Zymeworks’ Zanidatamab Receives NMPA Approval in China for HER2+ Biliary Tract Cancer

Zymeworks ( (ZYME) ) just unveiled an announcement.

Zymeworks has announced the approval of its dual HER2-targeted bispecific antibody, zanidatamab, by the National Medical Products Administration in China for treating HER2-positive biliary tract cancer. This conditional approval, based on the HERIZON-BTC-01 clinical study, marks a significant milestone as it is the first of its kind in China. The approval triggers a $20 million milestone payment from BeOne Medicines, with potential for further financial gains through additional development and commercial milestones. This advancement underscores zanidatamab’s clinical potential and Zymeworks’ commitment to transforming care for HER2-expressing cancers.

The most recent analyst rating on (ZYME) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Zymeworks stock, see the ZYME Stock Forecast page.

Spark’s Take on ZYME Stock

According to Spark, TipRanks’ AI Analyst, ZYME is a Neutral.

Zymeworks faces significant financial challenges, with persistent losses and cash flow issues weighing heavily on its score. However, positive recent developments, including FDA approval and strategic partnerships, offer potential upside. Technical indicators are mixed, and the valuation remains a concern due to lack of profitability.

To see Spark’s full report on ZYME stock, click here.

More about Zymeworks

Zymeworks Inc. is a global clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel, multifunctional biotherapeutics. The company aims to improve the standard of care for difficult-to-treat diseases such as cancer, inflammation, and autoimmune diseases through its complementary therapeutic platforms and integrated drug development engine.

Average Trading Volume: 666,736

Technical Sentiment Signal: Sell

Current Market Cap: $788.9M

Find detailed analytics on ZYME stock on TipRanks’ Stock Analysis page.