FAST NEWS: Zai Lab’s Loss Narrows as Core Products Post Strong Growth

The latest: Biotech company Zai Lab Ltd. (9688.HK; ZLAB.US) on Wednesday reported a $137.9 million net loss in the second quarter, 15.4% narrower than its $163 million loss a year earlier. Looking up: The company’s ovarian cancer drug, Zejula, posted a 45.7% increase in revenue to $34.1 million, while its Optune electric-field therapy for cancer also posted a 22.1% increase to $11.6 million. Those combined to help the company’s total revenue jump 30.6% to $48.2 million in the second quarter. Take Note: The company recorded a foreign exchange loss of $42.2 million…

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Autohome Weathers Covid Storm, Revs Up for Speedier Second Half

The Internet auto-sales platform’s revenue grew 17.7% sequentially in the second quarter, showing resilience in the face of China’s pandemic disruptions Key Takeaways: Autohome’s revenue rose strongly on a sequential basis in the second quarter despite a year-on-year decline, sparking a rally for its stock Company should benefit in the second half from new vehicle launches and government measures to stimulate vehicle consumption By Lau Ming What is it about an internet auto platform whose profits declined in the second quarter that has still managed to win over investors? For…

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AMTD Digital Becomes Unexpected Meme Stock. And Surprise – It’s Already Crashing

The company’s shares soared as much as 21,426% in the weeks after its IPO last month, making it Wall Street’s newest meme stock Key Takeaways: Shares in digital financial services incubator AMTD Digital spiked to as high as $1,679 following their July 15 trading debut from an IPO price of $7.80 The dramatic surge is reminiscent of last year’s saga involving GameStop, whose stock skyrocketed, fueled by retail investors looking to punish short sellers By Warren Yang Shares of newly listed financial services incubator AMTD Digital Inc. (HKD.US) have gone…

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