Zai Lab Ltd (HKEX: 09688) has released its financial results for the second quarter of 2026, along with recent product highlights and corporate updates. The company reported total revenue of $106.3 million for the quarter, with net product revenue reaching $105.8 million, marking an 11% sequential increase driven by stable performance from ZEJULA and continued growth in VYVGART sales.

While the commercial foundation remains solid, Zai Lab Ltd is also seeing a dense wave of regulatory milestones across its oncology pipeline. The DLL3-targeting ADC Zocilurtatug Pelitecan (zoci) has been a standout. In July 2026, the U.S. Food and Drug Administration granted zoci Orphan Drug Designation for the treatment of neuroendocrine carcinomas. In June, the European Medicines Agency awarded zoci Orphan Drug Designation for the treatment of lung neuroendocrine carcinoma patients. In May, the FDA granted zoci Fast Track Designation for the treatment of extrapulmonary neuroendocrine carcinomas, marking the second such designation and paving the way for regulatory discussions on a registrational plan for epNECs. In April, Zai Lab Ltd’s partner Amgen initiated enrollment in the global Phase 1b DeLLphi-313 study evaluating zoci in combination with tarlatamab, with or without anti-PD-L1, for the treatment of small cell lung cancer.

In June 2026, China’s National Medical Products Administration approved the Biologics License Application for TIVDAK for the treatment of adult patients with recurrent or metastatic cervical cancer whose disease has progressed during or after chemotherapy. TIVDAK is the first ADC approved in China for this indication.

Across immunology and neuroscience, multiple products are advancing. For ZL-1503 (IL-13/IL-31Rα), Zai Lab Ltd has completed enrollment in the single ascending dose portion of the Phase 1/1b study in healthy volunteers, with initial pharmacokinetic, pharmacodynamic, safety, and immunogenicity data expected in the second half of 2026. Enrollment in the multiple ascending dose portion for atopic dermatitis patients is ongoing.

For VYVGART (efgartigimod alfa), in May 2026, the FDA approved supplemental Biologics License Applications submitted by Zai Lab Ltd’s partner argenx for both the intravenous and subcutaneous formulations, expanding the label to include all serotypes of generalized myasthenia gravis in adult patients. Zai Lab Ltd participated in the global ADAPT SERON Phase 3 study in Greater China and is preparing for a potential inclusion of VYVGART in China’s National Reimbursement Drug List in 2027.

For KarXT (xanomeline and trospium chloride), a M1/M4 muscarinic receptor agonist, Zai Lab Ltd commercially launched the drug in mainland China in June 2026 for the treatment of schizophrenia in adults. KarXT is the first new mechanism of action treatment for schizophrenia approved in over 70 years. The company is preparing to seek inclusion of KarXT in the NRDL in 2027.

For Povetacicept (APRIL/BAFF inhibitor), in June 2026, Zai Lab Ltd’s partner Vertex announced that the FDA accepted the BLA for povetacicept for the treatment of IgA nephropathy in adult patients under accelerated approval, with a PDUFA target action date of November 30, 2026. Zai Lab Ltd participated in the global RAINIER Phase 3 study in Greater China.

Dr. Samantha Du, Founder, Chairperson, and CEO of Zai Lab Ltd, stated: “Zai Lab Ltd is entering an exciting new chapter. Over the past few years, we have transitioned from bringing innovative medicines to patients in China to becoming a global biopharmaceutical company developing our own differentiated medicines for patients worldwide. Our innovation pipeline is maturing rapidly. We advanced zoci, a potential best-in-class DLL3-targeting ADC, from an IND to a global Phase 3 clinical study in less than two years. Our growing internally developed portfolio, including ZL-1503, gives us confidence that innovation will increasingly drive the next phase of Zai Lab Ltd’s growth. At the same time, we continue to strengthen our commercial business. This quarter, we sharpened our commercial focus, achieved sequential revenue growth, maintained commercial profitability, and laid the foundation for a return to significant growth in 2027. All of these achievements are helping Zai Lab Ltd create long-term value for patients and shareholders.”