Zai Lab Limited
ZLABHealthcareNASDAQBiotechnology
Scan Results
Daily timeframeZai Lab Limited, a biopharmaceutical company, focuses on discovering, developing, and commercializing products that address medical conditions in the areas of oncology, immunology, neuroscience, and. At a $1.93B market cap, Zai Lab Limited ranks as a small-cap company within healthcare. Its commercial products include Zejula, an orally administered poly (ADP-ribose) polymerase 1/2 inhibitor for treating ovarian cancer; VYVGART, a human IgG1 antibody fragment for generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy; NUZYRA for community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections; Optune for glioblastoma multiforme; Qinlock for gastrointestinal stromal tumors; Xacduro for treating hospital-acquired and ventilator-associated bacterial pneumonia caused by a cinetobacter baumannii-calcoaceticus complex; and Augtyro for the treatment of ROS proto-oncogene 1 and non-small cell lung cancer.
Market Cap
$1.93B
Beta
0.84
P/E (TTM)
—
P/E (Fwd)
-9.82
EPS (TTM)
$-1.70
EPS (Fwd)
$-1.75
ROE
-24.2%
ROA
-13.4%
Cash
$661.3M
Total Debt
$231.9M
Free CF
-$73.4M
52W Change
-52.5%
Annual Financials
Cash vs Debt
The balance sheet looks solid with $661.3M in cash comfortably exceeding the $231.9M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. Free cash flow is running at -$73.4M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at -24.2%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has grown from $215.0M (2022) to $460.2M (2025), reflecting a 114% increase over the period.
The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Zai Lab Limited and its sector.