HK Stock Market Move | ZAI LAB (09688) rises over 5% again as core pipelines welcome intensive catalysis; innovation will become the core driving force for the next phase of growth.

ZAI LAB (09688) has risen over 5%, with the stock price up more than 30% since the earnings announcement. As of the time of publication, it is up 5.02%, priced at HKD 19.46, with a trading volume of HKD 304 million. In terms of news, ZAI LAB achieved total revenue of USD 106.3 million in the second quarter of this year, with net product revenue of USD 105.8 million, representing an 11% quarter-on-quarter growth, thanks to the stable performance of Zejula and the continued increase in sales of Aigamod. Notably, ZAI LAB's founder, Chairman, and CEO Du Ying stated that over the past few years, the company has gradually grown from bringing innovative drugs to Chinese patients to a global biopharmaceutical company focused on developing differentiated drugs for patients worldwide. Currently, the companys innovative pipeline is rapidly maturing, and innovation will increasingly become the core driver of the next phase of growth. China Securities Co., Ltd. pointed out that the companys self-developed assets are gradually entering the clinical value verification stage, with key self-developed pipelines expected to see intensive data readouts and critical R&D progress within the year. Important catalysts in the second half of 2026 include: the announcement of data for Zoci (ZL-1310, DLL3 ADC) in first-line small cell lung cancer (1L SCLC) combination therapy, the advancement of registration development for 1L SCLC and extra-pulmonary neuroendocrine carcinoma (epNEC); and the announcement of initial human data for ZL-1503 (IL-13IL-31R dual antibody), among others.