Zai Lab Limited (ZLAB) on Tuesday announced that China's National Medical Products Administration has given the green light to COBENFY for treating schizophrenia in adults.
Notably, it's the first new type of therapy for this condition in over 70 years. COBENFY works by targeting the M1 and M4 receptors in the brain, which gives patients another option besides the usual dopamine-based antipsychotics.
Zai Lab pointed out that this approval is a big step forward for the around 8 million adults in China living with schizophrenia, especially since many struggle with current treatments that either don't work well or have tough side effects.
ZLAB closed Monday's trading at $17.71, down $0.33 or 1.83 percent on the Nasdaq.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.