Zai Lab Announces Fourth Quarter and Full Year 2025 Financial Results and Recent Corporate Updates Conference call and webcast today, February 26, 2026, at 8:00 a.m. ET (9:00 p.m. HKT) SHANGHAI & CAMBRIDGE, Mass., February 26, 2026 -- Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) today announced financial results for the fourth quarter and full-year 2025, along with recent product highlights and corporate updates. "2025 was a year of disciplined execution across both engines of our business with significant ad ...

Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones up 0.76% at 49,174.5 points, the S&P 500 up 0.77% at 6,890.07 points, and the Nasdaq up 1.04% at 22,863.68 points [1] - Major tech stocks mostly rose, with AMD increasing over 8%, Intel over 5%, and Tesla, Netflix, and Apple each rising over 2% [1] Chinese Stocks - Most Chinese stocks saw gains, with Global Data up over 6%, Century Internet over 6%, and XPeng Motors over 6% [1] - Declines were noted in companies like Hesai Technology, which fell over 2%, and Zai Lab, which dropped over 1% [1] European Market - European indices had mixed results, with Germany's DAX down 0.02% at 24,986.25 points, France's CAC40 up 0.26% at 8,519.21 points, and the UK's FTSE 100 down 0.04% at 10,680.59 points [1] Commodity Prices - International precious metal futures showed mixed results, with COMEX gold futures down 1.25% at $5,160.50 per ounce and COMEX silver futures up 0.57% at $87.07 per ounce [1] - Crude oil prices fell slightly, with the main U.S. oil contract down 0.35% at $66.08 per barrel and Brent oil down 0.06% at $71.07 per barrel [1] Currency and Debt Markets - The U.S. dollar index rose 0.17% to 97.90, while the offshore RMB against the dollar increased by 95 basis points to 6.8798 [1] - U.S. Treasury yields were mixed, with the 2-year yield up 2.73 basis points at 3.461% and the 10-year yield down 0.38 basis points at 4.031% [1] - European bond yields collectively fell, with the UK 10-year yield down 0.9 basis points at 4.304% and Germany's 10-year yield down 0.4 basis points at 2.705% [1]

董事名單及其角色與職能 再鼎醫藥有限公司（「本公司」）董事會（「董事會」）成員載列如下。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不會對因本公告全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 Zai Lab Limited 再鼎醫藥有限公司* （於開曼群島註冊成立的有限公司） （股份代號：9688） 董事會下設五個董事會委員會。下表提供本公司各董事任職所在該等委員會的成員資料。 | | | 審核委員會 | 薪酬委員會 | 提名及企業 | 研發委員會 | 商業委員會 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 管治委員會 | | | | 杜瑩博士 | | | | | M | M | | John Diekman 博士 | | M | M | M | | | | Richard Gaynor | 博士 | | M | | C | | | 梁穎宇女士 | | | | M | | | | 先生 William Lis | | | | M | ...

Core Insights - Zai Lab is transitioning from a local China business to a global enterprise as it builds out its pipeline [2] Group 1 - The company is represented by Rafael Amado, who is the Head of Research and Development [1] - The discussion is part of Citigroup's Virtual Oncology Summit, indicating a focus on oncology research and development [1]

Core Viewpoint - Zai Ding Pharmaceutical (ZLAB.US) saw a more than 7% increase in stock price, reaching $20.11, following the announcement that its injectable ZL-1310 is proposed to be included as a breakthrough therapy for extensive-stage small cell lung cancer (ES-SCLC) patients during or after platinum-based treatment [1] Group 1 - ZL-1310 has shown outstanding efficacy data in early clinical studies, particularly in patients receiving second-line treatment and those with brain metastases, indicating its potential to become a breakthrough therapy in the SCLC treatment field [1]

Core Viewpoint - Zai Ding Pharmaceutical (ZLAB.US) saw a rise of over 7%, reaching $20.11, following news that its injectable ZL-1310 is proposed to be included as a breakthrough therapy for extensive-stage small cell lung cancer (ES-SCLC) patients during or after platinum-based treatment [1] Group 1 - ZL-1310 is intended for use in patients with disease progression during or after first-line platinum-based therapy for ES-SCLC [1] - Early clinical research data for ZL-1310 has shown outstanding efficacy, particularly in patients receiving second-line treatment and those with brain metastases, indicating a high response rate [1] - The potential of ZL-1310 to become a breakthrough therapy in the SCLC treatment field is highlighted by its promising clinical results [1]

Core Viewpoint - Zai Ding Pharmaceutical (09688) has seen a stock price increase of over 5%, currently trading at HKD 15.26, with a transaction volume of HKD 81.97 million, following the announcement of its injection drug ZL-1310 being considered for breakthrough therapy designation for extensive-stage small cell lung cancer (ES-SCLC) patients [1] Group 1: Drug Development and Clinical Trials - ZL-1310 has shown outstanding efficacy data in early clinical studies, particularly in patients receiving second-line treatment and those with brain metastases, indicating its potential as a breakthrough therapy in the SCLC treatment field [1] - The company plans to initiate three registration clinical trials for its targeted DLL3 ADC drug Zocilurtatug by the end of 2026, covering small cell lung cancer and neuroendocrine cancer [1] Group 2: Revenue Generation and Strategic Development - The company is generating stable revenue by introducing and commercializing overseas products while leveraging its cross-border platform to promote global development of its innovative pipeline [1] - Zai Ding Pharmaceutical possesses several early-stage global assets with differentiated potential, such as ZL-1503 and ZL-6201, which support its long-term value creation [1]

Group 1 - The core stock of Zai Lab (09688) has increased by over 5%, currently trading at HKD 15.26 with a transaction volume of HKD 81.97 million [1] - Zai Lab's injectable ZL-1310 is proposed to be included as a breakthrough therapy for extensive-stage small cell lung cancer (ES-SCLC) patients who experience disease progression during or after first-line platinum-based therapy [1] - Early clinical research data for ZL-1310 shows significant efficacy, particularly in patients receiving second-line treatment and those with brain metastases, indicating its potential as a breakthrough therapy in the SCLC treatment field [1] Group 2 - Haitong International's report highlights that the company is generating stable income through the introduction and commercialization of overseas products while promoting global development of its innovative pipeline via cross-border platforms [1] - The core pipeline includes the DLL3-targeted ADC drug Zocilurtatug, which is planned to initiate three registration clinical trials by the end of 2026, covering small cell lung cancer and neuroendocrine cancer [1] - The company also possesses several early-stage global assets with differentiated potential, such as ZL-1503 and ZL-6201, which collectively support its long-term value creation [1]

Core Viewpoint - Zai Lab Limited (09688.HK) will present its financial performance for the year ending December 31, 2025, to the board for approval on February 26, 2026, in accordance with US GAAP and SEC regulations [1] Group 1 - The board meeting is scheduled for February 26, 2026, to review and approve the annual financial results [1] - If approved, the annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website on the same day [1]

再鼎醫藥有限公司（「本公司」）謹此公佈，本公司董事會（「董事會」）將於 2026 年 2 月 26 日 （星期四）審議及批准（其中包括）根據美國公認會計準則（「美國公認會計準則」）及美國證 券交易委員會（「美國證交會」）的適用規則編製的本公司及其附屬公司截至 2025 年 12 月 31 日 止年度的財務業績（「年度業績」）及其發佈。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不會對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 倘年度業績獲董事會批准，本公司將於 2026 年 2 月 26 日（星期四）在香港聯合交易所有限公司網 站 www.hkexnews.hk 及本公司網站 http://ir.zailaboratory.com 發佈關於年度業績的公告。 在年度業績獲批准及發佈後，本公司管理層計劃在 2026 年 2 月 26 日（星期四，美國東部時間）上 午 8:00/2026 年 2 月 26 日（星期四，香港時間）下午 9:00 舉行電話會議及網絡直播，以討論年度業 績並回答提問（如 ...