SVB Leerink downgraded Zymeworks Inc ZYME to Market Perform with a price target of $8, down from $19 following the recent divestiture of zanidatamab to Jazz Pharmaceuticals plc JAZZ and the unveiling of the company's early stage pipeline.

Zymeworks (ZYME) inks a deal to license its lead candidate, zanidatamab, to Jazz Pharmaceuticals for the development and commercialization of the candidate in all territories except Asia-Pacific.

Zymeworks Inc. (ZYME) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Investors applauded a major licensing deal with Jazz Pharmaceuticals.

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.

Jazz to obtain exclusive development and commercialization rights in key markets including the U.S., Europe and Japan Zymeworks to receive $50 million upfront payment, a second payment of $325 million, at Jazz's option, and further potential regulatory and commercial milestones for total ...