NASDAQ$ZLAB
Zai Lab Limited-ADR · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Achieved revenue growth driven by product sales and pipeline advancements.
Zai Lab reported a net product revenue increase of 22% year-over-year, reaching $69.2 million in Q3 2023. The launch of VYVGART in China and continued growth of ZEJULA contributed to the revenue increase, while the company experienced a decreased net loss compared to the same period in 2022.
- Total product revenue reached $69.2 million, a 22% increase year-over-year, with a 27% increase at constant exchange rates.
- VYVGART achieved $4.9 million in sales following its launch in China in September.
- ZEJULA maintained its position as the leading PARP inhibitor in hospital sales for ovarian cancer in China.
- Cash reserves totaled $822.2 million as of September 30, 2023.
Headline financials
Revenue & EPS history
Zai Lab · Revenue · Quarterly
$69.2M
Revenue by segment
Zai Lab · $52M total across 3 segments · Q3 2023
- ZEJULA$41.6M+6.1%80.0%
- NUZYRA$5.5M+266.7%10.6%
- VYVGART franchise$4.9M—9.4%
Forward guidance
Zai Lab anticipates several major milestones in 2023 and 2024 across its oncology, autoimmune disorders, infectious disease, and neuroscience pipelines, including potential regulatory approvals and clinical trial readouts.
Tailwinds
- Potential NMPA approval of Repotrectinib in ROS1-positive NSCLC in 2024.
- Zai Lab plans to submit an NDA to the NMPA for KRAZATI in second-line+ KRASG12C-mutated NSCLC in 2024.
- argenx expects to report topline data from the registrational Phase 3 ADVANCE-SC trial of efgartigimod SC in immune thrombocytopenia (ITP) in Q4 2023.
- argenx anticipates reporting topline data from the registrational Phase 3 ADDRESS trial of efgartigimod SC in pemphigus around year-end 2023.
- Karuna is set to launch KarXT for schizophrenia treatment, pending FDA approval, in the second half of 2024.
Headwinds
- NovoCure's Phase 3 INNOVATE-3 clinical trial of TTFields together with paclitaxel in patients with platinum-resistant ovarian cancer did not meet its primary endpoint of OS at the final analysis.
- NovoCure to provide a topline data readout from the phase 3 METIS clinical trial in brain metastases in the first quarter of 2024.
- NovoCure to provide a topline data readout from the phase 3 PANOVA-3 clinical trial in locally advanced pancreatic cancer in the second half of 2024.
- argenx to file the supplemental BLA in CIDP by the end of 2023.
- argenx to initiate a registrational study of efgartigimod in thyroid eye disease (TED) in the fourth quarter of 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.1%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.5%
Avg return
30 days after
45%
13 / 29 earnings
Positive
+26.0%
Q1 2024
Best reaction
-11.2%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.9% | -7.0% | -20.9% | |
| Q4 2025 | +1.7% | -8.6% | -7.2% | |
| Q3 2025 | -6.4% | -11.3% | -21.4% | |
| Q1 2025 | +2.5% | +0.9% | +34.4% | |
| Q4 2024 | -2.0% | -3.1% | +6.3% | |
| Q3 2024 | -3.7% | -13.0% | -14.1% | |
| Q2 2024 | -5.6% | -7.8% | +11.3% | |
| Q1 2024 | +26.0% | +29.0% | +19.9% | |
| Q4 2023 | -0.9% | +0.5% | -23.7% | |
| Q3 2023 | +7.4% | +0.9% | -1.5% | |
| Q2 2023 | -11.2% | -5.4% | +3.5% | |
| Q1 2023 | +1.4% | -9.3% | -24.2% | |
| Q4 2022 | -0.6% | +7.3% | -10.5% | |
| Q3 2022 | +1.9% | +23.9% | +18.7% | |
| Q2 2022 | -5.0% | -6.2% | -8.0% | |
| Q1 2022 | -2.1% | +30.0% | +5.6% | |
| Q4 2021 | -4.0% | -26.0% | -19.6% | |
| Q3 2021 | +0.7% | -2.3% | -22.3% | |
| Q2 2021 | +0.6% | +0.9% | +0.4% | |
| Q1 2021 | -5.1% | -3.3% | +8.3% | |
| Q4 2020 | +0.3% | -7.0% | -9.6% | |
| Q4 2019 | -1.4% | -2.7% | +17.0% | |
| Q1 2020 | -8.7% | +3.1% | +18.3% | |
| Q2 2019 | +4.3% | +4.1% | -4.0% | |
| Q1 2019 | +3.7% | +6.7% | -9.7% | |
| Q4 2018 | +10.4% | +10.4% | +1.6% | |
| Q3 2018 | +6.7% | +13.6% | +13.1% | |
| Q4 2017 | -5.3% | -8.8% | +22.8% | |
| Q3 2017 | -2.2% | -0.6% | +0.3% | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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