Zai Lab Limited (ZLAB) 10-Q 10 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	ZAI LAB LIMITED
Entity Central Index Key	0001704292
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-38205
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	4560 Jinke Road
Entity Address, Address Line Two	Bldg. 1, Fourth Floor Pudong
Entity Address, City or Town	Shanghai
Entity Address, Country	CN
Entity Address, Postal Zip Code	201210
Document Quarterly Report	true
Document Transition Report	false
Entity Tax Identification Number	98-1144595
Entity Small Business	false
Local Phone Number	6163 2588
City Area Code	86 21
American Depositary Shares
Document Information [Line Items]
Trading Symbol	ZLAB
Entity Common Stock, Shares Outstanding		65,326,281
Title of 12(b) Security	American Depositary Shares, each representing 1 Ordinary Share, par value $0.00006 per share
Security Exchange Name	NASDAQ
Ordinary Shares
Document Information [Line Items]
Trading Symbol	9688
Entity Common Stock, Shares Outstanding		94,908,743
Title of 12(b) Security	Ordinary Shares, par value $0.00006 per share

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,013,420	$ 442,116
Short-term investments	0	744,676
Accounts receivable (net of allowance of $2 and $1 as of March 31, 2021 and 2020, respectively)	8,815	5,165
Inventories	12,629	13,144
Prepayments and other current assets	14,321	10,935
Total current assets	1,049,185	1,216,036
Restricted cash, non-current	743	743
Investments in equity investees	1,473	1,279
Prepayments for equipment	244	274
Property and equipment, net	29,016	29,162
Operating lease right-of-use assets	16,652	17,701
Land use rights, net	7,784	7,908
Intangible assets, net	1,585	1,532
Long term deposits	910	862
Value added tax recoverable	23,698	22,141
Total assets	1,131,290	1,297,638
Current liabilities:
Accounts payable	41,415	62,641
Current operating lease liabilities	5,602	5,206
Other current liabilities	45,639	30,196
Total current liabilities	92,656	98,043
Deferred income	16,657	16,858
Non-current operating lease liabilities	12,307	13,392
Total liabilities	121,620	128,293
Commitments and contingencies (Note 18)
Shareholders' equity
Ordinary shares (par value of $0.00006 per share; 500,000,000 shares authorized, 88,519,172 and 74,666,725 shares issued and outstanding as of March 31, 2021 and 2020, respectively)	5	5
Additional paid-in capital	1,967,802	1,897,467
Accumulated deficit	(946,513)	(713,603)
Accumulated other comprehensive loss	(11,624)	(14,524)
Total shareholders' equity	1,009,670	1,169,345
Total liabilities and shareholders' equity	$ 1,131,290	$ 1,297,638

Consolidated balance sheets (Pa

Consolidated balance sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 2	$ 1
Ordinary shares, par value	$ 0.00006	$ 0.00006
Ordinary shares, shares authorized	500,000,000	500,000,000
Ordinary shares, shares issued	88,519,172	74,666,725
Ordinary shares, shares outstanding	88,519,172	74,666,725

Consolidated statements of oper

Consolidated statements of operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 20,103	$ 8,218
Expenses:
Cost of sales	(7,505)	(2,084)
Research and development	(203,852)	(33,742)
Selling, general and administrative	(35,838)	(18,714)
Loss from operations	(227,092)	(46,322)
Interest income	214	1,655
Interest expenses		(59)
Other expense, net	(6,227)	(3,125)
Loss before income tax and share of gain (loss) from equity method investment	(233,105)	(47,851)
Income tax expense
Share of gain (loss) from equity method investment	195	(137)
Net loss	(232,910)	(47,988)
Net loss attributable to ordinary shareholders	$ (232,910)	$ (47,988)
Loss per share - basic and diluted	$ (2.64)	$ (0.66)
Weighted-average shares used in calculating net loss per ordinary share - basic and diluted	88,374,928	72,956,538

Consolidated statements of comp

Consolidated statements of comprehensive loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (232,910)	$ (47,988)
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustments	2,900	3,539
Comprehensive loss	$ (230,010)	$ (44,449)

Consolidated statements of co_2

Consolidated statements of comprehensive loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Other comprehensive income, tax	$ 0	$ 0

Consolidated statements of shar

Consolidated statements of shareholders' (deficit) equity - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income
Balance at Dec. 31, 2019	$ 294,660	$ 4	$ 734,734	$ (444,698)	$ 4,620
Balance, Shares at Dec. 31, 2019		68,237,247
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		80,200
Exercise of shares option	346	$ 0	346
Exercise of shares option, Shares		49,278
Issuance of ordinary shares upon follow-on public offering, net of issuance cost	280,568	$ 0	280,568
Issuance of ordinary shares upon follow-on public offering, net of issuance cost, Shares		6,300,000
Share-based compensation	6,463		6,463
Net loss	(47,988)			(47,988)
Foreign currency translation	3,539				3,539
Balance at Mar. 31, 2020	537,588	$ 4	1,022,111	(492,686)	8,159
Balance, Shares at Mar. 31, 2020		74,666,725
Balance at Dec. 31, 2020	$ 1,169,345	$ 5	1,897,467	(713,603)	(14,524)
Balance, Shares at Dec. 31, 2020	74,666,725	87,811,026
Issuance of ordinary shares upon vesting of restricted shares	$ 0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		81,600
Exercise of shares option	702	$ 0	702
Exercise of shares option, Shares		58,364
Issuance of ordinary shares in connection with collaboration and license arrangement	62,250	$ 0	62,250
Issuance of ordinary shares in connection with collaboration and license arrangement, Shares		568,182
Issuance cost adjustment for secondary listing	65		65
Share-based compensation	7,318		7,318
Net loss	(232,910)			(232,910)
Foreign currency translation	2,900				2,900
Balance at Mar. 31, 2021	$ 1,009,670	$ 5	$ 1,967,802	$ (946,513)	$ (11,624)
Balance, Shares at Mar. 31, 2021	88,519,172	88,519,172

Consolidated statements of sh_2

Consolidated statements of shareholders' (deficit) equity (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Share issuance cost upon follow-on public offering	$ 740

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net loss	$ (232,910)	$ (47,988)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for doubtful accounts	1	1
Inventory write-down	14
Depreciation and amortization expenses	1,448	1,070
Amortization of deferred income	(78)	(78)
Share-based compensation	7,318	6,463
Noncash research and development expenses(Note 16)	62,250
Share of (gain) loss from equity method investment	(195)	137
Loss on disposal of property and equipment	4
Noncash lease expenses	1,322	1,062
Changes in operating assets and liabilities:
Accounts receivable	(3,651)	(296)
Inventories	502	(45)
Prepayments and other current assets	(3,386)	(1,375)
Long term deposits	(47)	(349)
Value added tax recoverable	(1,558)	(1,156)
Accounts payable	(21,226)	4,495
Other current liabilities	21,707	(1,408)
Operating lease liabilities	(893)	(663)
Deferred income	(122)	289
Net cash used in operating activities	(169,500)	(39,841)
Cash flows from investing activities:
Proceeds from maturity of short-term investments	743,902	50,000
Purchase of property and equipment	(1,683)	(1,043)
Purchase of intangible assets	(214)	(5)
Net cash used in investing activities	742,005	48,952
Cash flows from financing activities:
Repayment of short-term borrowings		(1,430)
Proceeds from exercises of stock options	702	346
Proceeds from issuance of ordinary shares upon public offerings		281,295
Payment of public offering costs	(973)	(727)
Net cash (used in) provided by financing activities	(271)	279,484
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(930)	(947)
Net increase in cash, cash equivalents and restricted cash	571,304	287,648
Cash, cash equivalents and restricted cash - beginning of period	442,859	76,442
Cash, cash equivalents and restricted cash - end of period	1,014,163	364,090
Supplemental disclosure on non-cash investing and financing activities:
Payables for purchase of property and equipment	439	280
Payables for intangible assets	26	11
Payables for public offering costs	26
Supplemental disclosure of cash flow information:
Total cash and cash equivalents and restricted cash	$ 1,014,163	364,090
Interest paid		$ 67

Organization and principal acti

Organization and principal activities	3 Months Ended
	Mar. 31, 2021
Organization and principal activities
Organization and Principal Activities	1. Organization and principal activities Zai Lab Limited (the “Company”) was incorporated on March 28, 2013 in the Cayman Islands as an exempted company with limited liability under the Companies Law of the Cayman Islands. The Company and its subsidiaries (collectively referred to as the “Group”) are focused on developing and commercializing therapies that address medical conditions with unmet medical needs including, in particular, oncology, autoimmune disorders and infectious diseases. The Group’s principal operations and geographic markets are in mainland China (hereinafter referred to as “China”), Hong Kong, Macau and Taiwan (hereinafter collectively referred to as “Greater China”). The Group has a substantial presence in Greater China and the United States.

Basis of presentation and conso

Basis of presentation and consolidation and significant accounting policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of presentation and consolidation and significant accounting policies	2. Basis of presentation and consolidation and significant accounting policies (a) Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q S-X. 10-K (b) Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the Group and its subsidiaries are eliminated upon consolidation. (c) Use of estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period. Areas where management uses subjective judgment include, but are not limited to, estimating the useful lives of long-lived assets, estimating the current expected credit losses for financial assets, assessing the impairment of long-lived assets, discount rate of operating lease liabilities, revenue recognition, allocation of the research and development service expenses to the appropriate financial reporting period based on the progress of the research and development projects, share-based compensation expenses, recoverability of deferred tax assets and a lack of marketability discount of the ordinary shares issued in connection with collaboration and license arrangement (d) Fair value measurements The Group applies ASC topic 820 (“ASC 820”), Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial instruments of the Group primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, prepayments and other current assets, accounts payable and other payables. As of March 31, 2021 and December 31, 2020, the carrying values of cash and cash equivalents, short-term investments, accounts receivable, prepayments and other current assets, accounts payable and other payable approximated their fair values due to the short-term maturity of these instruments, and the carrying value of restricted cash approximates its fair value based on the nature of the assessment of the ability to recover these amounts. (e) Recent accounting pronouncements Adopted Accounting Standards In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income taxes (f) Significant accounting policies For a more complete discussion of the Company’s significant accounting policies and other information, the unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K

Cash and cash equivalents

Cash and cash equivalents	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	3. Cash and cash equivalents As of March 31, December 31, $ $ Cash at bank and in hand 1,012,587 441,283 Cash equivalents 833 833 1,013,420 442,116 Denominated in: US$ 186,078 297,813 RMB (note (i)) 37,732 23,898 Hong Kong dollar (“HK$”) 789,029 119,695 Australian dollar (“A$”) 581 710 1,013,420 442,116 Note: (i) Certain cash and bank balances denominated in RMB were deposited with banks in China. The conversion of these RMB denominated balances into foreign currencies is subject to the rules and regulations of foreign exchange control promulgated by the government of the People’s Republic of China (“PRC”).

Restricted cash, non-current

Restricted cash, non-current	3 Months Ended
	Mar. 31, 2021
Restricted Cash [Abstract]
Restricted cash, non-current	4. Restricted cash, non-current The Group’s restricted cash balance of $743 and $743 as of March 31, 2021 and December 31, 2020, respectively, was long-term bank deposits held as collateral for issuance of letters of credit. These deposits will be released when the related letters of credit are settled by the Group.

Short-term investments

Short-term investments	3 Months Ended
	Mar. 31, 2021
Short-term investments
Short-term investments	5. Short-term investments Short-term investments are primarily comprised of time deposits with original maturities between three months and As of March 31, 2021, the Group held no short-term investment. As of December 31, 2020, the Group’s short-term investments consisted entirely of short-term held to maturity debt instruments with high credit ratings, which were determined to have no risk of expected credit loss. Accordingly allowance for credit loss was recorded as of December 31, 2020.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventories
Inventories	6. Inventories The Group’s inventory balance of $12,629 and $13,144 as of March 31, 2021 and December 31, 2020, respectively, mainly consisted of finished goods purchased from Tesaro Inc., now GlaxoSmithKline (GSK), and NovoCure Limited (“NovoCure”) for distribution in Hong Kong, as well as finished goods, work in process and certain raw materials for ZEJULA commercialization in China. As of March 31, 2021 December 31, 2020 $ $ Finished goods 2,703 3,041 Raw materials 9,588 10,103 Work in process 338 — Inventories 12,629 13,144 The Group write-down inventory for any excess or obsolete inventories or when the Group believe that the net realizable value of inventories is less than the carrying value. During the three months ended March 31, 2021 and 2020, the Group recorded write-downs of $43 and $nil, respectively, in cost of revenues.

Investments in Equity Investees

Investments in Equity Investees	3 Months Ended
	Mar. 31, 2021
Investments in equity investees
Investments in equity investees	7. Investments in equity investees In June 2017, the Group entered into an agreement with three third-parties to launch JING Medicine Technology (Shanghai) Ltd. (“JING”), an entity which provides services for product discovery and development, consultation and transfer of pharmaceutical technology. The capital contribution by the Group was RMB26,250 in cash, which was paid by the Group in 2017 and 2018, representing 20% and 18% of the equity interest of JING as of December 31, 2020 and March 31, 2021 respectively. The Group accounts for this investment using the equity method of accounting due to the fact that the Group can exercise significant influence on the investee. The Group recorded its gain on deemed disposal in this investee of

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2021
Property and equipment, net
Property and equipment, net	8. Property and equipment, net Property and equipment consist of the following: As of March 31, 2021 December 31, 2020 $ $ Office equipment 428 430 Electronic equipment 2,876 2,646 Vehicle 194 143 Laboratory equipment 12,357 11,933 Manufacturing equipment 12,116 12,198 Leasehold improvements 9,642 9,641 Construction in progress 2,915 2,423 40,528 39,414 Less: accumulated depreciation (11,512 ) (10,252 ) Property and equipment, net 29,016 29,162 Depreciation expenses for the three months ended March 31, 2021 and 2020 were $1,340 and $1,006, respectively.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue
Revenue	9. Revenue The Group’s revenue is primarily derived from the sale of ZEJULA and Optune in China and Hong Kong. The table below presents the Group’s net product sales for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, 2021 2020 $ $ Product revenue - gross 46,555 8,937 Less: Rebate (26,452 ) (719 ) Product revenue - net 20,103 8,218 Sales rebates are offered to distributors in China and the amounts are recorded as a reduction of revenue. Estimated rebates are determined based on contracted rates, sales volumes and level of distributor inventories. The following table disaggregates net revenue by product for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 $ $ ZEJULA 12,606 6,345 Optune 7,130 1,873 Others 367 — Total product revenue - net 20,103 8,218

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2021
Income tax
Income tax	10. Income Tax No provision for income taxes has been required to be accrued because the Company and all of its subsidiaries are in cumulative loss positions for all the periods presented. The Company recorded a full valuation allowance against deferred tax assets of all its consolidated entities because all entities were in a cumulative loss position as of March 31, 2021 and December 31, 2020. No unrecognized tax benefits and related interest and penalties were recorded in any of the periods presented.

Other current liabilities

Other current liabilities	3 Months Ended
	Mar. 31, 2021
Other current liabilities
Other current liabilities	11. Other current liabilities Other current liabilities consist of the following: As of March 31, 2021 December 31, 2020 $ $ Payroll 7,694 13,694 Professional service fee 3,274 3,128 Payables for purchase of property and equipment 439 788 Advance from customers 3,280 — Accrued rebate to distributors 23,166 7,067 Others (note (i)) 7,786 5,519 Total 45,639 30,196 Note: (i) Others are mainly payables to employees for exercising the share-based compensations, tax payables, payables for purchase of intangible assets, and payables related to travel and business entertainment expenses and conference fee .

Loss per share

Loss per share	3 Months Ended
	Mar. 31, 2021
Loss per share
Loss per share	12. Loss per share Basic and diluted net loss per share for each of the period presented are calculated as follows: Three Months Ended March 31, 2021 2020 Numerator: Net loss attributable to ordinary shareholders (232,910 ) (47,988 ) Denominator: Weighted average number of ordinary shares- basic and diluted 88,374,928 72,956,538 Net loss per share-basic and diluted (2.64 ) (0.66 ) As a result of the Group’s net loss for the three months ended March 31, 2021 and 2020, share options and non-vested As of March 31, March 31, 2020 Share options 8,693,274 9,903,396 Non-vested 480,010 725,068

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related party transactions
Related party transactions	13. Related party transactions The table below sets forth the major related party and the relationship with the Group as of March 31, 2021: Company Name Relationship with the Group MEDx (Suzhou) Translational Medicine Co., Ltd. (Formerly known as Qiagen (Suzhou) translational Significant influence held by Samantha Du’s (Director, Chairwoman and Chief Executive Officer of the Company) immediate family

Share-based compensation

Share-based compensation	3 Months Ended
	Mar. 31, 2021
Share-based compensation
Share-based compensation	14. Share-based compensation Share options On March 5, 2015, the Board of Directors of the Company approved an Equity Incentive Plan (the “2015 Plan”) which is administered by the Board of Directors. Under the 2015 Plan, the Board of Directors may grant options to purchase ordinary shares to management including officers, directors, employees and individual advisors who render services to the Group to purchase an aggregate of no more than 4,140,945 ordinary shares of the Group (“Option Pool”). Subsequently, the Board of Directors approved the increase in the Option Pool to 7,369,767 ordinary shares. In connection with the completion of the initial public offering (the “IPO”), the Board of Directors has approved the 2017 Equity Incentive Plan (the “2017 Plan”) and all equity-based awards subsequent to the IPO would be granted under the 2017 Plan. For the three months ended March 31, 2020 ten years five three For the three months ended March 31, price of ten years five The weighted-average grant-date fair value of the options granted in the three months ended March 31, accompanying unaudited condensed Three Months Ended March 31, 2021 2020 $ $ Selling, general and administrative 3,259 2,744 Research and development 2,290 2,177 Total 5,549 4,921 As of March 31, 2021, there was $67,009 of total unrecognized compensation expense related to unvested share options granted. That cost is expected to be recognized over a weighted-average period of 1.41 years which is determined based on the number of shares and unrecognized years. Non-vested For the three months ended March 31, For the three months ended March 31, One fifth For the three months ended March 31, For the three months ended March 31, One fifth with the Group for any reason, any shares that are outstanding and not yet vested will be immediately forfeited. The Group measured the fair value of the non-vested . As of March 31, 2021, there was $17,469 of total unrecognized compensation expense related to non-vested of $ accompanying unaudited condensed Three Months Ended March 31, 2021 2020 $ $ Selling, general and administrative 1,211 1,068 Research and development 558 474 Total 1,769 1,542

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	15. Accumulated other comprehensive income (loss) The movement of accumulated other comprehensive income (loss) is as follows: Foreign currency translation adjustments $ Balance as of December 31, 2020 (14,524 ) Other comprehensive income 2,900 Balance as of March 31, 2021 (11,624 )

Licenses and collaborative arra

Licenses and collaborative arrangement	3 Months Ended
	Mar. 31, 2021
Licenses And Collaborative Arrangement [Abstract]
Licenses and collaborative arrangement	16. Licenses and collaborative arrangement The following is a description of the Group’s significant ongoing collaboration agreements for the three months ended March 31, 2021. License and collaboration agreement with Deciphera Pharmaceuticals, LLC (“Deciphera”) In June 2019, the Group entered into a license agreement with Deciphera, pursuant to which it obtained an exclusive license under certain patents and know-how of Deciphera to develop and commercialize products containing ripretinib in the field of the prevention, prophylaxis, treatment, cure or amelioration of any disease or medical condition in humans in Greater China. Under the terms of the agreement, the Group paid Deciphera an upfront license fee of $20,000 and two milestone payments of $7,000, and accrued for a milestone payments of $5,000. The Group also agreed to pay certain additional development, regulatory and commercial milestone payments up to an aggregate of $173,000, and certain tiered royalties (from low-to-high teens on a percentage basis and subject to certain reductions) based on the net sales of the licensed products in the territory. The Group has the right to terminate this agreement at any time by providing written notice of termination to Deciphera. License agreement with Turning Point Therapeutics Inc (“Turning Point”) In July 2020, the Group entered into an exclusive license agreement with Turning Point pursuant to which Turning Point exclusively licensed to the Group the rights to develop and commercialize products containing repotrectinib as an active ingredient in all human therapeutic indications, in Greater China. Under the terms of the agreements, the Group paid an upfront to Turning Point. Turning Point is also eligible to receive up to in development, regulatory and sales milestones. Turning Point will also be eligible to receive certain tiered royalties (from mid-to-high teens on a percentage basis and subject to certain reductions) based on annual net sales of repotrectinib in Greater China. The Group has the right to terminate this agreement at any time by providing written notice of termination to Turning Point. In January 2021, the Group entered into a license agreement with Turning Point, which expanded their collaboration. Under the terms of the new agreement, the Group obtained exclusive rights to develop and commercialize TPX-0022, Turning Point’s MET, SRC and CSF1R inhibitor, in Greater China. The Group paid an upfront license fee in the amount of $25,000 to Turning Point. The Group also agreed to pay certain development, regulatory and commercial milestone payments up to an aggregate of $336,000. Turning Point will also be eligible to receive certain tiered royalties (from mid-teens to low-twenties on a percentage basis and subject to certain reductions) based on annual net sales of TPX-0022 in Greater China. In addition, Turning Point will have the right of first negotiation to develop and commercialize an oncology product candidate discovered by the Group. License and collaboration agreement with Five Prime Therapeutics, Inc. (“Five Prime”) In December 2017, the Group entered into a license and collaboration agreement with Five Prime (a company later acquired by Amgen Inc.), pursuant to which it obtained an exclusive license under certain patents and know-how of Five Prime to develop and commercialize products containing Five Prime’s proprietary afucosylated FGFR2b antibody known as bemarituzumab (FPA144) as an active ingredient in the treatment or prevention of any disease or condition in humans in Greater China. Under the terms of the agreement, the Group made an upfront payment of and a milestone to Five Prime. Additionally, the Group also agreed to pay further development and regulatory milestone payments of up to an aggregate to Five Prime and certain tiered royalties (from high-teens to low-twenties on a percentage basis and subject to certain reductions) based on the number of patients the Group enrolls in the bemarituzumab study. The Group has the right to terminate this agreement at any time by providing written notice of termination to Five Prime. License agreement with Cullinan Pearl Corp. (“Cullinan”) In December 2020, the Group entered into a license agreement with Cullinan, a subsidiary of Cullinan Management, Inc., formerly Cullinan Oncology, LLC, pursuant to which it obtained an exclusive license under certain patents and know-how CLN-081 . Under the terms of the agreement, the Group paid an upfront payment Cullinan. Cullinan is also eligible to receive up in development, regulatory and sales-based milestone payments. Cullinan is also eligible to receive certain tiered royalties (from high-single-digit to low-teen CLN-081 The Group has the right to terminate this agreement at any time by providing written notice of termination to Cullinan. License agreement with Takeda Pharmaceutical Company Limited (“Takeda”) In December 2020, the Group entered into an exclusive license agreement with Takeda. Under the terms of the license agreement, Takeda exclusively licensed to the Group the right to exploit products in the licensed field during the term. Under the terms of the agreement, the Group paid an upfront payment o Takeda. Takeda is also eligible to receive up regulatory and sales-based milestone payments. Takeda is also eligible to receive certain tiered royalties (from high-single-digit to low-teen The Group has the right to terminate this agreement at any time by providing written notice of termination to Takeda. Collaboration and license agreement with argenx BV (“argenx”) In January 2021, the Group entered into a collaboration and license agreement with argenx. The Group received an exclusive license to develop and commercialize products containing argenx’s proprietary antibody fragment, known as efgartigimod, in Greater China. The Group is responsible for the development of the licensed compound and licensed product, and will have the right to commercialize such licensed product in the territory. Pursuant to the collaboration and license agreement, a share issuance agreement was entered into between the Group and argenx. As the upfront payment to argenx, the Group issued In addition, the Group made a non-creditable, non-refundable upon the first regulatory approval of a licensed product by the U.S. Food and Drug Administration for myasthenia gravis and tiered royalties (from mid-teen to low-twenties on a percentage basis and subject to certain reductions) based on annual net sales of all licensed product in the territory. Full details of the licenses and collaborative arrangements are included in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on March 1, 2021. As noted above, the Group has entered into various license and collaboration agreements with third party licensors to develop and commercialize product candidates. Based on the terms of these agreements the Group is contingently obligated to make additional material payments upon the achievement of certain contractually defined milestones. Based on management’s evaluation of the progress of each project noted above, the licensors will be eligible to receive from the Group up to an aggregate of approximately $ in future milestone payments upon the achievement of contractually specified development milestones, such as regulatory approval for the product candidates, which may be before the Group has commercialized the product or received any revenue from sales of such product candidate, which may never occur .

Restricted Net Assets

Restricted Net Assets	3 Months Ended
	Mar. 31, 2021
Restricted net assets
Restricted net assets	17. Restricted net assets The Group’s ability to pay dividends may depend on the Group receiving distributions of funds from its Chinese subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiary only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the unaudited condensed consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s PRC subsidiary. In accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory reserves of at least after-tax of its respective registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide discretionary surplus reserve, at the discretion of the Board of Directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Group’s Chinese subsidiary was established as domestic invested enterprise and therefore is subject to the above-mentioned restrictions on distributable profits. During the three months ended March 31, 2021 and 2020, no appropriation to statutory reserves was made because the Chinese subsidiary had substantial losses during such periods. As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax Foreign exchange and other regulation in China may further restrict the Group’s Chinese subsidiary from transferring funds to the Group in the form of dividends, loans and advances. As of March 31, 2021 and December 31, 2020, amounts restricted are the paid-in capital of the Group’s Chinese subsidiaries, which amounted to , .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies (a) Purchase commitments As of March 31, 2021, the Group’s commitments related to purchase of property and equipment contracted but not yet reflected in the unaudited condensed consolidated financial statement were $16,991 and $5,507 which are expected to be incurred within one year and within one to two years, respectively. (b) Contingencies The Group is a party to or assignee of license and collaboration agreements that may require it to make future payments relating to milestone fees and royalties on future sales of licensed products (Note 16).

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Event	19. Subsequent Event In April 2021, the Company closed an underwritten public offering of 4,776,000 American depositary shares (“ADSs”) at a price of $150.00 per ADS and 224,000 ordinary shares at a price of HK$1,164.20 per ordinary share. In addition, the underwriters fully exercised their option to purchase an additional 716,400 ADSs at the public offering price. Total proceeds, net of underwriting fees and offering expenses, were approximately $818,052. In April 2021, the Group granted 479,363 share options to certain management and employees of the Group at the exercise price of five-year In April 2021, 188,150 ordinary shares were authorized for grant to certain management and employees of t he Group. One-fifth of the re

Basis of presentation and con_2

Basis of presentation and consolidation and significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q S-X. 10-K
Principles of consolidation	(b) Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the Group and its subsidiaries are eliminated upon consolidation.
Use of estimates	(c) Use of estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period. Areas where management uses subjective judgment include, but are not limited to, estimating the useful lives of long-lived assets, estimating the current expected credit losses for financial assets, assessing the impairment of long-lived assets, discount rate of operating lease liabilities, revenue recognition, allocation of the research and development service expenses to the appropriate financial reporting period based on the progress of the research and development projects, share-based compensation expenses, recoverability of deferred tax assets and a lack of marketability discount of the ordinary shares issued in connection with collaboration and license arrangement
Fair value measurements	(d) Fair value measurements The Group applies ASC topic 820 (“ASC 820”), Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. Financial instruments of the Group primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, prepayments and other current assets, accounts payable and other payables. As of March 31, 2021 and December 31, 2020, the carrying values of cash and cash equivalents, short-term investments, accounts receivable, prepayments and other current assets, accounts payable and other payable approximated their fair values due to the short-term maturity of these instruments, and the carrying value of restricted cash approximates its fair value based on the nature of the assessment of the ability to recover these amounts.
Recent accounting pronouncements	(e) Recent accounting pronouncements Adopted Accounting Standards In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income taxes
Significant accounting policies	(f) Significant accounting policies For a more complete discussion of the Company’s significant accounting policies and other information, the unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Summary of cash and cash equivalents	As of March 31, December 31, $ $ Cash at bank and in hand 1,012,587 441,283 Cash equivalents 833 833 1,013,420 442,116 Denominated in: US$ 186,078 297,813 RMB (note (i)) 37,732 23,898 Hong Kong dollar (“HK$”) 789,029 119,695 Australian dollar (“A$”) 581 710 1,013,420 442,116 Note: (i) Certain cash and bank balances denominated in RMB were deposited with banks in China. The conversion of these RMB denominated balances into foreign currencies is subject to the rules and regulations of foreign exchange control promulgated by the government of the People’s Republic of China (“PRC”).

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventories
Schedule of inventory	As of March 31, 2021 December 31, 2020 $ $ Finished goods 2,703 3,041 Raw materials 9,588 10,103 Work in process 338 — Inventories 12,629 13,144

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2021
Property and equipment, net
Schedule of property and equipment	Property and equipment consist of the following: As of March 31, 2021 December 31, 2020 $ $ Office equipment 428 430 Electronic equipment 2,876 2,646 Vehicle 194 143 Laboratory equipment 12,357 11,933 Manufacturing equipment 12,116 12,198 Leasehold improvements 9,642 9,641 Construction in progress 2,915 2,423 40,528 39,414 Less: accumulated depreciation (11,512 ) (10,252 ) Property and equipment, net 29,016 29,162

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue
Schedule of net product sales	Three Months Ended March 31, 2021 2020 $ $ Product revenue - gross 46,555 8,937 Less: Rebate (26,452 ) (719 ) Product revenue - net 20,103 8,218
Schedule of disaggregation of net revenue	Three Months Ended March 31, 2021 2020 $ $ ZEJULA 12,606 6,345 Optune 7,130 1,873 Others 367 — Total product revenue - net 20,103 8,218

Other current liabilities (Tabl

Other current liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Other current liabilities
Schedule of other current liabilities	Other current liabilities consist of the following: As of March 31, 2021 December 31, 2020 $ $ Payroll 7,694 13,694 Professional service fee 3,274 3,128 Payables for purchase of property and equipment 439 788 Advance from customers 3,280 — Accrued rebate to distributors 23,166 7,067 Others (note (i)) 7,786 5,519 Total 45,639 30,196 Note: (i) Others are mainly payables to employees for exercising the share-based compensations, tax payables, payables for purchase of intangible assets, and payables related to travel and business entertainment expenses and conference fee .

Loss per share (Tables)

Loss per share (Tables)	3 Months Ended
	Mar. 31, 2021
Loss per share
Summary of basic and diluted net loss per share	Basic and diluted net loss per share for each of the period presented are calculated as follows: Three Months Ended March 31, 2021 2020 Numerator: Net loss attributable to ordinary shareholders (232,910 ) (47,988 ) Denominator: Weighted average number of ordinary shares- basic and diluted 88,374,928 72,956,538 Net loss per share-basic and diluted (2.64 ) (0.66 )
Summary of anti-dilutive excluded from the calculation of diluted loss per share	As a result of the Group’s net loss for the three months ended March 31, 2021 and 2020, share options and non-vested As of March 31, March 31, 2020 Share options 8,693,274 9,903,396 Non-vested 480,010 725,068

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2021
Related party transactions
Schedule of Major Related Party and Relationship	The table below sets forth the major related party and the relationship with the Group as of March 31, 2021: Company Name Relationship with the Group MEDx (Suzhou) Translational Medicine Co., Ltd. (Formerly known as Qiagen (Suzhou) translational Significant influence held by Samantha Du’s (Director, Chairwoman and Chief Executive Officer of the Company) immediate family

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Options [Member]
Allocation of compensation expense related to options	The weighted-average grant-date fair value of the options granted in the three months ended March 31, accompanying unaudited condensed Three Months Ended March 31, 2021 2020 $ $ Selling, general and administrative 3,259 2,744 Research and development 2,290 2,177 Total 5,549 4,921
Restricted Shares [Member]
Allocation of compensation expense related to restricted shares	As of March 31, 2021, there was $17,469 of total unrecognized compensation expense related to non-vested of $ accompanying unaudited condensed Three Months Ended March 31, 2021 2020 $ $ Selling, general and administrative 1,211 1,068 Research and development 558 474 Total 1,769 1,542

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Accumulated Other Comprehensive (Loss) Income	The movement of accumulated other comprehensive income (loss) is as follows: Foreign currency translation adjustments $ Balance as of December 31, 2020 (14,524 ) Other comprehensive income 2,900 Balance as of March 31, 2021 (11,624 )

Cash and cash equivalents - Sum

Cash and cash equivalents - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Cash And Cash Equivalents [Line Items]
Cash at bank and in hand	$ 1,012,587	$ 441,283
Cash equivalents	833	833
Cash and cash equivalents	1,013,420	442,116	$ 363,580
Denominated in US$
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	186,078	297,813
Denominated in RMB
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	37,732	23,898
Denominated in Hong Kong dollar
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	789,029	119,695
Denominated in Australia dollar
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 581	$ 710

Restricted cash, non-current -

Restricted cash, non-current - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Restricted Cash [Abstract]
Restricted cash, non-current	$ 743	$ 743	$ 510

Short-term investments (Details

Short-term investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Short-term investments	$ 0	$ 744,676
Investments, allowance for credit losses		$ 0
Maturities of Time Deposits, Description	time deposits with original maturities between three months and one year
Minimum
Schedule Of Available For Sale Securities [Line Items]
Time deposits, Maturity period	3 months
Maximum
Schedule Of Available For Sale Securities [Line Items]
Time deposits, Maturity period	1 year

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Inventory [Line Items]
Inventory write-down	$ 43	$ 0
Inventory balance	$ 12,629		$ 13,144

Inventories - Schedule of inven

Inventories - Schedule of inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventories
Finished goods	$ 2,703	$ 3,041
Raw materials	9,588	10,103
Work in process	338	0
Inventories	$ 12,629	$ 13,144

Investments in Equity Investe_2

Investments in Equity Investees - Additional Information (Details) ¥ in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020	Jun. 30, 2017CNY (¥)item
Equity And Cost Method Investments
Share of gain (loss) from equity method investment	$ 195	$ (137)
JING
Equity And Cost Method Investments
Share of gain (loss) from equity method investment	268	$ 137
Equity method investment, gain on disposal	$ 463
Number of third-parties | item				3
Capital contribution commitment | ¥				¥ 26,250
Percentage of equity interest	18.00%		20.00%

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property Plant And Equipment
Property and equipment, gross	$ 40,528	$ 39,414
Less: accumulated depreciation	(11,512)	(10,252)
Property and equipment, net	29,016	29,162
Office Equipment
Property Plant And Equipment
Property and equipment, gross	428	430
Electronic Equipment
Property Plant And Equipment
Property and equipment, gross	2,876	2,646
Vehicle
Property Plant And Equipment
Property and equipment, gross	194	143
Laboratory Equipment
Property Plant And Equipment
Property and equipment, gross	12,357	11,933
Manufacturing Equipment
Property Plant And Equipment
Property and equipment, gross	12,116	12,198
Leasehold Improvements
Property Plant And Equipment
Property and equipment, gross	9,642	9,641
Construction in Progress
Property Plant And Equipment
Property and equipment, gross	$ 2,915	$ 2,423

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property and equipment, net
Depreciation expenses	$ 1,340	$ 1,006

Revenue - (Details)

Revenue - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Product revenue - gross	$ 46,555	$ 8,937
Less: Rebate	(26,452)	(719)
Product revenue - net	$ 20,103	$ 8,218

Revenue - Disaggregation of net

Revenue - Disaggregation of net revenue by product (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue
Total product revenue - net	$ 20,103	$ 8,218
ZEJULA
Disaggregation of Revenue
Total product revenue - net	12,606	6,345
Optune
Disaggregation of Revenue
Total product revenue - net	7,130	$ 1,873
Other
Disaggregation of Revenue
Total product revenue - net	$ 367

Income Tax - Additional Informa

Income Tax - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Unrecognized tax benefits, interest and penalties	$ 0	$ 0

Other current liabilities - Sch

Other current liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other current liabilities
Payroll	$ 7,694	$ 13,694
Professional service fee	3,274	3,128
Payables for purchase of property and equipment	439	788
Advance from customers	3,280
Accrued rebate to distributors	23,166	7,067
Others	7,786	5,519
Total	$ 45,639	$ 30,196

Loss per share - Summary of Bas

Loss per share - Summary of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss attributable to ordinary shareholders	$ (232,910)	$ (47,988)
Denominator:
Weighted average number of ordinary shares- basic and diluted	88,374,928	72,956,538
Net loss per share-basic and diluted	$ (2.64)	$ (0.66)

Loss per share - Summary of Ant

Loss per share - Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted loss per share	8,693,274	9,903,396
Non-Vested Restricted Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted loss per share	480,010	725,068

Related party transactions - Sc

Related party transactions - Schedule of Major Related Party and Relationship (Details)	3 Months Ended
	Mar. 31, 2021
MEDx (Suzhou) Translational Medicine Co., Ltd. (Formerly known as Qiagen (Suzhou) translational medicine Co., Ltd)
Related Party Transaction [Line Items]
Relationship with the Group	Significant influence held by Samantha Du’s (Director, Chairwoman and Chief Executive Officer of the Company) immediate family

Related party transactions - Ad

Related party transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Research and development | MEDx (Suzhou) Translational Medicine Co., Ltd. (Formerly known as Qiagen (Suzhou) translational medicine Co., Ltd)
Related Party Transaction [Line Items]
Transactions between its related party	$ 103	$ 55

Share-based compensation - Sha

Share-based compensation - Share Options - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 05, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized	7,369,767		4,140,945
Weighted-average grant-date fair value of options granted	$ 162.02	$ 48.68
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 5,549	$ 4,921
Unrecognized compensation expense related to unvested share options granted	$ 67,009
Recognized over a weighted-average period	1 year 4 months 28 days
Management, Employees and Individual Advisors | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	15,100	842,500
Exercise price of options	$ 162.02
Options granted contractual term	10 years	10 years
Vesting period	5 years
Management, Employees and Individual Advisors | Vesting anniversary year after the grant date | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option vesting percentage	20.00%
Management, Employees and Individual Advisors | Minimum | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of options		$ 44.94
Vesting period		3 years
Management, Employees and Individual Advisors | Minimum | Vesting anniversary year after the grant date | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option vesting percentage		20.00%
Management, Employees and Individual Advisors | Maximum | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of options		$ 51.48
Vesting period		5 years
Management, Employees and Individual Advisors | Maximum | Vesting anniversary year after the grant date | Two Thousand Seventeen Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option vesting percentage		33.30%

Share-based compensation - Allo

Share-based compensation - Allocation of Compensation Expense Related to Option (Details) - Stock Options - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 5,549	$ 4,921
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	3,259	2,744
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 2,290	$ 2,177

Share-based compensation - Non-

Share-based compensation - Non-vested Restricted Shares - Additional Information (Details) - Non-Vested Restricted Shares - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation	$ 17,469
Compensation expense	$ 1,769	$ 1,542
Independent Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	19,260	50,000
Management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	3,100	12,000
Management | Each yearly anniversary from the date of the agreement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option vesting percentage	20.00%	20.00%

Share-based compensation - Al_2

Share-based compensation - Allocation of Compensation Expense Related to Restricted Shares (Details) - Non-Vested Restricted Shares - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 1,769	$ 1,542
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	1,211	1,068
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 558	$ 474

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Summary of Accumulated Other Comprehensive (Loss) Income (Details) - Foreign Currency Translation Adjustments $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	$ (14,524)
Other comprehensive income	2,900
Balance	$ (11,624)

Licenses and collaborative ar_2

Licenses and collaborative arrangement (Details) $ / shares in Units, $ in Thousands	Jan. 13, 2021$ / sharesshares	Jan. 31, 2021USD ($)	Dec. 31, 2020$ / shares	Jun. 30, 2019Milestone	Dec. 31, 2017Milestone	Mar. 31, 2021USD ($)$ / shares
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Common stock par value | $ / shares			$ 0.00006			$ 0.00006
Issuance of ordinary shares in connection with collaboration and license arrangement						$ 62,250
Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future milestone payments to be made upon achievement						2,871,396
Five Prime
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date					2017-12
Payment of upfront fees						5,000
Number of milestone payments | Milestone					1
Milestone payments						2,000
Five Prime | Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Additional milestone payments						37,000
Deciphera Pharmaceuticals LLC
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date				2019-06
Payment of upfront fees						20,000
Milestone payment accrued						5,000
Number of milestone payments | Milestone				2
Milestone payments						7,000
Deciphera Pharmaceuticals LLC | Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Additional milestone payments						173,000
Argenx BV
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date		2021-01
Development cost-sharing payment						75,000
Issuance of ordinary shares in connection with collaboration and license arrangement, Shares | shares	568,182
Common stock par value | $ / shares	$ 0.00006
Issuance of ordinary shares in connection with collaboration and license arrangement						62,250
Future cash payment						$ 25,000
Turning Point Therapeutics Inc
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date		2021-01				2020-07
Payment of upfront fees		$ 25,000				$ 25,000
Turning Point Therapeutics Inc | Potential Development Regulatory and Sales Based Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Additional milestone payments		$ 336,000
Future milestone payments to be made upon achievement						151,000
Cullinan Pearl Corp
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date			2020-12
Payment of upfront fees						20,000
Cullinan Pearl Corp | Potential Development Regulatory and Sales Based Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future milestone payments to be made upon achievement						211,000
Takeda Pharmaceutical Company Limited
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License agreement date			2020-12
Payment of upfront fees						6,000
Takeda Pharmaceutical Company Limited | Potential Development Regulatory and Sales Based Milestone
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future milestone payments to be made upon achievement						$ 481,500

Restricted Net Assets (Details)

Restricted Net Assets (Details) - PRC - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Restricted net assets
Minimum required percentage of statutory reserves	10.00%
Percentage of statutory reserves to respective registered capital	50.00%
Statutory reserves	$ 0	$ 0
Restricted amount by subsidiaries	$ 306,010		$ 205,858

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property and Equipment
Loss Contingencies [Line Items]
Purchase obligation	$ 5,507	$ 16,991

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event $ / shares in Units, $ in Thousands	1 Months Ended
	Apr. 30, 2021USD ($)$ / sharesshares	Apr. 30, 2021$ / sharesshares
Subsequent Event [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized	188,150	188,150
Two Thousand Seventeen Equity Incentive Plan | Management and Employees
Subsequent Event [Line Items]
Options granted	479,363
Options granted contractual term	10 years
Exercise price of options | $ / shares	$ 130.96
Vesting percentage	20.00%
Two Thousand Seventeen Equity Incentive Plan | Management and Employees | Maximum
Subsequent Event [Line Items]
Vesting period	5 years
Common Stock
Subsequent Event [Line Items]
Ordinary shares issued	224,000
Sale of stock price per share | $ / shares		$ 1,164.20
American Depositary Shares
Subsequent Event [Line Items]
Ordinary shares issued	4,776,000
Sale of stock price per share | $ / shares	$ 150
Proceeds from issuance of ordinary shares upon public offerings | $	$ 818,052
Over Allotment Option | American Depositary Shares
Subsequent Event [Line Items]
Ordinary shares issued	716,400