Company: CNTB
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001835268-25-000035
Chunk: 9

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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Item 1. Condensed Consolidated Financial Statements

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands, except par value)

March 31, 2025December 31, 2024ASSETSCurrent assets:Cash and cash equivalents$47,709 $78,232 Short-term investments36,286 15,476 Accounts receivable, net8 789 Prepaid expenses and other current assets3,752 2,464 Total current assets87,755 96,961 Property and equipment, net3,907 4,048 Right-of-use lease assets, net928 189 Intangible assets, net50 53 Other assets45 33 Total assets$92,685 $101,284 LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable$817 $342 Accrued liabilities7,238 7,802 Contract liabilities164 164 Current lease liabilities346 154 Total current liabilities8,565 8,462 Non-current lease liabilities594 24 Other non-current liabilities627 632 Total liabilities9,786 9,118 Shareholders' equity:Ordinary shares, $0.000174 par value; 400,000 shares authorized; 55,352 shares issued and outstanding at March 31, 2025 and 55,349 shares issued and outstanding at December 31, 202410 10 Additional paid-in capital440,301 439,357 Accumulated other comprehensive loss(1,605)(1,666)Treasury shares(180)(180)Accumulated deficit(355,627)(345,355)Total shareholders' equity82,899 92,166 Total liabilities and shareholders' equity$92,685 $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 March 31,20252024Operating expenses:Research and development expense$6,633 $8,663 General and administrative expense4,814 3,970 Total operating expenses11,447 12,633 Loss from operations(11,447)(12,633)Other income