Jazz Pharmaceuticals advanced 2.3% in afternoon trading after the U.S. Food and Drug Administration approved two Ziihera-containing combination regimens for first-line treatment of unresectable locally advanced or metastatic HER2-positive gastroesophageal adenocarcinoma.
The approval, granted on an anticipated action date of August 25, 2026, covers a triplet regimen pairing Ziihera with Tevimbra and chemotherapy, as well as a doublet regimen combining Ziihera with chemotherapy alone. The therapies target distinct HER2 expression profiles, expanding treatment options for the aggressive cancer indication.
Shares of Jazz Pharmaceuticals reached an intraday record of $266.38, extending gains from earlier in the session. The stock now trades near the upper end of Wall Street's price target range, which spans from $264 to $310 across major desks.
The FDA decision follows Jazz Pharmaceuticals' stronger-than-expected second-quarter 2026 revenue of $1.21 billion, reported last month. The company's Ziihera is co-developed with BeOne Medicines, while the zanidatamab molecule originated at Zymeworks.
The broader market showed modest gains, with the S&P 500 up 0.2%, the Dow Jones Industrial Average rising 0.2%, and the Nasdaq Composite advancing 0.4%. Jazz Pharmaceuticals' stock movement contrasted with ZYME, which fell 4.52%, and ONC, which gained 1.18%.
