0001628280-23-027773 | 10-Q | XBRL Viewer

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

The following table presents the Company’s other current liabilities ($ in thousands):


	June 30, 2023	December 31, 2022

Payroll	18,976	31,689
Accrued professional service fee	7,922	4,080
Payables for purchase of property and equipment	4,344	5,269
Accrued rebate to distributors	8,514	8,443
Tax payables	15,768	13,283
Others (i)	3,500	4,054
Total	59,024	66,818

(i)Others mainly include accrued travel and business-related expenses.

Revenue

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Product Revenue

The Company’s product revenue is primarily derived from the sales of ZEJULA, Optune, QINLOCK, and NUZYRA in mainland China and Hong Kong. The table below presents the Company’s product revenue ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Product revenue - gross	75,010	54,339	146,222	107,649
Less: Rebates and sales returns	(6,146)	(6,764)	(14,561)	(13,979)
Product revenue - net	68,864	47,575	131,661	93,670

Sales rebates are offered to distributors in mainland China, and the amounts are recorded as a reduction of revenue. Estimated rebates are determined based on contracted rates, sales volumes, and level of distributor inventories.

The following table presents the Company’s net revenue by product ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

ZEJULA	42,957	34,052	85,637	63,649
Optune	13,692	11,592	27,034	24,389
QINLOCK	7,527	623	8,833	3,582
NUZYRA	4,636	1,308	10,105	2,050
VYVGART	52	—	52	—
Product revenue - net	68,864	47,575	131,661	93,670

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Ordinary Shares	Additional paid in capital	Accumulated deficit	Accumulated other comprehensive income (loss)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021		955,363,980
Beginning balance at Dec. 31, 2021	$ 1,379,956	$ 6	$ 2,825,948	$ (1,418,074)	$ (23,645)	$ (4,279)
Beginning balance (in shares) at Dec. 31, 2021						(382,930)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		514,800
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Exercise of share options (in shares)		1,156,660
Exercise of share options	297	$ 0	297
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(15,150)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(68)					$ (68)
Share-based compensation	12,410		12,410
Net loss	(82,394)			(82,394)
Foreign currency translation	(2,193)				(2,193)
Ending balance (in shares) at Mar. 31, 2022		957,035,440
Ending balance at Mar. 31, 2022	1,308,008	$ 6	2,838,655	(1,500,468)	(25,838)	$ (4,347)
Ending balance (in shares) at Mar. 31, 2022						(398,080)
Beginning balance (in shares) at Dec. 31, 2021		955,363,980
Beginning balance at Dec. 31, 2021	1,379,956	$ 6	2,825,948	(1,418,074)	(23,645)	$ (4,279)
Beginning balance (in shares) at Dec. 31, 2021						(382,930)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(220,327)
Foreign currency translation	28,132
Ending balance (in shares) at Jun. 30, 2022		960,520,140
Ending balance at Jun. 30, 2022	1,212,165	$ 6	2,857,202	(1,638,401)	4,487	$ (11,129)
Ending balance (in shares) at Jun. 30, 2022						(2,025,310)
Beginning balance (in shares) at Mar. 31, 2022		957,035,440
Beginning balance at Mar. 31, 2022	1,308,008	$ 6	2,838,655	(1,500,468)	(25,838)	$ (4,347)
Beginning balance (in shares) at Mar. 31, 2022						(398,080)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		683,700
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Exercise of share options (in shares)		2,801,000
Exercise of share options	4,322	$ 0	4,322
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(1,627,230)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(6,782)					$ (6,782)
Share-based compensation	14,225		14,225
Net loss	(137,933)			(137,933)
Foreign currency translation	30,325				30,325
Ending balance (in shares) at Jun. 30, 2022		960,520,140
Ending balance at Jun. 30, 2022	$ 1,212,165	$ 6	2,857,202	(1,638,401)	4,487	$ (11,129)
Ending balance (in shares) at Jun. 30, 2022						(2,025,310)
Beginning balance (in shares) at Dec. 31, 2022	960,219,570	962,455,850
Beginning balance at Dec. 31, 2022	$ 1,045,595	$ 6	2,893,120	(1,861,360)	25,685	$ (11,856)
Beginning balance (in shares) at Dec. 31, 2022	(2,236,280)					(2,236,280)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		732,040
Issuance of ordinary shares upon vesting of restricted shares	$ 0	$ 0	0
Exercise of share options (in shares)		4,009,460
Exercise of share options	1,673	$ 0	1,673
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(1,272,330)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(5,130)					$ (5,130)
Share-based compensation	16,661		16,661
Net loss	(49,144)			(49,144)
Foreign currency translation	(8,413)				(8,413)
Ending balance (in shares) at Mar. 31, 2023		967,197,350
Ending balance at Mar. 31, 2023	$ 1,001,242	$ 6	2,911,454	(1,910,504)	17,272	$ (16,986)
Ending balance (in shares) at Mar. 31, 2023						(3,508,610)
Beginning balance (in shares) at Dec. 31, 2022	960,219,570	962,455,850
Beginning balance at Dec. 31, 2022	$ 1,045,595	$ 6	2,893,120	(1,861,360)	25,685	$ (11,856)
Beginning balance (in shares) at Dec. 31, 2022	(2,236,280)					(2,236,280)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (170,039)
Foreign currency translation	$ 26,495
Ending balance (in shares) at Jun. 30, 2023	968,566,280	973,355,390
Ending balance at Jun. 30, 2023	$ 932,314	$ 6	2,932,053	(2,031,399)	52,180	$ (20,526)
Ending balance (in shares) at Jun. 30, 2023	(4,789,110)					(4,789,110)
Beginning balance (in shares) at Mar. 31, 2023		967,197,350
Beginning balance at Mar. 31, 2023	$ 1,001,242	$ 6	2,911,454	(1,910,504)	17,272	$ (16,986)
Beginning balance (in shares) at Mar. 31, 2023						(3,508,610)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		6,117,040
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Exercise of share options (in shares)		41,000
Exercise of share options	88	$ 0	88
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(1,280,500)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(3,540)					$ (3,540)
Share-based compensation	20,511		20,511
Net loss	(120,895)			(120,895)
Foreign currency translation	$ 34,908				34,908
Ending balance (in shares) at Jun. 30, 2023	968,566,280	973,355,390
Ending balance at Jun. 30, 2023	$ 932,314	$ 6	$ 2,932,053	$ (2,031,399)	$ 52,180	$ (20,526)
Ending balance (in shares) at Jun. 30, 2023	(4,789,110)					(4,789,110)

Revenue - Disaggregation of Net Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Product revenue - net	$ 68,864	$ 47,575	$ 131,661	$ 93,670
ZEJULA
Disaggregation of Revenue [Line Items]
Product revenue - net	42,957	34,052	85,637	63,649
Optune
Disaggregation of Revenue [Line Items]
Product revenue - net	13,692	11,592	27,034	24,389
QINLOCK
Disaggregation of Revenue [Line Items]
Product revenue - net	7,527	623	8,833	3,582
NUZYRA
Disaggregation of Revenue [Line Items]
Product revenue - net	4,636	1,308	10,105	2,050
VYVGART
Disaggregation of Revenue [Line Items]
Product revenue - net	$ 52	$ 0	$ 52	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 41
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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+ Details

Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Summary of Basic and Diluted Net Loss Per Share

The following table presents the computation of the basic and diluted net loss per share ($ in thousands, except share and per share data):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Numerator:
Net loss attributable to ordinary shareholders	(120,895)	(137,933)	(170,039)	(220,327)
Denominator:
Weighted average number of ordinary shares - basic and diluted	964,817,310	957,684,820	963,140,360	956,603,250
Net loss per share - basic and diluted	(0.13)	(0.14)	(0.18)	(0.23)

Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share


	June 30,
	2023	2022
Share options	108,322,600	91,546,280
Non-vested restricted shares	33,462,670	34,356,250

Inventories, Net - Summary of inventories, net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 16,687	$ 12,156
Raw materials	19,320	19,029
Work in progress	346	436
Inventories, net	$ 36,353	$ 31,621

Other Current Liabilities

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

The following table presents the Company’s other current liabilities ($ in thousands):


	June 30, 2023	December 31, 2022

Payroll	18,976	31,689
Accrued professional service fee	7,922	4,080
Payables for purchase of property and equipment	4,344	5,269
Accrued rebate to distributors	8,514	8,443
Tax payables	15,768	13,283
Others (i)	3,500	4,054
Total	59,024	66,818

(i)Others mainly include accrued travel and business-related expenses.

Restricted Net Assets	6 Months Ended
Restricted Net Assets	Jun. 30, 2023
Restricted net assets
Restricted Net Assets	Restricted Net Assets The Company’s ability to pay dividends may depend on the Company receiving distributions of funds from its Chinese subsidiaries. Relevant Chinese laws and regulations permit payments of dividends by the Company’s Chinese subsidiaries only out of its retained earnings, if any, as determined in accordance with Chinese accounting standards and regulations. The results of operations reflected in the unaudited condensed consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s Chinese subsidiaries. In accordance with the Company Law of the People’s Republic of China, a domestic enterprise is required to provide statutory reserves of at least 10% of its annual after-tax profit until such reserve has reached 50% of its respective registered capital based on the enterprise’s Chinese statutory accounts. A domestic enterprise may provide discretionary surplus reserve, at the discretion of the Board of Directors, from the profits determined in accordance with the enterprise’s Chinese statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Company’s Chinese subsidiaries were established as domestic enterprises and therefore are subject to the above-mentioned restrictions on distributable profits. No appropriation to statutory reserves was made during the three and six months ended June 30, 2023 and 2022 because the Chinese subsidiaries had substantial losses during such periods. As a result of these Chinese laws and regulations, subject to the limits discussed above that require annual appropriations of 10% of after-tax profit to be set aside, prior to payment of dividends, as a general reserve fund, the Company’s Chinese subsidiaries are restricted in their ability to transfer out a portion of their net assets. Foreign exchange and other regulation in mainland China may further restrict the Company’s Chinese subsidiaries from transferring out funds in the form of dividends, loans, and advances. As of June 30, 2023 and December 31, 2022, amounts restricted are the paid-in capital of the Company’s Chinese subsidiaries, which both amounted to $456.0 million.

Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

The following table presents the Company’s cash and cash equivalents ($ in thousands):


	June 30, 2023	December 31, 2022

Cash	858,089	1,007,423
Cash equivalents (i)	1,066	1,047
	859,155	1,008,470
Denominated in:
US$	832,974	957,824
RMB (ii)	21,968	45,486
Hong Kong dollar (“HK$”)	3,485	4,378
Australian dollar (“A$”)	578	598
Taiwan dollar (“TW$”)	150	184
	859,155	1,008,470

(i)Cash equivalents represent short-term and highly liquid investments in a money market fund.

(ii)Certain cash and bank balances denominated in RMB were deposited with banks in mainland China. The conversion of these RMB denominated balances into foreign currencies is subject to the rules and regulations of foreign exchange control promulgated by the Chinese government.

Share-Based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 20,511	$ 14,225	$ 37,172	$ 26,635
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	11,776	8,931	21,839	15,923
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 8,735	$ 5,294	$ 15,333	$ 10,712

Loss Per Share - Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted loss per share	108,322,600	91,546,280
Non-vested restricted shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted loss per share	33,462,670	34,356,250

Basis of Presentation and Consolidation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation and Significant Accounting Policies	Basis of Presentation and Consolidation and Significant Accounting Policies (a) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The December 31, 2022 condensed consolidated balance sheet data included in this report were derived from the audited financial statements in the 2022 Annual Report. In the third quarter of 2022, we began to separately present the amount of foreign currency remeasurement gain (loss) on our statements of cash flows. This amount was previously included in changes in other current liabilities. This change did not have any impact on net cash used in operating activities. Corresponding amounts in the prior periods of the condensed consolidated financial statement have been presented to conform to the current period presentation. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the year ending December 31, 2023. (b) Principles of Consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company. All intercompany transactions and balances are eliminated upon consolidation. (c) Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Areas where management uses subjective judgment include, but are not limited to, accrual of rebates, recognition of research and development expenses to the appropriate financial reporting period based on the progress of the research and development projects, fair value of share-based compensation expenses, and recoverability of deferred tax assets. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates. (d) Fair Value Measurements Equity investments with readily determinable fair value are measured using level 1 inputs and were $5.1 million and $6.4 million as of June 30, 2023 and December 31, 2022, respectively. The unrealized gains and losses from fair value changes are recognized in other expenses, net in the consolidated statements of operations. Financial instruments of the Company primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, notes receivable, prepayments and other current assets, accounts payable, and other current liabilities. As of June 30, 2023 and December 31, 2022, the carrying values of cash and cash equivalents, short-term investments, accounts receivable, notes receivable, prepayments and other current assets, accounts payable, and other current liabilities approximated their fair values due to the short-term maturity of these instruments, and the carrying value of restricted cash approximated its fair value based on the nature of the assessment of the ability to recover these amounts. (e) Recent Accounting Pronouncements The Company has not adopted any new accounting standards since December 31, 2022. For a discussion of the Company’s significant accounting policies, see the discussion in Note 2 above and the notes to the consolidated financial statements in the 2022 Annual Report.

Restricted Net Assets (Details) - PRC - USD ($)	3 Months Ended		6 Months Ended
Restricted Net Assets (Details) - PRC - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Restricted net assets
Statutory reserves	$ 0	$ 0	$ 0	$ 0
Restricted amount by subsidiaries	$ 456,000,000.0		$ 456,000,000.0		$ 456,000,000.0

Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

The following table presents the components of the Company’s property and equipment, net ($ in thousands):


	June 30, 2023	December 31, 2022

Office equipment	985	977
Electronic equipment	8,457	7,416
Vehicle	195	202
Laboratory equipment	19,672	18,726
Manufacturing equipment	16,595	17,055
Leasehold improvements	11,036	11,300
Construction in progress	25,092	24,251
	82,032	79,927
Less: accumulated depreciation	(25,622)	(22,064)
Property and equipment, net	56,410	57,863

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net loss	$ (170,039)	$ (220,327)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for credit loss (gain)	3	(3)
Inventory write-down	623	193
Depreciation and amortization expenses	4,652	3,874
Amortization of deferred income	(1,716)	(1,386)
Share-based compensation	37,172	26,634
Share of loss from equity method investment	0	221
Loss from fair value changes of equity investment with readily determinable fair value	1,304	12,556
Loss (gain) on disposal of property and equipment	260	(11)
Gain on disposal of land use right	(404)	0
Noncash lease expenses	4,383	3,825
Gain from sale of intellectual property	(10,000)	0
Foreign currency remeasurement loss	31,167	32,610
Changes in operating assets and liabilities:
Accounts receivable	(8,863)	20,422
Notes receivable	(12,714)	(3,633)
Inventories	(6,627)	(4,582)
Prepayments and other current assets	87	48
Long-term deposits	(184)	(78)
Value added tax recoverable	0	23,602
Accounts payable	3,037	(17,718)
Other current liabilities	(6,761)	(3,100)
Operating lease liabilities	(3,596)	(3,849)
Deferred income	9,902	(1,325)
Other non-current liabilities	325	0
Net cash used in operating activities	(127,989)	(132,027)
Cash flows from investing activities
Purchases of short-term investments	(100,000)	(260,274)
Proceeds from maturity of short-term investment	84,500	130,000
Purchase of property and equipment	(5,234)	(13,488)
Proceeds from the sale of property and equipment	112	0
Purchase of intangible assets	(630)	(107)
Proceeds from sale of intellectual property	10,000	0
Net cash used in investing activities	(11,252)	(143,869)
Cash flows from financing activities
Proceeds from exercises of stock options	1,762	4,619
Taxes paid related to settlement of equity awards	(7,141)	(6,859)
Net cash used in financing activities	(5,379)	(2,240)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(3,707)	(5,144)
Net decrease in cash, cash equivalents and restricted cash	(148,327)	(283,280)
Cash, cash equivalents and restricted cash - beginning of period	1,009,273	964,903
Cash, cash equivalents and restricted cash - end of period	860,946	681,623
Supplemental disclosure on non-cash investing and financing activities
Payables for purchase of property and equipment	4,344	1,661
Payables for intangible assets	96	270
Payables for treasury stock	1,531	17
Receivables for stock option exercise under equity incentive plans	0	12
Right-of-use asset acquired under operating leases	3,313	8,451
Receivables for disposal of land use right	3,867	0
Supplemental disclosure of cash flow information
Cash and cash equivalents	859,155	680,820
Restricted cash, non-current	1,791	803
Total cash and cash equivalents and restricted cash	$ 860,946	$ 681,623

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 0	$ 0	$ 0

Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Other Expenses, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Government grants	$ 83	$ 50	$ 83	$ 1,627
Loss on equity investments with readily determinable fair value	(1,744)	(5,617)	(1,304)	(12,556)
Others miscellaneous gain	256	70	1,050	551
Total	$ (1,405)	$ (5,497)	$ (171)	$ (10,378)

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company incurred research and development expenses for product research and development services provided by MEDx (Suzhou) Translational Medicine Co., Ltd (“MEDx”), over which an immediate family member of our Chief Executive Officer and Chairperson of the Board held significant influence. The Company incurred development expenses with MEDx of insignificant amounts during the three and six months ended June 30, 2023 and $0.2 million and $0.3 million during the three and six months ended June 30, 2022, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Paragraph 1
-Subparagraph (d)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.8	$ 1.7	$ 4.3	$ 3.6

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Purchase Commitments The Company’s commitments related to purchase of property and equipment contracted but not yet reflected in the unaudited condensed consolidated financial statements were $3.9 million as of June 30, 2023 and were expected to be incurred within one year. (b) Legal Proceedings The Company is not currently a party to any material legal proceedings. (c) Indemnifications In the normal course of business, the Company enters into agreements that indemnify others for certain liabilities that may arise in connection with a transaction or certain events and activities. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations.

Inventories, Net

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories, Net

The following table presents the Company’s inventories, net ($ in thousands):


	June 30, 2023	December 31, 2022

Finished goods	16,687	12,156
Raw materials	19,320	19,029
Work in progress	346	436
Inventories, net	36,353	31,621

The Company writes down inventory for any excess or obsolete inventories or when the Company believes that the net realizable value of inventories is less than the carrying value. The Company recorded write-downs in inventory, which were included in cost of sales, of $0.2 million and $0.6 million during the three and six months ended June 30, 2023, respectively, and $0.1 million and $0.2 million during the three and six months ended June 30, 2022 respectively.

Unaudited Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Product revenue, net	$ 68,864,000	$ 47,575,000	$ 131,661,000	$ 93,670,000
Collaboration revenue	0	601,000	0	1,230,000
Total revenues	68,864,000	48,176,000	131,661,000	94,900,000
Expenses:
Cost of sales	(23,763,000)	(17,407,000)	(45,100,000)	(33,051,000)
Research and development	(76,682,000)	(66,084,000)	(125,153,000)	(119,938,000)
Selling, general, and administrative	(67,920,000)	(63,401,000)	(130,430,000)	(120,392,000)
Gain on sale of intellectual property	10,000,000	0	10,000,000	0
Loss from operations	(89,501,000)	(98,716,000)	(159,022,000)	(178,481,000)
Interest income	10,090,000	1,175,000	20,321,000	1,363,000
Foreign currency loss	(40,079,000)	(34,895,000)	(31,167,000)	(32,610,000)
Other expense, net	(1,405,000)	(5,497,000)	(171,000)	(10,378,000)
Loss before income tax and share of loss from equity method investment	(120,895,000)	(137,933,000)	(170,039,000)	(220,106,000)
Income tax expense	0	0	0	0
Share of loss from equity method investment	0	0	0	(221,000)
Net loss	(120,895,000)	(137,933,000)	(170,039,000)	(220,327,000)
Net loss attributable to ordinary shareholders - basic	(120,895,000)	(137,933,000)	(170,039,000)	(220,327,000)
Net loss attributable to ordinary shareholders - diluted	$ (120,895,000)	$ (137,933,000)	$ (170,039,000)	$ (220,327,000)
Loss per share/ADS - basic (in dollars per share)	$ (0.13)	$ (0.14)	$ (0.18)	$ (0.23)
Loss per share/ADS - diluted (in dollars per share)	$ (0.13)	$ (0.14)	$ (0.18)	$ (0.23)
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - basic (in shares)	964,817,310	957,684,820	963,140,360	956,603,250
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - diluted (in shares)	964,817,310	957,684,820	963,140,360	956,603,250
American Depositary Shares
Expenses:
Loss per share/ADS - basic (in dollars per share)	$ (1.25)	$ (1.44)	$ (1.77)	$ (2.30)
Loss per share/ADS - diluted (in dollars per share)	$ (1.25)	$ (1.44)	$ (1.77)	$ (2.30)
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - basic (in shares)	96,481,731	95,768,482	96,314,036	95,660,325
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - diluted (in shares)	96,481,731	95,768,482	96,314,036	95,660,325

Revenue - Summary of Product Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Product revenue - gross	$ 75,010	$ 54,339	$ 146,222	$ 107,649
Less: Rebates and sales returns	(6,146)	(6,764)	(14,561)	(13,979)
Product revenue - net	$ 68,864	$ 47,575	$ 131,661	$ 93,670

- Definition

+ References

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (120,895)	$ (49,144)	$ (137,933)	$ (82,394)	$ (170,039)	$ (220,327)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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+ Details

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Research and development expense	$ 76,682	$ 66,084	$ 125,153	$ 119,938
Limited Liability Company
Related Party Transaction [Line Items]
Research and development expense	$ 0	$ 200	$ 0	$ 300

Inventories, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventory write-down	$ 0.2	$ 0.1	$ 0.6	$ 0.2

Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property Plant And Equipment
Property and equipment, gross	$ 82,032	$ 79,927
Less: accumulated depreciation	(25,622)	(22,064)
Property and equipment, net	56,410	57,863
Office equipment
Property Plant And Equipment
Property and equipment, gross	985	977
Electronic equipment
Property Plant And Equipment
Property and equipment, gross	8,457	7,416
Vehicle
Property Plant And Equipment
Property and equipment, gross	195	202
Laboratory equipment
Property Plant And Equipment
Property and equipment, gross	19,672	18,726
Manufacturing equipment
Property Plant And Equipment
Property and equipment, gross	16,595	17,055
Leasehold improvements
Property Plant And Equipment
Property and equipment, gross	11,036	11,300
Construction in progress
Property Plant And Equipment
Property and equipment, gross	$ 25,092	$ 24,251

Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Product Revenue

The table below presents the Company’s product revenue ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Product revenue - gross	75,010	54,339	146,222	107,649
Less: Rebates and sales returns	(6,146)	(6,764)	(14,561)	(13,979)
Product revenue - net	68,864	47,575	131,661	93,670

Schedule of Disaggregation of Net Revenue

The following table presents the Company’s net revenue by product ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

ZEJULA	42,957	34,052	85,637	63,649
Optune	13,692	11,592	27,034	24,389
QINLOCK	7,527	623	8,833	3,582
NUZYRA	4,636	1,308	10,105	2,050
VYVGART	52	—	52	—
Product revenue - net	68,864	47,575	131,661	93,670

Cash and Cash Equivalents (Tables)

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

The following table presents the Company’s cash and cash equivalents ($ in thousands):


	June 30, 2023	December 31, 2022

Cash	858,089	1,007,423
Cash equivalents (i)	1,066	1,047
	859,155	1,008,470
Denominated in:
US$	832,974	957,824
RMB (ii)	21,968	45,486
Hong Kong dollar (“HK$”)	3,485	4,378
Australian dollar (“A$”)	578	598
Taiwan dollar (“TW$”)	150	184
	859,155	1,008,470

(i)Cash equivalents represent short-term and highly liquid investments in a money market fund.

Other Expenses, Net (Tables)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Schedule of Other Expense, Net

The following table presents the Company’s other expenses, net ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Government grants	83	50	83	1,627
Loss on equity investments with readily determinable fair value	(1,744)	(5,617)	(1,304)	(12,556)
Others miscellaneous gain	256	70	1,050	551
Total	(1,405)	(5,497)	(171)	(10,378)

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 859,155	$ 1,008,470
Short-term investments	15,500	0
Accounts receivable (net of allowance for credit loss of $14 and $11 as of June 30, 2023 and December 31, 2022, respectively)	47,283	39,963
Notes receivable	20,781	8,608
Inventories, net	36,353	31,621
Prepayments and other current assets	38,433	35,674
Total current assets	1,017,505	1,124,336
Restricted cash, non-current	1,791	803
Long term investments	5,128	6,431
Prepayments for equipment	665	1,396
Property and equipment, net	56,410	57,863
Operating lease right-of-use assets	18,537	19,512
Land use rights, net	3,067	6,892
Intangible assets, net	1,690	1,511
Long-term deposits	1,580	1,396
Total assets	1,106,373	1,220,140
Current liabilities:
Accounts payable	67,031	65,974
Current operating lease liabilities	7,299	7,050
Other current liabilities	59,024	66,818
Total current liabilities	133,354	139,842
Deferred income	28,625	21,360
Non-current operating lease liabilities	11,755	13,343
Other non-current liabilities	325	0
Total liabilities	174,059	174,545
Commitments and contingencies (Note 15)
Shareholders’ equity
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 973,355,390 and 962,455,850 shares issued as of June 30, 2023 and December 31, 2022, respectively; 968,566,280 and 960,219,570 shares outstanding as of June 30, 2023 and December 31, 2022, respectively)	6	6
Additional paid-in capital	2,932,053	2,893,120
Accumulated deficit	(2,031,399)	(1,861,360)
Accumulated other comprehensive income	52,180	25,685
Treasury Stock (at cost, 4,789,110 and 2,236,280 shares as of June 30, 2023 and December 31, 2022, respectively)	(20,526)	(11,856)
Total shareholders’ equity	932,314	1,045,595
Total liabilities and shareholders’ equity	$ 1,106,373	$ 1,220,140

Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

The following table presents the components of the Company’s property and equipment, net ($ in thousands):


	June 30, 2023	December 31, 2022

Office equipment	985	977
Electronic equipment	8,457	7,416
Vehicle	195	202
Laboratory equipment	19,672	18,726
Manufacturing equipment	16,595	17,055
Leasehold improvements	11,036	11,300
Construction in progress	25,092	24,251
	82,032	79,927
Less: accumulated depreciation	(25,622)	(22,064)
Property and equipment, net	56,410	57,863

Depreciation expense was $1.8 million and $4.3 million for the three and six months ended June 30, 2023, respectively, and $1.7 million and $3.6 million for the three and six months ended June 30, 2022, respectively.

License and Collaboration Agreements (Details) $ in Millions	3 Months Ended
	Jun. 30, 2023 USD ($)
Entasis
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments accrued	$ 3.0
Maximum additional milestone payments	88.6
Turning Point
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payments accrued	5.0
Maximum additional milestone payments	141.0
MediLink
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront payments made	$ 10.0

License and Collaboration Agreements	6 Months Ended
License and Collaboration Agreements	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License and Collaboration Agreements	License and Collaboration AgreementsThe Company has entered into various license and collaboration agreements with third parties to develop and commercialize product candidates. Significant License and Collaboration Arrangements For a description of the material terms of the Company’s significant license and collaboration agreements, see Note 16 to our 2022 Annual Report. During the six months ended June 30, 2023, the Company did not enter into any new significant license or collaboration agreements. The following includes a description of payments or accruals related to upfront or milestone fees under our significant license and collaboration agreements during the six months ended June 30, 2023. License and Collaboration Agreement with Entasis Therapeutics Holdings Inc.(“Entasis”) (SUL-DUR) Under the terms of our license and collaboration agreement with Entasis for SUL-DUR, the Company accrued a $3.0 million development milestone in the second quarter of 2023, and the additional aggregate amount the Company may be required to pay for development, regulatory, and sales-based milestones decreased to $88.6 million. License Agreement with BMS (Formerly Turning Point Therapeutics Inc (“Turning Point”)) (Repotrectinib) Under the terms of our license agreement with BMS for reprotrectinib, the Company accrued a $5.0 million development milestone in the second quarter of 2023, and the additional aggregate amount the Company may be required to pay for development, regulatory, and sales-based milestones decreased to $141.0 million. Other License and Collaboration Arrangements That Are Not Individually Significant The Company made an upfront payment of $10.0 million in the second quarter of 2023 for a new strategic partnership and global license agreement with MediLink Therapeutics (Suzhou) Co., Ltd. for an early-stage next generation DLL3 ADC program, ZL-1310.

Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss attributable to ordinary shareholders - basic	$ (120,895)	$ (137,933)	$ (170,039)	$ (220,327)
Net loss attributable to ordinary shareholders - diluted	$ (120,895)	$ (137,933)	$ (170,039)	$ (220,327)
Denominator:
Weighted average number of ordinary shares - basic (in shares)	964,817,310	957,684,820	963,140,360	956,603,250
Weighted average number of ordinary shares - diluted (in shares)	964,817,310	957,684,820	963,140,360	956,603,250
Net loss per share - basic (in dollars per share)	$ (0.13)	$ (0.14)	$ (0.18)	$ (0.23)
Net loss per share - diluted (in dollars per share)	$ (0.13)	$ (0.14)	$ (0.18)	$ (0.23)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Inventories, Net (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories, Net

The following table presents the Company’s inventories, net ($ in thousands):


	June 30, 2023	December 31, 2022

Finished goods	16,687	12,156
Raw materials	19,320	19,029
Work in progress	346	436
Inventories, net	36,353	31,621

Income Tax (Details) - USD ($)	3 Months Ended		6 Months Ended
Income Tax (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 0	$ 0	$ 0	$ 0
Unrecognized tax benefits	0		0		$ 0
Unrecognized tax benefits, interest and penalties	$ 0	$ 0	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Tax	6 Months Ended
Income Tax	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax	Income Tax No provision for income taxes has been required to be accrued because the Company and all of its subsidiaries are in cumulative loss positions for the periods presented. The Company recorded a full valuation allowance against deferred tax assets of all its consolidated entities because all entities were in a cumulative loss position as of June 30, 2023 and December 31, 2022. No unrecognized tax benefits and related interest and penalties were recorded in the periods presented.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Payroll	$ 18,976	$ 31,689
Accrued professional service fee	7,922	4,080
Payables for purchase of property and equipment	4,344	5,269
Accrued rebate to distributors	8,514	8,443
Tax payables	15,768	13,283
Other	3,500	4,054
Total	$ 59,024	$ 66,818

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Cash And Cash Equivalents [Line Items]
Cash	$ 858,089	$ 1,007,423
Cash equivalents	1,066	1,047
Cash and cash equivalents	859,155	1,008,470	$ 680,820
US$
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	832,974	957,824
RMB
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	21,968	45,486
Hong Kong dollar (“HK$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	3,485	4,378
Australian dollar (“A$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	578	598
Taiwan dollar (“TW$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 150	$ 184

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Organization and Principal Activities	6 Months Ended
Organization and Principal Activities	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Principal Activities	Organization and Principal Activities Zai Lab Limited was incorporated on March 28, 2013 in the Cayman Islands as an exempted company with limited liability under the Companies Act of the Cayman Islands (as amended). Zai Lab Limited and its subsidiaries (collectively referred to as the “Company”) are focused on discovering, developing, and commercializing innovative products that address medical conditions with significant unmet needs, including in the areas of oncology, autoimmune disorders, infectious diseases, and neuroscience. The Company’s principal operations and geographic markets are in Greater China. The Company has a substantial presence in Greater China and the United States. The accompanying unaudited condensed consolidated financial statements are the financial statements of the Company.

Other Expenses, Net

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Other Expenses, Net

The following table presents the Company’s other expenses, net ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Government grants	83	50	83	1,627
Loss on equity investments with readily determinable fair value	(1,744)	(5,617)	(1,304)	(12,556)
Others miscellaneous gain	256	70	1,050	551
Total	(1,405)	(5,497)	(171)	(10,378)

Basis of Presentation and Consolidation and Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments with readily determinable fair value	$ 5.1	$ 6.4

Share-Based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

During the six months ended June 30, 2023, the Company granted share options to purchase up to 22,776,380 ordinary shares and restricted shares representing 8,326,080 ordinary shares under the 2022 Plan. The share options granted have a contractual term of ten years. Share options granted since April 2023 generally vest ratably over a four-year period, and share options granted prior to April 2023 generally vest ratably over a five-year period, with 25% or 20% of the awards vesting on each anniversary of the grant date, respectively, subject to continued employment with the Company on the vesting date. For a description of the Company’s equity incentive plans and more details on the terms of the share-based awards, see Note 15 to our 2022 Annual Report.

During the six months ended June 30, 2023, the share options were granted at exercise prices ranging from $3.35 per share to $3.99 per share. The share options granted were valued using the Black-Scholes model, and the weighted-average grant-date fair value was $2.23 per share. The restricted shares granted generally vest ratably over a specified period on the anniversary of the grant date, subject to continued employment/service with the Company on the vesting date.

The following table presents the share-based compensation expense that has been reported in the Company’s condensed consolidated statements of operations and comprehensive loss as follows ($ in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Selling, general and administrative	11,776	8,931	21,839	15,923
Research and development	8,735	5,294	15,333	10,712
Total	20,511	14,225	37,172	26,635

As of June 30, 2023, there was unrecognized share-based compensation expense related to unvested share options and unvested restricted shares of $129.2 million and $130.9 million, respectively, which the Company expects to recognize over a weighted-average period of 3.45 years and 3.21 years, respectively.

Basis of Presentation and Consolidation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). The December 31, 2022 condensed consolidated balance sheet data included in this report were derived from the audited financial statements in the 2022 Annual Report. In the third quarter of 2022, we began to separately present the amount of foreign currency remeasurement gain (loss) on our statements of cash flows. This amount was previously included in changes in other current liabilities. This change did not have any impact on net cash used in operating activities. Corresponding amounts in the prior periods of the condensed consolidated financial statement have been presented to conform to the current period presentation. The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the year ending December 31, 2023.
Principles of Consolidation	The unaudited condensed consolidated financial statements include the financial statements of the Company. All intercompany transactions and balances are eliminated upon consolidation.
Use of Estimates	The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Areas where management uses subjective judgment include, but are not limited to, accrual of rebates, recognition of research and development expenses to the appropriate financial reporting period based on the progress of the research and development projects, fair value of share-based compensation expenses, and recoverability of deferred tax assets. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates.
Fair Value Measurements	Financial instruments of the Company primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, notes receivable, prepayments and other current assets, accounts payable, and other current liabilities. As of June 30, 2023 and December 31, 2022, the carrying values of cash and cash equivalents, short-term investments, accounts receivable, notes receivable, prepayments and other current assets, accounts payable, and other current liabilities approximated their fair values due to the short-term maturity of these instruments, and the carrying value of restricted cash approximated its fair value based on the nature of the assessment of the ability to recover these amounts.
Recent Accounting Pronouncements	The Company has not adopted any new accounting standards since December 31, 2022. For a discussion of the Company’s significant accounting policies, see the discussion in Note 2 above and the notes to the consolidated financial statements in the 2022 Annual Report.

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (120,895)	$ (137,933)	$ (170,039)	$ (220,327)
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustments	34,908	30,325	26,495	28,132
Comprehensive loss	$ (85,987)	$ (107,608)	$ (143,544)	$ (192,195)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Aug. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38205
Entity Registrant Name	ZAI LAB LIMITED
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1144595
Entity Address, Address Line One	4560 Jinke Road
Entity Address, Address Line Two	Bldg. 1, Fourth Floor, Pudong
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	201210
City Area Code	86 21
Local Phone Number	6163 2588
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Central Index Key	0001704292
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
American Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing 10 Ordinary Shares, par value $0.000006 per share
Trading Symbol	ZLAB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		749,901,320
Ordinary Shares
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares, par value $0.000006 per share
Trading Symbol	9688
Entity Common Stock, Shares Outstanding		983,887,430

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 14	$ 11
Ordinary shares, par value (in dollars per share)	$ 0.000006	$ 0.000006
Ordinary shares, shares authorized (in shares)	5,000,000,000	5,000,000,000
Ordinary shares, shares issued (in shares)	973,355,390	962,455,850
Ordinary shares, shares outstanding (in shares)	968,566,280	960,219,570
Treasury Stock (in shares)	4,789,110	2,236,280

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation expense


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Selling, general and administrative	11,776	8,931	21,839	15,923
Research and development	8,735	5,294	15,333	10,712
Total	20,511	14,225	37,172	26,635

Share-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Share options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Contractual term	10 years
Unrecognized share-based compensation expense related to unvested share options granted \| $	$ 129.2
Recognized over a weighted-average period	3 years 5 months 12 days
Share options \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Share options \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	5 years
Share options \| Tranche one \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25.00%
Share options \| Tranche one \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20.00%
Share options \| Tranche two \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25.00%
Share options \| Tranche two \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20.00%
Share options \| Tranche three \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25.00%
Share options \| Tranche three \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20.00%
Share options \| Tranche four \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25.00%
Share options \| Tranche four \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20.00%
Share options \| Tranche five \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20.00%
Non-vested restricted shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense related to unvested restricted shares \| $	$ 130.9
Recognized over a weighted-average period	3 years 2 months 15 days
2022 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted (in shares) \| shares	22,776,380
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 2.23
2022 Plan \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of options granted (in dollars per share)	3.35
2022 Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of options granted (in dollars per share)	$ 3.99
2022 Plan \| Non-vested restricted shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-option awards granted (in shares) \| shares	8,326,080

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2023 USD ($)
Property and Equipment
Loss Contingencies [Line Items]
Purchase obligation to be incurred within on year	$ 3.9

Loss Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Loss Per Share

The following table presents the computation of the basic and diluted net loss per share ($ in thousands, except share and per share data):


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Numerator:
Net loss attributable to ordinary shareholders	(120,895)	(137,933)	(170,039)	(220,327)
Denominator:
Weighted average number of ordinary shares - basic and diluted	964,817,310	957,684,820	963,140,360	956,603,250
Net loss per share - basic and diluted	(0.13)	(0.14)	(0.18)	(0.23)

As a result of the Company’s net loss for the three and six months ended June 30, 2023 and 2022, share options and non-vested restricted shares outstanding in the respective periods were excluded from the calculation of diluted loss per share as their inclusion would have been anti-dilutive.


	June 30,
	2023	2022
Share options	108,322,600	91,546,280
Non-vested restricted shares	33,462,670	34,356,250