Zai Lab Limited announced on October 22, 2026, the execution of a Securities Purchase Agreement with certain accredited investors. Under the terms of the agreement, the company will sell 11,340,000 American Depositary Shares (ADSs) to the investors. Each ADS represents ten ordinary shares of the company and is priced at $22.04 per share.
The transaction is structured as a private placement, with the company expected to receive gross proceeds of approximately $250 million. This amount is before the deduction of placement agent fees and other transaction expenses. The company intends to use the net proceeds to fund the development of its pipeline assets, as well as for working capital and other general corporate purposes.
The closing of the transaction, referred to as the PIPE Closing, is scheduled to take place on or about October 27, 2026. The sale of the ADSs is being conducted without registration under the Securities Act of 1933, relying on an exemption under Section 4(a)(2) and Regulation D.
In connection with the private placement, the company also entered into a Registration Rights Agreement. This agreement requires the company to file an initial registration statement with the Securities and Exchange Commission within 15 days of the PIPE Closing. The purpose of this registration is to allow the investors to resell the ADSs sold in the private placement.
The filing also references an updated corporate presentation dated October 23, 2026, which details the company’s clinical data. The presentation highlights the clinical development of Zoci (ZL-1310), a next-generation antibody-drug conjugate (ADC) targeting DLL3. The data presented is from the ESMO 2026 conference and covers the treatment of extensive-stage small cell lung cancer (ES-SCLC). The presentation indicates that a global Phase 3 trial for zoci is currently ongoing.
