Zai Lab Q3 revenue $108.2M, product sales down 7% YoY but up 2% QoQ

The headline weakness is mostly a year-over-year comparison, while the sequential turn and the first contribution from xanomeline-trospium suggest the commercial mix is starting to shift. That matters for a company whose valuation leans on newly launched products carrying growth once legacy lines soften. The offset from lower tumor-treating fields revenue is the detail worth watching: whether the new launch can outpace that decline is the open question.