---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-023410"
form_type: "8-K"
ticker: "ZLAB"
cik: "0001704292"
company_name: "Zai Lab Ltd"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T04:53:12.446817+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-023410
- form_type: 8-K
- ticker: ZLAB
- cik: 0001704292
- company_name: Zai Lab Ltd
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1704292/000162828025023410/0001628280-25-023410-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704292/000162828025023410/zlab-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-023410
- JSON: https://secwatch.observer/filing/0001628280-25-023410.json
- Plain text: https://secwatch.observer/filing/0001628280-25-023410.txt

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