Jazz Pharmaceuticals shares advanced 2.3% during afternoon trading on Tuesday, reaching a record intraday high of $266.38, after the U.S. Food and Drug Administration approved two combination regimens containing Ziihera (zanidatamab-hrii) as first-line treatments for adults with unresectable or metastatic HER2-positive locally advanced gastroesophageal adenocarcinoma.
The FDA’s decision, issued ahead of the Prescription Drug User Fee Act target date of August 25, 2026, covers a triple regimen pairing Ziihera with Tevimbra (tislelizumab-jsgr) and chemotherapy, as well as a double regimen combining Ziihera with chemotherapy alone. The therapies target distinct HER2 expression profiles, expanding treatment options for a patient population with limited alternatives.
The approval follows Jazz Pharmaceuticals’ strong second-quarter 2026 financial performance, which reported revenue of $1.21 billion, exceeding consensus estimates. The company’s shares have gained traction in recent sessions, supported by analyst price targets ranging from $264 to $310 across major Wall Street banks.
Ziihera was developed by Zymeworks, with Jazz Pharmaceuticals holding commercialization rights. BeOne Medicines is also cited as a partner in the development and distribution framework. The broader market showed modest gains on the day, with the S&P 500 up 0.2%, the Dow Jones Industrial Average up 0.2%, and the Nasdaq Composite up 0.4%.
