Zai Lab ADR surges after Seagen, Genmab release cervical cancer treatment results

Zai Lab Ltd.’s American depositary receipts
ZLAB,
+9.73%
jumped 14% premarket on Tuesday after Seagen Inc.
SGEN,
-0.35%
and Genmab A/S
GMAB,
-0.99%
announced that Tivdak, their treatment for cervical cancer, improved patients’ overall survival in a late-stage study. Zai Lab is collaborating with the companies on a China extension study, which has been initiated and continues to enroll patients, Seagen and Genmab said in a release Monday. Zai Lab and Seagen late last year announced a collaboration for the development and commercialization of Tivdak in mainland China, Hong Kong, Macau, and Taiwan. The U.S. Food and Drug Administration in 2021 granted accelerated approval for Tivdak for treatment of adults with recurrent or metastatic cervical cancer. Zai Lab’s ADR has dropped 15% in the year to date, while the S&P 500
SPX,
-0.42%
has gained 17.6%.