Zai Lab reported Q4 2025 total revenues of USD 127.6 million, up 17.0% y-o-y, and FY 2025 total revenues of USD 460.2 million, up 15.0% y-o-y. Q4 2025 product revenue, net was USD 127.1 million, up 17.0% y-o-y, while FY 2025 product revenue, net was USD 457.2 million, up 15.0% y-o-y. Q4 2025 net loss was USD 50.4 million, and FY 2025 net loss was USD 175.5 million. Cash and cash equivalents, short-term investments and current restricted cash totaled USD 789.6 million as of Dec. 31, 2025. In Q4 2025, ZEJULA revenue was USD 56.0 million (up 16.0% y-o-y), VYVGART and VYVGART Hytrulo revenue was USD 21.9 million, XACDURO revenue was USD 10.7 million (up 2.3x y-o-y), and NUZYRA revenue was USD 16.0 million (up 45.0% y-o-y). For FY 2025, ZEJULA revenue was USD 189.0 million, VYVGART and VYVGART Hytrulo revenue was USD 94.2 million, XACDURO revenue was USD 22.9 million (up 5.9x y-o-y), and NUZYRA revenue was USD 60.8 million (up 41.0% y-o-y). Recent updates included KarXT approval in China, with a planned commercial launch in Q2 2026. Zai Lab said its DLL3-targeting ADC zocilurtatug pelitecan (zoci) is on track to become its first global oncology launch, with three registration-enabling studies planned across 2L+ SCLC, 1L SCLC and extrapulmonary neuroendocrine carcinomas by end-2026, and multiple 2026 data readouts. The company also highlighted pipeline progress including first participant dosed for ZL-1503 (IL-13/IL-31Rα) and FDA IND clearance and Phase 1 initiation for ZL-6201 (LRRC15 ADC), and said it obtained exclusive worldwide rights to develop and commercialize ZL-1311 (MUC17/CD3 T-cell engager), with IND submission expected by year-end.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Zai Lab Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 202602260700BIZWIRE_USPR_____20260226_BW081765) on February 26, 2026, and is solely responsible for the information contained therein.