On Thursday, Zai Lab (ZLAB, Financial) shares experienced a significant uptick, soaring by more than 26% during intraday trading and maintaining a 23.02% increase, closing at $35.602. This surge follows the company's presentation at the EORTC-AXA-AACR 2024 symposium, where they shared promising data from their ongoing study of ZL-1310.
The study revealed a remarkable objective response rate (ORR) of 74% across all tested dosages in patients with relapsed extensive-stage small cell lung cancer (SCLC). This positive outcome has generated enthusiastic responses from investors.
In addition to the optimistic clinical findings, financial analysts at JPMorgan have adjusted their target price for Zai Lab, raising it from $38 to $44, further boosting investor confidence in the stock.
