Zai Lab Q1 revenue up 22% to $106.5M; operating loss narrows 20%; on track for Q4 profitability

Zai Lab Ltd

2025-Q1 EPS reported -$0.04 revenue$106,487,000

Product revenue $105.7M (+21% YoY); VYVGART $18.1M, ZEJULA $49.5M, NUZYRA $15.1M.
Adjusted operating loss $37.1M, improved 25% YoY; net loss $48.4M vs $53.5M prior year.
Cash $857.3M; reaffirms FY2025 revenue guidance $560M-$590M.
ZL-1310 (DLL3 ADC) pivotal study in ES-SCLC expected H2 2025; ASCO data June 2.
Discontinued ZL-1102 (IL-17) Phase 2 trial after interim analysis.

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