Zhītōng Finance APP News, Zai Lab (09688) released its performance for the first three quarters ending on September 30, 2024. The group's total revenue was $0.29 billion, an increase of 44.32% year-on-year; a net loss of $0.175 billion, a decrease of 26.66% year-on-year; with a loss per share of $0.18.

Founder, director, and CEO Dr. Du Ying of Zai Lab stated: 'In the third quarter, we achieved strong commercial results, maintained prudent financial expenses, and continued to advance our global equity innovative drug pipeline. The commercial listing of Weijia's business has been a huge success, and we are fully prepared to meet the ongoing demand of a large number of generalized myasthenia gravis (gMG) patients. Our late-stage pipeline is progressing smoothly. The Chinese bridging study of KarXT for schizophrenia has achieved positive results in all endpoints, and we expect to submit a marketing authorization application in China in early 2025; the evaluation of bemarituzumab for gastric cancer in the FORTITUDE-102 study has completed patient enrollment; additionally, the promising ZL-1310 global Phase 1 study data has shown preliminary breakthrough anti-tumor activity. ZL1310 is a DLL3-targeted ADC drug with the best potential within its class developed globally to target small cell lung cancer (SCLC). We believe that these developments will bring significant value to our business in the coming years.'

President and Chief Operating Officer Josh Smiley of Zai Lab stated: 'Driven by the continuous strong growth of Weijia, our net product revenue grew by 47% year-on-year in the third quarter. We believe Weijia, used to treat gMG, is poised to be a blockbuster product after being included in the National Reimbursement Drug List (NRDL) in its first year. Weijia also has significant expansion potential. In addition to evaluating various other indications, the subcutaneous injection form of efgartigimod (Weijia) is expected to be launched in the fourth quarter for indications of gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). Our late-stage pipeline, including bemarituzumab for gastric cancer and KarXT for schizophrenia, provides broad opportunities for future growth. Meanwhile, due to our continuous efforts to improve efficiency and take prudent financial measures, our net losses have significantly improved. With the support of our current commercial product portfolio, ongoing globalization, and late-stage product pipeline, we are well prepared for future growth and profitability.'