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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December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.