Zai Lab Limited (ZLAB) 10-Q7 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Nov. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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	Q3
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		754,401,320
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		988,387,430

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 788,806	$ 1,008,470
Short-term investments	31,600	0
Accounts receivable (net of allowance for credit loss of $12 and $11 as of September 30, 2023 and December 31, 2022, respectively)	41,596	39,963
Notes receivable	23,679	8,608
Inventories, net	44,229	31,621
Prepayments and other current assets	29,821	35,674
Total current assets	959,731	1,124,336
Restricted cash, non-current	1,792	803
Long term investments	4,466	6,431
Prepayments for equipment	144	1,396
Property and equipment, net	55,282	57,863
Operating lease right-of-use assets	16,398	19,512
Land use rights, net	3,057	6,892
Intangible assets, net	1,568	1,511
Long-term deposits	1,256	1,396
Total assets	1,043,694	1,220,140
Current liabilities:
Accounts payable	55,020	65,974
Current operating lease liabilities	6,886	7,050
Other current liabilities	62,990	66,818
Total current liabilities	124,896	139,842
Deferred income	27,686	21,360
Non-current operating lease liabilities	9,808	13,343
Other non-current liabilities	325	0
Total liabilities	162,715	174,545
Commitments and contingencies (Note 15)
Shareholders’ equity
Ordinary shares (par value of $0.000006 per share; 5,000,000,000 shares authorized; 973,930,280 and 962,455,850 shares issued as of September 30, 2023 and December 31, 2022, respectively; 969,037,150 and 960,219,570 shares outstanding as of September 30, 2023 and December 31, 2022, respectively)	6	6
Additional paid-in capital	2,954,362	2,893,120
Accumulated deficit	(2,100,551)	(1,861,360)
Accumulated other comprehensive income	47,952	25,685
Treasury Stock (at cost, 4,893,130 and 2,236,280 shares as of September 30, 2023 and December 31, 2022, respectively)	(20,790)	(11,856)
Total shareholders’ equity	880,979	1,045,595
Total liabilities and shareholders’ equity	$ 1,043,694	$ 1,220,140

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 12	$ 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)	973,930,280	962,455,850
Ordinary shares, shares outstanding (in shares)	969,037,150	960,219,570
Treasury Stock (in shares)	4,893,130	2,236,280

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Product revenue, net	$ 69,228,000	$ 56,963,000	$ 200,889,000	$ 150,633,000
Collaboration revenue	0	577,000	0	1,806,000
Total revenues	69,228,000	57,540,000	200,889,000	152,439,000
Expenses:
Cost of sales	(25,479,000)	(20,044,000)	(70,579,000)	(53,094,000)
Research and development	(58,767,000)	(99,524,000)	(183,920,000)	(219,462,000)
Selling, general, and administrative	(68,552,000)	(66,555,000)	(198,982,000)	(186,947,000)
Gain on sale of intellectual property	0	0	10,000,000	0
Loss from operations	(83,570,000)	(128,583,000)	(242,592,000)	(307,064,000)
Interest income	9,172,000	3,872,000	29,493,000	5,235,000
Foreign currency gain (loss)	4,852,000	(40,442,000)	(26,315,000)	(73,052,000)
Other income (expense), net	394,000	3,963,000	223,000	(6,415,000)
Loss before income tax and share of loss from equity method investment	(69,152,000)	(161,190,000)	(239,191,000)	(381,296,000)
Income tax expense	0	0	0	0
Share of loss from equity method investment	0	0	0	(221,000)
Net loss	(69,152,000)	(161,190,000)	(239,191,000)	(381,517,000)
Net loss attributable to ordinary shareholders - basic	(69,152,000)	(161,190,000)	(239,191,000)	(381,517,000)
Net loss attributable to ordinary shareholders - diluted	$ (69,152,000)	$ (161,190,000)	$ (239,191,000)	$ (381,517,000)
Loss per share/ADS - basic (in dollars per share)	$ (0.07)	$ (0.17)	$ (0.25)	$ (0.40)
Loss per share/ADS - diluted (in dollars per share)	$ (0.07)	$ (0.17)	$ (0.25)	$ (0.40)
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - basic (in shares)	968,767,730	959,085,960	965,060,570	957,439,910
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - diluted (in shares)	968,767,730	959,085,960	965,060,570	957,439,910
American Depositary Shares
Expenses:
Loss per share/ADS - basic (in dollars per share)	$ (0.71)	$ (1.68)	$ (2.48)	$ (3.98)
Loss per share/ADS - diluted (in dollars per share)	$ (0.71)	$ (1.68)	$ (2.48)	$ (3.98)
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - basic (in shares)	96,876,773	95,908,596	96,506,057	95,743,991
Weighted-average shares/ADSs used in calculating net loss per ordinary share/ADS - diluted (in shares)	96,876,773	95,908,596	96,506,057	95,743,991

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (69,152)	$ (161,190)	$ (239,191)	$ (381,517)
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustments	(4,228)	35,062	22,267	63,194
Comprehensive loss	$ (73,380)	$ (126,128)	$ (216,924)	$ (318,323)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 0	$ 0	$ 0

Unaudited Condensed Consolida_6

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	(381,517)
Foreign currency translation	63,194
Ending balance (in shares) at Sep. 30, 2022		961,829,720
Ending balance at Sep. 30, 2022	1,105,869	$ 6	2,877,361	(1,799,591)	39,549	$ (11,456)
Ending balance (in shares) at Sep. 30, 2022						(2,104,780)
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		230,250
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Exercise of share options (in shares)		1,079,330
Exercise of share options	1,052	$ 0	1,052
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(79,470)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(327)					$ (327)
Share-based compensation	19,107		19,107
Net loss	(161,190)			(161,190)
Foreign currency translation	35,062				35,062
Ending balance (in shares) at Sep. 30, 2022		961,829,720
Ending balance at Sep. 30, 2022	$ 1,105,869	$ 6	2,877,361	(1,799,591)	39,549	$ (11,456)
Ending balance (in shares) at Sep. 30, 2022						(2,104,780)
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	$ (239,191)
Foreign currency translation	$ 22,267
Ending balance (in shares) at Sep. 30, 2023	969,037,150	973,930,280
Ending balance at Sep. 30, 2023	$ 880,979	$ 6	2,954,362	(2,100,551)	47,952	$ (20,790)
Ending balance (in shares) at Sep. 30, 2023	(4,893,130)					(4,893,130)
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		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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares upon vesting of restricted shares (in shares)		394,890
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Exercise of share options (in shares)		180,000
Exercise of share options	317	$ 0	317
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation (in shares)						(104,020)
Receipt of shares netted to satisfy tax withholding obligations related to share-based compensation	(264)					$ (264)
Share-based compensation	21,992		21,992
Net loss	(69,152)			(69,152)
Foreign currency translation	$ (4,228)				(4,228)
Ending balance (in shares) at Sep. 30, 2023	969,037,150	973,930,280
Ending balance at Sep. 30, 2023	$ 880,979	$ 6	$ 2,954,362	$ (2,100,551)	$ 47,952	$ (20,790)
Ending balance (in shares) at Sep. 30, 2023	(4,893,130)					(4,893,130)

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net loss	$ (239,191)	$ (381,517)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for credit loss (gain)	1	(3)
Inventory write-down	746	480
Depreciation and amortization expenses	6,570	6,100
Amortization of deferred income	(2,547)	(2,041)
Share-based compensation	59,164	45,742
Share of loss from equity method investment	0	221
Loss from fair value changes of equity investment with readily determinable fair value	1,965	12,067
Loss (gain) on disposal of property and equipment	139	(11)
Gain on disposal of land use right	(408)	0
Noncash lease expenses	6,630	5,820
Gain from sale of intellectual property	(10,000)	0
Foreign currency remeasurement loss	26,315	73,052
Changes in operating assets and liabilities:
Accounts receivable	(2,823)	16,483
Notes receivable	(15,563)	(3,861)
Inventories	(14,408)	(13,235)
Prepayments and other current assets	5,126	(5,860)
Long-term deposits	140	(459)
Value added tax recoverable	0	21,432
Accounts payable	(9,494)	(28,850)
Other current liabilities	227	1,628
Operating lease liabilities	(5,794)	(6,008)
Deferred income	9,619	470
Other non-current liabilities	325	0
Net cash used in operating activities	(183,261)	(258,350)
Cash flows from investing activities
Purchases of short-term investments	(134,000)	(260,274)
Proceeds from maturity of short-term investment	102,400	705,274
Purchase of property and equipment	(6,990)	(20,172)
Proceeds from the sale of property and equipment	122	0
Purchase of intangible assets	(658)	(439)
Proceeds from sale of intellectual property	10,000	0
Proceeds from disposal of land use right	3,893	0
Net cash (used in) provided by investing activities	(25,233)	424,389
Cash flows from financing activities
Proceeds from exercises of stock options	1,899	5,640
Taxes paid related to settlement of equity awards	(8,725)	(7,171)
Net cash used in financing activities	(6,826)	(1,531)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(3,355)	(9,132)
Net (decrease) increase in cash, cash equivalents and restricted cash	(218,675)	155,376
Cash, cash equivalents and restricted cash - beginning of period	1,009,273	964,903
Cash, cash equivalents and restricted cash - end of period	790,598	1,120,279
Supplemental disclosure on non-cash investing and financing activities
Payables for purchase of property and equipment	2,625	3,234
Payables for intangible assets	98	32
Payables for treasury stock	31	32
Receivables for stock option exercise under equity incentive plans	0	31
Right-of-use asset acquired under operating leases	3,296	12,861
Supplemental disclosure of cash flow information
Cash and cash equivalents	788,806	1,119,476
Restricted cash, non-current	1,792	803
Total cash and cash equivalents and restricted cash	$ 790,598	$ 1,120,279

Organization and Principal Acti

Organization and Principal Activities	9 Months Ended
Organization and Principal Activities	Sep. 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 products that address medical conditions with significant unmet needs, including in the areas of oncology, autoimmune disorders, infectious disease, 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.

Basis of Presentation and Conso

Basis of Presentation and Consolidation and Significant Accounting Policies	9 Months Ended
	Sep. 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, the Company 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 $4.5 million and $6.4 million as of September 30, 2023 and December 31, 2022, respectively. The unrealized gains and losses from fair value changes are recognized in other income (expenses), net in the condensed 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 September 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

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
Cash and Cash Equivalents	Sep. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents The following table presents the Company’s cash and cash equivalents ($ in thousands): September 30, 2023 December 31, 2022 Cash 787,725 1,007,423 Cash equivalents (i) 1,081 1,047 788,806 1,008,470 Denominated in: US$ 764,765 957,824 RMB (ii) 21,056 45,486 Hong Kong dollar (“HK$”) 2,352 4,378 Australian dollar (“A$”) 553 598 Taiwan dollar (“TW$”) 80 184 788,806 1,008,470 (i) Cash equivalents represent short-term and highly liquid investments in a money market fund.

Inventories, Net

Inventories, Net	9 Months Ended
Inventories, Net	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net The following table presents the Company’s inventories, net ($ in thousands): September 30, 2023 December 31, 2022 Finished goods 21,417 12,156 Raw materials 22,812 19,029 Work in progress — 436 Inventories, net 44,229 31,621

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
Property and Equipment, Net	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net The following table presents the components of the Company’s property and equipment, net ($ in thousands): September 30, 2023 December 31, 2022 Office equipment 1,024 977 Electronic equipment 8,757 7,416 Vehicle 196 202 Laboratory equipment 19,858 18,726 Manufacturing equipment 16,865 17,055 Leasehold improvements 11,153 11,300 Construction in progress 25,019 24,251 82,872 79,927 Less: accumulated depreciation (27,590) (22,064) Property and equipment, net 55,282 57,863 Depreciation expense was $1.8 million and $6.1 million for the three and nine months ended September 30, 2023, respectively, and $2.1 million and $5.7 million for the three and nine months ended September 30, 2022, respectively.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Product Revenue The Company’s product revenue is primarily derived from the sales of ZEJULA, Optune, QINLOCK, NUZYRA, and VYVGART in mainland China and Hong Kong. The table below presents the Company’s product revenue ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Product revenue - gross 74,018 60,446 220,240 168,095 Less: Rebates and sales returns (4,790) (3,483) (19,351) (17,462) Product revenue - net 69,228 56,963 200,889 150,633 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 ZEJULA 41,593 39,214 127,230 102,863 Optune 11,562 10,662 38,596 35,051 QINLOCK 5,702 5,541 14,535 9,123 NUZYRA 5,483 1,546 15,588 3,596 VYVGART 4,888 — 4,940 — Product revenue - net 69,228 56,963 200,889 150,633

Income Tax

Income Tax	9 Months Ended
Income Tax	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax	Income Tax No provision for income taxes has been required to be accrued because the Company is in a cumulative loss position 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 September 30, 2023 and December 31, 2022. No unrecognized tax benefits and related interest and penalties were recorded in the periods presented.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
Other Current Liabilities	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The following table presents the Company’s other current liabilities ($ in thousands): September 30, 2023 December 31, 2022 Payroll 26,046 31,689 Accrued professional service fee 9,578 4,080 Payables for purchase of property and equipment 2,625 5,269 Accrued rebate to distributors 8,121 8,443 Tax payables 13,792 13,283 Others (i) 2,828 4,054 Total 62,990 66,818 (i) Others mainly include accrued travel and business-related expenses.

Loss Per Share

Loss Per Share	9 Months Ended
Loss Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Loss Per Share	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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss attributable to ordinary shareholders (69,152) (161,190) (239,191) (381,517) Denominator: Weighted average number of ordinary shares - basic and diluted 968,767,730 959,085,960 965,060,570 957,439,910 Net loss per share - basic and diluted (0.07) (0.17) (0.25) (0.40) As a result of the Company’s net loss for the three and nine months ended September 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. September 30, 2023 2022 Share options 107,249,960 90,511,530 Non-vested restricted shares 32,359,260 34,103,830

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 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 nil and an insignificant amount during the three and nine months ended September 30, 2023 and an insignificant amount and $0.3 million during the three and nine months ended September 30, 2022, respectively.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
Share-Based Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation During the nine months ended September 30, 2023, the Company granted share options to purchase up to 23,768,090 ordinary shares and restricted shares representing 8,836,580 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. 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. 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. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Selling, general and administrative 14,041 11,298 35,880 27,221 Research and development 7,951 7,809 23,284 18,521 Total 21,992 19,107 59,164 45,742

License and Collaboration Agree

License and Collaboration Agreements	9 Months Ended
License and Collaboration Agreements	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License and Collaboration Agreements	License and Collaboration Agreements The 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 nine months ended September 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 nine months ended September 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 paid a $3.0 million development milestone in the third quarter of 2023, which was accrued in the second quarter of 2023. As of September 30, 2023, the Company may be required to pay an additional aggregate amount of up to $88.6 million in development, regulatory, and sales-based milestones. 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 paid a $5.0 million development milestone in the third quarter of 2023, which was accrued in the second quarter of 2023. As of September 30, 2023, the Company may be required to pay an additional aggregate amount of up to $141.0 million in development, regulatory, and sales-based milestones. 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.

Other Income (Expenses), Net

Other Income (Expenses), Net	9 Months Ended
Other Income (Expenses), Net	Sep. 30, 2023
Other Income and Expenses [Abstract]
Other Income (Expenses), Net	Other Income (Expenses), Net The following table presents the Company’s other income (expenses), net ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Government grants 671 3,422 754 5,048 Loss on equity investments with readily determinable fair value (661) 489 (1,965) (12,067) Others miscellaneous gain 384 52 1,434 604 Total 394 3,963 223 (6,415)

Restricted Net Assets

Restricted Net Assets	9 Months Ended
Restricted Net Assets	Sep. 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 nine months ended September 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 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 $2.5 million as of September 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

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (69,152)	$ (120,895)	$ (49,144)	$ (161,190)	$ (137,933)	$ (82,394)	$ (239,191)	$ (381,517)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Joshua Smiley [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 12, 2023, Joshua Smiley, the Company’s President and Chief Operating Officer, adopted a new written Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K), for the purchase of up to 15,000 of the Company’s ADSs, each representing ten of the Company’s ordinary shares. This Rule 10b5-1 trading arrangement is scheduled to terminate no later than May 13, 2024.
Name	Joshua Smiley
Title	President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 12, 2023
Termination Date	May 13, 2024
Arrangement Duration	275 days
Aggregate Available	15,000	15,000

Basis of Presentation and Con_2

Basis of Presentation and Consolidation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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, the Company 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	The unrealized gains and losses from fair value changes are recognized in other income (expenses), net in the condensed 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 September 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.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
Cash and Cash Equivalents (Tables)	Sep. 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): September 30, 2023 December 31, 2022 Cash 787,725 1,007,423 Cash equivalents (i) 1,081 1,047 788,806 1,008,470 Denominated in: US$ 764,765 957,824 RMB (ii) 21,056 45,486 Hong Kong dollar (“HK$”) 2,352 4,378 Australian dollar (“A$”) 553 598 Taiwan dollar (“TW$”) 80 184 788,806 1,008,470 (i) Cash equivalents represent short-term and highly liquid investments in a money market fund.

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
Inventories, Net (Tables)	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The following table presents the Company’s inventories, net ($ in thousands): September 30, 2023 December 31, 2022 Finished goods 21,417 12,156 Raw materials 22,812 19,029 Work in progress — 436 Inventories, net 44,229 31,621

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
Property and Equipment, Net (Tables)	Sep. 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): September 30, 2023 December 31, 2022 Office equipment 1,024 977 Electronic equipment 8,757 7,416 Vehicle 196 202 Laboratory equipment 19,858 18,726 Manufacturing equipment 16,865 17,055 Leasehold improvements 11,153 11,300 Construction in progress 25,019 24,251 82,872 79,927 Less: accumulated depreciation (27,590) (22,064) Property and equipment, net 55,282 57,863

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Product revenue - gross 74,018 60,446 220,240 168,095 Less: Rebates and sales returns (4,790) (3,483) (19,351) (17,462) Product revenue - net 69,228 56,963 200,889 150,633
Schedule of Disaggregation of Net Revenue	The following table presents the Company’s net revenue by product ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 ZEJULA 41,593 39,214 127,230 102,863 Optune 11,562 10,662 38,596 35,051 QINLOCK 5,702 5,541 14,535 9,123 NUZYRA 5,483 1,546 15,588 3,596 VYVGART 4,888 — 4,940 — Product revenue - net 69,228 56,963 200,889 150,633

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
Other Current Liabilities (Tables)	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of other Current Liabilities	The following table presents the Company’s other current liabilities ($ in thousands): September 30, 2023 December 31, 2022 Payroll 26,046 31,689 Accrued professional service fee 9,578 4,080 Payables for purchase of property and equipment 2,625 5,269 Accrued rebate to distributors 8,121 8,443 Tax payables 13,792 13,283 Others (i) 2,828 4,054 Total 62,990 66,818 (i) Others mainly include accrued travel and business-related expenses.

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
Loss Per Share (Tables)	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net loss attributable to ordinary shareholders (69,152) (161,190) (239,191) (381,517) Denominator: Weighted average number of ordinary shares - basic and diluted 968,767,730 959,085,960 965,060,570 957,439,910 Net loss per share - basic and diluted (0.07) (0.17) (0.25) (0.40)
Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share	As a result of the Company’s net loss for the three and nine months ended September 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. September 30, 2023 2022 Share options 107,249,960 90,511,530 Non-vested restricted shares 32,359,260 34,103,830

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
Share-Based Compensation (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation expense	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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Selling, general and administrative 14,041 11,298 35,880 27,221 Research and development 7,951 7,809 23,284 18,521 Total 21,992 19,107 59,164 45,742

Other Income (Expenses), Net (T

Other Income (Expenses), Net (Tables)	9 Months Ended
Other Income (Expenses), Net (Tables)	Sep. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Expense, Net	The following table presents the Company’s other income (expenses), net ($ in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Government grants 671 3,422 754 5,048 Loss on equity investments with readily determinable fair value (661) 489 (1,965) (12,067) Others miscellaneous gain 384 52 1,434 604 Total 394 3,963 223 (6,415)

Basis of Presentation and Con_3

Basis of Presentation and Consolidation and Significant Accounting Policies (Details) - USD ($) $ in Millions	Sep. 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	$ 4.5	$ 6.4

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Cash And Cash Equivalents [Line Items]
Cash	$ 787,725	$ 1,007,423
Cash equivalents	1,081	1,047
Cash and cash equivalents	788,806	1,008,470	$ 1,119,476
US$
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	764,765	957,824
RMB
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	21,056	45,486
Hong Kong dollar (“HK$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	2,352	4,378
Australian dollar (“A$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	553	598
Taiwan dollar (“TW$”)
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 80	$ 184

Inventories, Net - Summary of I

Inventories, Net - Summary of Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 21,417	$ 12,156
Raw materials	22,812	19,029
Work in progress	0	436
Inventories, net	$ 44,229	$ 31,621

Inventories, Net - Additional I

Inventories, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventory write-down	$ 0.1	$ 0.3	$ 0.7	$ 0.5

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment
Property and equipment, gross	$ 82,872	$ 79,927
Less: accumulated depreciation	(27,590)	(22,064)
Property and equipment, net	55,282	57,863
Office equipment
Property Plant And Equipment
Property and equipment, gross	1,024	977
Electronic equipment
Property Plant And Equipment
Property and equipment, gross	8,757	7,416
Vehicle
Property Plant And Equipment
Property and equipment, gross	196	202
Laboratory equipment
Property Plant And Equipment
Property and equipment, gross	19,858	18,726
Manufacturing equipment
Property Plant And Equipment
Property and equipment, gross	16,865	17,055
Leasehold improvements
Property Plant And Equipment
Property and equipment, gross	11,153	11,300
Construction in progress
Property Plant And Equipment
Property and equipment, gross	$ 25,019	$ 24,251

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.8	$ 2.1	$ 6.1	$ 5.7

Revenue - Summary of Product Re

Revenue - Summary of Product Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Product revenue - gross	$ 74,018	$ 60,446	$ 220,240	$ 168,095
Less: Rebates and sales returns	(4,790)	(3,483)	(19,351)	(17,462)
Product revenue - net	$ 69,228	$ 56,963	$ 200,889	$ 150,633

Revenue - Disaggregation of Net

Revenue - Disaggregation of Net Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Product revenue - net	$ 69,228	$ 56,963	$ 200,889	$ 150,633
ZEJULA
Disaggregation of Revenue [Line Items]
Product revenue - net	41,593	39,214	127,230	102,863
Optune
Disaggregation of Revenue [Line Items]
Product revenue - net	11,562	10,662	38,596	35,051
QINLOCK
Disaggregation of Revenue [Line Items]
Product revenue - net	5,702	5,541	14,535	9,123
NUZYRA
Disaggregation of Revenue [Line Items]
Product revenue - net	5,483	1,546	15,588	3,596
VYVGART
Disaggregation of Revenue [Line Items]
Product revenue - net	$ 4,888	$ 0	$ 4,940	$ 0

Income Tax (Details)

Income Tax (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Tax (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 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

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Payroll	$ 26,046	$ 31,689
Accrued professional service fee	9,578	4,080
Payables for purchase of property and equipment	2,625	5,269
Accrued rebate to distributors	8,121	8,443
Tax payables	13,792	13,283
Other	2,828	4,054
Total	$ 62,990	$ 66,818

Loss Per Share - Computation of

Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss attributable to ordinary shareholders - basic	$ (69,152)	$ (161,190)	$ (239,191)	$ (381,517)
Net loss attributable to ordinary shareholders - diluted	$ (69,152)	$ (161,190)	$ (239,191)	$ (381,517)
Denominator:
Weighted average number of ordinary shares - basic (in shares)	968,767,730	959,085,960	965,060,570	957,439,910
Weighted average number of ordinary shares - diluted (in shares)	968,767,730	959,085,960	965,060,570	957,439,910
Net loss per share - basic (in dollars per share)	$ (0.07)	$ (0.17)	$ (0.25)	$ (0.40)
Net loss per share - diluted (in dollars per share)	$ (0.07)	$ (0.17)	$ (0.25)	$ (0.40)

Loss Per Share - Summary of Ant

Loss Per Share - Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 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	107,249,960	90,511,530
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	32,359,260	34,103,830

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
Related Party Transactions (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Research and development expense	$ 58,767,000	$ 99,524,000	$ 183,920,000	$ 219,462,000
Limited Liability Company
Related Party Transaction [Line Items]
Research and development expense	$ 0	$ 0	$ 0	$ 300,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) 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 \| $	$ 114.6
Recognized over a weighted-average period	3 years 2 months 26 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%
Share options \| Tranche one \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20%
Share options \| Tranche two \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25%
Share options \| Tranche two \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20%
Share options \| Tranche three \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25%
Share options \| Tranche three \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20%
Share options \| Tranche four \| Since April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25%
Share options \| Tranche four \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20%
Share options \| Tranche five \| Prior to April 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	20%
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 \| $	$ 115.4
Recognized over a weighted-average period	2 years 11 months 23 days
2022 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted (in shares) \| shares	23,768,090
2022 Plan \| Non-vested restricted shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-option awards granted (in shares) \| shares	8,836,580

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 21,992	$ 19,107	$ 59,164	$ 45,742
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	14,041	11,298	35,880	27,221
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 7,951	$ 7,809	$ 23,284	$ 18,521

License and Collaboration Agr_2

License and Collaboration Agreements (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023
Entasis
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payment made	$ 3
Maximum additional milestone payments	88.6
Turning Point
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payment made	5
Maximum additional milestone payments	$ 141
MediLink
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront payments made		$ 10

Other Income (Expenses), Net (D

Other Income (Expenses), Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Government grants	$ 671	$ 3,422	$ 754	$ 5,048
Loss on equity investments with readily determinable fair value	(661)	489	(1,965)	(12,067)
Others miscellaneous gain	384	52	1,434	604
Total	$ 394	$ 3,963	$ 223	$ (6,415)

Restricted Net Assets (Details)

Restricted Net Assets (Details) - PRC - USD ($)	3 Months Ended		9 Months Ended
Restricted Net Assets (Details) - PRC - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Restricted net assets
Statutory reserves	$ 0	$ 0	$ 0	$ 0
Restricted amount by subsidiaries	$ 506,000,000		$ 506,000,000		$ 456,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2023 USD ($)
Property and Equipment
Loss Contingencies [Line Items]
Purchase obligation to be incurred within on year	$ 2.5