x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Cayman Islands | 98-1144595 | |||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||
4560 Jinke Road Bldg. 1, Fourth Floor, Shanghai | 201210 | |||||
314 Main Street 4th Floor, Suite 100 Cambridge, MA, USA | 02142 | |||||
(Address of principal executive offices) | (Zip Code) | |||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||||
American Depositary Shares, each representing 10 Ordinary Share, par value $0.000006 per share | ZLAB | The Nasdaq Global Market | ||||||||||||||
Ordinary Shares, par value $0.000006 per share* | 9688 | The Stock Exchange of Hong Kong Limited |
Large accelerated filer | x | Accelerated filer | ||||||||||||||
Non-accelerated filer | o | |||||||||||||||
Smaller reporting company | ||||||||||||||||
Emerging growth company | o |
Notes | June 30, 2022 | December 31, 2021 | |||||||||||||||
$ | $ | ||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | 3 | 680,820 | 964,100 | ||||||||||||||
Short-term investments | 575,274 | 445,000 | |||||||||||||||
Accounts receivable (net of allowance for credit loss of $8 and $11 as of June 30, 2022 and December 31, 2021, respectively) | 27,054 | 47,474 | |||||||||||||||
Notes receivable | 10,968 | 7,335 | |||||||||||||||
Inventories, net | 4 | 23,339 | 18,951 | ||||||||||||||
Value added tax recoverable - current | 219 | — | |||||||||||||||
Prepayments and other current assets | 17,973 | 18,021 | |||||||||||||||
Total current assets | 1,335,647 | 1,500,881 | |||||||||||||||
Restricted cash, non-current | 803 | 803 | |||||||||||||||
Long term investments (including the fair value measured investment of $2,827 and $15,383 as of June 30, 2022 and December 31, 2021, respectively) | 2,827 | 15,605 | |||||||||||||||
Prepayments for equipment | 4,542 | 989 | |||||||||||||||
Property and equipment, net | 5 | 46,419 | 43,102 | ||||||||||||||
Operating lease right-of-use assets | 18,596 | 14,189 | |||||||||||||||
Land use rights, net | 7,286 | 7,811 | |||||||||||||||
Intangible assets, net | 1,673 | 1,848 | |||||||||||||||
Long-term deposits | 947 | 870 | |||||||||||||||
Value added tax recoverable | 37 | 23,858 | |||||||||||||||
Total assets | 1,418,777 | 1,609,956 | |||||||||||||||
Liabilities and shareholders’ equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | 108,443 | 126,163 | |||||||||||||||
Current operating lease liabilities | 6,824 | 5,927 | |||||||||||||||
Other current liabilities | 8 | 53,610 | 60,811 | ||||||||||||||
Total current liabilities | 168,877 | 192,901 | |||||||||||||||
Deferred income | 24,775 | 27,486 | |||||||||||||||
Non-current operating lease liabilities | 12,960 | 9,613 | |||||||||||||||
Total liabilities | 206,612 | 230,000 | |||||||||||||||
Commitments and contingencies (Note 14) | 0 | 0 | |||||||||||||||
Shareholders’ equity | |||||||||||||||||
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 960,520,140 and 955,363,980 shares issued as of June 30, 2022 and December 31, 2021, respectively; 958,494,830 and 954,981,050 shares outstanding as of June 30, 2022 and December 31, 2021, respectively) | 6 | 6 | |||||||||||||||
Additional paid-in capital | 2,857,202 | 2,825,948 | |||||||||||||||
Accumulated deficit | (1,638,401) | (1,418,074) | |||||||||||||||
Accumulated other comprehensive income (loss) | 4,487 | (23,645) | |||||||||||||||
Treasury Stock (at cost, 2,025,310 and 382,930 shares as of June 30, 2022 and December 31, 2021, respectively) | (11,129) | (4,279) | |||||||||||||||
Total shareholders’ equity | 1,212,165 | 1,379,956 | |||||||||||||||
Total liabilities and shareholders’ equity | 1,418,777 | 1,609,956 |
As of | ||||||||||||
Notes | March 31, 2022 | December 31, 2021 | ||||||||||
$ | $ | |||||||||||
Assets | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | 3 | 846,957 | 964,100 | |||||||||
Short-term investments | 465,274 | 445,000 | ||||||||||
Accounts receivable (net of allowance for credit loss of $10 and $11 as of March 31, 2022 and December 31, 2021, respectively) | 33,394 | 47,474 | ||||||||||
Notes receivable | 10,848 | 7,335 | ||||||||||
Inventories | 4 | 20,288 | 18,951 | |||||||||
Prepayments and other current assets | 16,490 | 18,021 | ||||||||||
Total current assets | 1,393,251 | 1,500,881 | ||||||||||
Restricted cash, non-current | 803 | 803 | ||||||||||
Long term investments (including the fair value measured investment of $8,444 and $15,383 as of March 31, 2022 and December 31, 2021, respectively) | 8,444 | 15,605 | ||||||||||
Prepayments for equipment | 4,978 | 989 | ||||||||||
Property and equipment, net | 5 | 45,227 | 43,102 | |||||||||
Operating lease right-of-use assets | 16,986 | 14,189 | ||||||||||
Land use rights, net | 7,774 | 7,811 | ||||||||||
Intangible assets, net | 1,745 | 1,848 | ||||||||||
Long-term deposits | 941 | 870 | ||||||||||
Value added tax recoverable | 20,766 | 23,858 | ||||||||||
Total assets | 1,500,915 | 1,609,956 | ||||||||||
Liabilities and shareholders’ equity | ||||||||||||
Current liabilities: | ||||||||||||
Accounts payable | 98,161 | 126,163 | ||||||||||
Current operating lease liabilities | 6,795 | 5,927 | ||||||||||
Other current liabilities | 8 | 49,956 | 60,811 | |||||||||
Total current liabilities | 154,912 | 192,901 | ||||||||||
Deferred income | 26,896 | 27,486 | ||||||||||
Non-current operating lease liabilities | 11,099 | 9,613 | ||||||||||
Total liabilities | 192,907 | 230,000 | ||||||||||
Commitments and contingencies (Note 1 4 ) | 0 | 0 | ||||||||||
Shareholders’ equity | ||||||||||||
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 957,035,440 and 955,363,980shares issued as of March 31, 2022 and December 31, 2021, respectively; 956,637,360 and 954,981,050 shares outstanding as of March 31, 2022 and December 31, 2021, respectively) | 6 | 6 | ||||||||||
Additional paid-in capital | 2,838,655 | 2,825,948 | ||||||||||
Accumulated deficit | (1,500,468 | ) | (1,418,074 | ) | ||||||||
Accumulated other comprehensive loss | (25,838 | ) | (23,645 | ) | ||||||||
Treasury Stock (at cost, 398,080 and 382,930 shares as of March 31, 2022 and December 31, 2021, respectively) | (4,347 | ) | (4,279 | ) | ||||||||
Total shareholders’ equity | 1,308,008 | 1,379,956 | ||||||||||
Total liabilities and shareholders’ equity | 1,500,915 | 1,609,956 | ||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
Notes | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||
Product revenue, net | 6 | 47,575 | 36,935 | 93,670 | 57,038 | ||||||||||||||||||||||||
Collaboration revenue | 6 | 601 | — | 1,230 | — | ||||||||||||||||||||||||
Total revenues | 48,176 | 36,935 | 94,900 | 57,038 | |||||||||||||||||||||||||
Expenses: | |||||||||||||||||||||||||||||
Cost of sales | (17,407) | (10,868) | (33,051) | (18,373) | |||||||||||||||||||||||||
Research and development | (66,084) | (142,224) | (119,938) | (346,076) | |||||||||||||||||||||||||
Selling, general, and administrative | (63,401) | (54,414) | (120,392) | (90,252) | |||||||||||||||||||||||||
Loss from operations | (98,716) | (170,571) | (178,481) | (397,663) | |||||||||||||||||||||||||
Interest income | 1,175 | 244 | 1,363 | 458 | |||||||||||||||||||||||||
Other income (expenses), net | (40,392) | 7,406 | (42,988) | 1,179 | |||||||||||||||||||||||||
Loss before income tax and share of loss from equity method investment | (137,933) | (162,921) | (220,106) | (396,026) | |||||||||||||||||||||||||
Income tax expense | 7 | — | — | — | — | ||||||||||||||||||||||||
Share of loss from equity method investment | — | (403) | (221) | (208) | |||||||||||||||||||||||||
Net loss | (137,933) | (163,324) | (220,327) | (396,234) | |||||||||||||||||||||||||
Net loss attributable to ordinary shareholders | (137,933) | (163,324) | (220,327) | (396,234) | |||||||||||||||||||||||||
Loss per share - basic and diluted | 9 | (0.14) | (0.18) | (0.23) | (0.44) | ||||||||||||||||||||||||
Weighted-average shares used in calculating net loss per ordinary share - basic and diluted | 957,684,820 | 930,455,310 | 956,603,250 | 907,231,320 | |||||||||||||||||||||||||
Loss per American Depositary Shares (“ADS”) - basic and diluted | (1.44) | (1.76) | (2.30) | (4.37) | |||||||||||||||||||||||||
Weighted-average ADSs used in calculating net loss per ADS - basic and diluted | 95,768,482 | 93,045,531 | 95,660,325 | 90,723,132 |
Three Months Ended March 31, | ||||||||||||
Notes | 2022 | 2021 | ||||||||||
$ | $ | |||||||||||
Revenues: | ||||||||||||
Product revenue , net | 6 | 46,095 | 20,103 | |||||||||
Collaboration revenue | 6 | 629 | — | |||||||||
Total revenues | 46,724 | 20,103 | ||||||||||
Expenses: | ||||||||||||
Cost of sales | (15,643 | ) | (7,505 | ) | ||||||||
Research and development | (53,854 | ) | (203,852 | ) | ||||||||
Selling, general and administrative | (56,991 | ) | (35,838 | ) | ||||||||
Loss from operations | (79,764 | ) | (227,092 | ) | ||||||||
Interest income | 188 | 214 | ||||||||||
Other expenses, net | (2,597 | ) | (6,227 | ) | ||||||||
Loss before income tax and share of income (loss) from equity method investment | (82,173 | ) | (233,105 | ) | ||||||||
Income tax expense | 7 | 0— | 0 | |||||||||
Share of income (loss) from equity method investment | (221 | ) | 195 | |||||||||
Net loss | (82,394 | ) | (232,910 | ) | ||||||||
Net loss attributable to ordinary shareholders | (82,394 | ) | (232,910 | ) | ||||||||
Loss per share - basic and diluted | 9 | (0.09 | ) | (0.26 | ) | |||||||
Weighted-average shares used in calculating net loss per ordinary share - basic and diluted | 955,499,030 | 883,749,280 | ||||||||||
Loss per American Depositary Shares (“ADS“)- basic and diluted | (0.86 | ) | (2.64 | ) | ||||||||
Weighted-average ADS s used in calculating net loss perADS - basic and diluted | 95,549,903 | 88,374,928 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||||||||
Net loss | (137,933) | (163,324) | (220,327) | (396,234) | |||||||||||||||||||||||||
Other comprehensive income (loss), net of tax of NaN: | |||||||||||||||||||||||||||||
Foreign currency translation adjustments | 30,325 | (5,241) | 28,132 | (2,341) | |||||||||||||||||||||||||
Comprehensive loss | (107,608) | (168,565) | (192,195) | (398,575) |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Net loss | (82,394 | ) | (232,910 | ) | ||||
Other comprehensive (loss) income, net of tax of NaN: | ||||||||
Foreign currency translation adjustments | (2,193 | ) | 2,900 | |||||
Comprehensive loss | (84,587 | ) | (230,010 | ) | ||||
Ordinary Shares | Additional paid in capital | Accumulated deficit | Accumulated other comprehensive (loss) income | Treasury Stock | Total | ||||||||||||||||||||||||||||||||||||||||||
Number of Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2021 | 955,363,980 | 6 | 2,825,948 | (1,418,074) | (23,645) | (382,930) | (4,279) | 1,379,956 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 514,800 | 0 | 0 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Exercise of shares options | 1,156,660 | 0 | 297 | — | — | — | — | 297 | |||||||||||||||||||||||||||||||||||||||
Receipt of employees’ shares to satisfy tax withholding obligations related to share-based compensation | — | — | — | — | — | (15,150) | (68) | (68) | |||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | 12,410 | — | — | — | — | 12,410 | |||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (82,394) | — | — | — | (82,394) | |||||||||||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (2,193) | — | — | (2,193) | |||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2022 | 957,035,440 | 6 | 2,838,655 | (1,500,468) | (25,838) | (398,080) | (4,347) | 1,308,008 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 683,700 | 0 | 0 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Exercise of shares options | 2,801,000 | 0 | 4,322 | — | — | — | — | 4,322 | |||||||||||||||||||||||||||||||||||||||
Receipt of employees’ shares to satisfy tax withholding obligations related to share-based compensation | — | — | — | — | — | (1,627,230) | (6,782) | (6,782) | |||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | 14,225 | — | — | — | — | 14,225 | |||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (137,933) | — | — | — | (137,933) | |||||||||||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | — | 30,325 | — | — | 30,325 | |||||||||||||||||||||||||||||||||||||||
Balance at June 30, 2022 | 960,520,140 | 6 | 2,857,202 | (1,638,401) | 4,487 | (2,025,310) | (11,129) | 1,212,165 |
Ordinary Shares | Additional paid in capital | Accumulated deficit | Accumulated other comprehensive (loss) income | Treasury Stock | Total | |||||||||||||||||||||||||||
Number of Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Balance at December 31, 2020 | 878,110,260 | 5 | 1,897,467 | (713,603 | ) | (14,524 | ) | — | — | 1,169,345 | ||||||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 816,000 | 0 | 0 | — | — | — | — | 0 | ||||||||||||||||||||||||
Exercise of shares option s | 583,640 | 0 | 702 | — | — | — | — | 702 | ||||||||||||||||||||||||
Issuance of ordinary shares in connection with collaboration and license arrangement (Note 1 2 ) | 5,681,820 | 0 | 62,250 | — | — | — | — | 62,250 | ||||||||||||||||||||||||
Issuance cost adjustment for secondary listing | — | — | 65 | — | — | — | — | 65 | ||||||||||||||||||||||||
Share-based compensation | — | — | 7,318 | — | — | — | — | 7,318 | ||||||||||||||||||||||||
Net loss | — | — | — | (232,910 | ) | — | — | — | (232,910 | ) | ||||||||||||||||||||||
Foreign currency translation | — | — | — | — | 2,900 | — | — | 2,900 | ||||||||||||||||||||||||
Balance at March 31, 2021 | 885,191,720 | 5 | 1,967,802 | (946,513 | ) | (11,624 | ) | — | — | 1,009,670 | ||||||||||||||||||||||
Balance at December 31, 2021 | 955,363,980 | 6 | 2,825,948 | | (1,418,074 | ) | (23,645 | ) | (382,930 | ) | (4,279 | ) | 1,379,956 | |||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 514,800 | 0 | 0 | — | — | — | — | — | ||||||||||||||||||||||||
Exercise of shares options | 1,156,660 | 0 | 297 | — | — | — | — | 297 | ||||||||||||||||||||||||
Receipt of employees’ shares to satisfy tax withholding obligations related to share-based compensation | — | — | — | — | — | (15,150 | ) | (68 | ) | (68 | ) | |||||||||||||||||||||
Share-based compensation | — | — | 12,410 | — | — | — | — | 12,410 | ||||||||||||||||||||||||
Net loss | — | — | — | (82,394 | ) | — | — | — | (82,394 | ) | ||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (2,193 | ) | — | — | (2,193 | ) | ||||||||||||||||||||||
Balance at March 31, 2022 | 957,035,440 | 6 | 2,838,655 | (1,500,468 | ) | (25,838 | ) | (398,080 | ) | (4,347 | ) | 1,308,008 | ||||||||||||||||||||
Ordinary Shares | Additional paid in capital | Accumulated deficit | Accumulated other comprehensive (loss) income | Treasury Stock | Total | ||||||||||||||||||||||||||||||||||||||||||
Number of Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2020 | 878,110,260 | 5 | 1,897,467 | (713,603) | (14,524) | — | — | 1,169,345 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 816,000 | 0 | 0 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Exercise of shares options | 583,640 | 0 | 702 | — | — | — | — | 702 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares in connection with collaboration and license arrangement | 5,681,820 | 0 | 62,250 | — | — | — | — | 62,250 | |||||||||||||||||||||||||||||||||||||||
Issuance cost adjustment for secondary listing | — | — | 65 | — | — | — | — | 65 | |||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | 7,318 | — | — | — | — | 7,318 | |||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (232,910) | — | — | — | (232,910) | |||||||||||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | — | 2,900 | — | — | 2,900 | |||||||||||||||||||||||||||||||||||||||
Balance at March 31, 2021 | 885,191,720 | 5 | 1,967,802 | (946,513) | (11,624) | — | — | 1,009,670 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares upon vesting of restricted shares | 321,000 | 0 | 0 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Exercise of shares option | 4,905,170 | 0 | 3,289 | — | — | — | — | 3,289 | |||||||||||||||||||||||||||||||||||||||
Issuance of ordinary shares upon follow-on public offering, net of issuance cost of $879 | 57,164,000 | 1 | 817,995 | — | — | — | — | 817,996 | |||||||||||||||||||||||||||||||||||||||
Receipt of employees’ shares to satisfy tax withholding obligations related to share-based compensation | — | — | — | — | — | (60,860) | (924) | (924) | |||||||||||||||||||||||||||||||||||||||
Share-based compensation | — | — | 10,232 | — | — | — | — | 10,232 | |||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (163,324) | — | — | — | (163,324) | |||||||||||||||||||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (5,241) | — | — | (5,241) | |||||||||||||||||||||||||||||||||||||||
Balance at June 30, 2021 | 947,581,890 | 6 | 2,799,318 | (1,109,837) | (16,865) | (60,860) | (924) | 1,671,698 |
Six Months Ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
$ | $ | ||||||||||
Operating activities | |||||||||||
Net loss | (220,327) | (396,234) | |||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
Allowance for credit loss | (3) | 4 | |||||||||
Inventory write-down | 193 | 290 | |||||||||
Depreciation and amortization expenses | 3,874 | 2,975 | |||||||||
Amortization of deferred income | (1,386) | (156) | |||||||||
Share-based compensation | 26,634 | 17,550 | |||||||||
Noncash research and development expenses | — | 62,250 | |||||||||
Share of loss from equity method investment | 221 | 208 | |||||||||
Loss from fair value changes of equity investment with readily determinable fair value | 12,556 | — | |||||||||
(Gain) loss on disposal of property and equipment | (11) | 4 | |||||||||
Noncash lease expenses | 3,825 | 2,779 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | 20,422 | (12,868) | |||||||||
Notes receivable | (3,633) | — | |||||||||
Inventories | (4,582) | 1,740 | |||||||||
Prepayments and other current assets | 48 | (1,953) | |||||||||
Long-term deposits | (78) | (29) | |||||||||
Value added tax recoverable | 23,602 | (1,682) | |||||||||
Accounts payable | (17,718) | 62,980 | |||||||||
Other current liabilities | 29,510 | 28,078 | |||||||||
Operating lease liabilities | (3,849) | (2,214) | |||||||||
Deferred income | (1,325) | 930 | |||||||||
Net cash used in operating activities | (132,027) | (235,348) | |||||||||
Cash flows from investing activities: | |||||||||||
Purchases of short-term investments | (260,274) | — | |||||||||
Proceeds from maturity of short-term investment | 130,000 | 743,902 | |||||||||
Purchase of property and equipment | (13,488) | (5,647) | |||||||||
Purchase of intangible assets | (107) | (427) | |||||||||
Net cash (used in) provided by investing activities | (143,869) | 737,828 | |||||||||
Cash flows from financing activities: | |||||||||||
Proceeds from exercises of stock options | 4,619 | 3,992 | |||||||||
Proceeds from issuance of ordinary shares upon public offerings | — | 818,874 | |||||||||
Payment of public offering costs | — | (1,323) | |||||||||
Employee taxes paid related to net share settlement of equity awards | (6,859) | (594) | |||||||||
Net cash (used in) provided by financing activities | (2,240) | 820,949 | |||||||||
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (5,144) | 1,028 | |||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (283,280) | 1,324,457 | |||||||||
Cash, cash equivalents and restricted cash - beginning of period | 964,903 | 442,859 | |||||||||
Cash, cash equivalents and restricted cash - end of period | 681,623 | 1,767,316 | |||||||||
Supplemental disclosure on non-cash investing and financing activities: | |||||||||||
Payables for purchase of property and equipment | 1,661 | 1,720 | |||||||||
Payables for intangible assets | 270 | 58 | |||||||||
Payables for public offering costs | — | 555 | |||||||||
Payables for treasury stock | 17 | — | |||||||||
Receivables for stock option exercise under equity incentive plans | 12 | — | |||||||||
Right-of-use asset acquired under operating leases | 8,451 | — | |||||||||
Supplemental disclosure of cash flow information: | |||||||||||
Cash and cash equivalents | 680,820 | 1,766,573 | |||||||||
Restricted cash, non-current | 803 | 743 | |||||||||
Total cash and cash equivalents and restricted cash | 681,623 | 1,767,316 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Operating activities | ||||||||
Net loss | (82,394 | ) | (232,910 | ) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Allowance for credit loss | (1 | ) | 1 | |||||
Inventory write-down | 138 | 14 | ||||||
Depreciation and amortization expenses | 2,013 | 1,448 | ||||||
Amortization of deferred income | (708 | ) | (78 | ) | ||||
Share-based compensation | 12,410 | 7,318 | ||||||
Noncash research and development expenses | 0 | 62,250 | ||||||
Share of (income) loss from equity method investment | 221 | (195 | ) | |||||
Loss from fair value changes of equity investment with readily determinable fair value | 6,939 | 0 | ||||||
(Gain) loss on disposal of property and equipment | (11 | ) | 4 | |||||
Noncash lease expenses | 2,017 | 1,322 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | 14,080 | (3,651 | ) | |||||
Notes receivable | (3,513 | ) | 0 | |||||
Inventories | (1,475 | ) | 502 | |||||
Prepayments and other current assets | 1,531 | (3,386 | ) | |||||
Long - term deposits | (71 | ) | (47 | ) | ||||
Value added tax recoverable | 3,092 | (1,558 | ) | |||||
Accounts payable | (28,002 | ) | (21,226 | ) | ||||
Other current liabilities | (11,122 | ) | 21,707 | |||||
Operating lease liabilities | (2,389 | ) | (893 | ) | ||||
Deferred income | 118 | (122 | ) | |||||
Net cash used in operating activities | (87,127 | ) | (169,500 | ) | ||||
Cash flows from investing activities: | ||||||||
Purchases of short-term investments | (120,274 | ) | 0 | |||||
Proceeds from maturity of short-term investment | 100,000 | 743,902 | ||||||
Disposal of property and equipment | 25 | — | ||||||
Purchase of property and equipment | (9,743 | ) | (1,683 | ) | ||||
Purchase of intangible assets | (152 | ) | (214 | ) | ||||
Net cash (used in) provided by investing activities | (30,144 | ) | 742,005 | |||||
Cash flows from financing activities: | ||||||||
Proceeds from exercises of stock options | 297 | 702 | ||||||
Payment of public offering costs | 0 | (973 | ) | |||||
Employee taxes paid related to net share settlement of equity awards | (39 | ) | — | |||||
Net cash provided by (used in) financing activities | 258 | (271 | ) | |||||
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (130 | ) | (930 | ) | ||||
Net (decrease) increase in cash, cash equivalents and restricted cash | (117,143 | ) | 571,304 | |||||
Cash, cash equivalents and restricted cash - beginning of period | 964,903 | 442,859 | ||||||
Cash, cash equivalents and restricted cash - end of period | 847,760 | 1,014,163 | ||||||
Supplemental disclosure on non-cash investing and financing activities: | ||||||||
Payables for purchase of property and equipment | 668 | 439 | ||||||
Payables for intangible assets | 73 | 26 | ||||||
Payables for public offering costs | 0 | 26 | ||||||
Payables for treasury stock | 55 | — | ||||||
Supplemental disclosure of cash flow information: | ||||||||
Cash and cash equivalents | 846,957 | 1,013,420 | ||||||
Restricted cash, non-current | 803 | 743 | ||||||
Total cash and cash equivalents and restricted cash | 847,760 | 1,014,163 | ||||||
Description | Fair Value as of June 30, 2022 US$ | Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) US$ | |||||||||
Equity Investments with Readily Determinable Fair Value | 2,827 | 2,827 | |||||||||
Description | Fair Value as of December 31, 2021 US$ | Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) US$ | |||||||||
Equity Investments with Readily Determinable Fair Value | 15,383 | 15,383 |
Description | Fair Value as of March 31, 2022 US$ | Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) US$ | ||||||
Equity Investments with Readily Determinable Fair Value | 8,444 | 8,444 | ||||||
Description | Fair Value as of December 31, 202 1 US$ | Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) US$ | ||||||
Equity Investments with Readily Determinable Fair Value | 15,383 | 15,383 |
As of | ||||||||
March 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
Cash at bank and in hand | 547,259 | 663,472 | ||||||
Cash equivalents (i) | 299,698 | 300,628 | ||||||
846,957 | 964,100 | |||||||
Denominated in: | ||||||||
US$ | 782,295 | 932,888 | ||||||
RMB (ii) | 58,569 | 23,791 | ||||||
Hong Kong dollar (“HK$”) | 5,551 | 6,674 | ||||||
Australian dollar (“A$”) | 495 | 475 | ||||||
Taiwan dollar (“TW$”) | 47 | 272 | ||||||
846,957 | 964,100 | |||||||
June 30, 2022 | December 31, 2021 | ||||||||||
$ | $ | ||||||||||
Cash at bank and in hand | 381,225 | 663,472 | |||||||||
Cash equivalents (i) | 299,595 | 300,628 | |||||||||
680,820 | 964,100 | ||||||||||
Denominated in: | |||||||||||
US$ | 611,478 | 932,888 | |||||||||
RMB (ii) | 63,359 | 23,791 | |||||||||
Hong Kong dollar (“HK$”) | 5,138 | 6,674 | |||||||||
Australian dollar (“A$”) | 614 | 475 | |||||||||
Taiwan dollar (“TW$”) | 231 | 272 | |||||||||
680,820 | 964,100 |
June 30, 2022 | December 31, 2021 | ||||||||||
$ | $ | ||||||||||
Finished goods | 4,342 | 5,632 | |||||||||
Raw materials | 18,476 | 13,231 | |||||||||
Work in Progress | 521 | 88 | |||||||||
Inventories, net | 23,339 | 18,951 |
As of | ||||||||
March 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
Finished goods | 4,733 | 5,632 | ||||||
Raw materials | 15,555 | 13,231 | ||||||
Work in Progress | 0 | 88 | ||||||
Inventories | 20,288 | 18,951 | ||||||
June 30, 2022 | December 31, 2021 | ||||||||||
$ | $ | ||||||||||
Office equipment | 822 | 836 | |||||||||
Electronic equipment | 6,370 | 5,036 | |||||||||
Vehicle | 210 | 220 | |||||||||
Laboratory equipment | 18,593 | 17,069 | |||||||||
Manufacturing equipment | 13,984 | 14,600 | |||||||||
Leasehold improvements | 10,230 | 10,432 | |||||||||
Construction in progress | 15,343 | 11,334 | |||||||||
65,552 | 59,527 | ||||||||||
Less: accumulated depreciation | (19,133) | (16,425) | |||||||||
Property and equipment, net | 46,419 | 43,102 |
As of | ||||||||
March 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
Office equipment | 838 | 836 | ||||||
Electronic equipment | 5,932 | 5,036 | ||||||
Vehicle | 222 | 220 | ||||||
Laboratory equipment | 18,130 | 17,069 | ||||||
Manufacturing equipment | 14,721 | 14,600 | ||||||
Leasehold improvements | 10,506 | 10,432 | ||||||
Construction in progress | 13,126 | 11,334 | ||||||
63,475 | 59,527 | |||||||
Less: accumulated depreciation | (18,248 | ) | (16,425 | ) | ||||
Property and equipment, net | 45,227 | 43,102 | ||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Product revenue - gross | 54,339 | 41,380 | 107,649 | 87,935 | |||||||||||||||||||
Less: Rebate and sales return | (6,764) | (4,445) | (13,979) | (30,897) | |||||||||||||||||||
Product revenue - net | 47,575 | 36,935 | 93,670 | 57,038 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Product revenue - gross | 53,310 | 46,555 | ||||||
Less: Rebate and sales return | (7,215 | ) | (26,452 | ) | ||||
Product revenue - net | 46,095 | 20,103 | ||||||
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
ZEJULA | 29,597 | 12,606 | ||||||
Optune | 12,797 | 7,130 | ||||||
QINLOCK | 2,959 | 367 | ||||||
NUZYRA | 742 | 0 | ||||||
Product revenue - net | 46,095 | 20,103 | ||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
ZEJULA | 34,052 | 23,366 | 63,649 | 35,972 | |||||||||||||||||||
Optune | 11,592 | 9,535 | 24,389 | 16,665 | |||||||||||||||||||
QINLOCK | 623 | 4,034 | 3,582 | 4,401 | |||||||||||||||||||
NUZYRA | 1,308 | — | 2,050 | — | |||||||||||||||||||
Product revenue - net | 47,575 | 36,935 | 93,670 | 57,038 |
As of | ||||||||
March 31, 2022 | December 31, 2021 | |||||||
$ | $ | |||||||
Payroll | 16,318 | 25,685 | ||||||
Accrued professional service fee | 5,170 | 4,319 | ||||||
Payables for purchase of property and equipment | 668 | 2,568 | ||||||
Accrued rebate to distributors | 14,625 | 15,001 | ||||||
Tax payables | 9,931 | 8,817 | ||||||
Others (note (i)) | 3,244 | 4,421 | ||||||
Total | 49,956 | 60,811 | ||||||
June 30, 2022 | December 31, 2021 | ||||||||||
$ | $ | ||||||||||
Payroll | 18,976 | 25,685 | |||||||||
Accrued rebate to distributors | 11,249 | 15,001 | |||||||||
Tax payables | 9,896 | 8,817 | |||||||||
Accrued professional service fee | 6,450 | 4,319 | |||||||||
Other (i) | 5,827 | 4,421 | |||||||||
Payables for purchase of property and equipment | 1,212 | 2,568 | |||||||||
Total | 53,610 | 60,811 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Numerator: | ||||||||
Net loss attributable to ordinary shareholders | (82,394 | ) | (232,910 | ) | ||||
Denominator: | ||||||||
Weighted average number of ordinary shares- basic and diluted | 955,499,030 | 883,749,280 | ||||||
Net loss per share - basic and diluted | (0.09 | ) | (0.26 | ) | ||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Numerator: | |||||||||||||||||||||||
Net loss attributable to ordinary shareholders | (137,933) | (163,324) | (220,327) | (396,234) | |||||||||||||||||||
Denominator: | |||||||||||||||||||||||
Weighted average number of ordinary shares - basic and diluted | 957,684,820 | 930,455,310 | 956,603,250 | 907,231,320 | |||||||||||||||||||
Net loss per share - basic and diluted | (0.14) | (0.18) | (0.23) | (0.44) |
June 30, 2022 | June 30, 2021 | ||||||||||
Share options | 91,546,280 | 86,294,400 | |||||||||
Non-vested restricted shares | 34,356,250 | 6,325,350 |
As of | ||||||||
March 31, 2022 | March 31, 2021 | |||||||
Share options | 80,514,330 | 86,932,740 | ||||||
Non-vested restricted shares | 9,846,360 | 4,800,100 |
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Selling, general and administrative | 4,069 | 3,259 | ||||||
Research and development | 3,138 | 2,290 | ||||||
Total | 7,207 | 5,549 | ||||||
Three Months Ended March 31, | ||||||||
2022 | 2021 | |||||||
$ | $ | |||||||
Selling, general and administrative | 2,923 | 1,211 | ||||||
Research and development | 2,280 | 558 | ||||||
Total | 5,203 | 1,769 | ||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Selling, general and administrative | 8,931 | 5,962 | 15,923 | 10,432 | |||||||||||||||||||
Research and development | 5,294 | 4,270 | 10,712 | 7,118 | |||||||||||||||||||
Total | 14,225 | 10,232 | 26,635 | 17,550 |
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | $ | % | 2022 | 2021 | $ | % | |||||||||||||||||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Product revenue, net | 47,575 | 36,935 | 10,640 | 29 | % | 93,670 | 57,038 | 36,632 | 64 | % | ||||||||||||||||||||||||||||||||||||||||
Collaboration revenue | 601 | — | 601 | 100 | % | 1,230 | — | 1,230 | 100 | % | ||||||||||||||||||||||||||||||||||||||||
Total revenues | 48,176 | 36,935 | 11,241 | 30 | % | 94,900 | 57,038 | 37,862 | 66 | % | ||||||||||||||||||||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | (17,407) | (10,868) | (6,539) | 60 | % | (33,051) | (18,373) | (14,678) | 80 | % | ||||||||||||||||||||||||||||||||||||||||
Research and development | (66,084) | (142,224) | 76,140 | (54) | % | (119,938) | (346,076) | 226,138 | (65) | % | ||||||||||||||||||||||||||||||||||||||||
Selling, general, and administrative | (63,401) | (54,414) | (8,987) | 17 | % | (120,392) | (90,252) | (30,140) | 33 | % | ||||||||||||||||||||||||||||||||||||||||
Loss from operations | (98,716) | (170,571) | 71,855 | (42) | % | (178,481) | (397,663) | 219,182 | (55) | % | ||||||||||||||||||||||||||||||||||||||||
Interest income | 1,175 | 244 | 931 | 382 | % | 1,363 | 458 | 905 | 198 | % | ||||||||||||||||||||||||||||||||||||||||
Other income (expenses), net | (40,392) | 7,406 | (47,798) | (645) | % | (42,988) | 1,179 | (44,167) | (3746) | % | ||||||||||||||||||||||||||||||||||||||||
Loss before income tax and share of loss from equity method investment | (137,933) | (162,921) | 24,988 | (15) | % | (220,106) | (396,026) | 175,920 | (44) | % | ||||||||||||||||||||||||||||||||||||||||
Income tax expense | — | — | — | — | % | — | — | — | — | % | ||||||||||||||||||||||||||||||||||||||||
Share of loss from equity method investment | — | (403) | 403 | (100) | % | (221) | (208) | (13) | 6 | % | ||||||||||||||||||||||||||||||||||||||||
Net loss | (137,933) | (163,324) | 25,391 | (16) | % | (220,327) | (396,234) | 175,907 | (44) | % | ||||||||||||||||||||||||||||||||||||||||
Net loss attributable to ordinary shareholders | (137,933) | (163,324) | 25,391 | (16) | % | (220,327) | (396,234) | 175,907 | (44) | % |
Three months ended March 31, | ||||||||||||||||
(in thousands) | 2022 | % | 2021 | % | ||||||||||||
Revenues: | ||||||||||||||||
Product revenue, net | $ | 46,095 | 98.7 | $ | 20,103 | 100.0 | ||||||||||
Collaboration revenue | 629 | 1.3 | — | — | ||||||||||||
Total | $ | 46,724 | 100.0 | $ | 20,103 | 100.0 | ||||||||||
(in thousands) | Three months ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | % | 2021 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | $ | % | 2022 | 2021 | $ | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ZEJULA | $ | 29,597 | 64.2 | $ | 12,606 | 62.7 | ZEJULA | 34,052 | 23,366 | 10,686 | 46 | % | 63,649 | 35,972 | 27,677 | 77 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
Optune | 12,797 | 27.8 | 7,130 | 35.5 | Optune | 11,592 | 9,535 | 2,057 | 22 | % | 24,389 | 16,665 | 7,724 | 46 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
QINLOCK | 2,959 | 6.4 | 367 | 1.8 | QINLOCK | 623 | 4,034 | (3,411) | (85) | % | 3,582 | 4,401 | (819) | (19) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
NUZYRA | 742 | 1.6 | — | — | NUZYRA | 1,308 | — | 1,308 | — | % | 2,050 | — | 2,050 | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total product revenue, net | $ | 46,095 | 100.0 | $ | 20,103 | 100.0 | Total product revenue, net | 47,575 | 36,935 | 10,640 | 29 | % | 93,670 | 57,038 | 36,632 | 64 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Three months ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | % | 2021 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | $ | % | 2022 | 2021 | $ | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Research and development expenses: | Research and development expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personnel compensation and related costs | $ | 24,802 | 46.1 | $ | 12,697 | 6.2 | Personnel compensation and related costs | $ | 27,045 | $ | 17,282 | $ | 9,763 | 56 | % | $ | 51,847 | $ | 29,979 | $ | 21,868 | 73 | % | |||||||||||||||||||||||||||||||||||||||||||
Licensing fees | — | — | 171,282 | 84.0 | Licensing fees | 10,436 | 97,966 | (87,530) | (89) | % | 10,436 | 269,248 | (258,812) | (96) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
CROs/CMOs/Investigators expenses | 23,550 | 43.7 | 15,526 | 7.6 | CROs/CMOs/Investigators expenses | 23,368 | 19,618 | 3,750 | 19 | % | 46,918 | 35,144 | 11,774 | 34 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other costs | 5,502 | 10.2 | 4,347 | 2.2 | Other costs | 5,235 | 7,358 | (2,123) | (29) | % | 10,737 | 11,705 | (968) | (8) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 53,854 | 100.0 | $ | 203,852 | 100.0 | Total | $ | 66,084 | $ | 142,224 | $ | (76,140) | (54) | % | $ | 119,938 | $ | 346,076 | $ | (226,138) | (65) | % | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | $ | % | 2022 | 2021 | $ | % | |||||||||||||||||||||||||||||||||||||||||||
Research and development expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Clinical programs | $ | 33,292 | $ | 93,433 | $ | (60,141) | (64) | % | $ | 56,144 | $ | 279,689 | $ | (223,545) | (80) | % | ||||||||||||||||||||||||||||||||||
Pre-clinical programs | 1,657 | 28,545 | (26,888) | (94) | % | 4,222 | 31,045 | (26,823) | (86) | % | ||||||||||||||||||||||||||||||||||||||||
Unallocated research and development expenses | 30,835 | 20,246 | 10,589 | 52 | % | 59,272 | 35,342 | 23,930 | 68 | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 65,784 | $ | 142,224 | $ | (76,440) | (54) | % | $ | 119,638 | $ | 346,076 | $ | (226,438) | (65) | % |
(in thousands) | Three months ended March 31, | |||||||||||||||
2022 | % | 2021 | % | |||||||||||||
Research and development expenses: | ||||||||||||||||
Clinical programs | $ | 22,852 | 42.4 | $ | 186,256 | 91.4 | ||||||||||
Pre-clinical programs | 2,565 | 4.8 | 2,500 | 1.2 | ||||||||||||
Unallocated research and development expenses | 28,437 | 52.8 | 15,096 | 7.4 | ||||||||||||
Total | $ | 53,854 | 100.0 | $ | 203,852 | 100.0 | ||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | $ | % | 2022 | 2021 | $ | % | |||||||||||||||||||||||||||||||||||||||||||
Selling, General and Administrative Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Personnel compensation and related costs | $ | 41,320 | $ | 30,060 | $ | 11,260 | 37 | % | $ | 79,523 | $ | 53,472 | $ | 26,051 | 49 | % | ||||||||||||||||||||||||||||||||||
Professional service fees | 8,072 | 4,806 | 3,266 | 68 | % | 15,505 | 8,389 | 7,116 | 85 | % | ||||||||||||||||||||||||||||||||||||||||
Other costs | 14,009 | 19,548 | (5,539) | (28) | % | 25,364 | 28,391 | (3,027) | (11) | % | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 63,401 | $ | 54,414 | $ | 8,987 | 17 | % | $ | 120,392 | $ | 90,252 | $ | 30,140 | 33 | % |
(in thousands) | Three months ended March 31, | |||||||||||||||
2022 | % | 2021 | % | |||||||||||||
Selling, General and Administrative Expenses: | ||||||||||||||||
Personnel compensation and related costs | $ | 38,203 | 67.0 | $ | 23,412 | 65.3 | ||||||||||
Professional service fees | 7,433 | 13.0 | 3,583 | 10.0 | ||||||||||||
Other costs | 11,355 | 20.0 | 8,843 | 24.7 | ||||||||||||
Total | $ | 56,991 | 100.0 | $ | 35,838 | 100.0 | ||||||||||
Six Months Ended June 30, | Change | |||||||||||||||||||
2022 | 2021 | $ | ||||||||||||||||||
Net cash used in operating activities | $ | (132,027) | $ | (235,348) | $ | 103,321 | ||||||||||||||
Net cash (used in) provided by investing activities | (143,869) | 737,828 | (881,697) | |||||||||||||||||
Net cash (used in) provided by financing activities | (2,240) | 820,949 | (823,189) | |||||||||||||||||
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | (5,144) | 1,028 | (6,172) | |||||||||||||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | $ | (283,280) | $ | 1,324,457 | $ | (1,607,737) |
Three months ended March 31, | ||||||||
(in thousands) | 2022 | 2021 | ||||||
Net cash used in operating activities | $ | (87,127 | ) | $ | (169,500 | ) | ||
Net cash (used in) provided by investing activities | (30,144 | ) | 742,005 | |||||
Net cash provided by (used in) financing activities | 258 | (271 | ) | |||||
Effect of foreign exchange rate changes | (130 | ) | (930 | ) | ||||
Net (decreases) increases in cash, cash equivalents and restricted cash | $ | (117,143 | ) | $ | 571,304 | |||
Exhibit Number | Exhibit Title | |||||||
3.1 | ||||||||
10.1# | ||||||||
10.2# | ||||||||
31.1* | ||||||||
31.2* | ||||||||
32.1** | ||||||||
32.2** | ||||||||
101.INS* | ||||||||
Inline XBRL Instance Document-the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | ||||||||
101.SCH* | ||||||||
Inline XBRL Taxonomy Extension Schema Document | ||||||||
101.CAL* | ||||||||
Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||||||
101.LAB* | ||||||||
Inline XBRL Taxonomy Extension Label Linkbase Document | ||||||||
101.PRE* | ||||||||
Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||||||
101.DEF* | ||||||||
Inline XBRL Taxonomy Extension Definitions Linkbase Document | ||||||||
104* | ||||||||
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
ZAI LAB LIMITED | |||||||||||
Dated: | By: | /s/ | |||||||||
Name: | |||||||||||
Title: | |||||||||||