Zai Lab Limited Adr (ZLAB)

Zai Lab Health Care (ZLAB) went down 5.12% to $22.81 after presenting results from the phase 3 LUNAR trial evaluating TTFields therapy together with standard therapies for non-small cell lung cancer at the 2023 American Society of Clinical Oncology Annual Meeting.

https://twitter.com/AInvestOfficial/status/1696275441609322807

ZLAB's stock fell 14.55% after Zai Lab disclosed the phase 3 trial outcomes of its collaborative oncology therapy with NovoCure. Despite the favorable results, investors seemed unimpressed and expressed doubts about the study's methodology, suggesting that the comparison between TTFields and less effective therapy may have skewed the results.

https://www.fool.com/investing/2023/06/07/why-shares-of-zai-lab-are-dropping-wednesday/

In related news, after Director William Lis sold 5,434 shares of the business’s stock in a transaction, today Zai Lab Ltd. announced that its partner Karuna Therapeutics, Inc. (KRTX) reported its Phase 3 EMERGENT-3 trial met its primary endpoint for its lead investigational therapy KarXT in adults with schizophrenia. Karuna is planning to submit an NDA to the FDA in mid-2023. Despite the good news, there are still many concerns about the side effects of this investigational therapy and the risk of doing business in China.