Amado Rafael, president and head of global oncology research and development at Zai Laboratory Ltd (NASDAQ:), a $2.8 billion biopharmaceutical company whose shares have risen more than 50% in the past six months, recently sold 7,583 American Depositary Shares (ADS) at an average price of $26,281 per share. The transaction, which took place on December 31, 2024, was valued at approximately $199,288. This sale was made to cover taxes on the acquisition of Restricted Stock Units (RSUs). Following this transaction, Rafael directly owns 33,834 ADS.
Previously, on December 30, 2024, Rafael acquired 21,000 ADSs following the RSU acquisition, although there was no monetary transaction involved in this particular acquisition. Each ADS represents ten ordinary shares of Zai Lab.
In other recent news, Zai Lab Limited reported significant progress in its financial performance and strategic advancements. The biopharmaceutical company recently revealed a 47% increase in its third-quarter net product revenue to $101.8 million, driven largely by sales of its drug VYVGART. The company anticipates that more than 12,000 patients will begin treatment with VYVGART by the end of the year and is preparing to launch VYVGART Hytrulo for CIDP.
Zai Lab also revealed a 40% net loss reduction year-on-year, with a current cash position of $716 million. Despite the discontinuation of ADC’s collaboration with AbbVie (NYSE:) due to toxicity concerns, Zai Lab maintains a strong market position with promising treatments such as ZL-1503 for atopic dermatitis and ZL-6301 in its portfolio.
In addition to these recent developments, Zai Lab updated its risk factors in a recent filing with the SEC, providing current and potential investors with a revised understanding of the risks associated with its trading operations. These updates reflect changes in the company’s business environment since its last Annual Report. As always, investors are encouraged to review these risk factors in conjunction with the company’s prior disclosures.
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