Zai Lab completed a $150 million secondary offering of NASDAQ-listed shares, selling 7.5 million ADS at $20 each. All together, Zai is developing eight drug projects, six of them in clinical trials. The company is reported to have a $300 million Hong Kong IPO in the works, and on Tuesday, Quan Capital, which shares its top management with Zai, though the two companies are organizationally separate, filed to raise $300 million for its second healthcare VC fund. Zai’s stock has dropped 23% since the secondary was first announced last week.
Source: China Biotoday
