In a report released on February 20, Jonathan Chang from Leerink Partners reiterated a Buy rating on Zai Lab (ZLAB – Research Report), with a price target of $72.00.
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Jonathan Chang’s rating is based on Zai Lab’s promising developments in their ZL-1310 program, which targets small-cell lung cancer (SCLC). The initial monotherapy dose-escalation data for ZL-1310, presented at the 2024 EORTC-NCI-AACR symposium, showed impressive results, reinforcing confidence in its future potential. Zai Lab holds global rights to ZL-1310 and is actively engaged in phase I dose-escalation studies, both as a monotherapy and in combination settings, which are expected to yield further updates in the near term.
Additionally, Jonathan Chang highlights Zai Lab’s strategic positioning with ZL-1310 in the competitive landscape of DLL3 ADCs and B7-H3 ADCs. The company’s collaboration with MediLink Therapeutics adds value through a partly derisked ADC platform, supporting faster development timelines. Zai Lab’s broader pipeline and experienced management team further bolster confidence in their capacity to shift from a regional player to a strong global contender, potentially achieving FDA accelerated approval for ZL-1310 in 2L+ SCLC by 2027.
ZLAB’s price has also changed dramatically for the past six months – from $17.090 to $30.990, which is a 81.33% increase.