Company: ZLAB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023411
Chunk: 49

Company: Zai Lab Ltd
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 and development(60,729)(54,645)(6,084)11 %Selling, general, and administrative(63,422)(69,194)5,772 (8)%Loss from operations(56,311)(70,309)13,998 (20)%Interest income8,606 9,658 (1,052)(11)%Interest expenses(1,187)(113)(1,074)NMForeign currency gains (losses)651 (2,068)2,719 (131)%Other (expense) income, net(197)9,361 (9,558)(102)%Loss before income tax (48,438)(53,471)5,033 (9)%Income tax expense— — — — %Net loss(48,438)(53,471)5,033 (9)%

NM - Not Meaningful

Revenues

Product Revenue, Net

The following table presents net revenue by commercial program ($ in thousands):

Three Months Ended March 31,Change20252024$%ZEJULA49,529 45,501 4,028 9 %VYVGART / VYVGART Hytrulo18,105 13,162 4,943 38 %NUZYRA15,118 9,913 5,205 53 %OPTUNE11,363 12,480 (1,117)(9)%QINLOCK8,509 6,093 2,416 40 %XACDURO1,117 — 1,117 NMAUGTYRO1,626 — 1,626 NMOther (i)283 — 283 NMTotal product revenue, net105,650 87,149 18,501 21 %

(i)Other includes product candidates sold in patient programs prior to commercialization. 

Our product revenue is primarily derived from the sales of our commercial products primarily in mainland China, net of sales returns and rebates to distributors with respect to the sales of these products. 

20

Our net product revenue increased by $18.5 million in the first quarter of 2025, primarily driven by higher sales of VYVGART, driven by increasing market coverage and penetration since its NRDL listing in January 2024 for the treatment of gMG; ZEJULA, which continued to deliver strong sales as the leading PARP inhibitor in hospital sales