Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 40

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 rebates are determined based on contracted rates, sales volumes, and level of distributor inventories. The following table presents the Company’s net revenue by commercial program ($ in thousands): Three Months Ended June 30,Six Months Ended June 30,2025202420252024ZEJULA41,042 44,999 90,571 90,500 VYVGART / VYVGART Hytrulo26,497 23,190 44,602 36,352 NUZYRA14,292 12,295 29,410 22,208 OPTUNE12,355 12,584 23,718 25,064 QINLOCK8,536 7,038 17,045 13,131 XACDURO4,622 — 5,739 — AUGTYRO1,399 — 3,025 — Other (i)342 — 625 — Product revenue - net109,085 100,106 214,735 187,255 (i)Other includes product candidates sold in patient programs prior to commercialization. Collaboration Revenue Collaboration revenue was $0.9 million and $1.7 million in the three and six months ended June 30, 2025, respectively, and $0.4 million in both the three and six months ended June 30, 2024 and related to promotional activities in mainland China.

11

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

8. Income Tax 

No provision for income taxes has been accrued because the Company is in a cumulative loss position for the periods presented. The Company recorded a full valuation allowance against deferred tax assets of all its consolidated entities because all entities were in a cumulative loss position as of June 30, 2025 and December 31, 2024. No unrecognized tax benefits and related interest and penalties were recorded in the periods presented.

9. Loss Per Share 

The following table presents the computation of the basic and diluted net loss per share ($ in thousands, except share and per share data):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Numerator:Net loss (40,727)(80,277)(89,165)(133,748)Denominator:Weighted-average number of ordinary shares - basic and diluted1,091,933,150 975,937,790 1,086,413,130