Shares of clinical-stage biopharmaceutical company Zymeworks (NYSE: ZYME) rose 12.18% on Monday. The stock closed at $6.65 on Friday, opened on Monday at $6.69, and then ran to a high of $7.77 in the afternoon, before closing at $7.46. The stock has a 52-week low of $4.11 and a 52-week high of $25.74. So far this year, Zymeworks' shares are down more than 54%.
Zymeworks specializes in antibody therapies to treat solid tumors. The Canadian company hasn't made any announcements that would drive up the stock since its Oct. 20 press release detailing a licensing deal with Jazz Pharmaceuticals . The deal was for Zymeworks' multicancer therapy Zanidatamab, and the agreement could be worth as much as $1.76 billion for Zymeworks, it said.
Zanidatamab is a HER2-targeted bispecific antibody in phase 1 and phase 2 trials to treat certain HER2-expressing cancers, such as biliary tract, gastroesophageal, and certain breast cancers.
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Why Shares of Zymeworks Rose 12.18% on Monday