Slide 1: Second Quarter 2026 Financial Results and Recent Corporate Updates
Second Quarter 2026 Financial Results and Recent Corporate Updates NASDAQ:ZLAB | HKEX:9688 © 2026. Zai Lab. All Rights Reserved.
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements, including statements relating to our strategy and plans; potential of and expectations for our business, commercial products, and pipeline programs; our goals, objectives, and priorities and our expectations under our
Slide 3: Achievements in 2Q'26 and Upcoming Key Catalysts
Achievements in 2Q’26 and Upcoming Key Catalysts 2Q’26 Global Pipeline Progress – Key Assets 2Q’26 Regional Pipeline Progress Zocilurtatug pelitecan (zoci) ZL-1503 (IL-13/IL-31Rα) KarXT: Commercial launch for schizophrenia • DLLEVATE study in 2L+ SCLC ongoing • Completed enrollment in the SAD • Glob
Slide 4: Zoci is Delivering High, Durable Responses With a Strong Safety Profile
Zocilurtatug pelitecan Zoci is Delivering High, Durable Responses With a Strong Safety Profile Recent Updates Reinforce Differentiated Profile Global Registrational Phase 3 Study Ongoing ✓ Differentiation in Patients with Brain Metastases Phase 3 DLLEVATE Study Enrolling in 2L/3L SCLC At 1.6 mg/kg:
Slide 5: 1L SCLC: Zoci Combo Data Advances Path Toward Phase 3 by YE'26
Zocilurtatug pelitecan 1L SCLC: Zoci Combo Data Advances Path Toward Phase 3 by YE’26 Phase I, open-label, dose-escalation and expansion study of ZL-1310 as Why 1L SCLC Patients Need A New monotherapy and in combination with atezolizumab or atezolizumab and carboplatin Option in ES-SCLC (NCT06179069
Slide 6: Zoci as A Promising Backbone for DLL3 TCE Combinations in SCLC
Global pipeline Zocilurtatug pelitecan Zoci as A Promising Backbone for DLL3 TCE Combinations in SCLC The Biology Argument: Why DLL3 ADC + TCE? Why Zoci is the Right ADC Partner? Safety Comparison (2L+ SCLC, Monotherapy) for Zoci Tumor volume Investigational Drugs Currently in Global Pivotal Stage2
Slide 7: Global Phase 1b/2 Combination Studies with DLL3 TCEs Underway
Global pipeline Zocilurtatug pelitecan Global Phase 1b/2 Combination Studies with DLL3 TCEs Underway ✓ Actively enrolling Amgen A global Phase 1b study to evaluate the safety and efficacy A global Phase 1b/2, open-label, safety and tolerability trial of zoci in combination with IMDELLTRA ® in patien
Slide 8: Expanding Zoci's Reach Beyond SCLC to epNECs
Global pipeline Zocilurtatug pelitecan Expanding Zoci’s Reach Beyond SCLC to epNECs Unmet Medical Needs in epNECs 2026 AACR Update in 2L+ NECs • Meaningful Clinical Responses: 38.2% overall ORR 41-67%; Etoposide + confirmed ORR (13/34) across study cohorts 1L carboplatin/cisplatin mPFS ~6 months; mO
Slide 9: Significant Potential For SCLC and epNECs; 3 Pivotal Trials by YE 2026
Zocilurtatug pelitecan Significant Potential For SCLC and epNECs; 3 Pivotal Trials by YE 2026 Lines of Clinical Study Regimen Phase I Phase II Phase III / Registrational Therapy Sponsor Enrollment completion in 2L/3L SCLC Zoci mono DLLEVATE ongoing 1H’27, followed by interim analysis and AA submissi
Slide 10: Broadening the Pipeline: Three Global Assets in the Clinic by 1H'27
Global pipeline Broadening the Pipeline: Three Global Assets in the Clinic by 1H’27 ZL-6201 (LRRC15 ADC) Key NextKey Steps Next Steps • An appealing ADC target as LRRC15 is overexpressed in certain solid tumors* ➢ Complete dose escalation enrollment • High-affinity, specific binding of the global Ph
Slide 11: ZL-1503: A Potential First-In-Class Long-Acting IL-13 & IL-31Rα Bispecific
ZL-1503 ZL-1503: A Potential First-In-Class Long-Acting IL-13 & IL-31Rα Bispecific with Potential for Robust Skin Clearance, Rapid Itch Relief, and Extended Dosing ZL-1503 Exhibits Sustained, Dose-Dependent Inhibition of IL-31- ZL-1503 (IL-13/IL-31Rα) Mediated Pruritus and IL-13-Triggered pSTAT6 Sig
Slide 12: ZL-1503: First-in-Human Data Readout in 2H'26
ZL-1503 ZL-1503: First-in-Human Data Readout in 2H’26 Total Part A Part B N～100 Single ascending doses (SAD) Multiple ascending doses (MAD) in healthy volunteers in adult participants with moderate to severe AD Dose Primary Endpoints: cohort 4 AEs, clinical laboratory Dose Dose and blood and urine c
Slide 13: A Snapshot of Our Global Pipeline
Global pipeline A Snapshot of Our Global Pipeline Candidate Program IND-Enabling POC (Phase I/II) Phase III Expected Next Updates Selection 2L+ SCLC (Zoci monotherapy) Enrollment completion in 1H’27 followed by interim analysis Combo data update in 2H’26 at ESMO; initiate a registrational 1L SCLC (Z
Slide 14: Key Near-Term Regional Launches to Drive Steady Growth
Regional Assets Key Near-Term Regional Launches to Drive Steady Growth 9 Commercial Products KarXT Strongly Positioned to Leverage the Evolving Potential Near-Term Launches China Market Indications PoC Pivotal Regulatory Next Update Market Opportunity in China2 OMG Positive Phase 3 results Potential
Slide 15: KarXT – Potential to Redefine Schizophrenia Treatment
KarXT KarXT – Potential to Redefine Schizophrenia Treatment Unmet Needs in Schizophrenia Achievements Key 2026 Priorities Care in China Inclusion in China Schizophrenia Guidelines 8Mn Adult patients with schizophrenia1 First inclusion of KarXT in national treatment guidelines globally Efficient appr
Slide 16: Q2 2026 – Financial Performance
Q2 2026 – Financial Performance T O TA L R E V E N U E $M 2Q’26 1Q’26 QoQ TOTAL REVENUE Product revenue, net 105.8 95.6 11% ZEJULA 32.1 30.0 7% VYVGART / 23.9 17.6 36% 2 Q’ 2 6 1 Q’ 2 6 VYVGART Hytrulo NUZYRA 17.1 16.3 5% $106.3M $99.6M QINLOCK 9.5 9.0 7% +7% QoQ OPTUNE 12.2 12.0 1% XACDURO 8.0 8.6
Slide 17: Appendix
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Slide 18: A Dual-Engine Biopharma with a Commercially Profitable China Platform Powering Global Innovation
A Dual-Engine Biopharma with a Commercially Profitable China Platform Powering Global Innovation Accelerating Global Pipeline with Profitable China Platform First U.S. Approval Expected by 2028 Delivering Steady Growth ⚫ Established partner of choice ⚫ Zoci in pivotal study; data supportive of poten
Slide 19: Upcoming Catalysts in 2026 / 2027
2026 / 2027 Catalysts Upcoming Catalysts in 2026 / 2027 Asset Key Catalysts 1H’26 2H’26 2027 Data Global phase 1 data on intracranial activity in 2L+ SCLC Data Global phase 1 data on combo regimens for doublet (+ PDL1) and triplet (+ PDL1 + chemo) Clinical dev Initiation of global registrational Pha