Company: ZLAB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008409
Chunk: 231

Company: Zai Lab Ltd
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 231
---
356,322 Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash(310)(2,622)2,312 Net decrease in cash, cash equivalents and restricted cash(240,483)(218,009)(22,474)

Net Cash Used in Operating Activities

Net cash used in operating activities increased by $16.7 million in 2024, primarily due to a decrease of $77.5 million in net loss and an increase of $13.8 million in adjustments to reconcile net loss to net cash used in operating activities, partially offset by a decrease of $108.0 million in net changes in operating assets and liabilities.

Net Cash Used in Investing Activities 

Net cash used in investing activities increased by $364.4 million in 2024, primarily due to an increase of $196.0 million purchases of short-term investments, a decrease of $101.4 million in proceeds from maturity of short-term investments, an increase of $54.6 million in acquisition of intangible assets, a decrease of $10.0 million in proceeds from sale of intellectual property, and a decrease of $3.9 million in proceeds from land use right, partially offset by a decrease of $1.6 million in purchases of property and equipment.

Net Cash Used in Financing Activities 

Net cash provided by financing activities was $349.9 million in 2024, compared to net cash used in financing activities of $6.4 million in 2023. This shift was primarily due to an increase of $216.1 million in proceeds from issuance of ordinary shares upon public offerings net of offering costs, an increase of $131.6 million in proceeds from short-term debt, and a decrease of $8.8 million in taxes paid related to settlement of equity awards.

Recently Issued Accounting Standards

For more information regarding recently issued accounting standards, see Part II - Item 8. Financial Statements and Supplementary Data – Recent Accounting Pronouncements.