Company: CNTB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001835268-25-000014
Chunk: 253

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 253
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-current assets— 238 Accounts payable(1,867)(1,136)Accrued liabilities(1,677)(6,078)Contract liabilities(13,156)13,320 Operating leases(14)(5)Other non-current liabilities227 (182)Net cash used in operating activities(23,612)(47,741)Investing activities:Purchases of short-term investments(15,451)(31,027)Proceeds from maturities and sales of short-term investments12,750 103,145 Purchases of property and equipment(750)(81)Proceeds from sale of land use rights— 2,941 Proceeds from sale of property and equipment— 2 Net cash (used in) provided by investing activities(3,451)74,980 Financing activities:Proceeds from shares issued under the Employee Share Purchase Plan33 44 Proceeds from exercise of stock options194 1 Net cash provided by financing activities227 45 Effect of exchange rate changes on cash and cash equivalents(595)(568)Net (decrease) increase in cash and cash equivalents(27,431)26,716 Cash and cash equivalents at beginning of year105,663 78,947 Cash and cash equivalents at end of year$78,232 $105,663 Supplemental disclosure of cash flow information:Income taxes paid$111 $120 

See accompanying Notes to Consolidated Financial Statements.

113

CONNECT BIOPHARMA HOLDINGS LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.Organization and Business

Connect Biopharma Holdings Limited (the “Company,” “Connect,” or “Connect Biopharma”) was incorporated in November 2015 in the Cayman Islands as an exempted company with limited liability. The Company completed its initial public offering in March 2021 and the Company’s American Depositary Shares (“ADSs”) have been listed on the Nasdaq Global Market since then. Each ADS represents one ordinary share, par value United States (“U.S.”) Dollar (“USD”) $0.000174 per share.Connect Biopharma, headquartered in San Diego, California, is a clinical-stage biopharmaceutical company focused on advancing rademikibart, a potentially best-in-class next generation IL-4Rα antibody, to transform care in asthma and chronic obstructive pulmonary disease.As of December 31, 2024, we had cash, cash equivalents, and short-term