Commercial Adoption - Novocure is driving global active patient growth in Non-Small Cell Lung Cancer (NSCLC) and pursuing reimbursement[1] - NSCLC CE Mark achieved, with launch underway in Germany[1] - NSCLC PMDA approval and launch in Japan[1] - In Q2, there were 121 global NSCLC prescriptions received[8] - 75 unique prescribers prescribed TTFields in Q2[8] - 55% of Q2 prescribers were new to TTFields therapy[8] - 93% of patients prescribed TTFields with ICI were previously treated with ICIs[8] - 76% of patients prescribed TTFields were for 2L or 3L use[8] Clinical Pipeline - PANOVA-3 data presented and published, submitted to FDA, CE Mark and PMDA[1, 13] - METIS submitted to FDA, clinical data published[1] - TRIDENT and PANOVA-4 patient follow up is ongoing, preparing for H1 2026 top-line data[1] Financial Performance - Net revenues for Q2 2025 were $158.8 million, compared to $150.4 million in Q2 2024[15] - Net loss for Q2 2025 was $40.1 million, compared to a net loss of $33.4 million in Q2 2024[15] - Cash, cash equivalents, and investments were $911.5 million[15] - Adjusted EBITDA for the three months ended June 30, 2025, was $(9.9) million, compared to $1.1 million for the same period in 2024[23]

Financial Performance & Guidance - Zai Lab reported total revenue of $399.0 million for FY'24, a 50% year-over-year increase, and $109.1 million for 4Q'24, a 66% year-over-year increase[33, 34] - Adjusted loss from operations improved by 28% year-over-year for FY'24 and 53% year-over-year for 4Q'24[8] - The company's cash position was strong at $879.7 million as of December 31, 2024, compared to $806.5 million as of December 31, 2023[8, 46] - Zai Lab projects total revenue guidance of $560~$590 million for 2025 and targets profitability by 4Q'25[45] Product Performance & Pipeline - VYVGART/VYVGART Hytrulo revenue reached $93.6 million in FY'24, an 835% increase year-over-year, and $30.0 million in 4Q'24, a 492% increase year-over-year[33] - ZEJULA revenue was $187.1 million in FY'24, an 11% increase year-over-year, and $48.4 million in 4Q'24, a 16% increase year-over-year[33] - NUZYRA revenue was $43.2 million in FY'24, a 99% increase year-over-year, and $11.0 million in 4Q'24, an 81% increase year-over-year[33] - The company anticipates launching three new potential blockbuster drugs in China in 2025-26: Bemarituzumab, KarXT, and TTFields[13, 15, 17] Clinical Development & Regulatory Milestones - KarXT's NDA was accepted by the NMPA in January 2025 for schizophrenia[7, 16, 99] - ZL-1310 (DLL3 ADC) showed a 74% ORR in 2L+ SCLC patients in Phase 1 trials and was granted Orphan Drug Designation by the FDA for SCLC in Jan'25[8, 21, 22, 150] - The company plans to initiate a pivotal study for ZL-1310 in SCLC and a Phase 1 study in other DLL3-expressing tumors in 2025[26]