Zai Lab Limited

Hello, ladies and gentlemen. Thank you for standing by and welcome to Xilep's first quarter 2025 Financial Results Conference call. At this time, all participants are in listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. As a reminder, today's call is being recorded. It is now my pleasure to turn the floor over to Christine Cho, Senior Vice President of Investor Relations. Please go ahead.

Thank you, operator. Hello and welcome everyone. Today's earnings call will be led by Dr. Samantha Du, Scilab's founder, CEO, and chairperson. She will be joined by Josh Smiley, President and Chief Operating Officer, Dr. Rafael Amado, President and Head of Global Research and Development, and Dr. Yaojin Chen, Chief Financial Officer. Jonathan Wang, our Chief Business Officer, will also be available to answer questions during the Q&A portion of the call. As a reminder, during today's call, we will be making certain forward-looking statements based on our current expectations. These statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from what we expect due to a variety of factors, including those discussed in our SEC filings. We will also refer to adjusted loss from operations, which is a non-GAAP financial measure. Please refer to our earnings release furnished with the SEC on May 8th, 2025 for additional information on this non-GAAP financial measure. At this time, it is my pleasure to turn the call over to Dr. Samantha Du.

Thank you, Christine. Good morning and good evening, everyone. Thank you for joining us today. We entered 2025 with a conviction that this would be a pivotal year for Zalai, a year where strong execution disciplined growth, and scientific innovation would begin to shape our long-term trajectory. Let me be clear, our conviction the strength of our business fundamentals and strategic direction remains strong. As we close out the first quarter, we're reaffirming our full-year revenue guidance of between 560 million to 590 million dollars. We anticipate accelerating sales growth in the next three quarters, which will translate into significant operating leverage and keep us on track to achieve profitability by Q4 of this year. Before I turn the call over to Josh to discuss our Q1 performance, I want to share my excitement for the road ahead. Cell Life has a differentiated and high-potential portfolio, including multiple regional first or best-in-class assets that are poised to deliver significant long-term value. This includes pipeline of product opportunities like VivGuard and Povitacis, as well as other potential blockbusters like bimethylamide in gastric cancer, CAR-C in schizophrenia, and TT field in pancreatic cancer. We are confident in delivering our 2025 revenue targets and surpassing $2 billion by 2028 with strong momentum carrying well into the 2030s. Our original business is already commercially profitable with a clear growth runway. And we'll continue to add new assets with discipline and focus. At the same time, we've made bold investments to accelerate our global R&D pipeline. Our lead global asset, GL1310, is a potential first in pricing class DL3 ADC. We'll present updated phase one data in small cell lung cancer at ASCO in June and outline our broader development strategy across multiple indications, including a registration of trial that positions us for a potential FDA approval in 2027, a milestone that would elevate our position on the global stage. Beyond 1310, We're advancing our next wave of innovation. GL6201, our novel LRC15 ADC for solid tumors, and GL1503, the first in class L13, L31b specific for atopic dermatitis, are both expected to enter the clinics this year. further expanding our global oncology immunology pipeline. Looking ahead, we see clear drivers of margin expansion, increased scale with regard, efficient new launches that leverage our existing infrastructure, manufacturing localization, and the ramp up of high-value global assets. These efforts are building their lives into a profitable, high-growth business with global impact. We're just getting started, and I look forward to updating you on our progress throughout the year. Now, I turn the call over to Josh. Josh?