{
  "url": "https://struct.news/briefs/zai-labs-revenue-fell-14-but-its-pipeline-bill-kept-rising",
  "title": "Zai Lab’s revenue fell 14%, but its pipeline bill kept rising",
  "summary": "Inventory climbed 28% as sales shrank, while research and development expenses reached $65.6 million.",
  "published_at": "2026-08-06T10:41:42.713646+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Zai Lab Limited",
    "ticker": "ZLAB",
    "cik": "1628280",
    "sector": "Healthcare",
    "industry": "Biotechnology"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-05-07",
    "accession": "0001628280-26-031626",
    "url": "https://www.sec.gov/Archives/edgar/data/1704292/000162828026031626/zlab-20260331.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-11-06",
    "url": "https://www.sec.gov/Archives/edgar/data/1704292/000170429225000024/zlab-20250930.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 457182000,
      "display": "$457.2M",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-031626",
        "filing_date": "2026-05-07"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 14.981363835277438,
      "display": "+15.0%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-031626",
        "filing_date": "2026-05-07"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": -50.18439046156673,
      "display": "-50.2%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-031626",
        "filing_date": "2026-05-07"
      }
    }
  ],
  "watch_next": [
    {
      "type": "partner_dependency",
      "statement": "In April 2026 ZLAB announced a global clinical trial collaboration with Amgen to evaluate zoci in combination with Amgen’s IMDELLTRA (tarlatamab-dlle) for ES-SCLC.",
      "importance": "medium",
      "evidence": "In April 2026, we announced a global clinical trial collaboration with Amgen to evaluate zoci in combination with Amgen’s IMDELLTRA ® (tarlatamab-dlle), a DLL3/CD3 bispecific T-cell engager, for ES-SCLC and a clinical collaboration with Boehringer Ingelheim to evaluate zoci in combination with obrixtamig, a DLL3/CD3 bispecific T-cell engager, for SCLC and other NECs.",
      "source_date": "2026-05-07"
    }
  ],
  "related_tickers": [
    "ZLAB"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}