Zai Lab Limited (ZLAB) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, ladies and gentlemen. Thank you for standing by. Welcome to Xilab's fourth quarter and full year 2025 Financial Results Conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. As a reminder, today's call is being recorded. It is now my pleasure to turn the floor over to Christine Chou, Senior Vice President of Investor Relations. Thank you. Please go ahead. Thank you, operator. Hello and welcome, everyone. Today's earnings call will be led by Dr. Samantha Du, Xilab's founder, CEO, and chairperson. She will be joined by Josh Smiley, President and Chief Operating Officer, Dr. Rafael Amado, President and Head of Global Research and Development, and Dr. Yajing Chen, Chief Financial Officer. Dr. Shan He, our Chief Business Officer, will also be available to answer questions during the Q&A portion of the call. As a reminder, during today's call, we will be making certain forward-looking statements based on our current expectations. These statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from what we expect due to a variety of factors, including those discussed in our SEC filings. We will also refer to adjusted loss from operations, which is a non-GAAP financial measure. Please refer to our earnings release furnished with the SEC on February 26, 2026 for additional information on this non-GAAP financial measure. At this time, it is my pleasure to turn the call over to Dr. Samantha Du. Thanks, Christine. Good morning and good evening, everyone. Thank you for joining us today. Satellab is an important point in our evolution. We're building a company increasingly defined by global innovation restin...