Zai Lab Limited (ZLAB) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 8, 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 Second Quarter 2023 Financial Results Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. As a reminder, today's call is being recorded.

It is now my pleasure to turn the floor over to Christine Chiou, Senior Vice President of Investor Relations. Please go ahead.

Christine Chiou

Thank you, operator. Good morning, good evening, and welcome, to Zai Lab’s Second Quarter 2023 Earnings Call. Today’s call will be led by Dr. Samantha Du, Zai Lab’s Founder, CEO and Chair Person. She will be joined by Josh Smiley, President and Chief Operating Officer, Dr. Rafael Amado, President and Head of Global Oncology and Research and Development, Dr. Harald Reinhart, President and Head of Global Development, Neuroscience, Autoimmune and Infectious Diseases and Dr. Yajing Chen, Chief Financial Officer. Jonathan Wang, our Chief Business Officer will also be available to answer questions during the Q&A portion of the call.

As a reminder, during today's call, we will all be making certain forward-looking statements based on their current expectations. These statements are subject to numerous risk and uncertainties that may cause actual results to differ materially from what we expect due to a variety of factors including those discussed in our SEC filings. We will also refer to product revenue growth rates on a constant exchange rate basis, which is a non-GAAP financial measure. Please refer to our earnings release furnished with the SEC on August 7, 2023 for certain disclosures regarding this non-GAAP financial measures.

At this time, it is my pleasure to turn the call over to Dr. Samantha Du.

Samantha Du

Thank you, Christine. Hello, everyone. Thank you all for joining us today. In the second quarter of 2023, we continue to successfully execute across our business achieving multiple key milestones. Our commercial products continue to deliver strong double-digit growth. We progressed several important late-stage and early development programs within our pipeline.

Most importantly, we gained NMPA approval of VYVGART, a first-in-class therapy that has the potential to significantly transform the lives of patients living with gMG in China, and we were able to achieve this monumental milestone on June 30th, which makes us eligible for NRDL listing in 2024. Recently, we also had positive registrational data from ADHERE trial evaluating VYVGART Hytrulo in CIDP and the results were outstanding.