Zai Lab (09688) announced its financial results for the first quarter of 2026. Total revenue reached $99.6 million, a decrease of 6% compared to $106.5 million in the same period of 2025. Net product revenue for the quarter was $95.6 million, down 10% year-over-year from $105.7 million. On a constant exchange rate (CER) basis, the decline in product revenue was 12%. The company reported a net loss of $51.0 million for the quarter, with a loss per ordinary share attributable to common shareholders of $0.05.
Dr. Samantha Du, Founder, Chairperson, and Chief Executive Officer of Zai Lab, commented, "We are accelerating the development of our global pipeline, with multiple clinical studies underway in oncology and immunology. In the first quarter, we made significant progress with zoci: data presented at AACR further confirmed its differentiated advantages in SCLC and epNECs. We also established collaborations with Amgen and Boehringer Ingelheim to explore zoci's potential as a foundational therapy. Patient enrollment for the registrational study DLLEVATE is progressing rapidly and is expected to be completed in the first half of 2027. Concurrently, we are advancing our growing portfolio of global clinical programs, including ZL-1503 (IL-13/IL-31Rα) for atopic dermatitis. These advancements underscore the strength of our R&D engine, which is designed to scale and create a differentiated pipeline of innovative products. Meanwhile, our already profitable regional commercial business provides a solid foundation, with several near-term opportunities to support future growth."
Josh Smiley, President and Chief Operating Officer of Zai Lab, stated, "We are deepening our presence in key markets to address potential demand for efgartigimod, while expanding our regional footprint to prepare for the launch of cenobamate tablets in China in the second quarter of this year. With approximately 8 million schizophrenia patients in China and supported by national treatment guidelines, the launch of cenobamate tablets will allow us to introduce the first new therapy in decades to this important market, with the hope of inclusion in the National Reimbursement Drug List next year. Furthermore, we anticipate potential approval for TIVDAK this year, and positive Phase 3 results for povetacicept and elegrobart are expected to create additional growth opportunities. We remain focused on executing steadily across our entire commercial portfolio."
Comments