ZLAB Stock — Zai Lab Limited: Cash, EV, Pipeline

Share price

$25.70

Market cap

$2,885.2M

Cash

$617.5M

Enterprise value

$2,505.8M

Balance sheet

Cash	$617.5M
Debt	$238.1M
Net cash	$379.4M
Enterprise value	$2,505.8M
Basic shares	1,122.4M shares
Fully diluted shares	1,122.4M shares
Fully diluted market cap	$28,845.7M
Cash per share	$0.55

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

Loading ZLAB daily closes…

Loading price history…

Pipeline assets

zoci

Phase 1 · Active Modality: DLL3/CD3 bispecific T-cell engager

Target DLL3

Partnerships Amgen (global clinical trial collaboration combining zoci with tarlatamab in SCLC; Phase 1b DeLLphi-313 enrollment initiated April 2026); Boehringer Ingelheim (clinical collaboration combining zoci with obrixtamig in SCLC and other neuroendocrine carcinomas)

Indications

extensive-stage small cell lung cancer (Stage not disclosed)
small cell lung cancer (Stage not disclosed)
extrapulmonary neuroendocrine carcinomas (Stage not disclosed)

Status note Engaging health authorities on a registrational plan for extrapulmonary NECs.

TIVDAK

Approved · Active Modality: antibody-drug conjugate

Aliases tisotumab vedotin

Target tissue factor

Indications

recurrent or metastatic cervical cancer with disease progression on or after chemotherapy (China) (Stage not disclosed)

Status note China NMPA approved the BLA in June 2026; the first ADC approved in China for this indication.

ZL-1503

Phase 1 · Active Modality: bispecific antibody

Target IL-13/IL-31R alpha

Indications

moderate-to-severe atopic dermatitis (Stage not disclosed)
other IL-13 and IL-31-driven diseases (Stage not disclosed)

Catalysts

— None

Status note Internally developed long-acting IL-13/IL-31R-alpha bispecific antibody; global Phase 1/1b study ongoing.

elegrobart

Phase 3 · Active Modality: subcutaneous antibody

Target IGF-1R

Partnerships Zenas BioPharma (exclusive license to develop and commercialize elegrobart in Greater China)

Indications

chronic thyroid eye disease (Stage not disclosed)

Status note Partner Viridian Therapeutics reported positive topline data from the pivotal Phase 3 REVEAL-2 trial in chronic TED in May 2026; company is conducting a Phase 3 bridging study in Greater China.

povetacicept

Phase 3 · Active

Aliases Pove, Anti-APRIL/BAFF

Target APRIL/BAFF

Partnerships Vertex (partner; FDA accepted its BLA submission for accelerated approval)

Indications

IgA nephropathy (Stage not disclosed)

Catalysts

— None

Status note Vertex's BLA submission for accelerated approval accepted by FDA; company participated in the global Phase 3 RAINIER study in Greater China.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	6,574,032	no change	1.07%	2026-08-14
ADAR1 Capital Management	3,369,034	+1,943,667	3.01%	2026-08-14
Frazier Life Sciences	1,902,320	no change	0.79%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

ZLAB — Zai Lab Limited

Balance sheet

Price history

Pipeline assets

Institutional holders