Company: ZLAB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001704292-25-000024
Chunk: 85

Company: Zai Lab Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 statements of operations and comprehensive loss as follows ($ in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Selling, general and administrative10,945 10,404 32,415 31,861 Research and development5,978 6,391 17,281 21,552 Total16,923 16,795 49,696 53,413 

14

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

As of September 30, 2025, there was unrecognized share-based compensation expense related to unvested share options and unvested restricted shares of $54.4 million and $65.6 million, respectively, which the Company expects to recognize over a weighted-average period of 2.30 years and 2.26 years, respectively.  

14. License and Collaboration Agreements

The Company has entered into various license and collaboration agreements with third parties to develop and commercialize product candidates. Significant License and Collaboration ArrangementsFor a description of the material terms of the Company’s significant license and collaboration agreements, see Note 16 in the 2024 Annual Report. In the nine months ended September 30, 2025, the Company did not enter into any new significant license or collaboration agreements or incur any milestone fees under our existing significant license and collaboration agreements. Other License and Collaboration Arrangements That Are Not Individually Significant

The Company recorded upfront fees of $20.0 million into research and development expenses in the nine months ended September 30, 2025 for license and collaboration agreements that are not individually significant. 

15. Other Income (Expense), Net 

The following table presents the Company’s other income, net ($ in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Government grants854 3,861 4,720 7,186 Loss on equity investments with readily determinable fair value— (920)(1,912)(6,067)Other miscellaneous gain (loss)(1,362)500 237 2,740 Total(508)3,441 3,045 3,859 

16. Restricted Net Assets 

Chinese laws and regulations restrict the Company’s ability to receive distributions of funds from its Chinese subsidiaries. For example, relevant Chinese laws and regulations permit payments of dividends by the Company’s Chinese subsidiaries only out of its retained earnings, if any, as