Revenue
2018
2019
2020
2021
2022
2023
2024
2025
Zai Lab Ltd (ZLAB)
Price$26.23Cached quote
Net income
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Free cash flow
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total cash / debt
CashTotal debt
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Financial statements
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $457.2M | $397.6M | $266.7M | $212.7M | $144.1M | $49.0M | $13.0M | $129,000 | — | — | — |
| Gross profit | $266.7M | $250.5M | $170.9M | $138.7M | $91.9M | $32.2M | $9.2M | $85,862 | — | — | — |
| Gross margin | 58.33% | 63.00% | 64.08% | 65.20% | 63.75% | 65.82% | 71.13% | 66.56% | — | — | — |
| Research & development | $220.9M | $234.5M | $265.9M | $286.4M | $573.3M | $222.7M | $142.2M | $120.3M | $39.3M | $32.1M | $13.6M |
| Operating expenses | $496.1M | $532.6M | $537.5M | $543.0M | $791.9M | $334.0M | $212.4M | $141.9M | — | — | — |
| Operating income | −$229.4M | −$282.1M | −$366.6M | −$404.4M | −$700.1M | −$301.8M | −$203.2M | −$141.8M | −$51.4M | −$38.5M | −$16.3M |
| Operating margin | −50.18% | −70.95% | −137.44% | −190.13% | −485.80% | −616.45% | −1,564.85% | −109,897.67% | — | — | — |
| EBITDA | −$214.4M | −$270.3M | −$357.5M | −$396.1M | −$693.6M | −$297.2M | −$199.4M | −$140.1M | −$50.8M | −$38.3M | −$16.2M |
| EBITDA margin | −46.90% | −67.97% | −134.05% | −186.26% | −481.30% | −606.97% | −1,535.85% | −108,618.60% | — | — | — |
| Net income | −$175.5M | −$257.1M | −$334.6M | −$443.3M | −$704.5M | −$268.9M | −$195.1M | −$139.1M | −$50.4M | −$37.5M | −$18.0M |
| Net profit margin | −38.40% | −64.66% | −125.46% | −208.44% | −488.86% | −549.26% | −1,502.28% | −107,810.08% | — | — | — |
| Basic EPSper basic share | -$0.16 | -$0.26 | -$0.35 | -$0.46 | -$0.76 | -$0.35 | -$0.30 | -$0.26 | -$0.23 | -$0.40 | -$0.21 |
| Diluted EPSper diluted share | -$0.16 | -$0.26 | -$0.35 | -$0.46 | -$0.76 | -$0.35 | -$0.30 | -$0.26 | -$0.23 | -$0.40 | -$0.21 |
Owners
Reported shareholders
Reported holdings Number of shares
View holders
| Holder | Shares held |
|---|---|
RTW INVESTMENTS, LP | 6.57M |
TCG Crossover Management, LLC | 6.14M |
RA CAPITAL MANAGEMENT, L.P. | 5.74M |
ADAR1 Capital Management, LLC | 3.37M |
FMR LLC | 2.82M |
GOLDMAN SACHS GROUP INC | 2.32M |
Woodline Partners LP | 2.21M |
Frazier Life Sciences Management, L.P. | 1.9M |
BAMCO INC /NY/ | 1.62M |
TWO SIGMA INVESTMENTS, LP | 1.3M |
CITADEL ADVISORS LLC | 1.28M |
Rock Springs Capital Management LP | 814.71K |
BlackRock, Inc. | 664.46K |
C WorldWide Group Holding A/S | 510K |
JANE STREET GROUP, LLC | 476.54K |
B Group, Inc. | 450.65K |
Nantahala Capital Management, LLC | 400K |
SCHRODER INVESTMENT MANAGEMENT GROUP | 393.17K |
NAN FUNG TRINITY (HK) LTD | 346.47K |
Aberdeen Group plc | 311.29K |
Bars compare reported share counts. A matching total for this share class and reporting period is unavailable, so percentages are not shown.
Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data
Insider buys & sells
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Jun 26, 2026Form 4 | Edmondson Frazor Titus IIIChief Legal Officer | SellAmerican Depositary Shares | 4.1K | $17.46 | $71.6K | 30.3K |
| Jun 26, 2026Form 4 | Du YingChairperson & CEO | SellAmerican Depositary Shares | 24.5K | $17.46 | $428.5K | 1.19M |
| Jun 26, 2026Form 4 | Chen YajingChief Financial Officer | SellAmerican Depositary Shares | 2.3K | $17.46 | $39.5K | 35.7K |
| Jun 22, 2026Form 4 · 10b5-1 | Lis WilliamDirector | SellAmerican Depositary Shares | 7.0K | $18.09 | $127.4K | 50.4K |
| May 18, 2026Form 4 · 10b5-1 | Du YingChairperson & CEO | SellAmerican Depositary Shares | 50.0K | $19.00 | $950.0K | 1.12M |