Company: ZLAB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023411
Chunk: 86

Company: Zai Lab Ltd
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 additional funding sources to bring to fruition our strategic objectives, and there can be no assurances that such funding will be made available to us on acceptable terms or at all.

24

The following table presents information regarding our cash flows ($ in thousands): 

Three Months EndedMarch 31,Change20252024$Net cash used in operating activities(61,699)(90,106)28,407 Net cash provided by investing activities326,133 3,292 322,841 Net cash provided by financing activities43,141 47,548 (4,407)Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash20 (104)124 Net increase (decrease) in cash, cash equivalents and restricted cash307,595 (39,370)346,965 

Net Cash Used in Operating Activities 

Net cash used in operating activities decreased by $28.4 million in the first quarter of 2025, primarily due to an increase of $22.2 million in net changes in operating assets and liabilities, a decrease of $5.0 million in net loss, and an increase of $1.1 million in adjustments to reconcile net loss to net cash used in operating activities.

Net Cash Provided by Investing Activities 

Net cash provided by investing activities increased by $322.8 million in the first quarter of 2025, primarily due to an increase of $313.7 million in proceeds from the maturity of short-term investments and a decrease of $9.7 million from acquisition of intangible assets, partially offset by an increase of $0.6 million in purchases of property and equipment.

Net Cash Provided by Financing Activities 

Net cash provided by financing activities decreased by $4.4 million in the first quarter of 2025, primarily due to $60.9 million in repayment of short-term bank borrowings and $0.9 million in payments of public offering costs, partially offset by $54.3 million increased in short-term debt proceeds and an increase of $3.0 million in proceeds from exercises of stock options.

Recently Issued Accounting Standards 

For more information regarding recently issued accounting standards, see Part II – Item 8. Financial Statements and Supplementary Data – Recent Accounting Pronouncements in our 2024 Annual Report.

Item 3. Quantitative and Qualitative Disclosures About Market Risk 

We are exposed to market risk including foreign exchange risk, credit risk, and interest rate risk. 

Foreign Exchange Risk 

Renminbi, or RMB, is not