Company Strategy & Pipeline - Zai Lab is executing a dual-engine growth strategy, leveraging a commercially profitable China platform to power global innovation, with the first U S approval expected by 2028[6] - The company aims to expand its global pipeline to over 9 indications in development by 2030[10, 12] - Zai Lab is focused on oncology and immunology, utilizing next-generation biologic modalities like ADCs and BsAbs, targeting validated targets with proven biology[16] Zoci (ZL-1310) Development - Zoci, a DLL3 ADC, is in a pivotal study and shows data supportive of potential best-in-class status[10] - In 2L SCLC, Zoci demonstrated a 68 4% ORR (Objective Response Rate)[32] - Grade ≥3 TRAEs (Treatment-Related Adverse Events) were 13% with Zoci at the selected Phase 3 dose[32] - Zai Lab anticipates a potential first global approval for Zoci in 2028, targeting a $9+ billion total addressable market across SCLC & NEC[40] Financial Position - The company reported a robust cash position of $817 2 million as of September 30, 2025[10, 20] - 48% of revenue was invested in R&D in 9M 2025[70] ZL-1503 (IL13/IL31R) Development - ZL-1503, a dual IL-13 / IL-31R bispecific antibody, is in a global Phase 1/1b study for Mod-to-Sev AD (Atopic Dermatitis)[19, 49] - Preclinical data showed rapid itch suppression sustained for up to 133 days in non-human primates[50]

Core Insights - Prenetics Global Limited has successfully priced a public offering of approximately $48 million, which includes Class A and Class B warrants, with potential total proceeds of up to $216 million if all warrants are exercised [1][2][12] - The company’s flagship brand, IM8, has achieved $100 million in annual recurring revenue within just 11 months of launch, marking the fastest growth in the supplements industry [4][20] - Prenetics aims to reach $1 billion in annual revenue and $1 billion in Bitcoin holdings within the next five years, supported by a strategic focus on its IM8 brand and Bitcoin treasury initiatives [6][7][15] Financial Overview - The public offering consists of 2,992,596 Class A ordinary shares and warrants, priced at $16.08 per share, with gross proceeds expected to be around $48 million before fees [1][2] - IM8 is projected to generate over $8.6 million in monthly revenue for October 2025, leading to an annual run rate of approximately $103 million [14] - Prenetics will hold approximately $100 million in cash and 275 BTC valued at $31 million as of October 27, 2025, totaling $131 million in liquidity [15][21] Strategic Partnerships - The offering has attracted a distinguished group of investors, including Kraken, American Ventures, and Jihan Wu's GPTX, enhancing Prenetics' strategic value in the cryptocurrency and health sectors [3][5] - Notable investors like Aryna Sabalenka and Adrian Cheng are expected to amplify IM8's global reach and cultural influence [7][20] Market Positioning - Prenetics is positioned at the intersection of health innovation and digital assets, being the first consumer health company to establish a Bitcoin treasury [21] - The company is targeting the $704 billion global supplements market expected by 2030, leveraging its rapid growth and strategic partnerships [4][20]