Zai Lab Limited (NASDAQ: ZLAB) has announced its Q2 2021 financial results and offered to cooperate updates and recent product highlights.
Zai Lab posted revenue of $36.9 million
Net product revenue in Q2 2021 was $36.9 million comprising of $23.4 million for ZELUJA sales, $9.5 Million for Optune, and $4 million for QINLOCK. Net loss for Q2 2021 was $163.3 million or $1.76 per common share compared to $80.6 million or $1.08 per share. The increase in a net loss as a result of payments in connection to new business development initiatives with MacroGenics and Mirati R&D expenses.
CEO Samantha DU said, “Consistent with our past track record, Zai Lab continued to execute with speed and quality across the organization during the second quarter. We successfully launched QINLOCK, the first product in what we hope will become a world-class gastric cancer franchise, in China; generated strong revenue growth from ZEJULA and Optune; and entered into strategic collaborations with Mirati, MacroGenics and Schrödinger to further strengthen our disease strongholds in oncology and our global pipeline.”
ZELUJA making progress in hospital listing
The company has made progress in increasing the number of hospitals listing ZELUJA as an authorized treatment. Since implementing the National Reimbursement Drug List, the number of hospitals that have listed ZELUJA has increased seven times to over 800 from March 1, 2021, through June 30, 2021. ZELUJA is approved in the US, mainland China, and the EU for advanced epithelial ovarian and fallopian tube or primary peritoneal cancer treatment.
Du commented, “We also continue to make progress in numerous regulatory activities, and we anticipate a discussion with the NMPA in the near future on the filing strategy for efgartigimod. In addition, we anticipate many important data readouts and updates in the remainder of this year, including for Tumor Treating Fields in ovarian cancer, for QINLOCK in second-line GIST, and for other product candidates in our global pipeline.”
