Company: ZLAB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001704292-25-000024
Chunk: 61

Company: Zai Lab Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 2 %72,329 63,617 8,712 14 %NUZYRA15,430 9,997 5,433 54 %44,840 32,205 12,635 39 %OPTUNE12,657 7,715 4,942 64 %36,375 32,779 3,596 11 %QINLOCK8,901 8,643 258 3 %25,946 21,774 4,172 19 %XACDURO6,445 — 6,445 NM12,184 — 12,184 NMAUGTYRO1,677 — 1,677 NM4,702 — 4,702 NMOther (i)92 — 92 NM717 — 717 NMTotal product revenue, net115,361 101,847 13,514 13 %330,095 289,102 40,993 14 %

NM - Not Meaningful

(i)Other includes product candidates sold in patient programs prior to commercialization. 

Our product revenue is primarily derived from the sales of our commercial products in mainland China, net of sales returns and rebates to distributors with respect to the sales of these products. 

22

Our net product revenue increased by $13.5 million and $41.0 million in the three and nine months ended September 30, 2025, respectively, primarily due to NUZYRA, supported by increasing market coverage and penetration, XACDURO, which was launched since the fourth quarter of 2024, and higher sales of VYVGART, driven by an extension of duration of therapy and increasing market penetration. These higher sales were partially offset by softer sales of ZEJULA, due to evolving competitive dynamics within the PARPi class. 

Cost of Product Revenue

Cost of product revenue increased by $10.2 million and $22.9 million in the three and nine months ended September 30, 2025, respectively, primarily due to increasing sales volumes.

Collaboration Revenue and Cost of Collaboration Revenue

In the three and nine months ended September 30, 2025, collaboration revenue increased by $0.3 million and $1.6 million, respectively, and cost of collaboration revenue increased by $0.2 million and $0.1 million, respectively, which are related to promotional activities in