Company: ZLAB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001704292-25-000024
Chunk: 53

Company: Zai Lab Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 the unaudited condensed consolidated financial statements 

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Clinical programs18,179 23,060 63,236 63,196 Pre-Clinical programs1,982 14,461 10,365 19,649 Unallocated research and development expenses27,767 28,461 85,670 99,407 Total research and development expenses47,928 65,982 159,271 182,252 Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Personnel compensation and related costs41,320 39,984 124,642 134,157 Other costs28,786 27,235 79,924 81,966 Total selling, general, and administrative expenses70,106 67,219 204,566 216,123 

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Selling and marketing expenses47,179 43,473 135,882 140,342 General and administrative expenses22,927 23,746 68,684 75,781 Total selling, general, and administrative expenses70,106 67,219 204,566 216,123     

19. Subsequent Events 

On October 13, 2025, the Company entered into a maximum amount guarantee contract with Industrial Bank Co., Ltd., Shanghai Gubei Branch (“CIB”) pursuant to which the Company will guarantee working capital loans of up to RMB300 million (approximately $42.1 million) from CIB to our wholly-owned subsidiary, Zai Lab Shanghai, and Zai Lab Shanghai entered into a credit line contract with CIB with respect to the RMB300 million revolving credit facility. The credit facility will be available until May 5, 2026, 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 nine months ended September 30, 2025 included in Item 1