Zai Lab Ltd (ZLAB) stock surged 5.50% in pre-market trading on Thursday, following the company's robust fourth-quarter and full-year 2024 financial results and encouraging updates on its pipeline development.
The key highlights that likely drove the stock's pre-market rally include:
1. Financial Performance:
- Q4 revenue grew 66% year-over-year to $109.1 million, driven by strong sales of VYVGART and continued growth in ZEJULA and NUZYRA.
- Full-year 2024 revenue increased 50% to $399.0 million, with the VYVGART franchise generating $93.6 million in its first full year of launch.
- The company expects to achieve profitability (adjusted income from operations) in Q4 2025, backed by robust revenue growth and financial discipline.
2. Pipeline Advancement:
- Promising data for ZL-1310 (DLL3 ADC) in small cell lung cancer (SCLC), with an overall response rate of 74% in the Phase 1 study. The company plans to present updated data and explore other indications in the first half of 2025.
- Regulatory submissions expected in 2025 for potential blockbuster products like bemarituzumab in gastric cancer and KarXT in schizophrenia.
- Positive results from the China subpopulation of the Phase 3 innovaTV 301 study for tisotumab vedotin in recurrent or metastatic cervical cancer.
Zai Lab's strong financial performance, coupled with its promising pipeline progress and upcoming regulatory milestones, likely fueled investor optimism, driving the stock's pre-market surge.
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