China-based biotech Zai Lab Ltd (NASDAQ: ZLAB, HKG: 9688) released its Q2 2022 financial report, recording USD48.2 million in total revenues during the period, up 30.62% year-on-year (YOY). The company’s research and development (R&D) expenditure was USD66.1 million, down 53.52% YOY. Zai generated a USD137.9 million net loss, compared with USD163.3 million in the same period last year, with the improvement reflecting the lack of any new recent in-licensing deal.
Drug Sales Breakdown
During the period, the PARP inhibitor Zejula (niraparib) generated USD34.1 million in sales, up from USD23.4 million in the same period last year. Tumor Treating Fields (TTFields) device Optune Lua took home USD11.6 million, up from USD9.5 million last year, and was involved in 50 urban supplemental health insurance schemes as of June 30, 2022.
Qinlock (ripretinib), a switch-control kinase inhibitor included in 73 urban supplemental health insurance schemes, brought in USD600,000, a significant drop from USD4 million in the same period last year. Zai is aiming to gain coverage for the drug’s fourth-line gastrointestinal stromal tumor indication on the National Reimbursement Drug List (NRDL) this year. Finally, its Nuzyra (omadacycline), a novel antibiotic in-licensed from US firm Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) and approved for marketing at the end of 2021, brought in USD1.3 million in sales during the quarter. The drug is used to treat community-acquired bacterial pneumonia (CABP), as well as acute bacterial skin and skin structure infections (ABSSSI), and is also expected to be included on the NRDL this year.-Fineline Info & Tech
