Company: CNTB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001835268-25-000058
Chunk: 20

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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, the Company did not record any unrealized gains or losses associated with available-for-sale investments. For the nine months ended September 30, 2024, the Company recorded $11,000 in net unrealized gains associated with its available-for-sale investments.Realized gains and losses associated with its investments, if any, are reported in the statements of operations and comprehensive loss. The Company did not recognize any realized gains or losses during the three and nine months ended September 30, 2025 or 2024.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consist of the following (in thousands):September 30, 2025December 31, 2024Prepaid clinical and manufacturing expenses$6,454 $1,541 Prepaid insurance459 242 Prepaid taxes212 — Interest receivables157 262 Other prepaid expenses and current assets517 419 Total prepaid expenses and other current assets$7,799 $2,464 Accrued LiabilitiesAccrued liabilities consist of the following (in thousands):September 30, 2025December 31, 2024Accrued clinical, manufacturing and professional expense$6,573 $4,211 Accrued compensation and benefits2,102 3,342 Other accrued expenses257 249 Total accrued liabilities$8,932 $7,802 

5. License and Collaboration Agreement

Simcere License AgreementOn November 21, 2023 (the “Effective Date”), Connect HK and Connect SZ (“Licensor”) entered into an exclusive license and collaboration agreement (the “License Agreement”) with Simcere Pharmaceutical Co., Ltd. (“Simcere” or “Licensee”), a subsidiary of Simcere Pharmaceutical Group Ltd., to develop and commercialize rademikibart in Greater China.Simcere has been granted exclusive rights to develop, manufacture, and commercialize rademikibart for all indications in Greater China, including mainland China, Hong Kong, Macau, and Taiwan (the “Territory”), while Connect retains rights in all other markets. Under the License Agreement, Connect was required to complete all of rademikibart’s ongoing clinical trials and related analysis in the Territory in atopic dermatitis (“AD”), while the Licensee will be responsible for rademikibart’s new drug application for AD in China and will also conduct and be responsible for the costs of all future clinical studies in all additional disease