Zai Lab Ltd. 9688

Big Pharma firms have cut license deals worth tens of billions of dollars for cancer drugs invented in China.

Zai Lab stock presents a challenging valuation picture for investors, with a share price that has risen in the shorter term but sits against a five year record of heavy value loss and only a mixed read from broader valuation checks. The share price has fallen 80.9% over the past five years, which points to a significant destruction of shareholder value over a full market cycle. Future revenue growth from its biopharmaceutical portfolio can support the current valuation, while ongoing...