Zymeworks gains on up to $813 million Roche licensing deal for lung cancer drug
Today 12:18
BUZZ-Zymeworks gains on up to $813 million Roche licensing deal for lung cancer drug ** Shares of drugmaker Zymeworks ZYME.O rise 2.8% to $29.2 premarket
** Co licenses its experimental lung cancer drug to Roche ROPC.S, under a global licensing deal worth up to $813 million
** ZYME to receive $55 million upfront, additional $40 million and up to $718 million in milestone payments plus royalties
** Roche will gain rights to develop and commercialize ZW209, a drug targeting DLL3, a protein commonly found on small-cell lung cancer cells
** Five of 13 brokerages rate the stock "buy" or higher and eight "hold"; median PT is $38
** As of last close, stock up 8% YTD
(Reporting by Anand Gopal in Bengaluru)
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Zymeworks gains on up to $813 million Roche licensing deal for lung cancer drug