Zai Lab Ltd (09688) shares climbed more than 6% in early trading on Wednesday. As of writing, the stock was up 5.97% at HK$20.60, with turnover reaching HK$59.68 million.

On August 31, the company registered a global Phase III clinical trial on Clinicaltrials.gov for its investigational DLL3-targeting antibody-drug conjugate (ADC), ZL-1310, combined with a PD-L1 antibody as first-line treatment for extensive-stage small cell lung cancer (ES-SCLC). The trial plans to enroll approximately 530 patients with previously untreated ES-SCLC, with primary completion expected by June 2030.

A recent research note from CSC Financial highlighted that the company's internally developed assets are entering a stage of clinical value validation, with core pipeline programs anticipated to deliver a dense series of data readouts and key development milestones within the year. Notable catalysts in the second half of 2026 include: disclosure of data from the combination therapy of Zoci (ZL-1310, DLL3 ADC) in first-line small cell lung cancer (1L SCLC), and advancement of registrational development in both 1L SCLC and extrapulmonary neuroendocrine carcinoma (ep NEC); along with the first-in-human data for ZL-1503 (IL-13 x IL-31Rα bispecific antibody), among others.