Jazz Pharmaceuticals Inc. rose 2.3% to an intraday record of $266.38 on Tuesday after U.S. regulators approved the company’s Ziihera therapy for a form of advanced gastric cancer.
The drug, zanidatamab-hrii, secured approval for two combination regimens as first-line treatments in adults with unresectable locally advanced or metastatic HER2-positive gastroesophageal adenocarcinoma. The regimens pair Ziihera with Tevimbra and chemotherapy, or with chemotherapy alone, targeting distinct HER2 expression profiles.
The approval follows Jazz Pharmaceuticals’ second-quarter results, which reported revenue of $1.21 billion, exceeding analyst expectations. The company’s shares have gained traction in recent sessions, with major Wall Street firms setting price targets between $264 and $310.
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%. Partner companies BeOne Medicines and Zymeworks, which developed the zanidatamab molecule, also saw stock moves—BeOne Medicines gained, while Zymeworks fell 4.52%.
Ziihera’s approval comes with a target action date of August 25, 2026, under the FDA’s Prescription Drug User Fee Act timeline.
