Zai Lab out with 1H Numbers

Zai Lab Limited (NASDAQ:ZLAB) was out with financial figures for the six months ended June 30.

The China and U.S.-based innovative commercial-stage biopharmaceutical company, reported that for the six months ended June 30, 2019, net revenues were $3.4 million, reflecting the commercial launch of its two lead oncology products in Hong Kong, with $1.9 million and $1.5 million from ZEJULA and Optune, respectively.

R&D expenses were $58.9 million for the six months ended June 30, 2019 compared to $34.6 million for the same period in 2018. The increase in R&D expenses was primarily attributable to an increase in licensing fees, ongoing and newly initiated late-stage clinical trials, headcount and payroll and payroll-related expenses, and expansion of research efforts to support internal programs.

For the six months, Zai Lab reported a net loss of $83.3 million, or a net loss per share attributable to common stockholders of $1.37, compared to a net loss of $41.5 million, or net loss per share attributable to common stockholders of $0.83, for the same period in 2018.

CEO Samantha Du remarked, "During the first half of 2019, we continued to make significant progress toward our objective of becoming a fully integrated global biopharmaceutical company. Our portfolio currently includes 10 clinical assets, nine of which are in late stage, targeting over 20 indications.

"We launched our two lead oncology products, ZEJULA® and Optune® in Hong Kong and ZEJULA in Macau. We submitted applications for marketing approval in China for both of these therapeutics and have built a full commercial platform."

Shares took on 64 cents, or 2%, to $33.25