Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 47

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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138 57,901 70,946 Total research and development expenses50,614 61,625 111,343 116,270 Three Months Ended June 30,Six Months Ended June 30,2025202420252024Personnel compensation and related costs42,679 48,279 83,322 94,173 Other costs28,359 31,431 51,138 54,731 Total selling, general, and administrative expenses71,038 79,710 134,460 148,904 

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Selling and marketing expenses46,764 53,275 88,703 96,869 General and administrative expenses24,274 26,435 45,757 52,035 Total selling, general, and administrative expenses71,038 79,710 134,460 148,904     

19. Subsequent Events 

On August 6, 2025, the Company entered into a new revolving credit facility with CMB, which replaced its previous RMB250.0 million (approximately $34.4 million) credit facility that expired in July 2025. The Company issued a new maximum-amount irrevocable letter of guarantee to CMB pursuant to which the Company will guarantee working capital loans of up to RMB500.0 million (approximately $69.6 million) from CMB to Zai Lab Shanghai, and Zai Lab Shanghai entered into a Credit Agreement with CMB with respect to the RMB500.0 million facility. The new guarantee and credit facility include the outstanding working capital loans with CMB. The credit facility will be available for two years, and key terms of the specific working capital loans, including the amount, term, and interest rate, will be included in the specific transaction documents. 

17

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our 2024 Annual Report and our unaudited condensed consolidated financial statements and the accompanying notes for the three and six months ended June 30, 2025 included in Item 1. Financial Statements. 

Overview 

We are a patient-focused, innovative, commercial-stage, global biopharmaceutical company with a substantial presence in both Greater China and the United States. We