Shares of Zymeworks ZYME were up 15.86% on Oct 19 after the company announced a licensing deal with Jazz Pharmaceuticals JAZZ for the former’s HER-2 targeted bispecific antibody, zanidatamab.However, Zymeworks’ stock has declined 60.3% in the year-to-date period compared with the industry’s fall of 24.1%.Image Source: Zacks Investment ResearchPursuant to the deal, Jazz will acquire the rights to develop and commercialize zanidatamab across all its indications in all territories, except in Asia Pacific territories, where the drug is already licensed to BeiGene BGNE.Zymeworks entered into a strategic collaboration with BeiGene in 2018, where the latter acquired the exclusive rights to develop and commercialize Zymeworks’ bispecific candidates zanidatamab and its second product candidate zanidatamab zovodotin (ZW49) in Asia (excluding Japan), Australia and New Zealand.Under the terms of the Zymeworks-Jazz agreement, Jazz will make an upfront payment of $50 million to Zymeworks, once the necessary regulatory bodies approve the transaction.Additionally, after Zymeworks reports the data from the pivotal HERIZON-BTC- study evaluating zanidatamab as a monotherapy in patients with previously treated advanced or metastatic HER2-amplified biliary tract cancer (BTC), Jazz can choose to continue with the collaboration. In case Jazz decides to continue, it will have to pay an additional $325 million to Zymeworks for the same.Zymeworks will also be eligible to receive regulatory milestone payments of up to $525 million and up to $862.5 million on achievement of certain commercial milestones. Jazz will also be paying Zymeworks tiered royalties between 10% to 20% of the net sales if and when zanidatamab is approved and marketed. Thus, the deal has the potential to reach a total valuation of $1.76 billion, which impressed investors.Investors must note that apart from zanidatamab, Zymeworks is also developing zanidatamab zovodotin (ZW49) for a range of HER-2 expressing cancers. The candidate is currently undergoing a phase I study to establish its safety and antitumor activity in humans.Zymeworks Inc. Price Zymeworks Inc. price | Zymeworks Inc. Quote Zacks Rank and A Key PickZymeworks currently has a Zacks Rank #3 (Hold).A better-ranked stock worth considering in the same sector is ACADIA Pharmaceuticals ACAD, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Acadia’s loss per share estimates for 2022 have narrowed down from $1.30 to $1.29 in the past 30 days. The loss per share for 2023 has also narrowed down from 67 cents to 60 cents in the same time frame.Earnings of Acadia beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions. The average negative earnings surprise for ACAD is 6.83%. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Jazz Pharmaceuticals PLC (JAZZ): Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD): Free Stock Analysis Report BeiGene, Ltd. (BGNE): Free Stock Analysis Report Zymeworks Inc. (ZYME): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research