---
schema_version: "secwatch.filing_event.v1"
accession: "0001704292-26-000014"
form_type: "8-K"
ticker: "ZLAB"
cik: "0001704292"
company_name: "Zai Lab Ltd"
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:41:22.114073+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Zai Lab Q4 total revenue $127.6M (+17% YoY); net loss narrows to $50.4M

## Summary
- Q4 product revenue $127.1M (+17% YoY); ZEJULA $56M (+16%), XACDURO $10.7M (+225%).
- Net loss Q4 $50.4M (loss per ADS $0.46) vs $81.7M loss Q4 2024; FY loss $175.5M vs $257.1M.
- Cash $789.6M as of Dec 31, 2025; R&D expenses $61.6M Q4 (+18% YoY).
- KarXT approved in China Dec 2025; commercial launch H1 2026; NRDL renewals for VYVGART, NUZYRA, ZEJULA.
- Global pipeline: zoci (DLL3 ADC) advancing to three registration-enabling studies; ZL-1503 Phase 1 data H2 2026; ZL-1311 IND by year-end.

## SEC filing metadata
- accession: 0001704292-26-000014
- form_type: 8-K
- ticker: ZLAB
- cik: 0001704292
- company_name: Zai Lab Ltd
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1704292/000170429226000014/0001704292-26-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704292/000170429226000014/zlab-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001704292-26-000014
- JSON: https://secwatch.observer/filing/0001704292-26-000014.json
- Plain text: https://secwatch.observer/filing/0001704292-26-000014.txt

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