Zai Lab Limited logo

Zai Lab Limited

ZLAB

NASDAQHealthcareBiotechnology

Previous close

$26.01

−$0.01 · -0.04%

Aug 21, 4:00 PM ET

ZLAB company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

80

Undervalued

Momentum

51

Neutral

Sentiment

52

Mixed

Risk resilience

50

Elevated Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Operating primarily in Mainland China and Hong Kong, Zai Lab Limited is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative medical treatments. Their therapeutic portfolio spans oncology, autoimmune conditions, infectious diseases, and neurological disorders. Currently available products in their portfolio include Zejula, a once-daily small-molecule PARP 1/2 inhibitor; Optune, a medical device leveraging tumor treating fields; NUZYRA, an antimicrobial agent for specific acute bacterial skin and skin structure infections and community-acquired bacterial pneumonia; and Qinlock, indicated for gastrointestinal stromal tumors. Beyond its commercial offerings, Zai Lab boasts an extensive pipeline of investigational therapies. These include Odronextamab for various B-cell lymphomas; Repotrectinib, a tyrosine kinase inhibitor targeting ROS1 and TRK pathways in both TKI-naïve and pretreated cancer patients; Margetuximab for breast and gastroesophageal cancers; Adagrasib for KRAS-G12C-mutated solid tumors like NSCLC, colorectal, and pancreatic cancers; and Bemarituzumab for gastric and gastroesophageal junction cancers. Further pipeline candidates encompass CLN-081 for EGFR exon 20 insertion NSCLC; Elzovantinib, an orally available multi-targeted kinase inhibitor; Tebotelimab, a tetravalent IgG4 monoclonal antibody; Retifanlimab, designed to block PD-1 interactions with its ligands; ZL-2309, an orally active and selective CDC7 kinase inhibitor; ZL-1201, a humanized IgG4 monoclonal antibody; Efgartigimod, aimed at reducing pathogenic immunoglobulin G antibodies; ZL-1102, a human nanobody against interleukin-17A; KarXT for psychiatric and neurological conditions; ZL-2313 and ZL-2314, both investigational EGFR inhibitors targeting specific mutations; and Sulbactam/durlobactam, intended for serious infections caused by Acinetobacter. Established in 2013, Zai Lab Limited maintains its corporate headquarters in Shanghai, China.

Industry
Biotechnology
Sector
Healthcare
Headquarters
CN
CEO
Ying Du
Listed since
Sep 20, 2017
Employees
1,784

Market position

Day range

Current $26.01

52-week range

Current $26.01

Open
$26.215
Previous close
$26.02
Volume
872.32K
0.91× average
Average volume
960.14K
Average daily volume
Market cap
2.94B USD
Beta
0.78
Market reference 1
50-day average
$20.4274
+27.33% above average
200-day average
$19.6541
+32.34% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
1.48B USD
P/E (TTM)
-14.5×
P/B (TTM)
4.65×
P/S (TTM)
6.35×
EV / EBITDA
-9.33×
Earnings yield
-9.09%
Free cash flow yield
-8.50%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
56.47%
Operating margin
-58.73%
Net margin
-41.86%
Return on equity
-24.53%
Return on assets
-14.97%
Return on invested capital
-22.74%

Financial health

Debt / equity
0.42×
Current ratio
2.45×
Altman Z-score
0.6
Piotroski F-score
2 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends121%-101%-322%-544%Gross margin, FY2021: 63.80%Gross margin, FY2022: 65.58%Gross margin, FY2023: 64.08%Gross margin, FY2024: 62.94%Gross margin, FY2025: 58.47%Operating margin, FY2021: -485.10%Operating margin, FY2022: -188.04%Operating margin, FY2023: -137.44%Operating margin, FY2024: -70.71%Operating margin, FY2025: -48.59%Net margin, FY2021: -488.16%Net margin, FY2022: -206.14%Net margin, FY2023: -125.46%Net margin, FY2024: -64.44%Net margin, FY2025: -38.15%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 63.80%. Gross margin FY2022 65.58%. Gross margin FY2023 64.08%. Gross margin FY2024 62.94%. Gross margin FY2025 58.47%. Operating margin FY2021 -485.10%. Operating margin FY2022 -188.04%. Operating margin FY2023 -137.44%. Operating margin FY2024 -70.71%. Operating margin FY2025 -48.59%. Net margin FY2021 -488.16%. Net margin FY2022 -206.14%. Net margin FY2023 -125.46%. Net margin FY2024 -64.44%. Net margin FY2025 -38.15%.

Income trends

Revenue

460.16M USD+15.33%

Operating income

−223.57M USD+20.75%

Net income

−175.54M USD+31.73%
Income trends across reported periods576.62M USD110.77M USD−355.08M USD−820.93M USDRevenue, FY2021: 144.31M USDRevenue, FY2022: 215.04M USDRevenue, FY2023: 266.72M USDRevenue, FY2024: 398.99M USDRevenue, FY2025: 460.16M USDOperating income, FY2021: −700.06M USDOperating income, FY2022: −404.36M USDOperating income, FY2023: −366.57M USDOperating income, FY2024: −282.12M USDOperating income, FY2025: −223.57M USDNet income, FY2021: −704.47M USDNet income, FY2022: −443.29M USDNet income, FY2023: −334.62M USDNet income, FY2024: −257.1M USDNet income, FY2025: −175.54M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 144.31M USD. Revenue FY2022 215.04M USD. Revenue FY2023 266.72M USD. Revenue FY2024 398.99M USD. Revenue FY2025 460.16M USD. Operating income FY2021 −700.06M USD. Operating income FY2022 −404.36M USD. Operating income FY2023 −366.57M USD. Operating income FY2024 −282.12M USD. Operating income FY2025 −223.57M USD. Net income FY2021 −704.47M USD. Net income FY2022 −443.29M USD. Net income FY2023 −334.62M USD. Net income FY2024 −257.1M USD. Net income FY2025 −175.54M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue460.16M USD398.99M USD266.72M USD215.04M USD144.31M USD
Cost of goods sold191.08M USD147.86M USD95.82M USD74.02M USD52.24M USD
Gross profit269.08M USD251.13M USD170.9M USD141.02M USD92.07M USD
Research and development220.9M USD234.5M USD265.87M USD286.41M USD573.31M USD
Selling, general, and administrative277.61M USD298.74M USD281.61M USD258.97M USD218.83M USD
Operating expenses492.65M USD533.25M USD537.48M USD545.38M USD792.14M USD
Interest income33.05M USD37.11M USD39.8M USD14.58M USD2.19M USD
Interest expense5.21M USD2.25M USD
Depreciation and amortization15.01M USD20.28M USD9.03M USD8.23M USD6.49M USD
Operating income−223.57M USD−282.12M USD−366.57M USD−404.36M USD−700.06M USD
Net income−175.54M USD−257.1M USD−334.62M USD−443.29M USD−704.47M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 5 misses, 1 met estimate
Average EPS surprise
+4.15%
11 comparable reports
Latest EPS result
-0.46
Estimate -0.68 · Beat by 32.29%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.24-0.44-0.64-0.84Q1 '25MissQ2 '25BeatQ3 '25MetQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 27, 2025: actual -0.8, estimate -0.61, surprise -31.15%, Miss. Q2 2025, reported May 8, 2025: actual -0.45, estimate -0.5, surprise +10.00%, Beat. Q3 2025, reported Aug 7, 2025: actual -0.37, estimate -0.37, surprise 0.00%, Met estimate. Q4 2025, reported Nov 6, 2025: actual -0.33, estimate -0.28, surprise -17.86%, Miss. Q1 2026, reported Feb 26, 2026: actual -0.46, estimate -0.44, surprise -4.55%, Miss. Q2 2026, reported May 7, 2026: actual -0.46, estimate -0.526, surprise +12.57%, Beat. Q3 2026, reported Aug 6, 2026: actual -0.46, estimate -0.679, surprise +32.29%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate -0.547, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates147.37M129.56M111.75M93.94MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 27, 2025: actual 109.07M USD, estimate 109.34M USD, surprise -0.24%, Miss. Q2 2025, reported May 8, 2025: actual 106.49M USD, estimate 112.58M USD, surprise -5.41%, Miss. Q3 2025, reported Aug 7, 2025: actual 109.98M USD, estimate 124.95M USD, surprise -11.98%, Miss. Q4 2025, reported Nov 6, 2025: actual 116.1M USD, estimate 141.71M USD, surprise -18.07%, Miss. Q1 2026, reported Feb 26, 2026: actual 127.6M USD, estimate 122.16M USD, surprise +4.45%, Beat. Q2 2026, reported May 7, 2026: actual 99.61M USD, estimate 108.43M USD, surprise -8.14%, Miss. Q3 2026, reported Aug 6, 2026: actual 106.31M USD, estimate 103.87M USD, surprise +2.35%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 108.81M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$53.75

106.65% upside
Past 12 months12-month forecastHigh $75.00Average $53.75Low $35.00

Rating distribution

11 ratings
Strong buy00%
Buy982%
Hold218%
Sell00%
Strong sell00%

ZLAB news

ZLAB peers

ETFs holding ZLAB

Funds reporting this stock among their holdings, ordered by reported position size.

Continue in GoAI

Research ZLAB

research.disclaimer