---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-008406"
form_type: "8-K"
ticker: "ZLAB"
cik: "0001704292"
company_name: "Zai Lab Ltd"
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T02:13:55.750019+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Zai Lab Q4 2024 revenue $109.1M (+66% YoY); guides FY2025 revenue $560-590M

## Summary
- Total revenues $399.0M for FY2024, up 50% YoY; product revenue $397.6M, up 49% YoY.
- VYVGART franchise net revenue $93.6M in first full year; ZEJULA $187.1M (+11% YoY); NUZYRA $43.2M (+99% YoY).
- Loss from operations decreased 23% to $282.1M for FY2024; net loss per ADS $2.60 vs $3.46 in 2023.
- Cash position $879.7M as of Dec 31, 2024; expects adjusted profitability (non-GAAP) in Q4 2025.
- ZL-1310 (DLL3 ADC) SCLC trial showed 74% ORR; NDA accepted for KarXT in schizophrenia in China.

## SEC filing metadata
- accession: 0001628280-25-008406
- form_type: 8-K
- ticker: ZLAB
- cik: 0001704292
- company_name: Zai Lab Ltd
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1704292/000162828025008406/0001628280-25-008406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704292/000162828025008406/zlab-20250227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-008406
- JSON: https://secwatch.observer/filing/0001628280-25-008406.json
- Plain text: https://secwatch.observer/filing/0001628280-25-008406.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.