Zai Lab Limited (ZLAB) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 10, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, ladies and gentlemen. Thank you for standing by, and welcome to Zai Lab First Quarter 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, today's call is being recorded.

It is now my pleasure to turn the floor over to Billy Cho, Chief Financial Officer of Zai Lab, who will make introductory comments.

Billy Cho

Thank you, operator. Good morning, good evening, and welcome, everyone. Zai Lab recently issued a press release providing the details of the company's first quarter 2023 financial results, as well as some recent product highlights and corporate update. The press release is available in the Investor Relations section of the company's website at ir.zailaboratory.com.

Today's call will be led by Dr. Samantha Du, Zai Lab’s Founder, Chief Executive Officer and Chairperson. She will be joined by Josh Smiley, President and Chief Operating Officer. Dr. Rafael Amado, President and Head of Global Development Oncology and Research and Develop will discuss advances with our oncology product candidates; Dr. Harald Reinhart, President and Head of Global Development, Neuroscience, Autoimmune and Infectious Diseases will speak about progress we’ve made in those three therapeutic areas. And I will discuss the performance of our market products and conclude the comments on our first quarter financial results. Additional executives will be available to answer questions during the Q&A portion of the call.

As a reminder, during today's call, Zai Lab will be making certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to our business plans and objectives, clinical trials, sales and revenue forecasts for our products and product candidates, regulatory applications and commercial launches. Such forward-looking statements are not guarantees of future performance and therefore you should not put undue reliance upon them. These statements are subject to numerous risks and uncertainties and actual results could differ materially from what we expect due to a variety of factors, including those discussed in our SEC filings.

At this time, it is my pleasure to turn the call over to Zai Lab's Founder, Chief Executive Officer and Chairperson, Dr. Samantha Du.

Samantha Du

Thank you Billy. Hello everyone. Thank you all for joining us today. Our first quarter results and progress continue to demonstrate Zai Lab’s potential global best-in-class portfolio and track record of execution, despite challenges from China’s re-opening at the beginning of the year. The positive top line readout from the Phase 3 EMERGENT-3 trial of KarXT in schizophrenia and the positive analysis from the Phase 2 innova TV 207 study from TIVDAK in head and neck cancer further support our belief that these products provide important treatment options for patients in China and globally. We are very excited by the unanimous recommendation of the U.S. Food and Drug Administration Advisory Committee’s in support of approval of sulbactam-durlobactam, the first pathogen-targeted therapy for patients with severe and life-threatening infections caused by Acinetobacter.