remain unexercised. Options granted have a maximum term of ten years. The Company uses the simplified method to calculate the average expected term, which represents the average of the vesting period and the contractual term.

The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at December 31, 2023 and 2022 are as follows:


	December 31, 2023		December 31, 2022
Dividend yield	0	%	0	%
Expected volatility	50.6	%	78.6	%
Risk-free interest rate	3.80	%	4.00	%
Expected average option term	0.91 years		1.90 years
Number of liability classified stock options outstanding	442,198		721,985

The total intrinsic value of stock options exercised during the years ended December 31, 2023, 2022 and 2021 was $758, $53 and $10,998 respectively. At December 31, 2023, the unamortized compensation expense related to unvested options was $8,424. The remaining unamortized compensation expense as of December 31, 2023 will be recognized over a weighted-average period of 1.6 years.

f.Employee Stock Purchase Plan ("ESPP")

The ESPP, as amended, allows eligible employees to acquire common shares at a discounted purchase price of the lesser of (i) 85% of the market price of a common share on the first day of the applicable purchase period and (ii) 85% of the market price of a common share on the purchase date. The ESPP qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code for employees who are United States taxpayers.

As this plan is considered compensatory, the Company recognizes compensation expense on these awards based on their estimated grant date fair value using the Black-Scholes option pricing model. The Company recognizes compensation expense in the consolidated statements of (loss) income and comprehensive (loss) income on a straight-line basis over the requisite service period. For the year ended December 31, 2023, the Company recorded compensation expense of $387 (2022: $424, 2020: 803) in research and development expense and general and administrative expense accounts. As of December 31, 2023, the total amount contributed by ESPP participants and not yet settled is $384 (December 31, 2022: $287).

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other (Expense) Income, net -Schedule Of Other Non operating Income Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Foreign exchange (loss) gain	$ (1,185)	$ 1,152	$ 1,191
Other	291	(42)	118
Total other income, net	$ (894)	$ 1,110	$ 1,309

Research, Collaboration and Licensing Agreements - Contract Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract assets	$ 0	$ 3,000,000
Contract liabilities	36,640,000	32,941,000
Deferred revenue and other consideration (note 12)	$ 3,699,000	$ 2,353,000

Leases - Schedule of Balance Sheet Classification of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating lease liabilities:
Current portion	$ 4,261	$ 3,322
Long-term portion	22,369	24,667
Total operating lease liabilities	26,630	27,989
Finance lease liabilities:
Current portion included in other current liabilities	30	16
Long-term portion included in other long-term liabilities	$ 92	$ 124
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities
Total finance lease liabilities	$ 122	$ 140
Total lease liabilities	$ 26,752	$ 28,129
Weighted average remaining lease term:
Operating leases	6 years 8 months 12 days	7 years 9 months 18 days
United States of America, Dollars
Weighted average discount rate:
Discount rate	3.60%	2.80%
Canada, Dollars
Weighted average discount rate:
Discount rate	4.80%	4.80%

Restructuring	12 Months Ended
Restructuring	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the year ended December 31, 2022, the Company completed a restructuring program (the “Restructuring”) to focus on achieving its key strategic priorities and to help create a more cost-efficient organization. In connection with the Restructuring, the Company made changes to its management team and reduced headcount by approximately 25% by the completion of the Restructuring. During the year ended December 31, 2022, the Company recorded the following costs for the Restructuring: •employee severance and termination benefits of $5,214; •an offsetting non-cash reversal of previously recognized stock-based compensation expenses for unvested stock and RSU awards of $10,381; and •other restructuring charges primarily related to accelerated depreciation and accelerated recognition of rent expense in relation to the shutdown of certain facilities of $2,435 and early termination of certain service contracts of $1,275. Of the net charges, $5,659 expense and $5,516 recovery of stock-based compensation were recorded in research and development expenses, and $3,265 expense and $4,865 stock-based compensation recovery were recorded in general and administrative expenses in the accompanying statements of (loss) income and comprehensive (loss) income for the year ended December 31, 2022. As of December 31, 2023, the net outstanding liability related to employee severance termination benefits and other contract liabilities was nil (December 31, 2022: $678). No costs for the Restructuring were recognized during the year ended December 31, 2023.

Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Unrealized loss on available for sale securities, tax	$ 0	$ 0	$ 0

Research, Collaboration and Licensing Agreements - Jazz Collaboration Agreement (Details) - USD ($)		1 Months Ended		12 Months Ended
	Apr. 25, 2023	Dec. 31, 2022	Nov. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 18, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contract liabilities		$ 32,941,000		$ 36,640,000	$ 32,941,000
Research and development collaborations				76,012,000	412,482,000	$ 26,680,000
Contract liabilities		2,353,000		3,699,000	$ 2,353,000
License And Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration agreement expense				20,100,000
License And Collaboration Agreement \| Jazz \| Zymeworks Zanidatamab Inc.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage interest in subsidiary sold	100.00%
Jazz \| License And Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, maximum regulatory milestone payments							$ 525,000,000
Collaborative arrangement, maximum commercial milestone payments							$ 862,500,000
Contract liabilities				3,699,000
Jazz \| License And Collaboration Agreement \| Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, royalty percentage							10.00%
Jazz \| License And Collaboration Agreement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, royalty percentage							20.00%
Jazz \| Delivery of Licenses, Initial Technology Transfer and BTC Data Transfer \| License And Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from collaboration agreement		325,000,000	$ 50,000,000
Contract liabilities							$ 375,000,000
Research and development collaborations		$ 325,000,000	$ 50,000,000
Jazz \| Commercial and Development Milestones \| License And Collaboration Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				$ 0

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value per share (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common shares, issued (in shares)	70,115,997	63,059,501
Common shares, outstanding (in shares)	70,115,997	63,059,501
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	1	1
Preferred stock, shares outstanding (in shares)	1	1
Exchangeable stock, shares issued (in shares)	651,219	1,424,533
Exchangeable shares, shares outstanding (in shares)	651,219	1,424,533

Government Grants and Credits (Tables)

12 Months Ended

Dec. 31, 2023

Government Grants and Credits [Abstract]

Component of Government Grants and Credits


	Year Ended December 31,
	2023		2022		2021
CEWS and CERS subsidies	$	—	$	130	$	3,402
SR&ED credits, net	99		—		78
Total	$	99	$	130	$	3,480

Other (Expense) Income, net

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Other (Expense) Income, net

Other (expense) income, net consists of the following:


	Year ended December 31,
	2023		2022		2021
Foreign exchange (loss) gain	$	(1,185)	$	1,152	$	1,191
Other	291		(42)		118
	$	(894)	$	1,110	$	1,309

Research, Collaboration and Licensing Agreements - Collaboration and License Agreements with BeiGene, Ltd. (Details)			1 Months Ended			12 Months Ended				61 Months Ended
	Sep. 18, 2023 USD ($)	Nov. 26, 2018 USD ($) Agreement	Dec. 31, 2021 USD ($)	Nov. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)						$ 76,012,000	$ 412,482,000	$ 26,680,000
Contract liabilities						36,640,000	32,941,000			$ 36,640,000
Collaborative Arrangement \| Bei Gene \| License and Collaboration
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 172,000,000
Royalty payments on future global net sales (up to)	19.50%
Royalty percentage earned from sales of product (up to)	20.00%
Percentage of royalty reduction	0.50%
Bei Gene
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contract liabilities						32,941,000	32,941,000			32,941,000
Bei Gene \| Milestone revenue
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)			$ 8,000,000	$ 10,000,000	$ 5,000,000	$ 0	$ 0	$ 8,000,000
Bei Gene \| Commercial and Development Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)										$ 0
Bei Gene \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of agreements \| Agreement		3
Proceeds from collaboration agreement									$ 60,000,000
Fair value of consideration allocated to a group of contracts that were considered as a single contract									40,000,000
Bei Gene \| License Agreement \| Collaborative Arrangement \| ZW25 Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of consideration allocated to a group of contracts that were considered as a single contract		$ 7,100,000
Bei Gene \| Research and License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of consideration allocated to a group of contracts that were considered as a single contract									$ 20,000,000
Bei Gene \| Research and License Agreement \| Collaborative Arrangement \| Bispecific Therapeutic
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		20,000,000
Bei Gene \| Research and License Agreement \| Collaborative Arrangement \| Commercial and Development Milestones \| Bispecific Therapeutic \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 702,000,000

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

Foreign Currency

Use of Estimates

Revenue Recognition

•non-refundable, upfront license and platform technology access fees;

•research, development and regulatory milestone payments;

•research support, development and other payments; and

•royalties and commercial milestone payments.

Non-refundable, upfront license and platform technology access fees

Research, development and regulatory milestone payments

Research and development milestones in the Company’s collaboration agreements may include some, but not necessarily all, of the following types of events:

• completion of preclinical research and development work leading to selection of product candidates;

• initiation of Phase 1, Phase 2 and Phase 3 clinical trials; and

• achievement of certain other technical, scientific or development criteria.

Regulatory milestone payments may include the following types of events:

• marketing approval in major markets, such as the United States, Europe or Japan.

Research support, development and other payments

Supply of clinical trial drugs and comparator drugs

Royalties and commercial milestone payments

Contract assets and liabilities

Contract assets are mainly comprised of trade receivables net of expected credit losses, which includes amounts billed and currently due from customers.

Modifications of contracts with customers

Cash Equivalents

Investments

Marketable Securities

Equity Securities

Accounts Receivable and Expected Credit Losses

Financial Instruments

Fair Value Measurements

The Company measures certain financial instruments and other items at fair value.

• Level 1 inputs are unadjusted quoted market prices for identical instruments available in active markets.

• Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assessment about market assumptions that would be used to price the asset or liability.

Concentration of Credit Risk

At December 31, 2023, the maximum exposure to credit risk for accounts receivable was $19,477, 85% of which was from Jazz Pharmaceuticals Ireland Limited or Jazz Pharmaceuticals, Inc. (subsidiaries of Jazz Pharmaceuticals plc, collectively referred to as “Jazz”) (December 31, 2022: $33,400 73% of which was from Jazz Pharmaceuticals Ireland Limited) and all accounts receivable are due within the next 12 months. As at December 31, 2023 and December 31, 2022, the Company has recognized nominal amounts of provision for expected credit losses in relation to accounts receivable.

Liquidity Risk

Foreign Currency Risk

Deferred Financing Fees

Segment Information

Property and Equipment

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the lease term or useful life

Property and equipment acquired or disposed of during the year are depreciated proportionately for the period they are in use.

Leases

Patents and Intellectual Property Costs

Impairment of Long-Lived Assets

Government Grants and Credits

expenditure is made provided there is reasonable assurance of recoverability. The refundable portion of investment tax credits are recorded as reductions to research and development expenditures.

Both CEWS and CERS programs ended in 2021, with application deadlines in 2022.

Research and Development Costs

Clinical Trial Expense Accruals

Income Taxes

Stock-Based Compensation

the period, while fair value changes below the grant date fair value of the original awards are recorded in additional paid-in capital.

Business Combinations and Goodwill

Acquired In-Process Research and Development (IPR&D) and Definite-lived Intangible Assets

The Company records amortization using the straight-line method over the estimated useful lives of the definite-lived intangible assets as follows:


Asset Class						Rate
Software						3 years
Licensing agreements						Shorter of the licensing term or useful life

Net income (loss) per share

Income Taxes - Schedule of Income Tax Expense (Recovery) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current income tax expense	$ (189)	$ (8,953)	$ (437)
Deferred income tax recovery (expense)	757	(1,940)	953
Income tax recovery (expense)	$ 568	$ (10,893)	$ 516

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Government Grants and Credits - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Government Grants And Credits [Line Items]
Accrued refundable investment tax credits	$ 99
Canada Emergency Wage Subsidy
Government Grants And Credits [Line Items]
Research and development collaborations	0	$ 130	$ 2,805
Canada Emergency Rent Subsidy
Government Grants And Credits [Line Items]
Research and development collaborations	$ 0	$ 0	$ 597

Government Grants and Credits

12 Months Ended

Dec. 31, 2023

Government Grants and Credits [Abstract]

Government Grants and Credits


	Year Ended December 31,
	2023		2022		2021
CEWS and CERS subsidies	$	—	$	130	$	3,402
SR&ED credits, net	99		—		78
Total	$	99	$	130	$	3,480

For the year ended December 31, 2023, the Company recognized refundable investment tax credits of $99 as a reduction of research and development expense. In April 2020, the Government of Canada announced the CEWS and CERS programs for Canadian employers whose businesses were affected by the COVID-19 pandemic. The CEWS and CERS provide a subsidy of up to a certain percentage of eligible employees’ eligible remuneration and eligible rent payments, subject to certain criteria. The Company applied for the CEWS and CERS to the extent it met the requirements to receive the subsidy and recognized nil (2022: $130 and 2021: $2,805) and nil (2022: nil and 2021: $597) in total CEWS and CERS subsidies respectively, as a reduction to salaries and benefits expense and rent expense in research and development expense and general administrative expense in the consolidated statement of (loss) income. Both CEWS and CERS programs ended at the end of 2021 with submission deadlines in 2022.

Commitment and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments

The Company has entered into research collaboration agreements with strategic partners in the ordinary course of operations that may include contractual milestone payments related to the achievement of pre-specified research, development, regulatory and commercialization events and indemnification provisions, which are common in such agreements. Pursuant to the agreements, the Company is obligated to make research and development and regulatory milestone payments upon the occurrence of certain events and royalty payments based on net sales. The maximum amount of potential future indemnification is unlimited, however, the Company currently holds commercial and product liability insurance that limits the Company’s liability and may enable it to recover a portion of any future amounts paid. Historically, the Company has not made any indemnification payments under such agreements and believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to indemnification obligations for any period presented in the consolidated financial statements.

In connection with the Company’s 2016 Kairos acquisition, the Company may be required to make future payments of up to an

aggregate of C$8,500, consisting of (i) a C$2,500 payment when the first patient is dosed in the first Phase 2 trial and (ii) a C$6,000 payment when the first patient is dosed in the first Phase 3 trial, to CDRD Ventures Inc. (“CVI”) upon the direct achievement of certain development milestones for products incorporating certain Kairos intellectual property (such as zanidatamab zovodotin or other product candidates using our ZymeLink technology). In addition, CVI is eligible to receive low single-digit royalty payments from the Company on the net sales of such products. For out-licensed products and technologies incorporating certain Kairos intellectual property, the Company may also be required to pay CVI a mid-single digit percentage of certain future revenue. As of December 31, 2023, the contingent consideration had an estimated fair value of $1,878, which has been recorded in accounts payable and accrued liabilities and in other long-term liabilities on the Company’s consolidated balance sheet (December 31, 2022: $1,248) (note 9). The contingent consideration was calculated using a probability weighted assessment of the likelihood of the milestones being met, a probability adjusted discount rate that reflects the stage of the development and time to complete the development. Contingent consideration is a financial liability and measured at its fair value at each reporting period, with any changes in fair value from the previous reporting period recorded within research and development expenses in the consolidated statement of loss (income).

The following table presents the changes in fair value of the Company’s liability for contingent consideration:


	Liability at the beginning of the period		Increase in fair value of liability for contingent consideration	Amounts paid or transferred to payables	Liability at end of the period
Year ended December 31, 2023	$	1,248	630	—	$	1,878
Year ended December 31, 2022	$	1,498	—	(250)	$	1,248

The following tables present information about the Company’s liability for contingent consideration measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation technique used to determine such fair value:


	December 31, 2023		Level 1		Level 2		Level 3

Liability for contingent consideration	$	1,878	—		—		$	1,878
Total	$	1,878	$	—	$	—	$	1,878


	December 31, 2022		Level 1		Level 2		Level 3

Liability for contingent consideration	$	1,248	—		—		$	1,248
Total	$	1,248	$	—	$	—	$	1,248

The Company used the following assumptions to estimate fair value of contingent consideration liability as of December 31, 2023 and 2022:


	December 31, 2023		December 31, 2022

Weighted assessment of the likelihood of the milestones	33.5	%	16.3	%
Weighted average estimated period for achievement of milestones	0.92 years		1.36 years
Discount rate	17.0	%	12.0	%

Contingencies

From time to time, the Company may be subject to various legal proceedings and claims related to matters arising in the ordinary course of business. The Company does not believe it is currently subject to any material matters where there is at least a reasonable possibility that a material loss may be incurred.

Cash, Cash Equivalents and Investments - Schedule of Available-for-Sale Securities Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contractual maturity of three to four years:
Investments, cost	$ 298,862	$ 92,206
Debt securities, unrealized gain (loss)	56	0
Investments, fair value	298,918	92,206
Short-term investments:
Contractual maturity of one year or less:
Debt securities, amortized cost	216,382	91,320
Debt securities, unrealized gain (loss)	388	0
Debt securities, fair value	216,770	91,320
Short-term investments: \| GICs
Contractual maturity of one year or less:
Debt securities, amortized cost	75,066	91,320
Debt securities, unrealized gain (loss)	0	0
Debt securities, fair value	75,066	91,320
Short-term investments: \| U.S. Treasury notes
Contractual maturity of one year or less:
Debt securities, amortized cost	46,416
Debt securities, unrealized gain (loss)	136
Debt securities, fair value	46,552
Short-term investments: \| Corporate debt securities
Contractual maturity of one year or less:
Debt securities, amortized cost	94,900
Debt securities, unrealized gain (loss)	252
Debt securities, fair value	95,152
Long-term investments:
Contractual maturity of three to four years:
Equity securities, fair value	218	886
Investments, cost	82,480	886
Debt securities, unrealized gain (loss)	(332)	0
Investments, fair value	82,148	$ 886
Long-term investments: \| Corporate debt securities
Contractual maturity of one to three years:
Debt securities, amortized cost	70,181
Debt securities, unrealized gain (loss)	(321)
Debt securities, fair value	69,860
Contractual maturity of three to four years:
Debt securities, amortized cost	12,081
Debt securities, unrealized gain (loss)	(11)
Debt securities, fair value	$ 12,070

Stockholders' Equity - Schedule of Estimated Fair Value of Stock Options Assumptions (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	68.10%	77.20%	80.30%
Risk-free interest rate	3.94%	2.12%	1.02%
Expected average option term	5 years 10 months 20 days	5 years 11 months 4 days	6 years 18 days
Liability Classified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility	50.60%	78.60%
Risk-free interest rate	3.80%	4.00%
Expected average option term	10 months 28 days	1 year 10 months 24 days
Number of liability classified stock options outstanding	442,198	721,985

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consist of the following:


	December 31,
	2023		2022
Research licenses	$	14,936	$	14,936
Computer software	7,878		7,522
Costs for in-progress software implementations	1,717		469
Intangible assets	24,531		22,927
Less accumulated amortization	(16,875)		(14,172)
Intangible assets, net	$	7,656	$	8,755

Amortization expense on intangible assets for the years ended December 31, 2023, 2022 and 2021 was $2,702, $1,015 and $2,793, respectively.

At December 31, 2023, amortization expense on capitalized intangible assets is estimated to be as follows for each of the next five years:


	Amortization expense
2024	$	2,802
2025	2,378
2026	545
2027	213
2028	—
	$	5,938

Research, Collaboration and Licensing Agreements - Research and License Agreement with LEO Pharma A/S (Details) - USD ($)	12 Months Ended				62 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 76,012,000	$ 412,482,000	$ 26,680,000
LEO Pharma \| Upfront Fee \| Research and License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)				$ 5,000,000
LEO Pharma \| Commercial and Development Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					$ 0

- Definition

+ References

+ Details

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands							12 Months Ended			14 Months Ended	31 Months Ended
	Dec. 28, 2023	Jun. 16, 2023	Oct. 13, 2022	Jan. 31, 2022	Jun. 07, 2018	Jul. 14, 2006	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 19, 2023	Jan. 31, 2022	Oct. 12, 2022	Jun. 09, 2022	Jan. 05, 2022
Temporary Equity [Line Items]
Total shares authorized (in shares)							1,000,000,000
Common stock, shares authorized (in shares)							900,000,000	900,000,000
Common stock, par value per share (in dollars per share)							$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)							100,000,000	100,000,000
Preferred stock, par value (in dollars per share)							$ 0.00001	$ 0.00001				$ 0.00001
Preferred stock, shares issued (in shares)							1	1
Preferred stock, shares outstanding (in shares)							1	1
Common shares, issued (in shares)							70,115,997	63,059,501
Common shares, outstanding (in shares)							70,115,997	63,059,501
Exchangeable shares, shares outstanding (in shares)							651,219	1,424,533
Warrant exercise price (in dollars per share)												$ 74.00	$ 74.00
Class of warrant or right, number of securities called by each warrant or right (in shares)												0.001	0.001
Individual penalty, threshold percentage							10.00%
Institutional investors penalty, threshold percentage							20.00%
Shares granted with respect to maximum fixed amount equal, percentage						20.00%
Options granted under original plan exercisable period							10 years
Number of shares available for grant (in shares)							4,594,639	3,205,132
Proceeds from stock options exercised							$ 5,006	$ 255	$ 6,428
Stock-based compensation							8,196	9,516	38,275
Derivative liability, classified stock options and ESPP							$ 630	$ 3,261	$ 27,517
Expected average option term							5 years 10 months 20 days	5 years 11 months 4 days	6 years 18 days
Option exercised intrinsic value							$ 758	$ 53	$ 10,998
Unamortized compensation expense related to unvested options							$ 8,424
Remaining unamortized compensation expense, weighted-average period							1 year 7 months 6 days
Additional paid-in capital
Temporary Equity [Line Items]
Stock-based compensation							$ 8,196	$ 9,516	38,275
Common stock
Temporary Equity [Line Items]
Number of common shares issued (in shares)			60,274,854
Exchangeable shares
Temporary Equity [Line Items]
Exchange of shares per the Redomiciliation (in shares)			1,424,533
Maximum
Temporary Equity [Line Items]
Expected average option term							10 years
Pre-Funded Warrant
Temporary Equity [Line Items]
Class of warrant or right, pre-funded (in shares)											13,668,482
Warrants issued to purchase shares (in shares)										8,581,868
Warrant exercise price (in dollars per share)				$ 0.0001							$ 0.0001
Warrants exercised during period (in shares)										8,581,961
Warrants outstanding (in shares)							5,086,521	2,079,224
Restricted Stock Units (RSUs)
Temporary Equity [Line Items]
Award vesting rights, percentage							33.00%
Nonvested award, cost not yet recognized, amount							$ 2,236
Nonvested award, cost not yet recognized, period for recognition							1 year 7 months 13 days
Compensation charge							$ 3,369	$ 913	3,101
Inducement Plan
Temporary Equity [Line Items]
Number of shares available for grant (in shares)							50,000	50,000
Common stock, capital shares reserved for future issuance														750,000
Employee Stock
Temporary Equity [Line Items]
Percentage of discounted purchase price of average market price					85.00%
Employees Stock Purchase Plan
Temporary Equity [Line Items]
Compensation charge							$ 387	$ 424	$ 803
Total amount contributed by ESPP participants							$ 384	$ 287
Zymeworks BC Inc
Temporary Equity [Line Items]
Common shares, issued (in shares)												61,699,387
Common shares, outstanding (in shares)												61,699,387
Private Placement
Temporary Equity [Line Items]
Class of warrant or right, pre-funded (in shares)	5,086,521
Warrants issued to purchase shares (in shares)	5,086,521
Warrants issued price per pre funded warrant (in dollars per share)	$ 9.8299
Issuance of common shares on exercise of warrants (note 10)	$ 50,000
Net proceeds from issuance	$ 49,862
2023 ATM Financing
Temporary Equity [Line Items]
Net proceeds from issuance		$ 26,233
Number of common shares issued (in shares)		3,350,000
Share issued, price per share (in dollars per share)		$ 8.12
Offering
Temporary Equity [Line Items]
Warrants issued price per pre funded warrant (in dollars per share)				$ 7.9999							7.9999
Net proceeds from issuance				$ 107,534
Number of common shares issued (in shares)				11,035,000
Share issued price per share (in dollars per share)				$ 8.00							$ 8.00
Over-Allotment Option
Temporary Equity [Line Items]
Class of warrant or right, pre-funded (in shares)				3,340,000
Number of shares issued to underwriters				1,875,000

Research, Collaboration and Licensing Agreements - 2020 Research and License Agreement with Merck (Details) - Merck Sharp and Dohme Research Ltd. $ in Millions	Jul. 31, 2020 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Maximum exercise fees and milestone payments	$ 419.3
Maximum milestone payments and tiered royalties	$ 502.5

Research, Collaboration and Licensing Agreements - Atreca (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 76,012	$ 412,482	$ 26,680
Atreca
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Variable consideration option exercise fees and milestone payments amount	$ 210,000
Variable consideration commercial milestone payments amount	540,000
Atreca \| License Option
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 5,000

- Definition

+ References

+ Details

Research, Collaboration and Licensing Agreements (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revenue Recognized from Strategic Partnerships

Revenue recognized from the Company’s strategic partnerships is summarized as follows:


	Year ended December 31,
	2023		2022		2021
Jazz:
Recognition of licensing and technology transfer fee	$	—	$	375,000	$	—
Development support payments	52,619		20,671		—
Drug supply for ongoing studies	25,662		3,610		—
Credit note for amendment of program	(20,100)		—		—
Other drug supply	13,350		—		—
Atreca:
Recognition of licensing fee	—		5,000		—
BeiGene:
Milestone revenue	—		—		8,000
Janssen:
Milestone revenue	—		—		8,000
Iconic:
Partner revenue	—		—		5,000
Research and development support and other payments	4,481		8,201		5,680
	$	76,012	$	412,482	$	26,680

Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Trade payables	$ 6,212	$ 7,863
Accrued research and development expenses	26,661	39,358
Goods and services tax payable	0	16,244
Employee compensation and vacation accruals	6,153	14,365
Accrued legal and professional fees	3,707	7,799
Liability for contingent consideration (note 16)	1,570	0
Other	729	1,839
Total	$ 45,032	$ 87,468

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The lease for the Company's office and laboratory spaces in Vancouver, British Columbia, which was entered into in January 2019, has an initial term expiring in February 2032, with two five-year extension options. In addition, the Company leases office spaces in Bellevue and Seattle, Washington and in Redwood City, California with lease terms expiring between December 2024 and May 2027. None of the optional extension periods have been included in the determination of the right-of-use assets or the lease liabilities for operating leases as the Company did not consider it reasonably certain that the Company would exercise any such options. The Company also leases office equipment under capital lease agreements.

The balance sheet classification of the Company’s lease liabilities was as follows:


	December 31, 2023			December 31, 2022
Operating lease liabilities:
Current portion	$	4,261		$	3,322
Long-term portion	22,369			24,667
Total operating lease liabilities	$	26,630		$	27,989
Finance lease liabilities:
Current portion included in other current liabilities	30			16
Long-term portion included in other long-term liabilities	92			124
Total finance lease liabilities	122			140
Total lease liabilities	$	26,752		$	28,129

Weighted average remaining lease term:
Operating leases	6.7 years			7.8 years
Weighted average discount rate:
Operating leases in U.S. dollars	3.6		%	2.8		%
Operating leases in Canadian dollars	4.8		%	4.8		%

Cash paid for amounts included in the measurement of operating lease liabilities for fixed lease payments for the year ended December 31, 2023 was $4,896 and was included in net cash used in operating activities in the consolidated statement of cash flows.

As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows:


	Operating leases
Within 1 year	$	5,542
1 to 2 years	5,113
2 to 3 years	5,021
3 to 4 years	3,811
4 to 5 years	3,174
Thereafter	8,730
Total operating lease payments	31,391
Less:
Imputed interest	(4,761)
Operating lease liabilities	$	26,630

The cost components of the operating leases were as follows:


	Year Ended December 31,
	2023		2022		2021
Lease expenses:
Operating lease expense	$	7,292	6,609		$	5,323
Variable lease expense	1,637		1,186		335
	$	8,929	$	7,795	$	5,658

During the year ended December 31, 2023, the Company did not recognize any impairment losses on its right-of-use assets (2022: nil and 2021: nil ).

Leases

The balance sheet classification of the Company’s lease liabilities was as follows:


	December 31, 2023			December 31, 2022
Operating lease liabilities:
Current portion	$	4,261		$	3,322
Long-term portion	22,369			24,667
Total operating lease liabilities	$	26,630		$	27,989
Finance lease liabilities:
Current portion included in other current liabilities	30			16
Long-term portion included in other long-term liabilities	92			124
Total finance lease liabilities	122			140
Total lease liabilities	$	26,752		$	28,129

Weighted average remaining lease term:
Operating leases	6.7 years			7.8 years
Weighted average discount rate:
Operating leases in U.S. dollars	3.6		%	2.8		%
Operating leases in Canadian dollars	4.8		%	4.8		%

As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows:


	Operating leases
Within 1 year	$	5,542
1 to 2 years	5,113
2 to 3 years	5,021
3 to 4 years	3,811
4 to 5 years	3,174
Thereafter	8,730
Total operating lease payments	31,391
Less:
Imputed interest	(4,761)
Operating lease liabilities	$	26,630

The cost components of the operating leases were as follows:


	Year Ended December 31,
	2023		2022		2021
Lease expenses:
Operating lease expense	$	7,292	6,609		$	5,323
Variable lease expense	1,637		1,186		335
	$	8,929	$	7,795	$	5,658

During the year ended December 31, 2023, the Company did not recognize any impairment losses on its right-of-use assets (2022: nil and 2021: nil ).

Leases - Schedule of Cost Components of Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 7,292	$ 6,609	$ 5,323
Variable lease expense	1,637	1,186	335
Operating lease expense	$ 8,929	$ 7,795	$ 5,658

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 157,557	$ 400,912
Short-term investments (note 5)	216,770	91,320
Accounts receivable	19,477	33,400
Prepaid expenses and other current assets	19,122	19,074
Total current assets	412,926	544,706
Deferred financing fees	108	10
Long-term investments (note 5)	82,148	886
Long-term prepaid assets	7,240	15,729
Deferred tax asset (note 14)	3,615	1,345
Property and equipment, net (note 7)	19,847	24,713
Operating lease right-of-use assets (note 15)	17,696	22,937
Intangible assets, net (note 8)	7,656	8,755
Acquired in-process research and development (note 6)	17,628	17,628
Goodwill (note 6)	12,016	12,016
Total assets	580,880	648,725
Current liabilities:
Accounts payable and accrued liabilities (note 9)	45,032	87,468
Income tax payable (note 14)	1,811	840
Fair value of liability-classified stock options	960	1,642
Current portion of operating lease liability (note 15)	4,261	3,322
Deferred revenue and other consideration (note 12)	3,699	2,353
Total current liabilities	55,763	95,625
Long-term portion of operating lease liability (note 15)	22,369	24,667
Deferred revenue (note 12)	32,941	30,588
Other long-term liabilities (note 9)	1,701	3,101
Deferred tax liability (note 14)	3,300	1,788
Total liabilities	116,074	155,769
Stockholders’ equity:
Common shares, $0.00001 par value; 900,000,000 authorized shares of common stock at December 31, 2023 and December 31, 2022 (70,115,997 and 63,059,501 shares issued and outstanding at December 31, 2023 and 2022, respectively (note 10b).	997,227	886,322
Preferred shares, $0.00001 par value; 100,000,000 authorized shares of preferred stock, out of which, one share of preferred stock is a share of Special Voting Preferred Stock and outstanding as of December 31, 2023 and December 31, 2022 (note 10b).	0	0
Exchangeable shares, no par value, 651,219 issued and outstanding shares at December 31, 2023 (December 31, 2022: 1,424,533) (note 10b).	9,345	20,442
Additional paid-in capital	142,274	151,614
Accumulated other comprehensive loss	(6,603)	(6,659)
Accumulated deficit	(677,437)	(558,763)
Total stockholders’ equity	464,806	492,956
Total liabilities and stockholders’ equity	580,880	648,725
Commitments and contingencies (note 16)

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2023	Mar. 04, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-41535
Entity Registrant Name	ZYMEWORKS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-3099146
Entity Address, Address Line One	108 Patriot Drive
Entity Address, Address Line Two	Suite A
Entity Address, City or Town	Middletown
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19709
City Area Code	302
Local Phone Number	274-8744
Title of 12(b) Security	Common Stock, $0.00001 par value per share
Trading Symbol	ZYME
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 468.5
Entity Common Stock, Shares Outstanding		70,568,222
Documents Incorporated by Reference	.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001937653

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Recovery)

Income tax recovery (expense) is comprised of the following:


	Year Ended December 31,
	2023		2022		2021
Current income tax expense	$	(189)	$	(8,953)	$	(437)
Deferred income tax recovery (expense)	757		(1,940)		953
Income tax recovery (expense)	$	568	$	(10,893)	$	516

Schedule of Effective Income Tax Rate Reconciliation

Income tax recovery (expense) varies from the amounts that would be computed by applying the expected U.S. statutory income tax rate of 21% (2022: 21% and 2021: 21%) to income (loss) before income taxes as shown in the following table:


	Year Ended December 31,
	2023		2022		2021
Computed taxes at United States statutory income tax rate	$	25,041	$	(28,429)	$	44,620
Non-deductible expenses	(2,696)		(9,745)		(798)
Difference between domestic and foreign tax rate	5,976		(8,365)		12,175
Adjustments to prior year	48,724		(826)		(33)
Change in valuation allowance	(78,668)		33,526		(60,260)
Share issuance costs in equity	—		—		2
Change in recognition and measurement of tax positions	(14)		—		—
Changes due to SR&ED and research credits	2,661		3,238		5,096
Other	(456)		(292)		(286)
Income tax recovery (expense)	$	568	$	(10,893)	$	516

Schedule of Significant Components of the Deferred Income Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities are as follows:


	December 31, 2023		December 31, 2022
Deferred tax assets:
Non-capital losses carried forward	$	162,545	$	84,948
Deferred revenue	9,893		8,893
Share issuance costs	2,972		4,549
Property and equipment	291		565
Intangible assets	1,902		5,930
Research and development deductions and credits	44,635		39,957
Contingent consideration	111		404
Stock options	5,936		4,344
Operating lease liability	6,596		7,008
Other	465		302
	$	235,346	$	156,900
Deferred tax liabilities:
Property and equipment	(231)		(967)
IPR&D	(4,760)		(4,759)
Operating lease right-of-use assets	(4,531)		(5,758)
Outside basis difference in foreign subsidiary	(2,125)		(1,788)
Stock options	(1,177)		—
Other	(186)		—
	$	(13,010)	$	(13,272)
	222,336		143,628
Less: valuation allowance	(222,021)		(144,071)
Net deferred tax (liabilities) assets	$	315	$	(443)
Deferred tax assets	$	3,615	$	1,345
Deferred tax liabilities	(3,300)		(1,788)
Net deferred tax (liabilities) assets	$	315	$	(443)

Schedule of Expiry Details of Investment Tax Credits, Non-Capital Losses and Net Operating Losses for Income Tax Purposes

The investment tax credits and non-capital losses for income tax purposes expire as follows:


Expiry date	Investment tax credits		Research tax credits		Non-capital losses
2029	$	1,169	$	—	$	—
2030	1,242		—		—
2031	1,424		—		—
2032	1,357		—		—
2033	1,277		—		—
2034	229		—		—
2035	1,068		—		3,961
2036	862		—		24,578
2037	1,586		—		10,625
2038	1,485		—		—
2039	1,818		—		81,253
2040	1,903		—		146,611
2041	2,222		—		192,924
2042	2,126		19		39,632
2043	1,934		343		97,644
	$	21,702	$	362	$	597,228

Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of total unrecognized tax benefits for the years ended December 31, 2023, 2022, and 2021 are as follows:


	Year Ended December 31,
	2023		2022		2021
Balance, beginning of year	$	3,063	$	3,063	$	3,063
Increases related to prior year tax positions	—		—		—
Increases related to current year tax positions	14		—		—
Balance, end of year	$	3,077	$	3,063	$	3,063

Income Taxes - Summary of Significant Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Non-capital losses carried forward	$ 162,545	$ 84,948
Deferred revenue	9,893	8,893
Share issuance costs	2,972	4,549
Property and equipment	291	565
Intangible assets	1,902	5,930
Research and development deductions and credits	44,635	39,957
Contingent consideration	111	404
Stock options	5,936	4,344
Operating lease liability	6,596	7,008
Other	465	302
Gross deferred tax assets	235,346	156,900
Deferred tax liabilities:
Property and equipment	(231)	(967)
IPR&D	(4,760)	(4,759)
Operating lease right-of-use assets	(4,531)	(5,758)
Outside basis difference in foreign subsidiary	(2,125)	(1,788)
Stock options	(1,177)	0
Other	(186)	0
Gross deferred tax liabilities	(13,010)	(13,272)
Deferred tax assets liabilities before valuation allowance	222,336	143,628
Less: valuation allowance	(222,021)	(144,071)
Net deferred tax (liabilities) assets	315
Net deferred tax liabilities		(443)
Deferred tax assets	3,615	1,345
Deferred tax liabilities	$ (3,300)	$ (1,788)

Cash, Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Cash, Cash Equivalents and Investments

The following table summarizes the Company's investments as of December 31, 2023:


	December 31, 2023
	Amortized Cost		Unrealized Gain (Loss)		Fair Value
Short-term investments:
Contractual maturity of one year or less:
GICs	$	75,066	$	—	$	75,066
U.S. Treasury notes	46,416		136		46,552
Corporate debt securities	94,900		252		95,152
	216,382		388		216,770
Long-term investments:
Contractual maturity of one to three years:
Corporate debt securities	70,181		(321)		69,860
Contractual maturity of three to four years:
Corporate debt securities	12,081		(11)		12,070

Equity securities	218		—		218
	82,480		(332)		82,148

	$	298,862	$	56	$	298,918

The following table summarizes the Company's investments as of December 31, 2022:


	December 31, 2022
	Amortized Cost		Unrealized Gain (Loss)		Fair Value
Short-term investments:
Contractual maturity of one year or less:
GICs	$	91,320	$	—	$	91,320
	91,320		—		91,320
Long-term investments:
Equity securities	886		—		886
	886		—		886

	$	92,206	$	—	$	92,206

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques used to determine such fair value:


	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash							$	23,126							$	200,623
Cash equivalents:
Money market funds	$	64,247	$	—	$	—	$	64,247	$	—	$	—	$	—	$	—
GICs	70,184		—		—		70,184		200,289		—		—		200,289
	134,431		—		—		157,557		200,289		—		—		400,912

Investments:
GICs	75,066		—		—		75,066		91,320		—		—		91,320
U.S. Treasury notes	46,552		—		—		46,552		—		—		—		—
Corporate debt securities	—		177,082		—		177,082		—		—		—		—
	121,618		177,082		—		298,700		91,320		—		—		91,320

Total	$	256,049	$	177,082	$	—	$	456,257	$	291,609	$	—	$	—	$	492,232

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 2,702	$ 1,015	$ 2,793

Net (Loss) Income per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Summary of Calculation of Diluted Income (Loss) Per Share

Net (loss) income per share for the years ended December 31, 2023, 2022 and 2021 was as follows:


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net (loss) income attributable to common stockholders:
Basic	$	(118,674)	$	124,341	$	(211,843)
Adjustment for change in fair value of liability classified stock options	—		(231)		(28,534)
Diluted	$	(118,674)	$	124,110	$	(240,377)

Denominator:
Weighted-average common stock outstanding:
Basic	68,863,010		65,194,775		51,553,869
Adjustment for dilutive effect of equity classified stock options and RSUs	—		53,535		—
Adjustment for dilutive effect of liability classified stock options	—		874		577,727
Diluted	68,863,010		65,249,184		52,131,596

Net (loss) income per common share – basic	$	(1.72)	$	1.91	$	(4.11)
Net (loss) income per common share – diluted	$	(1.72)	$	1.90	$	(4.61)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Line Items]
Expected income tax rate	21.00%	21.00%	21.00%
Net operating loss carry forwards	$ 597,200	$ 314,700
Research tax credits
Income Tax Disclosure [Line Items]
Tax credit carryforward, amount not subject to expiration	99,100	89,000
Tax credit carryforward, amount subject to expiration	362	1,200
Investment tax credits
Income Tax Disclosure [Line Items]
Tax credit carryforward, amount subject to expiration	$ 21,702	$ 18,500

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Preferred stock	Exchangeable shares	Common stock	Accumulated deficit	Accumulated other comprehensive loss	Additional paid-in capital
Beginning balance (in shares) at Dec. 31, 2020		0	0	46,035,389
Beginning balance at Dec. 31, 2020	$ 409,922	$ 0	$ 0	$ 724,219	$ (471,261)	$ (6,659)	$ 163,623
Stockholders' Equity
Issuance of common shares on exercise of stock options (note 10e) (in shares)				502,019
Issuance of common stock on exercise of stock options (note 10e)	9,660			$ 12,878			(3,218)
Issuance of common shares through employee share purchase plan (note 10f) (in shares)				68,964
Issuance of common stock through employee stock purchase plan (note 10f)	3,080			$ 3,080
Issuance of common shares upon vesting of restricted stock units ("RSUs") (in shares)				27,563
Issuance of common stock upon vesting of RSUs (note 10e)	0			$ 970			(970)
Stock-based compensation	38,275						38,275
Net income (loss)	(211,843)				(211,843)
Other comprehensive income	0
Ending balance (in shares) at Dec. 31, 2021		0	0	46,633,935
Ending balance at Dec. 31, 2021	249,094	$ 0	$ 0	$ 741,147	(683,104)	(6,659)	197,710
Stockholders' Equity
Issuance of common shares on exercise of stock options (note 10e) (in shares)				39,220
Issuance of common stock on exercise of stock options (note 10e)	280			$ 359			(79)
Issuance of common shares through employee share purchase plan (note 10f) (in shares)				179,238
Issuance of common stock through employee stock purchase plan (note 10f)	2,191			$ 2,191
Issuance of common shares upon vesting of restricted stock units ("RSUs") (in shares)				93,966
Issuance of common stock upon vesting of RSUs (note 10e)	0			$ 2,350			(2,350)
Issuance of common shares upon exercise of pre-funded warrants (note 10) (in shares)				6,502,675
Issuance of common stock upon exercise of pre-funded warrants (note 10c)	0			$ 78,168			(78,168)
The Redomicile Transactions (note 1, note 10b) (in shares)		1	1,424,533	(1,424,533)
The Redomicile Transactions (note 1, note 10b)	0	$ 0	$ 20,442	$ (20,442)
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs (notes 10a and 10d) (in shares)				11,035,000
Issuance of common stock upon vesting of restricted stock units ("RSUs") (note 10e)	107,534			$ 82,549			24,985
Stock-based compensation	9,516						9,516
Net income (loss)	124,341				124,341
Other comprehensive income	0
Ending balance (in shares) at Dec. 31, 2022		1	1,424,533	63,059,501
Ending balance at Dec. 31, 2022	492,956	$ 0	$ 20,442	$ 886,322	(558,763)	(6,659)	151,614
Stockholders' Equity
Issuance of common shares on exercise of stock options (note 10e) (in shares)				641,129
Issuance of common stock on exercise of stock options (note 10e)	5,222			$ 6,958			(1,736)
Issuance of common shares through employee share purchase plan (note 10f) (in shares)				111,911
Issuance of common stock through employee stock purchase plan (note 10f)	955			$ 955
Issuance of common shares upon vesting of restricted stock units ("RSUs") (in shares)				100,949
Issuance of common stock upon vesting of RSUs (note 10e)	0			$ 1,887			(1,887)
Issuance of common shares upon exercise of pre-funded warrants (note 10) (in shares)				2,079,193
Issuance of common stock upon exercise of pre-funded warrants (note 10c)	0			$ 63,775			(63,775)
Issuance of common stock for retracted exchangeable shares (in shares)			(773,314)	773,314
Issuance of common stock for retracted exchangeable shares	0		$ (11,097)	$ 11,097
Issuance of common stock in connection with At-The-Market sale (in shares)				3,350,000
Issuance of common stock in connection with At-The-Market ("ATM") sale (note 10a)	26,233			$ 26,233
Private placement (note 10a)	49,862						49,862
Stock-based compensation	8,196						8,196
Net income (loss)	(118,674)				(118,674)
Other comprehensive income	56					56
Ending balance (in shares) at Dec. 31, 2023		1	651,219	70,115,997
Ending balance at Dec. 31, 2023	$ 464,806	$ 0	$ 9,345	$ 997,227	$ (677,437)	$ (6,603)	$ 142,274

Net (Loss) Income per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net (Loss) Income per Share

Net (loss) income per share for the years ended December 31, 2023, 2022 and 2021 was as follows:


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net (loss) income attributable to common stockholders:
Basic	$	(118,674)	$	124,341	$	(211,843)
Adjustment for change in fair value of liability classified stock options	—		(231)		(28,534)
Diluted	$	(118,674)	$	124,110	$	(240,377)

Denominator:
Weighted-average common stock outstanding:
Basic	68,863,010		65,194,775		51,553,869
Adjustment for dilutive effect of equity classified stock options and RSUs	—		53,535		—
Adjustment for dilutive effect of liability classified stock options	—		874		577,727
Diluted	68,863,010		65,249,184		52,131,596

Net (loss) income per common share – basic	$	(1.72)	$	1.91	$	(4.11)
Net (loss) income per common share – diluted	$	(1.72)	$	1.90	$	(4.61)

Weighted average number of shares of common stock used in the basic and diluted earnings per share calculations include Exchangeable Shares and the pre-funded warrants issued in connection with the Company’s June 2019, January 2020 and January 2022 offerings and December 2023 private placement as the warrants were exercisable at any time for nominal cash consideration. The Company’s potentially dilutive securities, which include stock options and RSUs, have been excluded from the computation of diluted net loss per share for the year ended December 31, 2023 as the effect would be to reduce the net loss per share.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the lease term or useful life

Schedule of Intangible Assets

The Company records amortization using the straight-line method over the estimated useful lives of the definite-lived intangible assets as follows:


Asset Class						Rate
Software						3 years
Licensing agreements						Shorter of the licensing term or useful life

Intangible assets consist of the following:


	December 31,
	2023		2022
Research licenses	$	14,936	$	14,936
Computer software	7,878		7,522
Costs for in-progress software implementations	1,717		469
Intangible assets	24,531		22,927
Less accumulated amortization	(16,875)		(14,172)
Intangible assets, net	$	7,656	$	8,755

Research, Collaboration and Licensing Agreements - Celgene Corporation and Celgene Alpine Investment Co. LLC (Details) $ in Thousands		1 Months Ended	12 Months Ended					108 Months Ended
	Dec. 23, 2014 USD ($) program	Jun. 30, 2020 USD ($)	Dec. 31, 2023 USD ($) program	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2018 program	Dec. 31, 2017 program	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)			$ 76,012	$ 412,482	$ 26,680
Celgene \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 8,000
Collaborative agreement expansion fee	$ 4,000
Number of potential product developed and commercialized, further development stopped \| program			1
Number of potential products to developed and commercialized \| program	10					10	8
Celgene \| License Agreement \| Collaborative Arrangement \| Option Exercise Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)								$ 7,500
Celgene \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| License Option
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 7,500
Celgene \| License Agreement \| Collaborative Arrangement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	164,000
Celgene \| License Agreement \| Collaborative Arrangement \| Maximum \| Eligible to Receive
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment	1,640,000
Celgene \| License Agreement \| Collaborative Arrangement \| Maximum \| Eligible to Receive \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	101,500
Celgene \| License Agreement \| Collaborative Arrangement \| Maximum \| Eligible to Receive \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	55,000
Celgene \| License Agreement Terms, Excluding One Program \| Collaborative Arrangement \| Maximum \| Eligible to Receive
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment	$ 1,480,000
Bristol-Myers Squibb \| Upfront Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 12,000

Government Grants and Credits - Component of Government Grants and Credits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CEWS and CERS subsidies
Government Grants And Credits [Line Items]
Total	$ 0	$ 130	$ 3,402
SR&ED credits, net
Government Grants And Credits [Line Items]
Total	99	0	78
Grant
Government Grants And Credits [Line Items]
Total	$ 99	$ 130	$ 3,480

Cash, Cash Equivalents and Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

The following table summarizes the Company's investments as of December 31, 2023:


	December 31, 2023
	Amortized Cost		Unrealized Gain (Loss)		Fair Value
Short-term investments:
Contractual maturity of one year or less:
GICs	$	75,066	$	—	$	75,066
U.S. Treasury notes	46,416		136		46,552
Corporate debt securities	94,900		252		95,152
	216,382		388		216,770
Long-term investments:
Contractual maturity of one to three years:
Corporate debt securities	70,181		(321)		69,860
Contractual maturity of three to four years:
Corporate debt securities	12,081		(11)		12,070

Equity securities	218		—		218
	82,480		(332)		82,148

	$	298,862	$	56	$	298,918

The following table summarizes the Company's investments as of December 31, 2022:


	December 31, 2022
	Amortized Cost		Unrealized Gain (Loss)		Fair Value
Short-term investments:
Contractual maturity of one year or less:
GICs	$	91,320	$	—	$	91,320
	91,320		—		91,320
Long-term investments:
Equity securities	886		—		886
	886		—		886

	$	92,206	$	—	$	92,206

Schedule of Fair Value, Assets Measured on Recurring Basis


	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash							$	23,126							$	200,623
Cash equivalents:
Money market funds	$	64,247	$	—	$	—	$	64,247	$	—	$	—	$	—	$	—
GICs	70,184		—		—		70,184		200,289		—		—		200,289
	134,431		—		—		157,557		200,289		—		—		400,912

Investments:
GICs	75,066		—		—		75,066		91,320		—		—		91,320
U.S. Treasury notes	46,552		—		—		46,552		—		—		—		—
Corporate debt securities	—		177,082		—		177,082		—		—		—		—
	121,618		177,082		—		298,700		91,320		—		—		91,320

Total	$	256,049	$	177,082	$	—	$	456,257	$	291,609	$	—	$	—	$	492,232

Research, Collaboration and Licensing Agreements

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Research, Collaboration and Licensing Agreements

Revenue recognized from the Company’s strategic partnerships is summarized as follows:


	Year ended December 31,
	2023		2022		2021
Jazz:
Recognition of licensing and technology transfer fee	$	—	$	375,000	$	—
Development support payments	52,619		20,671		—
Drug supply for ongoing studies	25,662		3,610		—
Credit note for amendment of program	(20,100)		—		—
Other drug supply	13,350		—		—
Atreca:
Recognition of licensing fee	—		5,000		—
BeiGene:
Milestone revenue	—		—		8,000
Janssen:
Milestone revenue	—		—		8,000
Iconic:
Partner revenue	—		—		5,000
Research and development support and other payments	4,481		8,201		5,680
	$	76,012	$	412,482	$	26,680

Contract Assets and Liabilities

As at December 31, 2023, contract assets from research, collaboration and licensing agreements were nil, which is presented within accounts receivable (December 31, 2022: $3,000 which is presented within accounts receivable) and contract liabilities were $36,640 (December 31, 2022: $32,941). As at December 31, 2023 and 2022, $3,699 and $2,353 respectively, of the contract liabilities is classified as short term. Contract liabilities relate to deferred revenue from the BeiGene and Jazz agreements described below.

Jazz Collaboration Agreement

Original Jazz Collaboration Agreement:

On October 18, 2022, the Zymeworks BC entered into a License and Collaboration Agreement (the "Jazz Collaboration Agreement") with Jazz Pharmaceuticals Ireland Limited ("Jazz"), under which Jazz will have development and commercialization rights of zanidatamab throughout the world, but excluding the People’s Republic of China, Australia, New Zealand, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Hong Kong, Taiwan, Macau, Mongolia, South Korea, Brunei Darussalam, Cambodia, Indonesia, Papua New Guinea, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste, and Vietnam.

Under the Jazz Collaboration Agreement, the Company received a $50.0 million upfront payment upon delivery of licenses and technology transfer to Jazz as well as the receipt of United States Hart-Scott Rodino Antitrust Improvements Act of 1976 (“HSR”) Clearance (“Initial Technology Transfer”). A further payment of $325.0 million was received following Jazz's decision to continue the collaboration after readout of the top-line clinical data from HERIZON-BTC-01 (“BTC Data Transfer”). The Company considered the fair value of performance obligations based on the Company’s best estimate of their relative stand-alone selling prices, and allocated $375.0 million of the transaction price to the Company’s performance obligations in relation to the delivery of licenses, the Initial Technology Transfer and BTC Data Transfer under the Jazz Collaboration Agreement.

Development and commercial licenses, the Initial Technology and BTC Data Transfers were considered to be a single performance obligation. The consideration of $50.0 million allocated to this performance obligation was recognized as revenue in November 2022, upon delivery of these performance obligations and receipt of the HSR Clearance. Remaining consideration of $325.0 million was recognized as revenue upon completion of BTC Data Transfer to Jazz and Jazz’s decision to continue the Jazz Collaboration agreement, in December 2022.

Deliverables of development work performed by the Company, continuing technology transfer, participation in the Joint Steering Committee (“JSC”), and transfer of first BLA together were considered to be a single performance obligation and the consideration allocated to this performance obligation will be recognized as revenue over time as these activities are completed.

Remaining deliverables of Manufacturing Technology Transfer, Development Drug Supply, Commercial Drug Supply were considered individually distinct and the revenue related to these deliveries are to be recognized upon completion of future deliveries to Jazz.

Amendment of Jazz Collaboration Agreement:

On April 25, 2023, Zymeworks BC, a subsidiary of the Company, Zymeworks Biopharmaceuticals Inc. (“ZBI”), a subsidiary of Zymeworks BC, Zymeworks Zanidatamab Inc. (“ZZI”), a subsidiary of ZBI formed in December 2022 focused on the Company’s development program for zanidatamab, and Jazz Pharmaceuticals, Inc. (“Jazz Inc.”), entered into a Stock and Asset Purchase Agreement (the “Transfer Agreement”). Under the Transfer Agreement, (i) Jazz Inc. acquired from ZBI 100% of the issued and outstanding capital stock of ZZI, (ii) Jazz Inc. engaged certain Zymeworks BC and ZZI employees associated with the development of zanidatamab, and (iii) Zymeworks BC and ZBI transferred to Jazz Inc. or one of its affiliates contracts with respect to the engagement of certain independent contractors of Zymeworks BC and ZBI that work on the Program (as defined below). In addition, Jazz Inc. acquired from Zymeworks BC and ZBI certain contracts related to the Program, organizational documents and other records of ZZI, certain regulatory filings related to the Program, certain other books, records and other files, documents and information related to the Program, and certain employment records of service providers to be employed by Jazz Inc. and its affiliates following the Closing (as defined below). Subject to the terms and conditions of the Transfer Agreement, Jazz Inc. assumed certain liabilities that arise following the Closing related to the acquired assets and the Program, including with respect to transferred service providers.

Zymeworks BC and Jazz Pharmaceuticals Ireland Limited (an affiliate of Jazz Inc.) (a subsidiary of Jazz Pharmaceuticals plc, collectively referred to as “Jazz”) amended and restated the license and collaboration agreement dated October 18, 2022 by and between Zymeworks BC and Jazz (the “Original Jazz Collaboration Agreement”) (as amended the “Amended Jazz Collaboration Agreement”) to reflect the transfer of responsibility for the Program. Under the Amended Jazz Collaboration Agreement, the financial terms of the Original Jazz Collaboration Agreement, as previously disclosed, was unchanged, except that the costs of the Program (including ongoing costs related to the transferred service providers) incurred following the Closing was directly borne by Jazz instead of being incurred by Zymeworks BC and charged back to Jazz for reimbursement, though Zymeworks BC will remain eligible for reimbursement of certain costs for activities where Zymeworks BC maintains responsibility under the Amended Jazz Collaboration Agreement. As part of the amendments to the Amended Collaboration Agreement, the Company agreed to provide a credit note to Jazz of $20.1 million, which has been recognized as a reduction to revenue for the year ended December 31, 2023. “Program” refers to (i) ongoing clinical trials in certain sites in South Korea that are the responsibility of Zymeworks BC under the Original Jazz Collaboration Agreement and (ii) clinical trials for zanidatamab, other than the studies referenced in (i), initiated by Zymeworks BC in the Territory (as defined in the Original Jazz Collaboration Agreement) prior to the execution of the Original Jazz Collaboration Agreement.

The consummation of the transactions contemplated by the Transfer Agreement, including the execution of the Amended Jazz Collaboration Agreement, occurred in May 2023 (the “Closing”). In connection with the Closing, the parties entered into a transition services agreement pursuant to which Zymeworks BC and ZBI provide to Jazz Inc. and Jazz Inc. provides to Zymeworks BC and ZBI certain services to support the transfer of the acquired assets and the Program on a transitional basis.

The Company will be also eligible to receive up to $525.0 million in certain regulatory milestones payments and up to $862.5 million in potential commercial milestone payments. Pending approval, the Company is eligible to receive tiered royalties between 10% and 20% on Jazz’s annual net sales, with customary reductions in specified circumstances. No development or commercial milestone payments or royalties have been received to date.

As at December 31, 2023, contract liabilities under the Amended Jazz Collaboration Agreement include $3,699 received in relation to drug supply provided to Jazz.

Collaboration and License Agreements with BeiGene, Ltd. (“BeiGene”)

On November 26, 2018, the Company entered into three concurrent agreements with BeiGene whereby the Company granted BeiGene royalty-bearing exclusive licenses for the research, development and commercialization of its bispecific therapeutic candidates, zanidatamab (formerly known as “ZW25”) (as amended on March 29, 2021 and August 10, 2021, collectively “Zanidatamab Agreement”) and zanidatamab zovodotin (formerly known as “ZW49”) (as amended on May 25, 2020 and June 2, 2021, collectively “Zanidatamab Zovodotin Agreement”) in Asia (excluding Japan but including the People’s Republic of China, South Korea and other countries), Australia and New Zealand. In addition, the Company also granted BeiGene a worldwide, royalty-bearing, antibody sequence pair-specific license to research, develop and commercialize globally three

bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms, which agreement expired in November 2023.

Pursuant to these agreements, the Company received an upfront payment of $60.0 million for the totality of the rights described. The Company considered the fair value of performance obligations based on the Company’s best estimate of their relative stand-alone selling prices, and allocated $40.0 million of the transaction price to the license and collaboration agreements for zanidatamab and zanidatamab zovodotin and $20.0 million to the Company’s performance obligations under the research and licensing agreement for Azymetric and EFECT Platforms.

Original License and Collaboration Agreements for Zanidatamab and Zanidatamab Zovodotin

In relation to the Zanidatamab Agreement, the Company identified the following promised goods and services at the inception of the BeiGene agreement that are material: development and commercial licenses, initial transfer of the Company’s technologies and relevant know-how, continuing technology transfer, participation in the Joint Steering Committee (“JSC”) and other sub-committees, manufacturing technology transfer, provision of development supply, provision of commercial supply, and transfer of future rights related to the development and commercial license. The Company concluded that the licenses and initial technology transfer are distinct together and the continuing technology transfer and the Company’s participation to the JSC and other sub-committees’ activities are also distinct together. Remaining deliverables were individually determined to be distinct.

Development and commercial licenses as well as initial transfer of technologies and relevant know-how were considered to be a single performance obligation. The consideration of $7.1 million allocated to this performance obligation was recognized as revenue over a two-month period during which the delivery of the license and transfer of the relevant technology occurred. Deliverables of continuing technology transfer and participation in the JSC and other sub-committees together were considered to be a single performance obligation and the consideration allocated to this performance obligation will be recognized as revenue over time as these activities are completed. Remaining deliverables are considered individually distinct and the revenue will be recognized as delivery or transfer of future rights to BeiGene occurs.

In March 2020, BeiGene dosed the first patient in a two-arm Phase 1b/2 trial evaluating zanidatamab in combination with chemotherapy as a first-line treatment for patients with metastatic HER2-positive breast cancer and in combination with chemotherapy and BeiGene’s PD-1-targeted antibody tislelizumab as a first-line treatment for patients with metastatic HER2-positive GEA. The Company recognized revenue of $5.0 million in relation to this milestone. In November 2020, BeiGene dosed the first patient in South Korea in the pivotal HERIZON-BTC-01 study. The Company recognized revenue of $10.0 million in relation to this milestone. In December 2021, BeiGene dosed the first patient in South Korea in the pivotal HERIZON-GEA-01 study and the Company recognized revenue of $8.0 million in relation to this milestone.

In relation to the Zanidatamab Zovodotin Agreement, the Company identified the following promised goods and services at the inception of the BeiGene agreement that are material: development and commercial licenses, initial transfer of the Company’s technologies and relevant know-how, continuing technology transfer, participation in the JSC and other sub-committees, manufacturing technology transfer, provision of development supply, provision of commercial supply, and transfer of future rights related to the development and commercial license. The Company concluded that the licenses and initial technology transfer together were distinct together and the continuing technology transfer and the Company’s participation to the JSC and other sub-committees’ activities were also distinct together. Manufacturing technology transfer, provision of development supply and provision of commercial supply were individually determined to be distinct.

Development and commercial licenses as well as initial transfer of technologies and relevant know-how were considered to be a single performance obligation while continuing technology transfer and participation in the JSC and other sub-committees together were considered as a single performance obligation. Remaining deliverables were considered individually distinct.

Termination of BeiGene License and Collaboration Agreement Regarding Zanidatamab Zovodotin and Amendment of BeiGene License and Collaboration Agreement Regarding Zanidatamab:

On September 18, 2023, Zymeworks BC and BeiGene entered into a Termination Agreement (the “Termination Agreement”) relating to the Zanidatamab Zovodotin Agreement. The Termination Agreement does not terminate the Zanidatamab Agreement (as defined below).

Pursuant to the Termination Agreement, the Zanidatamab Zovodotin Agreement is terminated, effective as of September 18, 2023, and is no longer in effect, except that the termination does not relieve the parties from obligations under the Zanidatamab

Zovodotin Agreement that accrued prior to the termination and certain other provisions expressly indicated to survive the termination, including certain licenses to BeiGene intellectual property with respect to zanidatamab zovodotin.

Under the Zanidatamab Zovodotin Agreement, no performance obligations were completed by the Company as of December 31, 2023 as the initial transfer of technologies and relevant know-how was not going to start until the earlier of completion of the Company’s Phase-1 clinical studies for zanidatamab zovodotin or completion of dose escalation studies. Accordingly, no revenue was recognized from the Zanidatamab Zovodotin Agreement to date.

In connection with the entry into the Termination Agreement, on September 18, 2023, Zymeworks BC and BeiGene also entered into the Third Amendment to License and Collaboration Agreement (the “Amendment”) relating to the Zanidatamab Agreement. Pursuant to the Amendment, Zymeworks BC is eligible to receive development and commercial milestone payments of up to $172.0 million, together with tiered royalties up to 19.5% of net sales in BeiGene territories increasing up to 20% when cumulative amounts forgone as a result of a royalty reduction of 0.5% reaches a cap in the low double-digit millions of dollars. Pursuant to the Amendment, the remaining provisions of the Zanidatamab Agreement remain unchanged.

The Termination Agreement and the Amendment did not have any financial impact on the Company's financial statements as of and for the year ended December 31, 2023, other than allocation of consideration and performance obligations under the Zanidatamab Zovodotin Agreement to Zanidatamab Agreement. As of December 31, 2023, the Company has $32,941 of the upfront fees from the Zanidatamab Agreement as deferred revenue on the Company’s consolidated balance sheet (December 31, 2022: $32,941 from the Zanidatamab Agreement and Zanidatamab Zovodotin Agreement). Amounts not expected to be recognized as revenue within the next twelve months of the consolidated balance sheet date are classified as long-term deferred revenue.

Research and Licensing Agreement for Azymetric and EFECT Platforms

For the development and commercialization licenses of up to three bispecific antibody therapeutics using the Company’s Azymetric and EFECT platforms, the Company received an upfront payment of $20.0 million. The Company was also eligible to receive development and commercial milestone payments of up to $702.0 million. In addition, the Company was eligible to receive tiered royalties in the mid-single digits on product sales. No development or commercial milestone payments or royalties have been received to date. Under this agreement, BeiGene was solely responsible for the research, development, manufacturing, and commercialization of the products. This agreement expired in November 2023.

2020 Research and License Agreement with Merck

In July 2020, the Company entered into a new licensing agreement with Merck granting Merck a worldwide, royalty-bearing license to research, develop and commercialize up to three new multispecific antibodies toward Merck’s therapeutic targets in the human health field and up to three new multispecific antibodies toward Merck’s therapeutic targets in the animal health field using the Company’s Azymetric and EFECT platforms. The Company is eligible to receive up to $419.3 million in option exercise fees and clinical development and regulatory approval milestone payments and up to $502.5 million in commercial milestone payments, as well as tiered royalties on worldwide sales.

Licensing and Collaboration Agreement with Celgene Corporation & Celgene Alpine Investment Co. LLC (formerly “Celgene” and now a Bristol- Myers Squibb company, “BMS”)

On December 23, 2014, the Company entered into an agreement with Celgene (now “BMS”) to research, develop and commercialize bispecific antibodies generated through the use of the Company’s Azymetric platform. The Company will apply its Azymetric platform in combination with BMS’s proprietary targets to create novel bispecific antibodies for which BMS has an option to develop and commercialize a certain number of products (“Commercial License Option”).

Upon the execution of the Agreement, the Company received an upfront payment of $8.0 million and an expansion fee of $4.0 million. This agreement was expanded in 2018 to increase the number of programs from eight to ten and to extend BMS’s research period. BMS has the right to exercise options on up to ten programs, but in 2023 BMS stopped further development of one of the ten programs. If BMS opts in on a program, the Company is eligible to receive up to $164.0 million per product candidate (up to $1.64 billion for all ten programs, or $1.48 billion not including the one program for which BMS has stopped development), comprised of a commercial license option payment of $7.5 million, development milestone payments of up to $101.5 million and commercial milestone payments of up to $55.0 million. From contract inception to December 31, 2023, BMS has exercised one commercial license option and the Company has received a total of $7.5 million in product candidate-specific payments. After conclusion of BMS’s research period, BMS will be solely responsible for the research, development, manufacturing and commercialization of the products. In addition, the Company is eligible to receive tiered royalties calculated upon the global net sales of the resulting products. BMS will have exclusive worldwide commercialization rights to products derived from the agreement if BMS elects to exercise a commercial license option for each product. The Company determined

that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on BMS’s performance.

In June 2020, the Company’s existing collaboration agreement with BMS was amended to expand the license grant to include the use of the Company’s EFECT platform for the development of therapeutic candidates and to extend the research term. The amendment included an upfront expansion fee of $12.0 million paid to the Company and all other financial terms were unchanged. The Company’s performance obligations in relation to the upfront fee were met on the date of amendment. Accordingly, the upfront payment was recognized as revenue during the year ended December 31, 2020.

2015 Collaboration and License Agreement with GlaxoSmithKline Intellectual Property Development Ltd. (“GSK”)

On December 1, 2015, the Company entered into a collaboration and license agreement with GSK for the research, development, and commercialization of up to ten Fc-engineered monoclonal and bispecific antibodies generated through the use of the Company’s EFECT and Azymetric platforms. The Company and GSK will collaborate to further develop the Company’s EFECT platform through the design, engineering, and testing of novel engineered Fc domains tailored to induce specific antibody-mediated immune responses.

At the conclusion of the research collaboration, both GSK and the Company will have the right to develop and commercialize monoclonal and bispecific antibody candidates that incorporate the Company’s optimized immune-modulating Fc domains.

Under the terms of the agreement, GSK will have the right to develop a minimum of four products across multiple disease areas, and the Company will be eligible to receive up to $1.1 billion, including research, development, and commercial milestones of up to $110.0 million for each product. In addition, the Company is eligible to receive tiered sales royalties in the low single digits on net sales of products. Under this agreement, the Company is sharing certain research and development responsibilities with GSK to generate new Fc-engineered antibodies. Each party will bear its own costs for the responsibilities assigned to it during the research period. Furthermore, the Company will have the right to develop up to four products, free of royalties, using the new intellectual property arising from the collaboration and after a period of time, to grant licenses to such

intellectual property for development of additional products by third parties without any royalty or milestone payment to GSK. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on GSK’s performance.

No development or commercial milestone payments or royalties have been received to date.

2016 Platform Technology Transfer and License Agreement with GSK

On April 21, 2016, the Company entered into a platform technology transfer and license agreement with GSK for the research, development, and commercialization of up to six bispecific antibodies enabled using the Company’s Azymetric platform. Each of the two agreements with GSK were negotiated independently and the deliverables covered by the respective contracts utilize different therapeutic platforms and are unrelated to one another. Accordingly, the Platform Technology and License Agreement with GSK has been accounted for as a new arrangement. In May 2019, this agreement was expanded to provide GSK access to the Company’s unique heavy-light chain pairing technology under the Azymetric platform. This may include bispecific antibodies incorporating new engineered Fc regions generated under the 2015 GSK agreement.

The Company is eligible to receive up to $1.1 billion in milestone and other payments. From contract inception to December 31, 2023, the Company has received an upfront technology access fee payment of $6.0 million. The Company is also eligible to receive research milestone payments of up to $37.5 million, development milestone payments of up to $183.5 million and commercial milestone payments of up to $867.0 million. In addition, the Company is entitled to receive tiered royalties in the low to mid-single digits on product sales. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on GSK’s performance.

No research, development or commercial milestone payments or royalties have been received to date.

2016 Collaboration Agreement with Daiichi Sankyo, Co., Ltd. (“Daiichi Sankyo”)

On September 26, 2016, the Company and Daiichi Sankyo entered into a collaboration and cross license agreement which was amended on September 25, 2018, July 2, 2021, and June 6, 2022 (collectively, the “2016 Daiichi Collaboration Agreement”) for the research, development, and commercialization of one bispecific antibody enabled using the Company’s Azymetric and EFECT platforms. Additionally, the Company was able to license immuno-oncology antibodies from Daiichi Sankyo, with the

right to research, develop and commercialize multiple products globally in exchange for royalties on product sales. Under the agreement, Daiichi Sankyo had the option to develop and commercialize a single bispecific immuno-oncology therapeutic.

From contract inception to the termination of 2016 Daiichi Collaboration agreement as defined below, the Company has received an upfront technology access fee payment of $2.0 million and research and commercial option related payments totaling $4.5 million.

Termination of the 2016 Daiichi Sankyo Collaboration Agreement

In March 2023, Zymeworks BC and Daiichi Sankyo terminated the Daiichi Collaboration Agreement and is no longer in effect, except that the termination does not relieve the parties from obligations under the Daiichi Collaboration Agreement that have accrued prior to the termination or provisions of the Daiichi Collaboration Agreement expressly indicated in the Daiichi Collaboration Agreement or the Termination and License Agreement to survive the termination. The termination of the 2016 Daiichi Collaboration Agreement did not have any financial impact during the year ended December 31, 2023.

2018 Licensing Agreement with Daiichi Sankyo

In May 2018, the Company entered into a second license agreement with Daiichi Sankyo to research, develop and commercialize two bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms. Under the terms of the agreement, the Company granted Daiichi Sankyo a worldwide, royalty-bearing, antibody sequence pair-specific, exclusive license to research, develop and commercialize certain products. Under the agreement, Daiichi Sankyo will be solely responsible for the research, development, manufacturing and commercialization of the products.

Under the terms of the agreement, the Company was eligible to receive up to $484.7 million in various milestone and other payments. From contract inception to December 31, 2023, the Company has received an upfront technology access fee payment of $18.0 million. The Company remains eligible to receive development milestone payments totaling up to $63.4 million and commercial milestone payments of up to $170.0 million. In addition, the Company is eligible to receive tiered royalties ranging from the low single digits up to 10% on product sales, with the royalty term being, on a product-by-product and country-by-country basis, either (i) for as long as there is Zymeworks platform patent coverage on products, or (ii) for 10 years beginning from the first commercial sale, whichever period is longer. If there is no Zymeworks patent coverage on products, royalty rates may be reduced.

No development or commercial milestone payments or royalties have been received to date.

Collaboration and License Agreement with Janssen Biotech, Inc. (“Janssen”)

On November 13, 2017, the Company entered into a collaboration and license agreement with Janssen to research, develop and commercialize up to six bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms. Under the terms of the agreement, the Company granted Janssen a worldwide, royalty-bearing, antibody group-specific exclusive license to research, develop and commercialize certain products. Janssen also has the option to develop two additional bispecific antibodies under this agreement subject to a future option payment. Under the agreement, Janssen will be solely responsible for the research, development, manufacturing and commercialization of the products.

The Company was originally eligible to receive up to $1.45 billion in various license and milestone payments. From contract inception to December 31, 2023, the Company has received an upfront payment of $50.0 million and development milestones totaling $8.0 million with two bispecific antibodies initiating clinical trials. Janssen has deprioritized the development of one of those two bispecific antibodies, and in 2023 the research program term under the agreement ended with respect to the remaining four bispecific antibodies. As a result, the Company remains eligible to receive development milestone payments of up to $86.0 million and commercial milestone payments of up to $373.0 million ($43.0 million and $186.5 million, respectively, not including the bispecific antibody that Janssen has deprioritized). In addition, the Company is eligible to receive tiered royalties in the mid-single digits on product sales, with the royalty term being, on a product-by-product and country-by-country basis, either (i) for as long as there is Zymeworks platform patent coverage on products, or (ii) for 10 years, beginning from the first commercial sale, whichever period is longer. If there is no Zymeworks patent coverage on products, royalty rates may be potentially reduced. Janssen has the right, prior to the first dosing of a patient in a Phase 3 clinical trial for a product, to buy down the royalty relating to such product by one percentage point with a payment of $10.0 million. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on Janssen’s performance.

No commercial milestone payments or royalties have been received to date.

Research and License Agreement with LEO Pharma A/S (“LEO”)

On October 23, 2018, the Company entered into a research and license agreement with LEO. The Company granted LEO a worldwide, royalty-bearing, antibody sequence pair-specific exclusive license to research, develop and commercialize two bispecific antibodies, generated through the use of the Company’s Azymetric and EFECT platforms, for dermatologic indications. The Company will retain rights to develop antibodies resulting from this collaboration in all other therapeutic areas. The Company and LEO are jointly responsible for certain research activities, with the Company’s cost to be fully reimbursed by LEO. Each party is solely responsible for the development, manufacturing, and commercialization of their own products.

Pursuant to this agreement, the Company received an upfront payment of $5.0 million. No development or commercial milestone payments or royalties have been received to date.

Termination of LEO Research and License Agreement

On October 27, 2023, Zymeworks BC received written notice from LEO Pharma A/S (“LEO”), stating that LEO elected to terminate, in its entirety, the Research and License Agreement. In accordance with the terms of the Research and License Agreement, the termination of such agreement was effective on January 25, 2024. The termination of the LEO Research and License Agreement did not have any financial impact during the year ended December 31, 2023.

License Agreement with Iconic Therapeutics, Inc. (“Iconic”)

On May 13, 2019, the Company entered into a license agreement with Iconic to develop and commercialize an antibody-drug conjugate (ICON-2) targeting tissue factor generated through the use of the Company’s ZymeLink platform. Under the terms of this agreement, the Company granted Iconic a worldwide, royalty-bearing, antibody sequence-specific, exclusive license to develop and commercialize certain products. Iconic is responsible for the development, manufacturing, and commercialization of the products.

Pursuant to this agreement, the Company was initially eligible to receive development and commercial milestone payments and tiered royalties on worldwide net sales. From contract inception to December 31, 2023, the Company has received $1.0 million in milestone payments.

In December 2020, Exelixis, Inc. (“Exelixis”) exercised an option under an existing agreement with Iconic to license ICON-2 (also known as XB002) and under the Company’s agreement with Iconic, the Company received $4.0 million accordingly, a share of the $20.0 million option fee paid to Iconic by Exelixis. In December 2021, under an amendment between Iconic and Exelixis, the Company recognized $5.0 million as a share of the one-time fee received by Iconic in exchange for all future milestones owing to Iconic from Exelixis. The Company will continue to be eligible to receive future royalties on the ICON-2 program pursuant to the agreement with Iconic. Iconic and its partners are responsible for the development, manufacturing, and commercialization of the products.

Atreca

In April 2022, the Company entered into a licensing agreement with Atreca, Inc. (“Atreca”), granting Atreca a worldwide, royalty-bearing license to research, develop and commercialize novel ADCs. The Company is eligible to receive up to $210.0 million in option exercise fees and clinical development and regulatory approval milestone payments and up to $540.0 million in commercial milestone payments, as well as tiered royalties on worldwide sales. The Company's performance obligations in relation to the research license fee of $5.0 million were met in April 2022. Accordingly, the research license fee was recognized as revenue during the year ended December 31, 2022. There are no active programs under development pursuant to this agreement.

IPR&D and Goodwill - Summary of Carrying Value of IPR&D, Net of Impairment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net
Beginning balance	$ 17,628
Ending balance	17,628	$ 17,628
IPR&D
Acquired IPR&D
Acquired IPR&D, beginning balance	20,700	20,700	$ 20,700
Acquired IPR&D, Change during the period	0	0	0
Acquired IPR&D, ending balance	20,700	20,700	20,700
Accumulated Impairment
Beginning balance	(3,072)	(3,072)	(3,072)
Change during the period	0	0	0
Ending balance	(3,072)	(3,072)	(3,072)
Net
Beginning balance	17,628	17,628	17,628
Change during the period	0	0	0
Ending balance	$ 17,628	$ 17,628	$ 17,628

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment	$ 40,503	$ 38,012
Less accumulated depreciation	(20,656)	(13,299)
Property and equipment, net	19,847	24,713
Computer hardware
Property, Plant and Equipment [Line Items]
Property and equipment	2,464	2,235
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	2,976	2,976
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment	2,142	2,067
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment	11,807	9,698
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	20,992	20,960
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 122	$ 76

IPR&D and Goodwill (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Carrying Value of IPR&D, Net of Impairment

The following table summarizes the carrying value of IPR&D, net of impairment:


	Acquired IPR&D		Accumulated Impairment		Net
Balance at December 31, 2020	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2021	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2022	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2023	$	20,700	$	(3,072)	$	17,628

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 CAD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum exposure to credit risk for accounts receivable	$ 19,477	$ 33,400
Net monetary assets denominated in foreign currency	$ 1,392		$ 1,844
Jazz \| Accounts Receivable \| Credit Concentration Risk
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Concentration risk, percentage	85.00%	73.00%

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Components of Property and Equipment

Property and equipment consist of the following:


	December 31,
	2023		2022
Computer hardware	$	2,464	$	2,235
Furniture and fixtures	2,976		2,976
Office equipment	2,142		2,067
Laboratory equipment	11,807		9,698
Leasehold improvements	20,992		20,960
Construction in progress	122		76
Property and equipment	$	40,503	$	38,012
Less accumulated depreciation	(20,656)		(13,299)
Property and equipment, net	$	19,847	$	24,713

IPR&D and Goodwill - Additional Information (Detail)	12 Months Ended
IPR&D and Goodwill - Additional Information (Detail)	Dec. 31, 2023 USD ($) reportingUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets (excluding goodwill)	$ 0	$ 0	$ 0
Goodwill, impairment loss	$ 0
Number of reporting units \| reportingUnit	1

Commitment and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Changes in Fair Value of the Company's Liability for Contingent Consideration

The following table presents the changes in fair value of the Company’s liability for contingent consideration:


	Liability at the beginning of the period		Increase in fair value of liability for contingent consideration	Amounts paid or transferred to payables	Liability at end of the period
Year ended December 31, 2023	$	1,248	630	—	$	1,878
Year ended December 31, 2022	$	1,498	—	(250)	$	1,248

Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis


	December 31, 2023		Level 1		Level 2		Level 3

Liability for contingent consideration	$	1,878	—		—		$	1,878
Total	$	1,878	$	—	$	—	$	1,878


	December 31, 2022		Level 1		Level 2		Level 3

Liability for contingent consideration	$	1,248	—		—		$	1,248
Total	$	1,248	$	—	$	—	$	1,248

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The Company used the following assumptions to estimate fair value of contingent consideration liability as of December 31, 2023 and 2022:


	December 31, 2023		December 31, 2022

Weighted assessment of the likelihood of the milestones	33.5	%	16.3	%
Weighted average estimated period for achievement of milestones	0.92 years		1.36 years
Discount rate	17.0	%	12.0	%

Research, Collaboration and Licensing Agreements - Schedule Of Collaborative Arrangements and Noncollaborative Arrangement Transactions (Detail) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Dec. 31, 2021	Nov. 30, 2020	Mar. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				$ 76,012	$ 412,482	$ 26,680
Development support payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				4,481	8,201	5,680
Jazz \| Recognition of licensing and technology transfer fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				0	375,000	0
Jazz \| Development support payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				52,619	20,671	0
Jazz \| Drug supply for ongoing studies
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				25,662	3,610	0
Jazz \| Credit note for amendment of program
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				(20,100)	0	0
Jazz \| Other drug supply
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				13,350	0	0
Atreca \| Recognition of licensing fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				0	5,000	0
BeiGene \| Milestone revenue
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations	$ 8,000	$ 10,000	$ 5,000	0	0	8,000
Janssen \| Milestone revenue
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				0	0	8,000
Iconic \| Partner revenue
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations				$ 0	$ 0	$ 5,000

Research, Collaboration and Licensing Agreements - Collaboration and License Agreement with Janssen Biotech, Inc. (Details) - USD ($)		12 Months Ended			74 Months Ended
	Nov. 13, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 76,012,000	$ 412,482,000	$ 26,680,000
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty term		10 years
Buy down payment		$ 10,000,000			$ 10,000,000
Janssen Biotech, Inc. \| License and Milestone Payments \| Maximum \| Eligible to Receive \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 1,450,000,000
Janssen Biotech, Inc. \| Upfront Fee \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					50,000,000
Janssen Biotech, Inc. \| Development Milestone \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)		$ 8,000,000
Janssen Biotech, Inc. \| Development Milestone \| Maximum \| Eligible to Receive \| Research Agreement Product One Member \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	86,000,000
Janssen Biotech, Inc. \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)					$ 0
Janssen Biotech, Inc. \| Commercial Milestones \| Maximum \| Eligible to Receive \| Research Agreement Product Two \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	373,000,000
Janssen Biotech, Inc. \| Commercial Milestones \| Maximum \| Eligible to Receive \| Research Agreement Product Three \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	43,000,000
Janssen Biotech, Inc. \| Commercial Milestones \| Maximum \| Eligible to Receive \| Research Agreement Product Four \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 12)	$ 186,500,000

Income Taxes - Summary of Expiry Details of Investment Tax Credits, Non-Capital Losses and Net Operating Losses for Income Tax Purposes (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	$ 597,228
Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	21,702	$ 18,500
Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	362	$ 1,200
Tax Year 2029
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2029 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,169
Tax Year 2029 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2030
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2030 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,242
Tax Year 2030 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2031
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2031 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,424
Tax Year 2031 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2032
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2032 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,357
Tax Year 2032 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2033
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2033 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,277
Tax Year 2033 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2034
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2034 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	229
Tax Year 2034 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2035
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	3,961
Tax Year 2035 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,068
Tax Year 2035 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2036
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	24,578
Tax Year 2036 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	862
Tax Year 2036 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2037
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	10,625
Tax Year 2037 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,586
Tax Year 2037 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2038
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	0
Tax Year 2038 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,485
Tax Year 2038 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2039
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	81,253
Tax Year 2039 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,818
Tax Year 2039 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2040
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	146,611
Tax Year 2040 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,903
Tax Year 2040 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2041
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	192,924
Tax Year 2041 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	2,222
Tax Year 2041 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	0
Tax Year 2042
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	39,632
Tax Year 2042 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	2,126
Tax Year 2042 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	19
Tax Year 2043
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Non-capital losses	97,644
Tax Year 2043 \| Investment tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	1,934
Tax Year 2043 \| Research tax credits
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	$ 343

Cash, Cash Equivalents and Investments - Schedule of Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 456,257	$ 492,232
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	256,049	291,609
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	177,082	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	157,557	400,912
Cash and Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	134,431	200,289
Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Cash and Cash Equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	298,700	91,320
Investments \| GICs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	75,066	91,320
Investments \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	46,552	0
Investments \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	177,082	0
Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	121,618	91,320
Investments \| Level 1 \| GICs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	75,066	91,320
Investments \| Level 1 \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	46,552	0
Investments \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	177,082	0
Investments \| Level 2 \| GICs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 2 \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	177,082	0
Investments \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 3 \| GICs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 3 \| U.S. Treasury notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Investments \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Cash \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	23,126	200,623
Money market funds \| Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	64,247	0
Money market funds \| Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	64,247	0
Money market funds \| Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Money market funds \| Cash Equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
GICs \| Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	70,184	200,289
GICs \| Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	70,184	200,289
GICs \| Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
GICs \| Cash Equivalents \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0