Zai Lab (ZLAB) Hits All-time High: Did You Ride The Rally?

(RTTNews) - Shares of Zai Lab Limited (ZLAB), which have gained nearly 32 percent so far this month, closed at an all-time high of $54.74 on Friday (Jan.24, 2020).

We alerted our premium subscribers to ZLAB on August 6, 2019, when it was trading around $31. (Report titled "Will the pipeline hold this Shanghai firm in good stead?")

Headquartered in Shanghai, China, Zai Lab is a commercial-stage biopharmaceutical company focusing on common tumor types.

On January 22, 2020, the Company priced its underwritten public offering of 5.50 million American depositary shares ("ADSs"), each representing one ordinary share of the Company, at a price of US$47.50 per ADS. The gross proceeds to Zai Lab from the offering are expected to be roughly US$261.3 million.

In addition, QM11 Limited, a shareholder of the Company, is offering 500,000 ADSs of the Company at the same price. Zai Lab will not receive any proceeds from the sale of ADSs by QM11 Limited.

The offering is expected to close on January 27, 2020, subject to customary closing conditions.

ZLAB has traded in a range of $23.42 to $55.53 in the last 1 year.