Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 9

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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Total50,614 61,625 (11,011)(18)%111,343 116,270 (4,927)(4)%

Research and development expenses attributable to clinical programs decreased by $4.4 million in the three months ended June 30, 2025, primarily driven by a decrease in CROs/CMOs/Investigators expenses related to ongoing clinical trials.

Research and development expenses attributable to clinical programs increased by $4.9 million in the six months ended June 30, 2025, primarily driven by an increase in licensing fees for our license and collaboration agreements, partially offset by a decrease in CROs/CMOs/Investigators expenses related to ongoing clinical trials.

Although we manage our external research and development expenses by program, we do not allocate our internal research and development expenses by program because our employees and internal resources may be engaged in projects for multiple programs at any given time. 

Selling, General, and Administrative Expenses 

The following table presents our selling, general and administrative expenses by category ($ in thousands):

Three Months Ended June 30,ChangeSix Months Ended June 30,Change20252024$%20252024$%Personnel compensation and related costs42,679 48,279 (5,600)(12)%83,322 94,173 (10,851)(12)%Other costs28,359 31,431 (3,072)(10)%51,138 54,731 (3,593)(7)%Total71,038 79,710 (8,672)(11)%134,460 148,904 (14,444)(10)%

Selling, general, and administrative expenses decreased by $8.7 million and $14.4 million in the three and six months ended June 30, 2025, respectively, primarily due to decreases in personnel compensation and related costs related to our resource prioritization and efficiency efforts.

Interest Income 

Interest income decreased by $0.5 million and $1.5 million in the three and six months ended June 30, 2025, respectively, primarily due to decreased interest rates.

Interest Expenses 

Interest expense increased by $0.8 million and $1.8 million in the three and six months ended June 30, 2025, respectively, primarily due to higher levels of short-term debt.

Foreign Currency Gains (Losses)

Foreign currency gains were $2.8 million and $3.5 million in the three