Shanghai’s Zai Lab has officially announced its IPO by filing an initial prospectus with the US SEC. According to the prospectus, Zai will seek to stage an IPO on the NASDAQ exchange for as much as $115 million. Details of the offering are not included in the preliminary filing, though the filing specifies some operating details: Zai spent $32.1 million in R&D during 2016 and another $20.9 million during the first six months of 2017. On June 30, 2017, the company had $92.6 million in cash on hand after raising $164.5 million in equity financings over its three-year history.
Source: China Biotoday
