Company: CNTB
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001835268-25-000058
Chunk: 8

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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Item 1. Condensed Consolidated Financial Statements

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands, except par value)

September 30, 2025December 31, 2024ASSETSCurrent assets:Cash and cash equivalents$37,845 $78,232 Short-term investments16,936 15,476 Accounts receivable, net17 789 Prepaid expenses and other current assets7,799 2,464 Total current assets62,597 96,961 Property and equipment, net3,935 4,048 Right-of-use lease assets, net737 189 Intangible assets, net47 53 Other assets45 33 Total assets$67,361 $101,284 LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable$1,994 $342 Accrued liabilities8,932 7,802 Contract liabilities165 164 Current lease liabilities336 154 Total current liabilities11,427 8,462 Non-current lease liabilities445 24 Other non-current liabilities118 632 Total liabilities11,990 9,118 Commitments and contingencies (see Note 6)Shareholders' equity:Ordinary shares, $0.000174 par value; 400,000 shares authorized; 55,786 shares issued and outstanding at September 30, 2025 and 55,349 shares issued and outstanding at December 31, 202410 10 Additional paid-in capital442,544 439,357 Accumulated other comprehensive loss(1,277)(1,666)Treasury shares(180)(180)Accumulated deficit(385,726)(345,355)Total shareholders' equity55,371 92,166 Total liabilities and shareholders' equity$67,361 $101,284 

See accompanying notes.

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TABLE OF CONTENTS

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 

COMPREHENSIVE LOSS

(Unaudited)

(in thousands, except per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024License and collaboration revenue$16 $1,219 $64 $25,335 Operating expenses:Research and development expense11,110