Zai Lab

Q2 FY2026 EarningsQ2 FY2026 results delivered a top-line beat with total revenue of $106.3M vs. $103.8M expected. Net loss per ADS of $0.46 significantly outperformed the consensus mean of -$0.69, primarily driven by a substantial $15.1M foreign currency gain and reduced share-based compensation. While product revenue declined 3% YoY due to ZEJULA stabilization and pricing headwinds, VYVGART volume growth and the successful launch of KarXT in China remain key catalysts. Management maintained a robust cash position of $717.5M, supporting the transition to registrational Phase 3 trials for zocilurtatug pelitecan by year-end.