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

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
55 (9)Other non-current liabilities(514)236 Net cash used in operating activities(39,956)(21,293)Investing activities:Purchases of short-term investments(30,470)— Proceeds from maturities and sales of short-term investments29,720 12,750 Purchases of property and equipment(418)(437)Proceeds from sale of property and equipment2 — Net cash (used in) provided by investing activities(1,166)12,313 Financing activities:Proceeds from purchases under the ESPP143 20 Proceeds from exercise of stock options235 101 Net cash provided by financing activities378 121 Effect of exchange rate changes on cash and cash equivalents357 388 Net decrease in cash and cash equivalents(40,387)(8,471)Cash and cash equivalents at beginning of year78,232 105,663 Cash and cash equivalents at end of year$37,845 $97,192 Supplemental disclosure of cash flow information:Income taxes paid$124 $111 

See accompanying notes.

8

CONNECT BIOPHARMA HOLDINGS LIMITED

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. Organization and Business

Connect Biopharma Holdings Limited (“Connect,” “Connect Biopharma,” the “Company,” “we,” “us,” “our” and similar terms refer to Connect Biopharma Holdings Limited, together with its subsidiaries), headquartered in San Diego, California, is a clinical-stage biopharmaceutical company dedicated to transforming care for asthma and  chronic obstructive pulmonary disease (“COPD”). The Company is advancing rademikibart, a next-generation, potentially best-in-class antibody designed to target anti-interleukin-4-receptor alpha (“IL-4Rα”).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 (“IPO”) in March 2021, and its ordinary shares, par value $0.000174 per share (“Ordinary Shares”), are listed on the Nasdaq Global Market (“Nasdaq”) under the symbol “CNTB”.As of September 30, 2025, we had cash, cash equivalents, and short-term investments of $54.8 million. Based on our current operating plan and projections, management believes that the Company’s cash, cash