Zai Lab Limited (ZLAB) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 31, 2021
Document Information [Line Items]
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
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		68,893,502
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		96,408,743
Title of 12(b) Security	Ordinary Shares, par value $0.00006 per share

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,398,498	$ 442,116
Short-term investments	170,000	744,676
Accounts receivable	21,018	5,165
Inventories	12,494	13,144
Prepayments and other current assets	17,077	10,935
Total current assets	1,619,087	1,216,036
Restricted cash, non-current	743	743
Long term investments (including the fair value measured investment of $20,070 and nil as of September 30, 2021 and December 31, 2020, respectively)	20,801	1,279
Prepayments for equipment	1,129	274
Property and equipment, net	37,087	29,162
Operating lease right-of-use assets	15,514	17,701
Land use rights, net	7,749	7,908
Intangible assets, net	1,678	1,532
Long term deposits	901	862
Value added tax recoverable	23,390	22,141
Total assets	1,728,079	1,297,638
Current liabilities:
Accounts payable	51,406	62,641
Current operating lease liabilities	6,312	5,206
Other current liabilities	54,292	30,196
Total current liabilities	112,010	98,043
Deferred income	17,487	16,858
Non-current operating lease liabilities	10,652	13,392
Total liabilities	140,149	128,293
Commitments and contingencies
Shareholders' equity
Ordinary shares (par value of $0.00006 per share; 500,000,000 shares authorized, 95,273,589 and 87,811,026 shares issued and outstanding as of September 30,2021 and December 31, 2020, respectively)	6	5
Additional paid-in capital	2,812,830	1,897,467
Accumulated deficit	(1,206,249)	(713,603)
Accumulated other comprehensive loss	(15,124)	(14,524)
Treasury Stock	(3,533)
Total shareholders' equity	1,587,930	1,169,345
Total liabilities and shareholders' equity	$ 1,728,079	$ 1,297,638

Consolidated balance sheets (Pa

Consolidated balance sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 6	$ 1
Ordinary shares, par value	$ 0.00006	$ 0.00006
Ordinary shares, shares authorized	500,000,000	500,000,000
Ordinary shares, shares issued	95,273,589	87,811,026
Ordinary shares, shares outstanding	95,273,589	87,811,026
Treasury Stock, Shares	27,722
Investments, fair value disclosure	$ 20,070	$ 0

Consolidated statements of oper

Consolidated statements of operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 43,103	$ 14,651	$ 100,141	$ 33,864
Expenses:
Cost of sales	(12,162)	(4,934)	(30,535)	(9,914)
Research and development	(55,144)	(58,100)	(401,220)	(160,149)
Selling, general and administrative	(59,002)	(27,874)	(149,254)	(70,346)
Loss from operations	(83,205)	(76,257)	(480,868)	(206,545)
Interest income	713	866	1,171	3,748
Interest expenses		(43)		(157)
Other (expenses) income, net	(13,580)	11,958	(12,401)	11,267
Loss before income tax and share of loss from equity method investment	(96,072)	(63,476)	(492,098)	(191,687)
Income tax expense
Share of loss from equity method investment	(340)	(265)	(548)	(671)
Net loss	(96,412)	(63,741)	(492,646)	(192,358)
Net loss attributable to ordinary shareholders	$ (96,412)	$ (63,741)	$ (492,646)	$ (192,358)
Loss per share - basic and diluted	$ (1.01)	$ (0.84)	$ (5.34)	$ (2.59)
Weighted-average shares used in calculating net loss per ordinary share - basic and diluted	95,035,432	75,436,646	92,174,838	74,381,115

Consolidated statements of comp

Consolidated statements of comprehensive loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (96,412)	$ (63,741)	$ (492,646)	$ (192,358)
Other comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustments	1,741	(9,901)	(600)	(7,535)
Comprehensive loss	$ (94,671)	$ (73,642)	$ (493,246)	$ (199,893)

Consolidated statements of co_2

Consolidated statements of comprehensive loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Other comprehensive income, tax	$ 0	$ 0	$ 0	$ 0

Consolidated statements of shar

Consolidated statements of shareholders' equity - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
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
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
Issuance cost adjustment for secondary listing
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, 2019	294,660	$ 4	734,734	(444,698)	4,620
Balance, Shares at Dec. 31, 2019		68,237,247
Net loss	(192,358)
Foreign currency translation	(7,535)
Balance at Sep. 30, 2020	1,139,041	$ 5	1,779,007	(637,056)	(2,915)
Balance, Shares at Sep. 30, 2020		86,097,518
Balance at Mar. 31, 2020	537,588	$ 4	1,022,111	(492,686)	8,159
Balance, Shares at Mar. 31, 2020		74,666,725
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		36,000
Exercise of shares option	2,729	$ 0	2,729
Exercise of shares option, Shares		179,613
Issuance cost adjustment for follow-on public offering	(13)		(13)
Share-based compensation	6,964		6,964
Net loss	(80,629)			(80,629)
Foreign currency translation	(1,173)				(1,173)
Balance at Jun. 30, 2020	465,466	$ 4	1,031,791	(573,315)	6,986
Balance, Shares at Jun. 30, 2020		74,882,338
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		90,468
Exercise of shares option	1,008	$ 0	1,008
Exercise of shares option, Shares		560,662
Issuance cost adjustment for secondary listing	5,634
Issuance cost adjustment for follow-on public offering	(2)		(2)
Issuance of ordinary shares upon secondary listing, net of issuance cost	739,233	$ 1	739,232
Issuance of ordinary shares upon secondary listing, net of issuance cost, Shares		10,564,050
Share-based compensation	6,978		6,978
Net loss	(63,741)			(63,741)
Foreign currency translation	(9,901)				(9,901)
Balance at Sep. 30, 2020	1,139,041	$ 5	1,779,007	(637,056)	(2,915)
Balance, Shares at Sep. 30, 2020		86,097,518
Balance at Dec. 31, 2020	$ 1,169,345	$ 5	1,897,467	(713,603)	(14,524)
Balance, Shares at Dec. 31, 2020	87,811,026	87,811,026
Issuance of ordinary shares upon vesting of restricted shares		$ 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
Balance at Dec. 31, 2020	$ 1,169,345	$ 5	1,897,467	(713,603)	(14,524)
Balance, Shares at Dec. 31, 2020	87,811,026	87,811,026
Net loss	$ (492,646)
Foreign currency translation	(600)
Balance at Sep. 30, 2021	$ 1,587,930	$ 6	2,812,830	(1,206,249)	(15,124)	$ (3,533)
Balance, Shares at Sep. 30, 2021	95,273,589	95,273,589				(27,722)
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
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		32,100
Exercise of shares option	3,289	$ 0	3,289
Exercise of shares option, Shares		490,517
Receipt of employees' shares to satisfy tax withholding obligations related to share-based compensation						(6,086)
Receipt of employees' shares to satisfy tax withholding obligations related to share-based compensation	(924)					$ (924)
Issuance of ordinary shares upon follow-on public offering, net of issuance cost	817,996	$ 1	817,995
Issuance of ordinary shares upon follow-on public offering, net of issuance cost, Shares		5,716,400
Issuance cost adjustment for secondary listing
Share-based compensation	10,232		10,232
Net loss	(163,324)			(163,324)
Foreign currency translation	(5,241)				(5,241)
Balance at Jun. 30, 2021	1,671,698	$ 6	2,799,318	(1,109,837)	(16,865)	$ (924)
Balance, Shares at Jun. 30, 2021		94,758,189				(6,086)
Issuance of ordinary shares upon vesting of restricted shares	0	$ 0	0
Issuance of ordinary shares upon vesting of restricted shares, Shares		54,050
Exercise of shares option	2,916	$ 0	2,916
Exercise of shares option, Shares		461,350
Receipt of employees' shares to satisfy tax withholding obligations related to share-based compensation						(21,636)
Receipt of employees' shares to satisfy tax withholding obligations related to share-based compensation	(2,609)					$ (2,609)
Issuance cost adjustment for follow-on public offering	40		40
Share-based compensation	10,556		10,556
Net loss	(96,412)			(96,412)
Foreign currency translation	1,741				1,741
Balance at Sep. 30, 2021	$ 1,587,930	$ 6	$ 2,812,830	$ (1,206,249)	$ (15,124)	$ (3,533)
Balance, Shares at Sep. 30, 2021	95,273,589	95,273,589				(27,722)

Consolidated statements of sh_2

Consolidated statements of shareholders' equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Sep. 30, 2020	Mar. 31, 2020
Share issuance cost upon follow-on public offering	$ 879		$ 740
Issuance cost adjustment for secondary listing		$ 5,634

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net loss	$ (492,646)	$ (192,358)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for doubtful accounts	5	2
Inventory write-down	402
Depreciation and amortization expenses	4,612	3,253
Amortization of deferred income	(234)	(234)
Share-based compensation	28,106	20,405
Noncash research and development expenses	62,250
Share of loss from equity method investment	548	671
Loss from fair value changes of equity investment with readily determinable fair value	9,930	0
Loss on disposal of property and equipment	12	1
Noncash lease expenses	4,595	3,251
Changes in operating assets and liabilities:
Accounts receivable	(15,858)	(3,704)
Inventories	248	(3,631)
Prepayments and other current assets	(6,142)	(3,564)
Long term deposits	(39)	(474)
Value added tax recoverable	(1,249)	(6,845)
Accounts payable	(11,235)	5,217
Other current liabilities	23,429	(4,981)
Operating lease liabilities	(3,834)	(2,335)
Deferred income	863	13,606
Net cash used in operating activities	(396,237)	(171,720)
Cash flows from investing activities:
Purchases of short-term investments	(170,000)	(749,676)
Proceeds from maturity of short-term investment	743,902
Purchase of property and equipment	(11,920)	(4,835)
Purchase of intangible assets	(539)	(370)
Payment for investment in equity investee	(30,000)
Disposal of property and equipment	3
Net cash provided by (used in) investing activities	531,446	(754,881)
Cash flows from financing activities:
Repayment of short-term borrowings		(4,292)
Proceeds from exercises of stock options	6,907	4,083
Proceeds from issuance of ordinary shares upon public offerings	818,874	1,025,970
Payment of public offering costs	(1,836)	(1,275)
Employee taxes paid related to net share settlement of equity awards	(3,467)
Net cash provided by financing activities	820,478	1,024,486
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	695	2,062
Net increase in cash, cash equivalents and restricted cash	956,382	99,947
Cash, cash equivalents and restricted cash - beginning of period	442,859	76,442
Cash, cash equivalents and restricted cash - end of period	1,399,241	176,389
Supplemental disclosure on non-cash investing and financing activities:
Payables for purchase of property and equipment	1,797	2,334
Payables for intangible assets	24	21
Payables for public offering costs		4,909
Supplemental disclosure of cash flow information:
Cash and cash equivalents	1,398,498	175,879
Restricted cash, non-current	743	510
Total cash and cash equivalents and restricted cash	$ 1,399,241	176,389
Interest paid		$ 157

Organization and principal acti

Organization and principal activities	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 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 Group’s (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 Company 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, accrual of rebate, 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 (Note 15). Management bases the estimates on historical experience and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. (d) Long-term Long-term investments represent equity-method investments and equity investments with readily determinable fair values. The Group accounts for equity investment in entities with significant influence under equity-method accounting. Under this method, the Group’s pro rata share of income (loss) from investment is recognized in the consolidated statements of comprehensive income. Dividends received reduce the carrying amount of the investment. When the Group’s share of loss in an equity-method investee equals or exceeds its carrying value of the investment in that entity, the Group continues to report its share of equity method losses in the statements of comprehensive income to the extent and as an adjustment to the carrying amount of its other investments in the investee. Equity-method investment is reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other-than-temporary. In making this determination, factors are evaluated in determining whether a loss in value should be recognized. These include consideration of the intent and ability of the Group to hold investment and the ability of the investee to sustain an earnings capacity, justifying the carrying amount of the investment. Impairment losses are recognized in other expense when a decline in value is deemed to be other-than-temporary. Investments in equity securities that have readily determinable fair values (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are measured at fair value, with unrealized gains and losses from fair value changes recognized in other (expenses) income, net in the unaudited condensed consolidated statements of operations. (e) Fair value measurements The Group applies ASC topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and requires disclosures to be provided on fair value measurement. 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. The Group did not have any assets or liabilities that were measured at fair value on a recurring basis prior to 2021. As of September 30, 2021, information about inputs into the fair value measurement of the Group’s assets that are measured at a fair value on a recurring basis in periods subsequent to their initial recognition is as follows: Description Fair Value as of September 30, 2021 US$ Fair Value Measurement at Reporting for Identical Assets (Level 1) US$ Equity Investments with Readily Determinable Fair Value 20,070 20,070 Financial instruments of the Group primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, prepayments and other current assets, long-term investments, accounts payable and other current liabilities As of September 30, 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. (f) Recent accounting pronouncements Adopted Accounting Standards In December 2019, the Financial Accounting Standard Board (“FASB”) issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income taxes (g) 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	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	3. Cash and cash equivalents As of September 30, 2021 December 31, 2020 $ $ Cash at bank and in hand 1,097,430 441,283 Cash equivalents (note (i)) 301,068 833 1,398,498 442,116 Denominated in: US$ 762,209 297,813 RMB (note (ii)) 28,802 23,898 Hong Kong dollar (“HK$”) 607,323 119,695 Australian dollar (“A$”) 134 710 Taiwan dollar (“TW$”) 30 — 1,398,498 442,116 Note s (i) Cash equivalents represent short-term and highly liquid investments in a money market fund. (ii) 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	9 Months Ended
	Sep. 30, 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 September 30, 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	9 Months Ended
	Sep. 30, 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 one year. 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 remote risk of expected credit loss. Accordingly, no allowance for credit loss was recorded as of September 30, 2021 and December 31, 2020, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventories
Inventories	6. Inventories The Group’s inventory balance of $12,494 and $13,144 as of September 30, 2021 and December 31, 2020, respectively, mainly consisted of finished goods purchased from Tesaro Inc., now GlaxoSmithKline (GSK), for distribution in Hong Kong, and from NovoCure Limited (“NovoCure”) and Deciphera Pharmaceuticals, LLC (“Deciphera”) for distribution in Hong Kong and China, as well as finished goods and certain raw materials for ZEJULA commercialization in China. As of September 30, 2021 December 31, 2020 $ $ Finished goods 5,298 3,041 Raw materials 7,196 10,103 Inventories 12,494 13,144 The Group writes down inventory for any excess or obsolete inventories or when the Group believes that the net realizable value of inventories is less than the carrying value. During the three and nine months ended September 30, 2021, the Group recorded write-downs of $112 and $402, in cost of revenues, respectively. During the three and nine months ended September 30, 2020, the Group recorded reverses and write-downs of $7 and nil, in cost of revenues, respectively.

Long-term investments

Long-term investments	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Long-term investments	7. Long-term investments In June 2017, the Group entered into an agreement with three third-parties In July 2021, the Group made an equity investment in MacroGenics Inc. (“MacroGenics”), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer, in a private placement with total contributions of $30,000 and obtained 958,467 newly issued common shares of MacroGenics at $31.30 per share (see Note 15). The Group recorded this investment at acquisition cost and subsequently measured at fair value, with the changes in fair value recognized in the statement of operations. The Group recognized its fair value loss of $9,930 and $9,930 for the three and nine months ended September 30, 2021.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2021
Property and equipment, net
Property and equipment, net	8. Property and equipment, net Property and equipment consist of the following: As of September 30, December 31, 2020 $ $ Office equipment 802 430 Electronic equipment 3,771 2,646 Vehicle 217 143 Laboratory equipment 15,274 11,933 Manufacturing equipment 13,313 12,198 Leasehold improvements 9,909 9,641 Construction in progress 8,306 2,423 51,592 39,414 Less: accumulated depreciation (14,505 ) (10,252 ) Property and equipment, net 37,087 29,162 Depreciation expenses for the three and nine months ended September 30, 2021 were $1,510 and $4,257, respectively. Depreciation expenses for the three and nine months ended September 30, 2020 were $1,061 and $3,035, respectively.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue
Revenue	9. Revenue The Group’s revenue is primarily derived from the sale of ZEJULA, Optune and QINLOCK in China and Hong Kong. The table below presents the Group’s net product sales for the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Product revenue - gross 47,555 17,152 135,490 37,567 Less: Rebate and sales return (4,452 ) (2,501 ) (35,349 ) (3,703 ) Product revenue - net 43,103 14,651 100,141 33,864 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 sales rebates included nil and $22,009 compensation to distributors for those products previously sold at the price prior to the National Reimbursement Drug List (“NRDL”) implementation, due to the first-time inclusion of ZEJULA in the NRDL, for the three and nine months ended September 30, 2021. There was no such compensation for the three and nine months ended September 30, 2020. The following table disaggregates net revenue by product for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ ZEJULA 28,162 8,503 64,134 22,294 Optune 10,653 5,950 27,318 11,372 QINLOCK 4,288 198 8,689 198 Product revenue - net 43,103 14,651 100,141 33,864

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 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 September 30, 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	9 Months Ended
	Sep. 30, 2021
Other current liabilities
Other current liabilities	11. Other current liabilities Other current liabilities consist of the following: As of September 30, December 31, 2020 $ $ Payroll 18,926 13,694 Accrued professional service fee 3,607 3,128 Payables for purchase of property and equipment 1,797 788 Accrued rebate to distributors 10,803 7,067 Tax payable 10,989 952 Others (note (i)) 8,170 4,567 Total 54,292 30,196 Note: (i) Others are mainly payables to employees for exercising the share-based compensations, payables related to travel and business entertainment expenses.

Loss per share

Loss per share	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2021 2020 2021 2020 $ $ $ $ Numerator: Net loss attributable to ordinary shareholders (96,412 ) (63,741 ) (492,646 ) (192,358 ) Denominator: Weighted average number of ordinary shares- basic and diluted 95,035,432 75,436,646 92,174,838 74,381,115 Net loss per share - basic and diluted (1.01 ) (0.84 ) (5.34 ) (2.59 ) As a result of the Group’s net loss for the nine months ended September 30, 2021 and 2020, share options and non-vested As of September 30, 2021 September 30, 2020 Share options 8,180,157 9,093,582 Non-vested 636,619 597,850

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 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 September 30, 2021: Company Name Relationship with the Group MEDx (Suzhou) Translational Medicine Co., Ltd. Significant influence held by Samantha Du’s (Director, Chairwoman and Chief Executive Officer of the Company) immediate family For the three and nine months ended September 30, 2021, the Group incurred $96 and $303 in in research and development expense for the three and nine months ended September 30, 2020, respectively. All of the transactions are carried out with normal business terms and are on arms’ length basis.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 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 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 nine months ended September 30, 2020, the Group granted 1,059,431 share options to certain management, employees and individual advisors of the Group at the exercise price ranging from $44.94 to $82.50 per share under the 2017 Plan. These options granted have a contractual term of ten years and generally vest over a five For the nine months ended September 30, 2021, the Group granted 553,198 share options to certain management and employees of the Group at the exercise price ranging from $130.96 to $180.00 per share under the 2017 Plan. These options granted have a contractual term of ten years and generally vest over a five-year period, with 20% of the awards vesting beginning on the anniversary date one year after the grant date. The weighted-average grant-date fair value of the options granted in the nine months ended September 30, 2021 and 2020 were $82.21and $34.91 per share, respectively. The Group recorded compensation expense related to the options of $ 19,951 and $ 15,718 for the nine months ended September 30, 2021 and 2020, respectively, which were classified in the accompanying unaudited condensed consolidated statements of operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Selling, general and administrative 4,119 2,952 11,501 8,500 Research and development 3,056 2,411 8,450 7,218 Total 7,175 5,363 19,951 15,718 As of September 30, 2021, there was $ 93,248 of total unrecognized compensation expense related to unvested share options granted. That cost is expected to be recognized over a weighted-average period of 1.39 years which is determined based on the number of shares and unrecognized years. Non-vested restricted shares For the nine months ended September 30, 2020, 50,000 ordinary shares were authorized for grant to the independent directors. The restricted shares will vest and be released from the restrictions in full on the first anniversary from the date of the agreement. Upon termination of the independent directors’ service with the Group for any reason, any shares that are outstanding and not yet vested will be immediately forfeited. For the nine months ended September 30, 2020, 71,250 ordinary shares were authorized for grant to certain management. One fifth For the nine months ended September 30, 2021, 19,260 ordinary shares were authorized for grant to the independent directors. The restricted shares will vest and be released from the restrictions in full on the first anniversary from the date of the agreement. Upon termination of the independent directors’ service with the Group for any reason, any shares that are outstanding and not yet vested will be immediately forfeited. For the nine months ended September 30, 2021, 271,509 ordinary shares were authorized for grant to certain management. One fifth The Group measured the fair value of the non-vested As of September 30, 2021, there was $46,885 of total unrecognized compensation expense related to non-vested Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Selling, general and administrative 2,028 1,065 5,078 3,179 Research and development 1,353 550 3,077 1,508 Total 3,381 1,615 8,155 4,687

Licenses and collaborative arra

Licenses and collaborative arrangement	9 Months Ended
	Sep. 30, 2021
Licenses And Collaborative Arrangement [Abstract]
Licenses and collaborative arrangement	15. Licenses and collaborative arrangement The following is a description of the Group’s significant ongoing collaboration agreements for the three and nine months ended September 30, 2021. License and collaboration agreement with GSK In September 2016, the Group entered into a collaboration, development and license agreement with Tesaro, Inc, a company later acquired by GSK, pursuant to which it obtained an exclusive sublicense under certain patents and know-how know-how follow-on co-market Under the terms of the agreement, the Group made an upfront payment of $15,000 and one milestone payment of $1,000, and accrued one development milestone payment of $3,500 to GSK. On top of those, if the Group achieves other specified regulatory, development and commercialization milestones, the Group may be additionally required to pay further milestone payments up to $36,000 to GSK. In addition, if the Group successfully develops and commercializes the licensed products, the Group will pay GSK tiered royalties on the net sales of the licensed products, until the later of the expiration of the last-to-expire product-by-product region-by-region The Group has the right to terminate this agreement at any time by providing written notice of termination. License and collaboration agreements with MacroGenics In November 2018, the Group entered into a collaboration agreement with MacroGenics, pursuant to which it obtained an exclusive license under certain patents and know-how (MGD-013) pre-clinical Under the terms of the agreement, the Group paid an upfront license fee of $25,000 and two milestone payments in total of $4,000 to MacroGenics. The Group also agreed to pay certain development and regulatory-based milestone payments up to an aggregate of $136,000, and tiered royalties at percentage rates for net sales of Margetuximab, tebotelimab and TRIDENT molecule in the territory. The Group has the right to terminate this agreement at any time by providing written notice of termination to MacroGenics. In June 2021, the Group entered into a collaboration and license agreement with MacroGenics, pursuant to which the Group and MacroGenics made four collaboration programs involving up to four immuno-oncology molecules. The first collaboration program covers a lead research molecule that incorporates MacroGenics’ DART platform and binds CD3 and an undisclosed target that is expressed in multiple solid tumors. The second collaboration program will cover a target to be designated by MacroGenics. For both molecules, the Group received commercial rights in Greater China, Japan, and Korea and MacroGenics received commercial rights in all other territories. For the lead molecule, the Group receives an option upon reaching a predefined clinical milestone to convert the regional arrangement into a global 50/50 profit share. The Group also obtained exclusive, global licenses from MacroGenics to develop, manufacture and commercialize two additional molecules. For these four programs, each company will contribute intellectual property to generate either CD3- Under the terms of the agreement, the Group paid an upfront payment of $25,000 to MacroGenics. In addition, MacroGenics is also eligible to receive up to $1,386,000 in potential development, regulatory and commercial milestone payments for the four programs. If products from the collaboration are commercialized, MacroGenics would also receive royalties on annual net sales in the Group’s territories. Pursuant to the collaboration and license agreement, the Group also made an equity investment of $30,000 in MacroGenics’ common stock at $31.30 per share in J The Group has the right to terminate this agreement at any time by providing written notice of termination to MacroGenics. License and collaboration agreement with 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 Under the terms of the agreement, the Group paid Deciphera an upfront license fee of $20,000 and three milestone payments of $12,000. 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 The Group has the right to terminate this agreement at any time by providing written notice of termination to Deciphera. License agreements 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 payment of $25,000 and one milestone payment of $2,000, and accrued two milestone payments totaling $3,000 to Turning Point. Turning Point is also eligible to receive up to $146,000 in development, regulatory and sales milestones. Turning Point will also be eligible to receive certain tiered royalties (from mid-to-high 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, 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 low-twenties TPX-0022 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 Under the terms of the agreement, the Group made an upfront payment of $5,000 and a milestone low-twenties 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 of $20,000 to Cullinan. Cullinan is also eligible to receive up to $211,000 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 of $6,000 to Takeda. Takeda is also eligible to receive up to $481,500 in development, 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 568,182 ordinary shares of the Company to argenx with par value $0.00006 per share on the closing date of January 13, 2021. In determining the fair value of the ordinary shares at closing, the Company considered the closing price of the ordinary shares on the closing date and included a lack of marketability discount because the shares are subject to certain restrictions. The fair value of the shares on the closing date was determined to be $62,250 in the aggregate. The Group recorded this upfront payment in research and development expenses. In addition, the Group made a non-creditable, non-refundable mid-teen low-twenties Collaboration and license agreement with Mirati Therapeutics, Inc. (“Mirati”) In May 2021, the Group entered into a collaboration and license agreement with Mirati. The Group obtained the right to research, develop, manufacture and exclusively commercialize adagrasib in Greater China. The Group will support accelerated enrollment in key global, registration-enabling clinical trials of adagrasib in patients with cancer who have a KRASG12C mutation. Mirati has an option to co-commercialize Under the terms of the agreement, the Group paid an upfront payment of $65,000 to Mirati. Mirati is also eligible to receive up to $273,000 in development, regulatory and sales-based milestone payments. Mirati is also eligible to receive high-teen low-twenties The Group has the right to terminate this agreement at any time by providing written notice of termination to Mirati. Collaboration and license agreement with Schrödinger, Inc. (“Schrödinger”) In July Full details of the licenses and collaborative arrangements are included in our Annual Report on Form 10-K 10-Q. in future contingent milestone payments dependent 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. These milestone payments are subject to uncertainties and contingencies and may n ot

Restricted Net Assets

Restricted Net Assets	9 Months Ended
	Sep. 30, 2021
Restricted net assets
Restricted net assets	16. Restricted net assets The Group’s ability to pay dividends may depend on the Group receiving distributions of funds from its Chinese subsidiar ies ies ies In accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory reserves of at least 10% of its annual 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 subsidiaries were established as domestic invested enterprise and therefore are subject to the above-mentioned restrictions on distributable profits. During the three and nine months ended September 30, 2021 and 2020, no appropriation to statutory reserves was made because the Chinese subsidiar ies As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax ies are Foreign exchange and other regulation in China may further restrict the Group’s Chinese subsidiar ies paid-in

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies (a) Purchase commitments As of September 30, 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 $24,191 which is expected to be incurred within one year. (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 15).

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	18. Subsequent Event In November 2021, the Group and Blueprint Medicines Corporation (“Blueprint”) entered into a license and collaboration agreement, pursuant to which the Group obtained from Blueprint an exclusive license to develop, perform medical affairs for, manufacture and commercialize BLU-701 and BLU-945 in Greater China. Pursuant to the terms of the agreement, the Group will pay to Blueprint an upfront fee of $25,000 plus milestone payments of up to an aggregate of $590,000 upon the achievement of specified clinical, regulatory and sales milestones. Blueprint will also be eligible to receive certain royalties at tiered percentage rates ranging from the low to mid teens percent on annual net sales of licensed products in Greater China, subject to reduction under specified circumstances. In November 2021, the Group and Karuna Therapeutics, Inc (“Karuna”) ente r In October and November 2021, the Group granted 60,066 share options to certain management and employees of the Group at the exercise price from $102.75 to $104.42 per share under the 2017 Plan. These options granted have a contractual term of ten years and generally vest over a five-year period, with 20% of the awards vesting beginning on the anniversary date one year after the grant date. In November 2021, the Group granted 92,700 share options to certain management and employees of the Group at the exercise price of $104.42 per share under the 2017 Plan. These options granted have a contractual term of ten years and generally vest over a four-year period, with 25% of the awards vesting beginning on the anniversary date one year after the grant date. In October and November 2021, 41,415 ordinary shares were authorized for grant to certain management and employees of the Group. One In November 2021, 36,640 ordinary shares were authorized for grant to certain management and employees of the Group. One-fourth In October 2021, 7,345 ordinary shares were authorized for grant to independent directors of the Group. O ne-third of the restricted shares will vest and be released from the restrictions on each yearly anniversary from the date of the agreement. Upon termination of the certain directors’ service with the Group for any reason, any shares that are outstanding and not yet vested will be immediately forfeited.

Basis of presentation and con_2

Basis of presentation and consolidation and significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 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 Group’s
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 Company 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, accrual of rebate, 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 (Note 15). Management bases the estimates on historical experience and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.
Long-term investments	(d) Long-term Long-term investments represent equity-method investments and equity investments with readily determinable fair values. The Group accounts for equity investment in entities with significant influence under equity-method accounting. Under this method, the Group’s pro rata share of income (loss) from investment is recognized in the consolidated statements of comprehensive income. Dividends received reduce the carrying amount of the investment. When the Group’s share of loss in an equity-method investee equals or exceeds its carrying value of the investment in that entity, the Group continues to report its share of equity method losses in the statements of comprehensive income to the extent and as an adjustment to the carrying amount of its other investments in the investee. Equity-method investment is reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other-than-temporary. In making this determination, factors are evaluated in determining whether a loss in value should be recognized. These include consideration of the intent and ability of the Group to hold investment and the ability of the investee to sustain an earnings capacity, justifying the carrying amount of the investment. Impairment losses are recognized in other expense when a decline in value is deemed to be other-than-temporary. Investments in equity securities that have readily determinable fair values (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are measured at fair value, with unrealized gains and losses from fair value changes recognized in other (expenses) income, net in the unaudited condensed consolidated statements of operations.
Fair value measurements	(e) Fair value measurements The Group applies ASC topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, in measuring fair value. ASC 820 defines fair value, establishes a framework for measuring fair value and requires disclosures to be provided on fair value measurement. 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. The Group did not have any assets or liabilities that were measured at fair value on a recurring basis prior to 2021. As of September 30, 2021, information about inputs into the fair value measurement of the Group’s assets that are measured at a fair value on a recurring basis in periods subsequent to their initial recognition is as follows: Description Fair Value as of September 30, 2021 US$ Fair Value Measurement at Reporting for Identical Assets (Level 1) US$ Equity Investments with Readily Determinable Fair Value 20,070 20,070 Financial instruments of the Group primarily include cash, cash equivalents and restricted cash, short-term investments, accounts receivable, prepayments and other current assets, long-term investments, accounts payable and other current liabilities As of September 30, 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	(f) Recent accounting pronouncements Adopted Accounting Standards In December 2019, the Financial Accounting Standard Board (“FASB”) issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income taxes
Significant accounting policies	(g) 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

Basis of presentation and con_3

Basis of presentation and consolidation and significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of assets and liabilities that are measured at fair value on a recurring basis	As of September 30, 2021, information about inputs into the fair value measurement of the Group’s assets that are measured at a fair value on a recurring basis in periods subsequent to their initial recognition is as follows: Description Fair Value as of September 30, 2021 US$ Fair Value Measurement at Reporting for Identical Assets (Level 1) US$ Equity Investments with Readily Determinable Fair Value 20,070 20,070

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Summary of cash and cash equivalents	As of September 30, 2021 December 31, 2020 $ $ Cash at bank and in hand 1,097,430 441,283 Cash equivalents (note (i)) 301,068 833 1,398,498 442,116 Denominated in: US$ 762,209 297,813 RMB (note (ii)) 28,802 23,898 Hong Kong dollar (“HK$”) 607,323 119,695 Australian dollar (“A$”) 134 710 Taiwan dollar (“TW$”) 30 — 1,398,498 442,116 Note s (i) Cash equivalents represent short-term and highly liquid investments in a money market fund. (ii) 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)	9 Months Ended
	Sep. 30, 2021
Inventories
Schedule of inventory	As of September 30, 2021 December 31, 2020 $ $ Finished goods 5,298 3,041 Raw materials 7,196 10,103 Inventories 12,494 13,144

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2021
Property and equipment, net
Schedule of property and equipment	Property and equipment consist of the following: As of September 30, December 31, 2020 $ $ Office equipment 802 430 Electronic equipment 3,771 2,646 Vehicle 217 143 Laboratory equipment 15,274 11,933 Manufacturing equipment 13,313 12,198 Leasehold improvements 9,909 9,641 Construction in progress 8,306 2,423 51,592 39,414 Less: accumulated depreciation (14,505 ) (10,252 ) Property and equipment, net 37,087 29,162

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue
Schedule of net product sales	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Product revenue - gross 47,555 17,152 135,490 37,567 Less: Rebate and sales return (4,452 ) (2,501 ) (35,349 ) (3,703 ) Product revenue - net 43,103 14,651 100,141 33,864
Schedule of disaggregation of net revenue	The following table disaggregates net revenue by product for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ ZEJULA 28,162 8,503 64,134 22,294 Optune 10,653 5,950 27,318 11,372 QINLOCK 4,288 198 8,689 198 Product revenue - net 43,103 14,651 100,141 33,864

Other current liabilities (Tabl

Other current liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Other current liabilities
Schedule of other current liabilities	Other current liabilities consist of the following: As of September 30, December 31, 2020 $ $ Payroll 18,926 13,694 Accrued professional service fee 3,607 3,128 Payables for purchase of property and equipment 1,797 788 Accrued rebate to distributors 10,803 7,067 Tax payable 10,989 952 Others (note (i)) 8,170 4,567 Total 54,292 30,196 Note: (i) Others are mainly payables to employees for exercising the share-based compensations, payables related to travel and business entertainment expenses.

Loss per share (Tables)

Loss per share (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2021 2020 2021 2020 $ $ $ $ Numerator: Net loss attributable to ordinary shareholders (96,412 ) (63,741 ) (492,646 ) (192,358 ) Denominator: Weighted average number of ordinary shares- basic and diluted 95,035,432 75,436,646 92,174,838 74,381,115 Net loss per share - basic and diluted (1.01 ) (0.84 ) (5.34 ) (2.59 )
Summary of anti-dilutive excluded from the calculation of diluted loss per share	As a result of the Group’s net loss for the nine months ended September 30, 2021 and 2020, share options and non-vested As of September 30, 2021 September 30, 2020 Share options 8,180,157 9,093,582 Non-vested 636,619 597,850

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2021: Company Name Relationship with the Group MEDx (Suzhou) Translational Medicine Co., Ltd. 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)	9 Months Ended
	Sep. 30, 2021
Allocation of compensation expense related to options	The weighted-average grant-date fair value of the options granted in the nine months ended September 30, 2021 and 2020 were $82.21and $34.91 per share, respectively. The Group recorded compensation expense related to the options of $ 19,951 and $ 15,718 for the nine months ended September 30, 2021 and 2020, respectively, which were classified in the accompanying unaudited condensed consolidated statements of operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Selling, general and administrative 4,119 2,952 11,501 8,500 Research and development 3,056 2,411 8,450 7,218 Total 7,175 5,363 19,951 15,718
Allocation of compensation expense related to restricted shares	As of September 30, 2021, there was $46,885 of total unrecognized compensation expense related to non-vested Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 $ $ $ $ Selling, general and administrative 2,028 1,065 5,078 3,179 Research and development 1,353 550 3,077 1,508 Total 3,381 1,615 8,155 4,687

Basis of presentation and con_4

Basis of presentation and consolidation and significant accounting policies - Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Investments with Readily Determinable Fair Value	$ 20,070
Fair value input level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Investments with Readily Determinable Fair Value	$ 20,070

Cash and cash equivalents - Sum

Cash and cash equivalents - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Cash And Cash Equivalents [Line Items]
Cash at bank and in hand	$ 1,097,430	$ 441,283
Cash equivalents	301,068	833
Cash and cash equivalents	1,398,498	442,116	$ 175,879
Denominated in US$
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	762,209	297,813
Denominated in RMB
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	28,802	23,898
Denominated in Hong Kong dollar
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	607,323	119,695
Denominated in Australia dollar
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	134	$ 710
Denominated in Taiwan dollar
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 30

Restricted cash, non-current -

Restricted cash, non-current - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Restricted Cash [Abstract]
Restricted cash, non-current	$ 743	$ 743	$ 510

Short-term investments (Details

Short-term investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Investments, allowance for credit losses	$ 0	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Inventory [Line Items]
Inventory write-down	$ 112	$ 7	$ 402	$ 0
Inventory balance	$ 12,494		$ 12,494		$ 13,144
Inventory reverses value		$ 7		$ 0

Inventories - Schedule of inven

Inventories - Schedule of inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventories
Finished goods	$ 5,298	$ 3,041
Raw materials	7,196	10,103
Inventories	$ 12,494	$ 13,144

Long-term investments - Additio

Long-term investments - Additional Information (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	Jul. 31, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020	Jun. 30, 2017CNY (¥)item
Equity And Cost Method Investments
Share of gain (loss) from equity method investment		$ (340)	$ (265)	$ (548)	$ (671)
JING
Equity And Cost Method Investments
Share of gain (loss) from equity method investment		340	$ 265	1,011	$ 671
Equity method investment, gain on disposal		$ 0		$ 463
Number of third-parties | item							3
Capital contribution commitment | ¥							¥ 26,250
Percentage of equity interest		18.00%		18.00%		20.00%
MacroGenics
Equity And Cost Method Investments
Share of gain (loss) from equity method investment		$ 9,930		$ 9,930
Capital contribution commitment	$ 30,000
Stock Issued During Period, Shares, Acquisitions | shares	958,467
Issue price per share | $ / shares	$ 31.30

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property Plant And Equipment
Property and equipment, gross	$ 51,592	$ 39,414
Less: accumulated depreciation	(14,505)	(10,252)
Property and equipment, net	37,087	29,162
Office Equipment
Property Plant And Equipment
Property and equipment, gross	802	430
Electronic Equipment
Property Plant And Equipment
Property and equipment, gross	3,771	2,646
Vehicle
Property Plant And Equipment
Property and equipment, gross	217	143
Laboratory Equipment
Property Plant And Equipment
Property and equipment, gross	15,274	11,933
Manufacturing Equipment
Property Plant And Equipment
Property and equipment, gross	13,313	12,198
Leasehold Improvements
Property Plant And Equipment
Property and equipment, gross	9,909	9,641
Construction in Progress
Property Plant And Equipment
Property and equipment, gross	$ 8,306	$ 2,423

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property and equipment, net
Depreciation expenses	$ 1,510	$ 1,061	$ 4,257	$ 3,035

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Amount of compensation to distributors included in sales rebates	$ 0	$ 0	$ 22,009	$ 0

Revenue - (Details)

Revenue - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Product revenue - gross	$ 47,555	$ 17,152	$ 135,490	$ 37,567
Less: Rebate and sales return	(4,452)	(2,501)	(35,349)	(3,703)
Product revenue - net	$ 43,103	$ 14,651	$ 100,141	$ 33,864

Revenue - Disaggregation of net

Revenue - Disaggregation of net revenue by product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue
Product revenue - net	$ 43,103	$ 14,651	$ 100,141	$ 33,864
ZEJULA
Disaggregation of Revenue
Product revenue - net	28,162	8,503	64,134	22,294
Optune
Disaggregation of Revenue
Product revenue - net	10,653	5,950	27,318	11,372
QINLOCK
Disaggregation of Revenue
Product revenue - net	$ 4,288	$ 198	$ 8,689	$ 198

Income Tax - Additional Informa

Income Tax - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 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	Sep. 30, 2021	Dec. 31, 2020
Other current liabilities
Payroll	$ 18,926	$ 13,694
Accrued professional service fee	3,607	3,128
Payables for purchase of property and equipment	1,797	788
Accrued rebate to distributors	10,803	7,067
Tax payable	10,989	952
Others	8,170	4,567
Total	$ 54,292	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss attributable to ordinary shareholders	$ (96,412)	$ (63,741)	$ (492,646)	$ (192,358)
Denominator:
Weighted average number of ordinary shares- basic and diluted	95,035,432	75,436,646	92,174,838	74,381,115
Loss per share - basic and diluted	$ (1.01)	$ (0.84)	$ (5.34)	$ (2.59)

Loss per share - Summary of Ant

Loss per share - Summary of Anti-Dilutive Shares Excluded from Calculation of Diluted Loss Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of diluted loss per share	8,180,157	9,093,582
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	636,619	597,850

Related party transactions - Sc

Related party transactions - Schedule of Major Related Party and Relationship (Details)	9 Months Ended
	Sep. 30, 2021
MEDx (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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Research and development | MEDx (Suzhou) Translational Medicine Co., Ltd.
Related Party Transaction [Line Items]
Transactions between its related party	$ 96	$ 233	$ 303	$ 417

Share-based compensation - Sha

Share-based compensation - Share Options - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Oct. 31, 2021	Mar. 05, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized	7,369,767		7,369,767		7,345	4,140,945
Weighted-average grant-date fair value of options granted			$ 82.21	$ 34.91
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 7,175	$ 5,363	$ 19,951	$ 15,718
Unrecognized compensation expense related to unvested share options granted	$ 93,248		$ 93,248
Recognized over a weighted-average period			1 year 4 months 20 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			553,198	1,059,431
Exercise price of options			$ 180
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				$ 82.50
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 7,175	$ 5,363	$ 19,951	$ 15,718
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	4,119	2,952	11,501	8,500
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 3,056	$ 2,411	$ 8,450	$ 7,218

Share-based compensation - Non-

Share-based compensation - Non-vested Restricted Shares - Additional Information (Details) - Non-Vested Restricted Shares - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation	$ 46,885		$ 46,885
Compensation expense	$ 3,381	$ 1,615	$ 8,155	$ 4,687
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			271,509	71,250
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 3,381	$ 1,615	$ 8,155	$ 4,687
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	2,028	1,065	5,078	3,179
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Compensation expense	$ 1,353	$ 550	$ 3,077	$ 1,508

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, 2017Investors	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)MilestoneMoleculesprograms$ / shares	Sep. 30, 2022	Jul. 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
Number of molecules | Molecules							2
Number of programs | programs							4
Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future milestone payments to be made upon achievement							$ 4,878,738
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 | Investors					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						$ 12,000
Number of milestone payments | Milestone				3
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
GSK
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payment of upfront fees							15,000
Milestone payment accrued							$ 3,500
Number of milestone payments Accrued | Milestone							1
Number of milestone payments | Milestone							1
Milestone payments							$ 1,000
Additional milestone payments							36,000,000
ZLAB Turning Point Therapeutics Inc
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Milestone payment accrued							$ 3,000
Number of milestone payments Accrued | Milestone							2
Number of milestone payments | Milestone							1
Milestone payments							$ 2,000
Mirati Therapeutics Inc
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payment of upfront fees for license agreement, accrued							65,000
Future milestone payments to be made upon achievement							$ 273,000
Mirati Therapeutics Inc | Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of tiered royalties on annual net sales							20.00%
Mirati Therapeutics Inc | Minimum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of tiered royalties on annual net sales								0.00%
MacroGenics
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Payment of upfront fees							$ 25,000
Payment of upfront fees for license agreement, accrued							$ 25,000
Number of milestone payments | Milestone							2
Milestone payments							$ 4,000
Additional milestone payments							136,000
Future milestone payments to be made upon achievement							$ 1,386,000
MacroGenics | Collaboration and License Agreement [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Equity Method Investments									$ 30,000
Issue price per share | $ / shares									$ 31.30
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							146,000
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	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Restricted net assets
Minimum required percentage of statutory reserves	10.00%	10.00%
Percentage of statutory reserves to respective registered capital	50.00%	50.00%
Statutory reserves	$ 0	$ 0
Restricted amount by subsidiaries	$ 306,010	$ 306,010	$ 255,858

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2022USD ($)
Property and Equipment
Loss Contingencies [Line Items]
Purchase obligation	$ 24,191

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	1 Months Ended		2 Months Ended
	Nov. 30, 2021	Oct. 31, 2021	Nov. 30, 2021	Sep. 30, 2021	Mar. 05, 2015
Subsequent Event [Line Items]
Number of ordinary shares authorized for grant		7,345		7,369,767	4,140,945
Vesting rights		One-third of the restricted shares will vest and be released from the restrictions on each yearly anniversary from the date of the agreement. Upon termination of the certain directors’ service with the Group for any reason, any shares that are outstanding and not yet vested will be immediately forfeited.
Two Thousand Seventeen Equity Incentive Plan | Management and Employees
Subsequent Event [Line Items]
Options granted contractual term	4 years		5 years
Subsequent Event | Blueprint Medicines Corporation
Subsequent Event [Line Items]
Milestone payments upfront fee	$ 25,000
Milestone payable upon achievement of specified clinical regulatory sales milestone	590,000		$ 590,000
Subsequent Event | Karuna Therapeutics, Inc
Subsequent Event [Line Items]
Milestone payments upfront fee	35,000
Milestone payable upon achievement of specified clinical regulatory sales milestone	$ 152,000		$ 152,000
Subsequent Event | Management and Employees
Subsequent Event [Line Items]
Number of shares authorized for grant	36,640	41,415	36,640
Subsequent Event | Management and Employees | Restricted Shares
Subsequent Event [Line Items]
Shares vested	0.25		0.2
Subsequent Event | Two Thousand Seventeen Equity Incentive Plan | Management and Employees
Subsequent Event [Line Items]
Options granted	92,700		60,066
Options granted contractual term	10 years		10 years
Exercise price of options	$ 104.42
Subsequent Event | Two Thousand Seventeen Equity Incentive Plan | Management and Employees | Minimum
Subsequent Event [Line Items]
Exercise price of options			$ 102.75
Subsequent Event | Two Thousand Seventeen Equity Incentive Plan | Management and Employees | Maximum
Subsequent Event [Line Items]
Exercise price of options			$ 104.42
Subsequent Event | Two Thousand Seventeen Equity Incentive Plan | Management and Employees | Vesting anniversary year after the grant date
Subsequent Event [Line Items]
Vesting percentage	25.00%		20.00%