Zai Lab Agrees to $250 Million ADS Placement for Drug Development
Photo: TokenPost
Zai Lab Limited agreed Thursday, Oct. 22 (ET), to sell 11.34 million American depositary shares (ADSs) for $22.04 each, in a placement expected to provide about $241 million after expenses for global development of its zocilurtatug pelitecan candidate. The sale is expected to generate about $249.93 million before expenses and $241.17 million net after placement-agent fees and other costs. Zai Lab plans to direct most of the proceeds toward continued global development of zocilurtatug pelitecan, also known as zoci. Zoci is a Delta-like ligand 3 (DLL3)-targeting antibody-drug conjugate. The planned funding would support its development across global markets.
Source: TokenPost
