ZLAB Hisse Senedi Özeti Fiyat, piyasa değeri, P/E, EPS, ROE, borç/öz sermaye, 52 haftalık aralık

03

Fiyat $24.33

Piyasa Değeri (MRQ) $27.31B

P/E (TTM) -135.2

Hisse Başına Kâr (TTM) $-0.18

Gelir (TTM) $450M

ROE (TTM) -26.9%

D/E Borç/Özsermaye (MRQ) 0.4

52 Haftlık Aralık $16–$34

ZLAB Hisse Senedi Fiyat Grafiği Teknik göstergeler ile günlük OHLCV — kaydır, yakınlaştır ve görünümünüzü özelleştirin

04

aralık

çubuklar

Çubuk çözünürlüğü seçilen döneme uyum sağlar — bir çubuk için açılış/yüksek/düşük/kapanış değerlerini görmek için grafiğin üzerine gelin.

Zai Lab Limited - American Depositary Shares Hakkında Wikipedia'dan şirket genel bakışı

05 · wikidata

Wikidata ↗

sektörHealthcare endüstriBiotechnology çalışanlar1.784 ülkeCN

10 Yıllık Performans Gelir, net kar, marjlar ve EPS trendleri

06

Gelir$460M

2018-12-31 → 2025-12-31

Hisse Başına Kâr$-0.16

2020-12-31 → 2025-12-31

Serbest Nakit Akışı$-159M

2020-12-31 → 2025-12-31

Net kar marjı-41.9%

2020-12-31 → 2025-12-31

Değerleme ve Oranlar 07–12

Değerleme P/E, P/S, P/B, EV/EBITDA oranları — hisse senedi pahalı mı ucuz mu?

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
P/E (TTM)	-135.25Y ort. ≈-87.7	≈-87.7	·	·
F/S (TTM)	60.75Y ort. ≈63.6	≈63.6	·	·
F/D (MRQ)	45.05Y ort. ≈24.6	≈24.6	·	·
EV / EBITDA (TTM)	-108.5	·	·	·
Fiyat / Serbest Nakit Akışı (TTM)	-195.75Y ort. ≈-97.7	≈-97.7	·	·
Fiyat / Nakit Akışı (TTM)	-204.75Y ort. ≈-101.5	≈-101.5	·	·
EV / Gelir (TTM)	59.9	·	·	·
EV / FCF (TTM)	-192.9	·	·	·
Fiyat / Maddi Defter Değeri (MRQ)	52.45Y ort. ≈26.6	≈26.6	·	·

Akran ortalaması, metrik başına standartlaştırılmış bir temelde hesaplanır ve bu hisse senedi için gösterilen TTM/MRQ temelini her zaman eşleşmeyebilir.

Kârlılık Brüt, faaliyet ve net kâr marjları; ROE, ROA, ROIC

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
Faaliyet Kâr Marjı (TTM)	-58.7%5Y ort. ≈-185.8%	≈-185.8%	·	·
FAVÖK Marjı (TTM)	-55.2%5Y ort. ≈-182.2%	≈-182.2%	·	·
Vergi Öncesi Kar Marjı (TTM)	-42.4%5Y ort. ≈-179.0%	≈-179.0%	·	·
Net Kâr Marjı (TTM)	-41.9%5Y ort. ≈-179.1%	≈-179.1%	·	·
ROA (TTM)	-16.8%5Y ort. ≈-29.0%	≈-29.0%	·	·
ROE (TTM)	-26.9%5Y ort. ≈-36.2%	≈-36.2%	·	·
ROIC	-24.5%5Y ort. ≈-33.2%	≈-33.2%	·	·

Finansal Sağlık Borç, likidite, solventlik — bilanço gücü

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
Borç / Öz Sermaye (MRQ)	0.4	·	·	·
Cari Oran (MRQ)	2.15Y ort. ≈4.6	≈4.6	·	·
Cari Oran (MRQ)	1.65Y ort. ≈4.2	≈4.2	·	·

Büyüme Gelir, EPS ve net gelir büyümesi: YOY, 3 Yıllık CAGR, 5 Yıllık CAGR

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
Revenue YoY (Gelir Yıllık Bazda)	15.3%5Y ort. ≈66.5%	≈66.5%	·	·
Revenue CAGR 3Y (Gelir 3 Yıllık Bileşik Büyüme Oranı)	28.9%5Y ort. ≈48.4%	≈48.4%	·	·
Revenue CAGR 5Y (Gelir 5 Yıllık Bileşik Büyüme Oranı)	56.5%	·	·	·

Hisse Başı Metrikler Hisse Başı Kâr, hisse başına defter değeri, hisse başına nakit akışı, hisse başına temettü

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
EPS (Diluted) (Hisse Başına Kar (Seyreltilmiş))	$-0.165Y ort. ≈$-0.40	≈$-0.40	·	·
Revenue / Share (Hisse Başına Gelir)	$0.425Y ort. ≈$0.37	≈$0.37	·	·
Cash Flow / Share (Hisse Başına Nakit Akışı)	$-0.145Y ort. ≈$-0.19	≈$-0.19	·	·
Cash / Share (Hisse Başına Nakit)	$0.615Y ort. ≈$2.98	≈$2.98	·	·

Sermaye Verimliliği Aktif devir hızı, stok devir hızı, alacak devir hızı

Metrik	ZLAB	5Y ort.	Akran Ortalaması	Sonuç
Asset Turnover (Aktif Devir Hızı)	0.45Y ort. ≈0.3	≈0.3	·	·
Inventory Turnover (Stok Devir Hızı)	3.35Y ort. ≈3.1	≈3.1	·	·
Receivables Turnover (Alacak Devir Hızı)	4.85Y ort. ≈5.3	≈5.3	·	·
Revenue / Employee (Çalışan Başına Gelir)	≈$257.9K	·	·	·

değer · ≈ 5Y ort. · sektör ortalaması · ortalamaya göre değerlendirme

Kazanç Geçmişi EPS gerçekleşen vs tahmin, sürpriz %, kazanma oranı, bir sonraki kazanç tarihi

14

Ort. Sürpriz 17.0%

Dönem	EPS Gerçek	EPS Tahmin	Sürpriz
30 Haziran 2026	$-0.05	$-0.07	24.0%
31 Mart 2026	$-0.05	$-0.05	-4.4%
31 Aralık 2025	$-0.05	$-0.07	24.0%
30 Eylül 2025	$-0.03	$-0.04	32.4%
30 Haziran 2025	$-0.04	$-0.04	2.0%
31 Mart 2025	$-0.05	$-0.07	24.0%

Tüm Temeller Tüm metrikler yıla göre — gelir tablosu, bilanço, nakit akışı

15

Gelir Tablosu 16

Metrik	2025	2024	2023	2022	2021	2020	2019
Revenue	$460M	$399M	$267M	$215M	$144M	$49M	$13M
Cost of Revenue	$191M	$147M	$96M	$74M	$52M	$17M	$4M
R&D Expense	$221M	$235M	$266M	$286M	$573M	$223M	$142M
SG&A Expense	$278M	$299M	$282M	$259M	$219M	$111M	$70M
Operating Income	$-229M	$-282M	$-367M	$-404M	$-700M	$-302M	$-203M
Interest Expense	·	$2M	$0	$0	$0	$181.0K	$293.0K
Interest Income	$33M	$37M	$40M	$15M	$2M	$5M	$8M
Other Non-op	$4M	$5M	$7M	$3M	$-10M	$7M	$938.0K
Pretax Income	$-178M	$-257M	$-335M	$-443M	$-704M	$-269M	$-194M
Income Tax	$-3M	$0	$0	$0	$0	$0	·
Net Income	$-176M	$-257M	$-335M	$-443M	$-704M	$-269M	$-195M
EPS (Basic)	$-0.16	$-0.26	$-0.35	$-0.46	$-0.76	$-0.35	·
EPS (Diluted)	$-0.16	$-0.26	$-0.35	$-0.46	$-0.76	$-0.35	·
Shares (Basic)	1,095,311,090	989,477,730	966,394,130	958,067,140	929,921,120	776,677,430	·
Shares (Diluted)	1,095,311,090	989,477,730	966,394,130	958,067,140	929,921,120	776,677,430	·
EBITDA	$-214M	$-270M	$-358M	·	$-694M	$-297M	·

Bilanço 26

Metrik	2025	2024	2023	2022	2021	2020	2019
Cash & Equivalents	$680M	$450M	$790M	$1.01B	$964M	$442M	$76M
Short-term Investments	$10M	$330M	$16M	$0	$445M	$745M	$200M
Receivables	$106M	$85M	$59M	$40M	$47M	$5M	$4M
Inventory	$75M	$40M	$45M	$32M	$19M	$13M	$6M
Prepaid Expense	$37M	$42M	$23M	$36M	$18M	$11M	$7M
Current Assets	$1.02B	$1.05B	$940M	$1.12B	$1.50B	$1.22B	$292M
PP&E (Net)	$47M	$48M	$54M	$58M	$43M	$29M	$21M
PP&E (Gross)	$90M	$85M	$84M	$80M	$60M	$39M	$27M
Accum. Depreciation	$42M	$37M	$30M	$22M	$16M	$10M	$5M
Intangibles	$76M	$56M	$13M	$2M	$2M	$2M	$1M
Other Non-current Assets	$3M	$6M	·	·	·	·	·
Total Assets	$1.17B	$1.19B	$1.04B	$1.22B	$1.61B	$1.30B	$355M
Accounts Payable	$142M	$101M	$113M	$66M	$126M	$63M	$23M
Short-term Debt	$205M	$132M	$0	·	·	·	$6M
Current Liabilities	$416M	$299M	$203M	$140M	$193M	$98M	$47M
Capital Leases	$13M	$14M	$8M	$13M	$10M	$13M	$11M
Other Non-current Liabilities	$0	$325.0K	$325.0K	$0	·	·	·
Total Liabilities	$457M	$345M	$240M	$175M	$230M	$128M	$60M
Total Debt	$205M	$132M	·	·	·	·	·
Common Stock	$7.0K	$7.0K	$6.0K	$6.0K	$6.0K	$5.0K	$4.0K
Retained Earnings	$-2.63B	$-2.45B	$-2.20B	$-1.86B	$-1.42B	$-714M	$-445M
Treasury Stock	$29M	$21M	$21M	$12M	$4M	$0	·
AOCI	$30M	$51M	$38M	$26M	$-24M	$-15M	$5M
Stockholders' Equity	$716M	$841M	$796M	$1.05B	$1.38B	$1.17B	$295M
Liabilities + Equity	$1.17B	$1.19B	$1.04B	$1.22B	$1.61B	$1.30B	$355M
Shares Outstanding	1,106,389,340	1,082,614,740	977,151,270	962,455,850	955,363,980	878,110,260	682,372,470

Nakit Akışı 13

Metrik	2025	2024	2023	2022	2021	2020	2019
D&A	$15M	$12M	$9M	$8M	$6M	$5M	$4M
Stock-based Comp	$66M	$71M	$80M	$61M	$41M	$25M	$20M
Amort. of Intangibles	$6M	$3M	$700.0K	$500.0K	$500.0K	$300.0K	$305.0K
Other Non-cash	$-56M	$-40M	$48M	·	$108M	$23M	·
Operating Cash Flow	$-151M	$-215M	$-198M	$-368M	$-549M	$-216M	$-191M
CapEx	$8M	$6M	$7M	$25M	$18M	$10M	$6M
Investing Cash Flow	$308M	$-375M	$-11M	$420M	$250M	$-555M	$-15M
Stock Issued	$0	$217M	$0	$0	·	·	·
Net Stock Activity	$0	$217M	·	·	·	·	·
Financing Cash Flow	$72M	$350M	$-6M	$-2M	$820M	$1.13B	$219M
Net Change in Cash	$230M	$-240M	$-218M	$44M	$522M	$366M	$13M
Free Cash Flow	$-159M	$-221M	$-205M	·	$-568M	$-226M	·
Levered FCF	·	$-223M	·	·	·	·	·

Kârlılık 7

Metrik	2025	2024	2023	2022	2021	2020	2019
Operating Margin	-49.9%	-70.7%	-137.4%	·	-485.1%	-616.5%	·
Net Margin	-38.1%	-64.4%	-125.5%	·	-488.2%	-549.3%	·
Pretax Margin	-38.8%	-64.4%	-125.5%	·	-487.4%	-549.3%	·
EBITDA Margin	-46.6%	-67.7%	-134.1%	·	-480.6%	-607.0%	·
ROA	-14.9%	-23.1%	-29.7%	·	-48.5%	-32.5%	·
ROE	-23.3%	-34.1%	-39.9%	·	-47.5%	-23.3%	·
ROIC	-24.5%	-29.0%	-46.1%	·	·	·	·

Likidite ve Solventlik 4

Metrik	2025	2024	2023	2022	2021	2020	2019
Current Ratio	2.4	3.5	4.6	·	7.8	12.4	·
Quick Ratio	1.9	2.9	4.3	·	7.6	12.2	·
Debt / Equity	0.3	0.2	·	·	·	·	·
Interest Coverage	·	-125.2	·	·	·	-1667.4	·

Verimlilik 3

Metrik	2025	2024	2023	2022	2021	2020	2019
Asset Turnover	0.4	0.4	0.2	·	0.1	0.1	·
Inventory Turnover	3.3	3.5	2.5	·	3.3	1.7	·
Receivables Turnover	4.8	5.5	5.4	·	5.5	10.9	·

Hisse Başına 5

Metrik	2025	2024	2023	2022	2021	2020	2019
Book Value / Share	$0.65	$0.78	$0.82	·	$14.44	$13.32	·
Revenue / Share	$0.42	$0.40	$0.28	·	·	·	·
Cash Flow / Share	$-0.14	$-0.22	$-0.21	·	·	·	·
Cash / Share	$0.61	$0.42	$0.81	·	$10.09	$5.03	·
EPS (TTM)	$-0.16	$-0.26	$-0.35	$-0.46	$-0.76	$-0.35	·

Büyüme Oranları 3

Metrik	2025	2024	2023	2022	2021	2020	2019
Revenue YoY	15.3%	49.6%	24.0%	49.0%	194.8%	·	·
Revenue CAGR 3Y	28.9%	40.4%	76.0%	·	·	·	·
Revenue CAGR 5Y	56.5%	·	·	·	·	·	·

Değerleme (TTM) 14

Metrik	2025	2024	2023	2022	2021	2020	2019
Revenue TTM	$460M	$399M	$267M	$215M	$144M	$49M	·
Net Income TTM	$-176M	$-257M	$-335M	$-443M	$-704M	$-269M	·
Market Cap	$19.52B	$28.23B	$26.57B	·	$6.00B	$11.88B	·
Enterprise Value	$19.03B	$27.58B	·	·	·	·	·
P/E	-110.2	-100.7	-78.1	-66.7	-82.7	-386.7	·
P/S	42.4	70.7	99.6	·	41.6	242.7	·
P/B	27.3	33.6	33.4	·	4.4	10.2	·
P / Tangible Book	30.5	36.0	33.9	28.2	4.4	10.2	·
P / Cash Flow	-129.4	-131.4	-134.1	·	-10.9	-55.0	·
P / FCF	-122.8	-128.0	-129.4	·	-10.6	-52.5	·
EV / EBITDA	-88.8	-102.0	·	·	·	·	·
EV / FCF	-119.8	-125.1	·	·	·	·	·
EV / Revenue	41.4	69.1	·	·	·	·	·
Earnings Yield	-0.91%	-0.99%	-1.3%	-1.5%	-1.2%	-0.26%	·

Gelir Tablosu 16

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$106M	$100M	$128M	$116M	$110M	$106M	$109M	$102M	$101M	$87M	$66M	$69M	$69M	$63M	$63M	$58M
Cost of Revenue	$48M	$38M	$62M	$47M	$43M	$38M	$42M	$37M	$35M	$34M	$25M	$25M	$24M	$21M	$21M	$20M
R&D Expense	$62M	$66M	$62M	$48M	$51M	$61M	$52M	$66M	$62M	$55M	$82M	$59M	$77M	$48M	$67M	$100M
SG&A Expense	$73M	$65M	$73M	$70M	$71M	$63M	$83M	$67M	$80M	$69M	$83M	$69M	$68M	$63M	$72M	$67M
Operating Income	$-76M	$-69M	$-69M	$-49M	$-55M	$-56M	$-68M	$-68M	$-76M	$-70M	$-124M	$-84M	$-90M	$-70M	$-97M	$-129M
Interest Expense	·	·	·	·	·	·	·	·	·	$113.0K	·	·	·	$0	·	·
Interest Income	$6M	$6M	$7M	$8M	$9M	$9M	$9M	$9M	$9M	$10M	$10M	$9M	$10M	$10M	$9M	$4M
Other Non-op	$5M	$162.0K	$495.0K	$-508.0K	$4M	$-197.0K	$1M	$3M	$-9M	$9M	$7M	$394.0K	$-1M	$1M	$10M	$4M
Pretax Income	$-52M	$-50M	$-53M	$-36M	$-41M	$-48M	$-82M	$-42M	$-80M	$-53M	$-95M	$-69M	$-121M	$-49M	$-62M	$-161M
Income Tax	$-1M	$1M	$-3M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	$-51M	$-51M	$-50M	$-36M	$-41M	$-48M	$-82M	$-42M	$-80M	$-53M	$-95M	$-69M	$-121M	$-49M	$-62M	$-161M
EPS (Basic)	$-0.05	$-0.05	$-0.05	$-0.03	$-0.04	$-0.04	$-0.09	$-0.04	$-0.08	$-0.05	$-0.10	$-0.07	$-0.13	$-0.05	$-0.06	$-0.17
EPS (Diluted)	$-0.05	$-0.05	$-0.05	$-0.03	$-0.04	$-0.04	$-0.09	$-0.04	$-0.08	$-0.05	$-0.10	$-0.07	$-0.13	$-0.05	$-0.06	$-0.17
Shares (Basic)	1,116,973,380	1,107,390,590	·	1,102,072,680	1,091,933,150	1,080,825,300	·	981,687,390	975,937,790	973,145,760	·	968,767,730	964,817,310	961,444,780	·	959,085,960
Shares (Diluted)	1,116,973,380	1,107,390,590	·	1,102,072,680	1,091,933,150	1,080,825,300	·	981,687,390	975,937,790	973,145,760	·	968,767,730	964,817,310	961,444,780	·	959,085,960
EBITDA	$-76M	$-65M	·	$-49M	$-55M	$-53M	·	$-68M	$-76M	$-67M	·	$-84M	$-90M	$-67M	·	$-129M

Bilanço 26

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$608M	$651M	$680M	$717M	$732M	$757M	$450M	$616M	$630M	$651M	·	$789M	$859M	$880M	·	$1.12B
Short-term Investments	$10M	$10M	$10M	$0	$0	$0	$330M	$0	$0	$0	·	$32M	$16M	$51M	·	$0
Receivables	$70M	$54M	$106M	$85M	$88M	$77M	$85M	$50M	$70M	$60M	·	$42M	$47M	$43M	·	$28M
Inventory	$91M	$86M	$75M	$67M	$62M	$53M	$40M	$40M	$42M	$38M	·	$44M	$36M	$38M	·	$29M
Prepaid Expense	$33M	$35M	$37M	$44M	$41M	$44M	$42M	$36M	$20M	$24M	·	$30M	$38M	$43M	·	$22M
Current Assets	$914M	$945M	$1.02B	$1.03B	$1.03B	$1.04B	$1.05B	$861M	$870M	$889M	·	$960M	$1.02B	$1.07B	·	$1.21B
PP&E (Net)	$46M	$47M	$47M	$49M	$50M	$50M	$48M	$51M	$51M	$52M	·	$55M	$56M	$58M	·	$51M
PP&E (Gross)	$94M	$92M	$90M	$89M	$89M	$89M	$85M	$87M	$85M	$85M	·	$83M	$82M	$83M	·	$71M
Accum. Depreciation	$47M	$45M	$42M	$41M	$39M	$39M	$37M	$36M	$34M	$32M	·	$28M	$26M	$24M	·	$20M
Intangibles	$86M	$76M	$76M	$55M	$57M	$56M	$56M	$52M	$44M	$12M	·	$2M	$2M	$1M	·	$2M
Other Non-current Assets	$4M	$3M	$3M	$2M	$3M	$3M	$6M	·	·	·	·	·	·	·	·	·
Total Assets	$1.07B	$1.10B	$1.17B	$1.16B	$1.16B	$1.17B	$1.19B	$985M	$987M	$988M	·	$1.04B	$1.11B	$1.17B	·	$1.30B
Accounts Payable	$137M	$126M	$142M	$100M	$107M	$103M	$101M	$121M	$127M	$88M	·	$55M	$67M	$66M	·	$90M
Short-term Debt	$238M	$214M	$205M	$203M	$175M	$173M	$132M	$113M	$70M	$48M	·	·	·	·	·	·
Current Liabilities	$429M	$393M	$416M	$360M	$332M	$320M	$299M	$286M	$252M	$192M	·	$125M	$133M	$125M	·	$156M
Capital Leases	$11M	$12M	$13M	$11M	$11M	$12M	$14M	$6M	$6M	$8M	·	$10M	$12M	$13M	·	$14M
Other Non-current Liabilities	$225.0K	$40.0K	$0	$325.0K	$325.0K	$325.0K	$325.0K	$325.0K	$325.0K	$325.0K	·	$325.0K	$325.0K	$325.0K	·	·
Total Liabilities	$468M	$434M	$457M	$399M	$372M	$363M	$345M	$318M	$283M	$226M	·	$163M	$174M	$169M	·	$193M
Total Debt	$238M	$214M	·	$203M	$175M	$173M	·	$113M	$70M	$48M	·	·	·	·	·	·
Common Stock	$7.0K	$7.0K	$7.0K	$7.0K	$7.0K	$7.0K	$7.0K	$6.0K	$6.0K	$6.0K	·	$6.0K	$6.0K	$6.0K	·	$6.0K
Retained Earnings	$-2.73B	$-2.68B	$-2.63B	$-2.58B	$-2.54B	$-2.50B	$-2.45B	$-2.37B	$-2.33B	$-2.25B	·	$-2.10B	$-2.03B	$-1.91B	·	$-1.80B
Treasury Stock	$34M	$31M	$29M	$29M	$21M	$21M	$21M	$21M	$21M	$21M	·	$21M	$21M	$17M	·	$11M
AOCI	$214.0K	$15M	$30M	$40M	$46M	$49M	$51M	$28M	$43M	$39M	·	$48M	$52M	$17M	·	$40M
Stockholders' Equity	$607M	$662M	$716M	$760M	$792M	$811M	$841M	$668M	$704M	$762M	$796M	$881M	$932M	$1.00B	$1.05B	$1.11B
Liabilities + Equity	$1.07B	$1.10B	$1.17B	$1.16B	$1.16B	$1.17B	$1.19B	$985M	$987M	$988M	·	$1.04B	$1.11B	$1.17B	·	$1.30B
Shares Outstanding	1,122,445,390	1,110,232,620	1,106,389,340	1,105,865,950	1,099,112,890	1,084,164,200	1,077,702,540	984,356,170	981,398,140	973,285,510	977,151,270	969,037,150	968,566,280	963,688,740	962,455,850	959,724,940

Nakit Akışı 11

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$4M	$4M	$4M	$4M	$4M	$3M	$3M	$3M	$3M	$3M	$2M	$2M	$2M	$3M	$2M	$2M
Stock-based Comp	$12M	$14M	$16M	$17M	$17M	$16M	$17M	$17M	$19M	$18M	$20M	$22M	$21M	$17M	$16M	$19M
Amort. of Intangibles	$2M	$2M	$1M	$2M	$2M	$2M	$1M	$700.0K	$800.0K	$700.0K	$200.0K	$200.0K	·	·	·	·
Other Non-cash	·	$22M	·	·	·	$-33M	·	·	·	$-58M	·	·	·	$-39M	·	·
Operating Cash Flow	$-63M	$-12M	$-26M	$-32M	$-31M	$-62M	$-56M	$-27M	$-42M	$-90M	$-15M	$-55M	$-59M	$-69M	$-109M	$-126M
CapEx	$1M	$1M	$677.0K	$3M	$3M	$2M	$3M	$1M	$741.0K	$974.0K	$222.0K	$2M	$2M	$4M	$4M	$7M
Investing Cash Flow	$-1M	$-22M	$-11M	$-4M	$-3M	$326M	$-348M	$-30M	$-846.0K	$3M	$14M	$-14M	$43M	$-54M	$-4M	$568M
Financing Cash Flow	$19M	$6M	$-430.0K	$21M	$9M	$43M	$238M	$42M	$22M	$48M	$393.0K	$-1M	$-1M	$-4M	$-199.0K	$709.0K
Net Change in Cash	$-44M	$-28M	$-38M	$-15M	$-25M	$308M	$-166M	$-14M	$-21M	$-39M	$666.0K	$-70M	$-20M	$-128M	$-111M	$439M
Free Cash Flow	·	$-13M	·	·	·	$-63M	·	·	·	$-91M	·	·	·	$-73M	·	·
Levered FCF	·	·	·	·	·	·	·	·	·	$-91M	·	·	·	·	·	·

Kârlılık 7

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Operating Margin	-72.0%	-69.7%	·	-42.0%	-49.9%	-52.9%	·	-66.3%	-75.7%	-80.7%	·	-120.7%	-130.0%	-110.7%	·	-223.5%
Net Margin	-47.8%	-51.2%	·	-31.0%	-37.0%	-45.5%	·	-40.8%	-79.9%	-61.4%	·	-99.9%	-175.6%	-78.3%	·	-280.1%
Pretax Margin	-48.8%	-49.8%	·	-31.0%	-37.0%	-45.5%	·	-40.8%	-79.9%	-61.4%	·	-99.9%	-175.6%	-78.3%	·	-280.1%
EBITDA Margin	-72.0%	-65.7%	·	-42.0%	-49.9%	-49.6%	·	-66.3%	-75.7%	-77.2%	·	-120.7%	-130.0%	-106.5%	·	-223.5%
ROA	-4.5%	-4.5%	·	-3.4%	-3.8%	-4.5%	·	-4.1%	-7.7%	-5.0%	·	-5.9%	-9.6%	-3.7%	·	-10.7%
ROE	-7.3%	-6.9%	·	-5.0%	-5.5%	-6.2%	·	-5.4%	-9.8%	-6.1%	·	-7.0%	-11.3%	-4.3%	·	-12.0%
ROIC	-8.9%	-8.2%	·	-5.1%	-5.7%	-5.7%	·	-8.7%	-9.8%	-8.7%	·	-9.5%	-9.6%	-6.9%	·	-11.6%

Likidite ve Solventlik 4

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio	2.1	2.4	·	2.9	3.1	3.3	·	3.0	3.5	4.6	·	7.7	7.6	8.6	·	7.8
Quick Ratio	1.6	1.8	·	2.2	2.5	2.6	·	2.3	2.8	3.7	·	6.9	6.9	7.8	·	7.4
Debt / Equity	0.4	0.3	·	0.3	0.2	0.2	·	0.2	0.1	0.1	·	·	·	·	·	·
Interest Coverage	·	·	·	·	·	·	·	·	·	-622.2	·	·	·	·	·	·

Verimlilik 3

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover	0.1	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.0	·	0.0
Inventory Turnover	0.6	0.6	·	0.9	0.8	0.8	·	0.9	0.9	0.9	·	0.7	0.8	0.7	·	1.0
Receivables Turnover	1.3	1.5	·	1.7	1.4	1.6	·	2.2	1.7	1.7	·	2.0	1.9	1.6	·	2.4

Hisse Başına 5

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$0.54	$0.60	·	$0.69	$0.72	$0.75	·	$0.68	$0.72	$0.78	·	$0.91	$0.96	$1.04	·	$1.15
Revenue / Share	$0.10	$0.09	·	$0.11	$0.10	$0.10	·	$0.10	$0.10	$0.09	·	$0.07	$0.07	$0.07	·	$0.06
Cash Flow / Share	·	$-0.01	·	·	·	$-0.06	·	·	·	$-0.09	·	·	·	$-0.07	·	·
Cash / Share	$0.54	$0.59	·	$0.65	$0.67	$0.70	·	$0.63	$0.64	$0.67	·	$0.81	$0.89	$0.91	·	$1.17
EPS (TTM)	$-0.18	$-0.17	·	$-0.20	$-0.21	$-0.25	·	$-0.27	$-0.30	$-0.35	·	$-0.31	$-0.41	$-0.42	·	$-0.63

Değerleme (TTM) 11

Metrik	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$450M	$453M	·	$442M	$428M	$418M	·	$356M	$323M	$291M	·	$263M	$252M	$231M	·	$197M
Net Income TTM	$-188M	$-178M	·	$-207M	$-213M	$-252M	·	$-271M	$-298M	$-339M	·	$-301M	$-393M	$-410M	·	$-593M
Market Cap	$21.33B	$20.88B	·	$37.48B	$38.44B	$39.18B	·	$23.76B	$17.01B	$15.59B	·	$23.56B	$26.86B	$32.05B	·	$32.82B
Enterprise Value	$20.95B	$20.44B	·	$36.96B	$37.88B	$38.60B	·	$23.26B	$16.45B	$14.99B	·	·	·	·	·	·
P/E	-105.6	-110.6	·	-169.4	-166.5	-144.6	·	-89.4	-57.8	-45.8	·	-78.4	-67.6	-79.2	·	-54.3
P/S	47.4	46.1	·	84.9	89.8	93.7	·	66.8	52.7	53.6	·	89.4	106.7	138.7	·	166.9
P/B	35.1	31.5	·	49.3	48.5	48.3	·	35.6	24.2	20.5	·	26.7	28.8	32.0	·	29.7
P / Tangible Book	40.9	35.6	·	53.2	52.3	51.9	·	38.6	25.8	20.8	·	26.8	28.9	32.1	·	29.7
P / Cash Flow	·	-1753.1	·	·	·	-635.0	·	·	·	-173.0	·	·	·	-462.6	·	·
EV / Revenue	46.6	45.1	·	83.7	88.5	92.3	·	65.4	51.0	51.5	·	·	·	·	·	·
Earnings Yield	-0.95%	-0.90%	·	-0.59%	-0.60%	-0.69%	·	-1.1%	-1.7%	-2.2%	·	-1.3%	-1.5%	-1.3%	·	-1.8%

En son dönem solda · null değerler · olarak gösterilir

Finansal Tablolar Gelir tablosu, bilanço, nakit akışı — yıllık, son 5 yıl

16

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Gelir	$460M	$399M	$267M	$215M	$144M
Faaliyet Kâr Marjı %	-49.9%	-70.7%	-137.4%	·	-485.1%
Net Gelir	$-176M	$-257M	$-335M	$-443M	$-704M
Seyreltilmiş Hisse Başı Kâr	$-0.16	$-0.26	$-0.35	$-0.46	$-0.76

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Borç / Öz Sermaye	0.3	0.2	·	·	·
Cari Oran	2.4	3.5	4.6	·	7.8
Cari Oran	1.9	2.9	4.3	·	7.6

Metrik	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Serbest Nakit Akışı	$-159M	$-221M	$-205M	·	$-568M

Kurumsal Sahipler (13F) 97 dosya · $813.8M toplam · Tarih itibarıyla 30 Haziran 2026

17

Çeyreklik SEC Form 13F'lerinde bu hisse senedini tuttuklarını bildiren kurumlar. Yalnızca uzun pozisyonlar; tek bir başvuru sahibi, ayrı opsiyon bacakları için iki kez görünebilir. Büyük dengeleyici alım/satım bacakları genellikle piyasa yapımını veya korunmuş envanteri yansıtır, yönlü bir inancı değil.

Sahipler 97

Tutulan Değer $813.8M

Yeni pozisyonlar 16

Çıkan pozisyonlar 21

Kurumsal faaliyet — Q2 2026 ve önceki çeyrek

Yeni pozisyonlar	Çıkan pozisyonlar	Artırıldı	Azaldı	Net hisse senedi değişimi
16 (-4 önceki Ç'ye göre)	21 (-20 önceki Ç'ye göre)	29 (+5 önceki Ç'ye göre)	26 (-17 önceki Ç'ye göre)	+15.2M

Q1 2026 ile karşılaştırıldı. SEC Form 13F başvuruları, çeyrek sonundan itibaren 45 gün içinde ve geç başvuranlar için kısa bir ek süre içinde tamamlanmalıdır — bu pencere içindeki çeyrekler, en son tam olarak raporlanan çifte tercih edilerek atlanır.

Kurum	Değer	Hisse senetleri	% izlenen 13F'nin	Tür
RTW INVESTMENTS, LP	$124.906.608	6.574.032	15,35%	Hisse senetleri
TCG Crossover Management, LLC	$116.614.913	6.137.627	14,33%	Hisse senetleri
RA CAPITAL MANAGEMENT, L.P.	$109.127.127	5.743.533	13,41%	Hisse senetleri
ADAR1 Capital Management, LLC	$64.011.646	3.369.034	7,87%	Hisse senetleri
FMR LLC	$53.489.066	2.815.214	6,57%	Hisse senetleri
GOLDMAN SACHS GROUP INC	$43.994.120	2.315.480	5,41%	Hisse senetleri
Woodline Partners LP	$41.938.567	2.207.293	5,15%	Hisse senetleri
Frazier Life Sciences Management, L.P.	$36.144.080	1.902.320	4,44%	Hisse senetleri
BAMCO INC /NY/	$30.850.186	1.623.694	3,79%	Hisse senetleri
TWO SIGMA INVESTMENTS, LP	$24.688.486	1.299.394	3,03%	Hisse senetleri
CITADEL ADVISORS LLC	$24.409.414	1.284.706	3,00%	Hisse senetleri
Rock Springs Capital Management LP	$15.479.433	814.707	1,90%	Hisse senetleri
BlackRock, Inc.	$12.624.778	664.462	1,55%	Hisse senetleri
JANE STREET GROUP, LLC	$9.054.279	476.541	1,11%	Hisse senetleri
B Group, Inc.	$8.562.274	450.646	1,05%	Hisse senetleri
SCHRODER INVESTMENT MANAGEMENT GROUP	$7.238.204	393.167	0,89%	Hisse senetleri
NAN FUNG TRINITY (HK) LTD	$6.582.854	346.466	0,81%	Hisse senetleri
Aberdeen Group plc	$5.914.586	311.294	0,73%	Hisse senetleri
CITIGROUP INC	$5.714.725	300.775	0,70%	Hisse senetleri
Spruce Street Capital LP	$5.303.090	279.110	0,65%	Hisse senetleri
AMERIPRISE FINANCIAL INC	$4.810.249	253.171	0,59%	Hisse senetleri
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	$4.692.658	246.982	0,58%	Hisse senetleri
Hudson Bay Capital Management LP	$4.085.000	215.000	0,50%	Hisse senetleri
JANE STREET GROUP, LLC	$3.864.600	203.400	0,47%	Satım opsiyonu
Nantahala Capital Management, LLC	$3.800.000	200.000	0,47%	Hisse senetleri
NEXTBio Capital Management LP	$3.483.878	183.362	0,43%	Hisse senetleri
SUPERSTRING CAPITAL MANAGEMENT LP	$2.960.447	155.813	0,36%	Hisse senetleri
Seven Fleet Capital Management LP	$2.924.756	136.016	0,36%	Hisse senetleri
MARSHALL WACE, LLP	$2.797.123	147.217	0,34%	Hisse senetleri
D. E. Shaw & Co., Inc.	$2.682.002	141.158	0,33%	Hisse senetleri
Privium Fund Management B.V.	$2.321.591	122.189	0,29%	Hisse senetleri
STATE STREET CORP	$2.296.074	120.846	0,28%	Hisse senetleri
AXA Investment Managers S.A.	$2.230.436	65.814	0,27%	Hisse senetleri
ALPS ADVISORS INC	$2.098.189	110.431	0,26%	Hisse senetleri
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$2.086.200	109.800	0,26%	Satım opsiyonu
DIMENSIONAL FUND ADVISORS LP	$1.934.621	101.997	0,24%	Hisse senetleri
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$1.454.735	76.565	0,18%	Hisse senetleri
Legal & General Group Plc	$1.358.116	71.461	0,17%	Hisse senetleri
UBS Group AG	$1.319.626	69.454	0,16%	Hisse senetleri
Orion Portfolio Solutions, LLC	$1.310.400	36.259	0,16%	Hisse senetleri
Virtus Investment Advisers, LLC	$1.294.356	68.124	0,16%	Hisse senetleri
Headlands Technologies LLC	$1.292.190	68.010	0,16%	Hisse senetleri
MORGAN STANLEY	$1.242.619	65.401	0,15%	Hisse senetleri
DCF Advisers, LLC	$1.206.500	63.500	0,15%	Hisse senetleri
CITADEL ADVISORS LLC	$953.800	50.200	0,12%	Satım opsiyonu
Quadrature Capital Ltd	$741.532	39.028	0,09%	Hisse senetleri
WOLVERINE TRADING, LLC	$714.581	21.700	0,09%	Satım opsiyonu
WealthPlan Investment Management, LLC	$698.459	36.761	0,09%	Hisse senetleri
NORTHERN TRUST CORP	$455.601	23.979	0,06%	Hisse senetleri
GEODE CAPITAL MANAGEMENT, LLC	$453.701	23.879	0,06%	Hisse senetleri

Tüm 97 kurumsal sahibi göster →

Şirket yöneticileri 20 içeriden öğrenenler · 11 yöneticiler · 10 yönetim kurulu üyeleri

19

İçeriden Öğrenen	Rol	Son işlem	Sahip olunan hisse senetleri	Alımlar 12ay	Satışlar 12ay	Net 12ay
Ying Du	Chairperson & CEO	02 Temmuz 2026 A	1.221.401	0	15	$-8.578.643
Yajing Chen	Chief Financial Officer	19 Ağustos 2026 S	35.635	0	7	$-223.642
William Ki Chul Cho	Chief Financial Officer	03 Nisan 2023 M	53.747	0	0	$0
Joshua L Smiley	President and Chief Operating Officer	06 Nisan 2026 S	117.602	0	3	$-294.354
Rafael Amado	President, Head of Global Oncology Research and Development	06 Nisan 2026 S	57.022	0	5	$-674.984
Harald Reinhart	President and Head of Global Development for Neuroscience, Autoimmune and Infectious Diseases	25 Haziran 2024 M	62.619	0	0	$0
Yi Liang	CCO & President, Greater China	25 Haziran 2022 A	104.847	0	0	$0
Tao Fu	President & COO	28 Ekim 2021 S	77.500	0	0	$0
Frazor Titus Edmondson III	Chief Legal Officer	25 Haziran 2026 M	30.346	0	8	$-1.005.489
Yizhe Wang	Operating Partner	11 Mayıs 2026 A	·	0	0	$0
Alan B. Sandler	Head of Global Dev., Oncology	25 Haziran 2022 A	28.985	0	0	$0
Richard Gaynor	Yönetim kurulu üyesi	01 Temmuz 2026 P	80.737	2	0	$65.804
Nisa Leung	Yönetim kurulu üyesi	17 Haziran 2026 A	96.297	0	0	$0
Michel Vounatsos	Yönetim kurulu üyesi	17 Haziran 2026 A	72.787	0	0	$0
Scott W Morrison	Yönetim kurulu üyesi	17 Haziran 2026 A	56.904	0	0	$0
John D. Diekman	Yönetim kurulu üyesi	17 Haziran 2026 A	122.140	0	0	$0
MOULDER LEON O JR	Yönetim kurulu üyesi	17 Haziran 2026 A	94.973	0	0	$0
WIRTH PETER	Yönetim kurulu üyesi	17 Haziran 2026 A	416.121	0	0	$0
Kai-Xian Chen	Yönetim kurulu üyesi	31 Aralık 2024 D	39.525	0	0	$0
William Lis	·	12 Ağustos 2026 S	41.931	0	2	$-340.004

SEC Form 3/4/5 başvurularından yöneticiler; net = yalnızca açık piyasa Alış/Satış

ETF sahipliği 8 ETF'ler tarafından tutuluyor

20

Ağırlık yalnızca doğrudan öz sermaye varlıklarını (N-PORT) yansıtır; kaldıraçlı veya türev tabanlı fonlar gösterilmeyen ek swap pozisyonlarına sahip olabilir.

Fon	Ağırlık	Birimler	Tarih itibarıyla	Kaynak
BBP · ETFis Series Trust I	1,47%	79.505 NS	31 Temmuz 2026	N-PORT
PGJ · Invesco Exchange-Traded Fund Trust	0,86%	28.106 SH	02 Ekim 2026	Günlük
IBB · iShares Trust	0,16%	684.677 SH	11 Eylül 2026	Günlük
IBBQ · Invesco Exchange-Traded Fund Trust …	0,08%	3.144 SH	02 Ekim 2026	Günlük
DFEM · Dimensional ETF Trust	0,01%	26.020 NS	31 Temmuz 2026	N-PORT
DFSE · Dimensional ETF Trust	0,01%	1.660 NS	31 Temmuz 2026	N-PORT
DFAE · Dimensional ETF Trust	0,00%	10.010 NS	31 Temmuz 2026	N-PORT
DFAX · Dimensional ETF Trust	0,00%	2.911 NS	31 Temmuz 2026	N-PORT

ZLAB Analist Uzlaşması Boğa ve ayı analist görüşleri, 12 aylık fiyat hedefi, yukarı yönlü potansiyel

21

derecelendirme · 15 analist AL

Medyan hedef $31.84 +30,9%

2 13,3% Güçlü Al

10 66,7% Al

3 20,0% Tut

0 0,0% Sat

0 0,0% Güçlü Sat

12 Aylık Fiyat Hedefi

12 analist · 2026-09-29

Ortalama hedef $33.14 +36,2%

Şimdi Mevcut fiyat $24.33

Düşük$24.25 Ortalama$33.14 Yüksek$50.00

Son Haberler Bu şirketten bahseden son manşetler

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ZLAB Analist Uzlaşması Boğa ve ayı analist görüşleri, 12 aylık fiyat hedefi, yukarı yönlü potansiyel

12 Aylık Fiyat Hedefi

Son Haberler Bu şirketten bahseden son manşetler

Metriklerim Kişisel izleme listeniz — Tam Temeller'den seçilen satırlar