(RTTNews) - Shares of Zai Lab Limited (ZLAB) are moving up about 8 percent on Wednesday morning trading after the company announced a global clinical trial collaboration with Amgen Inc. (AMGN) to evaluate Zai Lab's investigational delta-like ligand 3-targeting antibody-drug conjugate, zocilurtatug pelitecan, in combination with Amgen's IMDELLTRA in patients with extensive-stage small cell lung cancer.
The company's shares are currently trading at $20.39 on the Nasdaq, up 8.45 percent. The stock opened at $19.89 and has climbed as high as $20.28 so far in today's session. Over the past year, it has traded in a range of $15.96 to $44.34.
As part of this deal, Amgen will sponsor a global Phase 1b study to evaluate the safety and efficacy of zoci in combination with IMDELLTRA. Meanwhile, Zai Lab will retain full ownership of zoci and will supply Amgen with the study drug.
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