2025-11-06 12:04Financial Performance - Total revenues grew 14% year-over-year to $116.1 million in Q3 2025, with an operating loss improved by 28% year-over-year to $48.8 million[4] - Product revenue, net was $115.4 million in Q3 2025, representing 13% year-over-year growth, driven by increased sales for NUZYRA and XACDURO[12] - Adjusted loss from operations was $28.0 million in Q3 2025, a 42% improvement year-over-year[4] - Net loss was $36.0 million in Q3 2025, compared to a net loss of $41.7 million for the same period in 2024[10] - Total revenues for Q3 2025 reached $116.1 million, a 13% increase compared to $102.3 million in Q3 2024[33] - Product revenue, net for the nine months ended September 30, 2025, was $330.1 million, reflecting a 14% year-over-year growth[33] - Loss from operations for Q3 2025 was $48.8 million, a 28% improvement from a loss of $67.9 million in Q3 2024[36] - Adjusted loss from operations for Q3 2025 was $28.0 million, compared to $48.2 million in Q3 2024[36] - Comprehensive loss for Q3 2025 was $42.7 million, down from $56.2 million in Q3 2024[34] Cash and Liabilities - Cash and cash equivalents totaled $817.2 million as of September 30, 2025, down from $832.3 million as of June 30, 2025[10] - Cash and cash equivalents increased to $717.2 million as of September 30, 2025, up from $449.7 million at the end of 2024[32] - Total current liabilities rose to $359.8 million as of September 30, 2025, compared to $299.4 million at the end of 2024[32] - The company’s accumulated deficit increased to $2.58 billion as of September 30, 2025, from $2.45 billion at the end of 2024[32] Guidance and Future Outlook - Zai Lab is revising total revenue guidance for the full year 2025 to at least $460 million[21] - The company anticipates continued revenue growth and aims to achieve profitability in the future, although specific timelines were not provided[27] Research and Development - Research and Development (R&D) expenses decreased to $47.9 million in Q3 2025 from $66.0 million in Q3 2024[12] - Zocilurtatug pelitecan (zoci) is entering pivotal development with a global registrational study initiated for second-line extensive-stage small cell lung cancer[4] - KarXT was included in China's national-level treatment guidelines for schizophrenia, with launch preparations underway[4] Product Performance - VYVGART and VYVGART Hytrulo generated $27.7 million in Q3 2025, reflecting a 4.6% quarter-over-quarter growth[12]