Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 91

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 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 and six months ended June 30, 2025, respectively, primarily driven by remeasurement gain due to appreciation of the RMB against the U.S. dollar, compared to foreign currency losses of $4.1 million and $6.2 million in the three and six months ended June 30, 2024, respectively, primarily driven by remeasurement loss due to depreciation of the RMB against the U.S. dollar.

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Other Income (Expense), Net 

Other income, net was $3.8 million in the three months ended June 30, 2025, compared to other expense, net of $8.9 million in the three months ended June 30, 2024, primarily due to higher government grants of $3.3 million and decreased loss on our equity investment in MacroGenics of $10.0 million.

Other income, net increased by $3.1 million to $3.6 million in the six months ended June 30, 2025, primarily due to decreased loss on our equity investment in MacroGenics. 

Income Tax Expense 

Income tax expense was nil in both the three and six months ended June 30, 2025 and 2024.

Net Loss

Net loss was $40.7 million in the three months ended June 30, 2025, or a loss per ordinary share attributable to common stockholders of $0.04 (or loss per ADS of $0.37), compared to a net loss of $80.3 million in the three months ended June 30, 2024, or a loss per ordinary share of $0.08 (or loss per ADS of $0.82). 

Net loss was $89.2 million in the six months ended June 30, 2025, or a loss per ordinary share attributable to common stockholders of $0.08 (or loss per ADS of $0.82), compared to a net loss of $133.7 million in the six months ended June 30, 2024, or a loss per ordinary share of $0.14 (or loss per ADS of $1.37). 

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