Company: ZLAB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001704292-25-000024
Chunk: 43

Company: Zai Lab Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 based on the assessment of the ability to recover these amounts.(e) Recent Accounting PronouncementsRecently Issued Accounting Pronouncements Not Yet AdoptedIn December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. This ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is permitted. This ASU will result in additional disclosure in the consolidated financial statements, once adopted. The Company is currently evaluating the impact of this ASU and expects to adopt it for the year ending December 31, 2025.In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. This ASU will be effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU and expects to adopt it for the year ending December 31, 2027.For additional information on the Company’s significant accounting policies, refer to the notes to the consolidated financial statements in the 2024 Annual Report.

3. Cash and Cash Equivalents 

The following table presents the Company’s cash and cash equivalents ($ in thousands):September 30, 2025December 31, 2024Cash 715,953 448,508 Cash equivalents (i)1,202 1,159  717,155 449,667 Denominated in:  US$689,233 429,887 Renminbi (“RMB”) (ii)25,558 18,979 Hong Kong dollar (“HK$”)1,474 114 Australian dollar (“A$”)535 522 Taiwan dollar (“TW$”)355 165 717,155 449,667 (i)Cash equivalents represent short-term and highly liquid investments in a money market fund. 

(ii)Certain cash and bank balances denominated in RMB were deposited with banks in mainland China.