Zai Lab reports strong revenue growth, narrows net loss in H1 2025

Zai Lab's net product revenue for the six months ended June 30, 2025, rose to $214.7 million, a 15% increase from the prior year, primarily driven by strong sales of VYVGART, NUZYRA, and the newly launched XACDURO. This growth contributed to a 15% increase in total revenues to $216.4 million. The company significantly narrowed its net loss to $89.2 million, a 33% improvement from $133.7 million in the same period of 2024.

Research and development expenses decreased by $4.9 million to $111.3 million, mainly due to reduced CRO/CMO/Investigator expenses and personnel costs, partially offset by an increase in licensing fees. Selling, general, and administrative expenses also decreased by $14.4 million to $134.5 million due to resource prioritization and efficiency efforts.

As of June 30, 2025, Zai Lab reported cash, cash equivalents, and restricted cash of $833.4 million. The company anticipates fully utilising its remaining net proceeds from the April 2021 offering, totalling $332.5 million, by the end of 2027 to fund new business development, clinical trials, commercialisation efforts, global pipeline enhancement, and working capital.