Zai Lab to Privately Place $250 Million in ADRs to Fund Drug Research

03:55 AM EDT, 10/23/2026 (MT Newswires) -- Zai Lab (ZLAB) agreed to privately place $250 million of American Depositary Shares with certain investors, to fund ongoing development of its drug zocilurtatug pelitecan, used to treat neuroendocrine cancers, the company said Friday. The company placed 11.34 million new ADS shares at a price of $22.04 each, with each share representing 10 ordinary shares of the company. The company's private investment in public equity, or PIPE financing, is expected to close on or about Oct. 27. The financing is led by investment shop TCGX, with participation from other new and existing investors including Aberdeen World Healthcare Fund, ADAR1 Capital Management, Balyasny Asset Management, Cormorant Asset Management, Frazier Life Sciences, RA Capital Management, RTW Investments, Sirenia Capital Management, Wellington Management, and Woodline Partners, Zai Lab said.