Quick Answer
Zai Lab Ltd reported R&D Expense of $220.90 million for fiscal year 2025.
Zai Lab Ltd R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $220.90M | -5.8% |
| 2024 | $234.50M | -11.8% |
| 2023 | $265.87M | -7.2% |
| 2022 | $286.41M | -50.0% |
| 2021 | $573.31M | +157.4% |
| 2020 | $222.71M | +56.6% |
| 2019 | $142.22M | +18.2% |
| 2018 | $120.28M | +205.7% |
| 2017 | $39.34M | +22.4% |
| 2016 | $32.15M | +136.6% |
| 2015 | $13.59M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $47.93M | -27.4% | -5.3% |
| June 30, 2025 | $50.61M | -17.9% | -16.7% |
| March 31, 2025 | $60.73M | +11.1% | -8.0% |
| September 30, 2024 | $65.98M | +12.3% | +7.1% |
| June 30, 2024 | $61.62M | -19.6% | +12.8% |
| March 31, 2024 | $54.65M | +12.7% | -7.0% |
| September 30, 2023 | $58.77M | -41.0% | -23.4% |
| June 30, 2023 | $76.68M | +16.0% | +58.2% |
- Zai Lab Ltd showed a decrease of -5.8% in R&D Expense compared to the prior fiscal year.
- Over the 2015–2025 period, Zai Lab Ltd’s r&d expense has grown by 1525.8% (from $13.59 million to $220.90 million).
- The most recent figure is from Zai Lab Ltd’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 26, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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