Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 44

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
 a contractual term of ten years. Share options granted since April 2023 generally vest ratably over a four-year period, and share options granted prior to April 2023 generally vest ratably over a five-year period, with 25% or 20% of the awards vesting on each anniversary of the grant date, respectively, subject to continued employment/service with the Company on the vesting date. The restricted shares granted generally vest ratably over a specified period on the anniversary of the grant date, subject to continued employment/service with the Company on the vesting date. For a description of the Company’s equity incentive plans and more details on the terms of the share-based awards, see Note 15 in the 2024 Annual Report.The following table presents the share-based compensation expense that has been reported in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss as follows ($ in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Selling, general and administrative11,244 10,421 21,470 21,456 Research and development5,729 8,217 11,303 15,162 Total16,973 18,638 32,773 36,618 

14

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

As of June 30, 2025, there was unrecognized share-based compensation expense related to unvested share options and unvested restricted shares of $64.7 million and $75.4 million, respectively, which the Company expects to recognize over a weighted-average period of 2.52 years and 2.46 years, respectively.  

14. License and Collaboration Agreements

The Company has entered into various license and collaboration agreements with third parties to develop and commercialize product candidates. Significant License and Collaboration ArrangementsFor a description of the material terms of the Company’s significant license and collaboration agreements, see Note 16 of the 2024 Annual Report. In the six months ended June 30, 2025, the Company did not enter into any new significant license or collaboration agreements or incur any milestone fees under our existing significant license and collaboration agreements. Other License and Collaboration Arrangements That Are Not Individually Significant

The Company recorded upfront fees of $20.0 million into research and development expenses in the six months ended June 30, 2025 for license and collaboration agreements that are not individually significant