Why Zymeworks (ZYME) Shares Are Trading Higher Premarket Today - Jazz Pharmaceuticals (NASDAQ:JAZZ), Zymeworks (NASDAQ:ZYME)

Jazz Pharmaceuticals plc JAZZ will acquire development and commercialization rights to Zymeworks Inc's ZYME zanidatamab across all indications in the U.S., Europe, Japan, and all other territories except for those Asia/Pacific territories that Zymeworks previously licensed to BeiGene Ltd BGNE.
Zanidatamab, a HER2-targeted bispecific, is currently in pivotal trials as a second-line treatment for HER2-expressing biliary tract cancer (BTC) and first-line treatment for HER2-positive gastroesophageal adenocarcinoma (GEA).
Related: 'Street Underestimates Jazz Pharma's Cash-Flow' Says This Analyst.
Zanidatamab is based on Zymeworks' Azymetric platform and can simultaneously bind two non-overlapping epitopes of HER2.
Zymeworks is to receive a $50 million upfront payment, the second payment of $325 million, at Jazz's option, and further potential milestones of up to $1.76 billion, plus sales-based royalties.
Price Action: JAZZ shares closed at $135.08 on Tuesday. ZYME stock is up 10.30% at $6.19 during the premarket session on the last check Wednesday.

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