Zai Lab Limited (NASDAQ:ZLAB) Q3 2024 Earnings Conference Call November 12, 2024 8:00 AM ET

Company Participants

Christine Chiou - Senior Vice President, Investor Relations
Samantha Du - Founder, Chairperson and Chief Executive Officer
Josh Smiley - President and Chief Operating Officer
Rafael Amado – President, Head of Global Research and Development
Yajing Chen - Chief Financial Officer

Conference Call Participants

Michael Yee - Jefferies
Yigal Nochomovitz - Citigroup

Operator

Hello, ladies and gentlemen. Thank you for standing by. And welcome to Zai Lab’s Third Quarter 2024 Financial Results Conference Call. At this time, all participants are in a 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. Hello, everyone and welcome to Zai Lab’s third quarter 2024 earnings call. Today’s call will be led by Dr. Samantha Du, Zai Lab’s Founder, CEO and Chairperson. She will be joined by Josh Smiley, President and Chief Operating Officer; Dr. Rafael Amado, President and Head of Global Research and Development; 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’ll be making certain forward-looking statements based on our current expectations. These statements are subject to numerous risks and uncertainties that may cause actual results differ materially from what we expect due to a variety of factors, including those discussed in our SEC filings.

We will also refer to adjusted loss from operations, which is a non-GAAP financial measure. Please refer to our earnings release furnished with the SEC on November 12, 2024 for additional information on this non-GAAP financial disclosure.

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

Samantha Du

Thank you, Christine, and welcome everyone. This has been a tremendous year for Zai Lab, as we continue to executive our three key strategic priorities, driving revenue growth, expanding our global pipeline and enhancing operational efficiency.

Starting with revenue growth. Total net product revenue for the third quarter grew 47% year-over-year. Our commercial business in China is growing rapidly with VYVGART on track to become one of our potential blockbuster products. Later this year, we expect to launch multiple new products and indications which will further grow our top line.