Zai Lab Limited American Depositary Shares - ZLAB STOCK NEWS

Zai Lab Limited has successfully closed its public offering of 4,776,000 American depositary shares (ADSs) at $150.00 each, totaling approximately $823.9 million before expenses. The underwriters fully exercised their option to purchase an additional 716,400 ADSs, bringing the combined gross proceeds of the offering to about $857.5 million. The offering was conducted under a shelf registration statement with the SEC. The closing of a related ordinary shares offering is anticipated around April 28, 2021.

Zai Lab announced its public offering, pricing 4,776,000 American depositary shares (ADSs) at $150 each, and 224,000 ordinary shares at HK$1164.20 per share. The offering aims to raise approximately $750 million before expenses. The underwriters have a 30-day option to purchase an additional 716,400 ADSs. The offering is set to close on or about April 23, 2021, for ADSs and April 28, 2021, for ordinary shares. This funding supports Zai Lab's innovative biopharmaceutical development focused on oncology and other medical conditions with unmet needs.

Zai Lab has announced a public offering of $750 million of American depositary shares (ADSs), each representing one ordinary share. The offering, which is underwritten, is managed by a consortium including J.P. Morgan, Goldman Sachs, and Jefferies. Zai Lab plans to grant underwriters a 30-day option for additional ADSs. The offering is structured under a shelf registration statement effective since April 19, 2021. Investors can opt for ordinary shares instead of ADSs. The completion of the offering is subject to market conditions.

Zai Lab (NASDAQ: ZLAB) and Novocure (NASDAQ: NVCR) announced favorable outcomes from the interim analysis of their phase 3 LUNAR trial for Tumor Treating Fields (TTFields) in treating stage 4 non-small cell lung cancer (NSCLC). The independent data monitoring committee (DMC) recommended proceeding with a reduced sample size of 276 patients, citing the previous target of 534 as potentially unethical. This adjustment could expedite the trial's completion by over a year. The trial aims to assess overall survival improvements when TTFields are combined with immune checkpoint inhibitors or docetaxel. The results indicate no systemic toxicity associated with TTFields.

Zai Lab (NASDAQ: ZLAB) has received approval from China's NMPA for QINLOCK (ripretinib) to treat advanced gastrointestinal stromal tumors (GIST) in patients previously treated with three or more kinase inhibitors. This approval establishes a new standard of care for fourth-line GIST patients in China, where approximately 30,000 new cases are diagnosed annually. QINLOCK showed significant improvements in progression-free and overall survival over placebo in the Phase 3 INVICTUS study. This marks Zai Lab's third innovative oncology product approval in 15 months.

Zai Lab Limited (NASDAQ: ZLAB) reported strong financial performance for 2020, with revenues increasing to $49 million from $13 million in 2019, driven by significant sales of ZEJULA and Optune. The company successfully launched ZEJULA and Optune in China and submitted NDAs for QINLOCK and NUZYRA. Zai Lab plans to launch QINLOCK and NUZYRA in 2021 and expand its pipeline with new partnerships and product candidates. Despite a net loss of $268.9 million, cash reserves grew to $1.19 billion, indicating robust financial health.

Zai Lab Limited (NASDAQ: ZLAB) announced it will report financial results for the year ended December 31, 2020, on March 1, 2021, before the U.S. market opens. The company will host a conference call and webcast at 8:00 a.m. ET on the same day to discuss these results and provide a corporate update. Zai Lab is focused on developing innovative biopharmaceuticals for cancer and autoimmune diseases, aiming to meet significant medical needs in large markets.

Zai Lab Limited (NASDAQ: ZLAB) announced participation in two upcoming virtual investor conferences in February 2021. The Guggenheim Healthcare Talks 2021 Oncology Day fireside chat is scheduled for February 11 at 12:00 p.m. ET, and the 2021 SVB Leerink Global Healthcare Conference presentation will occur on February 26 at 8:00 a.m. ET. A live webcast of the latter will be accessible under the 'Events & Presentations' section of Zai Lab's website, with an archived replay available for 90 days post-event. Zai Lab focuses on innovative treatments for significant medical needs globally.

Zai Lab has secured exclusive rights to develop and commercialize TPX-0022, a MET/SRC/CSF1R inhibitor from Turning Point Therapeutics, in Greater China. This collaboration involves a $25 million upfront payment to Turning Point, with potential milestone payments and royalties totaling approximately $336 million. Zai Lab already holds rights to another Turning Point drug, repotrectinib. The partnership aims to target MET-driven cancers more effectively in a region with high prevalence, with initial studies showing promising safety and efficacy data for TPX-0022.