China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

[Zai LAB (ZLAB US) Earnings Review]: Pretty Much the Same…Maintain SELL

[Zai LAB (ZLAB US) Target Price Change]: Demonstrating Directionally Business Model to Profit

[Blue Lotus Innovative Drugs Sector Update]: Biotech-Biopharma Ecosystem Is Coming of Age in China

Zai Lab Ltd (ZLAB.US) - The Strength and the Concerns

Zai Lab Ltd (ZLAB.US/9688.HK) - Will Zai Lab Go into a Vicious Circle?

Gravity Works As WeWork Doesn't; Now Plan B

China/Asia TMT

Shawn Yang

Equity Bottom-Up

<ul>
<li>ZaiLab and NovoCure (NVCR US, NR) surged on positive readout of Optune’s Phase III on Non-Small-Cell-Lung Cancer (NSCLC), a major indication win after the smaller ones in Glioblastoma and Mesothelioma.</li>
<li>We, however, caution that the readout is largely expected and Optune faces uncertainty in commercialization both globally and in China;</li>
<li>We raise TP to US$35 to reflect possible readouts in other cancer types</li>
</ul>


ZaiLab and NovoCure (NVCR US, NR) surged on positive readout of Optune’s Phase III on Non-Small-Cell-Lung Cancer (NSCLC), a major indication win after the smaller ones in Glioblastoma and Mesothelioma.
We, however, caution that the readout is largely expected and Optune faces uncertainty in commercialization both globally and in China;
We raise TP to US$35 to reflect possible readouts in other cancer types


Zai LAB (ZLAB.US/9688.HK)：TTF Is Not a Done Deal, Both China and Globally