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Mar 31, 2023
Zai Lab Q1 2023 Earnings Report
Reported a revenue increase driven by ZEJULA® growth and pipeline expansion.
Key Takeaways
Zai Lab reported a 36% year-over-year increase in total product revenue, reaching $62.8 million for the first quarter of 2023. The company highlighted the expansion of its lung cancer franchise and global oncology pipeline, along with a strong cash position of $931.4 million.
Total product revenue reached $62.8 million, a 36% increase year-over-year.
ZEJULA® sales grew by 44% year-over-year.
Expanded lung cancer franchise with a next-generation antibody-drug conjugate (ADC) program (ZL-1310).
Cash position remained strong at $931.4 million as of March 31, 2023.
Revenue by Segment
Forward Guidance
Zai Lab is focused on strategic priorities including regulatory approvals for efgartigimod, initiating studies for KarXT and bemarituzumab, and advancing its proprietary pipeline.
Positive Outlook
- Potential BLA approval and commercial launch by the NMPA for efgartigimod alfa injection for the treatment of adult patients with gMG in China.
- Potential BLA submission to the NMPA for SC efgartigimod for the treatment of adult patients with gMG in China in mid-2023.
- Zai Lab to join the global Phase 3 FORTITUDE-101 study in first-line gastric cancer in China in mid-2023.
- Zai Lab to join the global Phase 3 FORTITUDE-102 study in first-line gastric cancer in China.
- Zai Lab to initiate a bridging study for KarXT for the treatment of patients with schizophrenia in China in mid-2023.
Challenges Ahead
- Risks related to commercializing approved products.
- Risks associated with obtaining funding for operations.
- Uncertainties in clinical and pre-clinical development.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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