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Dec 31, 2024
Zai Lab Q4 2024 Earnings Report
Zai Lab's financial performance and corporate advancements were detailed, showcasing substantial revenue growth and strategic pipeline developments.
Key Takeaways
Zai Lab reported a strong fourth quarter and full year 2024, marked by a 66% increase in Q4 revenue to $109.1 million and a 50% increase in full-year revenue to $399.0 million. The company saw a 45% decrease in loss from operations for the quarter and is targeting $2 billion in revenue by 2028 and profitability in Q4 2025.
Total revenues grew 66% year-over-year for the fourth quarter of 2024, reaching $109.1 million.
Loss from operations decreased 45% year-over-year for the fourth quarter of 2024, amounting to $67.9 million.
VYVGART and VYVGART Hytrulo sales reached $30.0 million for the fourth quarter of 2024.
Zai Lab anticipates total revenue to be between $560 million and $590 million for the full year 2025.
Zai Lab
Zai Lab
Zai Lab Revenue by Segment
Revenue by Segment
VYVGART and VYVGART Hytrulo Revenue
CapyFin.comZEJULA Revenue
CapyFin.comNUZYRA Revenue
CapyFin.com Forward Guidance
Zai Lab expects continued rigorous financial discipline and anticipates total revenue to be in the range of $560 million to $590 million for full-year 2025 and to achieve profitability on a non-GAAP basis in the fourth quarter of 2025.
Positive Outlook
- Drive the ramp-up of VYVGART in gMG and VYVGART Hytrulo in gMG and CIDP through new patient acquisition and expansion of duration of treatment
- Maintain ZEJULA leadership position in ovarian cancer in China
- Prepare for launch of potential blockbuster products including bemarituzumab in gastric cancer and KarXT in schizophrenia
- Rapidly advance the global Phase 1 study for ZL-1310 (DLL3 ADC with global rights) in SCLC and explore its potential in other neuroendocrine tumors
- Advance other assets with global rights including ZL-6201 (LRRC15 ADC) and ZL-1503 (IL-13/IL-31R) into Phase 1 development
Challenges Ahead
- Risks related to commercializing approved products.
- Risks associated with obtaining funding for operations and business initiatives.
- Uncertainties in clinical and pre-clinical development of product candidates.
- Potential adverse decisions by regulatory authorities regarding approvals of product candidates.
- Risks related to doing business in China.