Amado Rafael, president and head of global oncology research and development at For Lab Ltd (NASDAQ: ), a $2.8 billion biopharmaceutical company whose stock has risen over 50% in the past six months, recently sold 7,583 American Depositary Shares (ADS) at an average price of $26,281 per share. The transaction, which occurred on December 31, 2024, is valued at approximately $199,288. This sale was made to cover taxes following the vesting of restricted stock units (RSUs). After this transaction, Rafael directly holds 33,834 ADSs.
Previously, on December 30, 2024, Rafael acquired 21,000 ADSs after the vesting of RSUs, although no cash transaction was involved in this acquisition. Each ADS represents ten ordinary shares of Zai Lab.
In other recent news, Zai Lab Limited reported significant developments in its financial results and strategic developments. The biopharmaceutical company recently reported a 47% increase in its third-quarter net product revenue of $101.8 million, driven largely by sales of its drug VYVGART. The company anticipates over 12,000 patients will begin treatment with VYVGART by the end of the year and is preparing to launch VYVGART Hytrulo for CIDP.
Zai Lab also disclosed a 40% year-over-year reduction in net loss, with current cash of $716 million. Despite ending its ADC collaboration with AbbVie (NYSE: ) due to toxicity concerns, Zai Lab maintains a strong market position with promising treatments like ZL-1503 for atopic dermatitis and ZL-6301 in the pipeline.
In addition to these recent developments, Zai Lab updated its risk factors in a recent filing with the SEC, providing current and potential investors with a revised understanding of the risks associated with its business operations. These updates reflect changes in the company’s business environment since its last annual report. As always, investors are encouraged to review these risk factors in conjunction with the Company’s prior disclosures.
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