Company: CNTB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001835268-25-000014
Chunk: 251

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 251
---
 authorized; 55,349,208 shares issued and outstanding at December 31, 2024 and 55,102,954 shares issued and outstanding at December 31, 202310 10 Additional paid-in capital439,357 432,402 Accumulated other comprehensive loss(1,666)(1,008)Treasury shares(180)(180)Accumulated deficit(345,355)(329,727)Total shareholders' equity92,166 101,497 Total liabilities and shareholders' equity$101,284 $127,375 

See accompanying Notes to Consolidated Financial Statements.

110

CONNECT BIOPHARMA HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except per share amounts)

Years Ended December 31,20242023Revenue:License and collaboration revenues$26,033 $— Total revenue26,033 — Operating expenses:Research and development expense29,256 53,002 General and administrative expense19,229 16,054 Total operating expenses48,485 69,056 Loss from operations(22,452)(69,056)Other income, net:Interest income4,453 5,223 Other income (expense)2,594 1,847 Total other income, net7,047 7,070 Net loss before income tax(15,405)(61,986)Income tax expense223 120 Net loss$(15,628)$(62,106)Other comprehensive loss:Foreign currency translation adjustments(670)(614)Unrealized gains on available-for-sale investments12 354 Comprehensive loss$(16,286)$(62,366)Basic and diluted net loss per ordinary share$(0.28)$(1.13)Weighted-average ordinary shares outstanding, basic and diluted55,213 55,067 

See accompanying Notes to Consolidated Financial Statements.

111

CONNECT BIOPHARMA HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(In thousands)

Ordinary SharesAdditional Paid-InCapitalAccumulated OtherComprehensiveLossTreasuryAccumulatedDeficitTotalShareholders'EquitySharesAmountSharesBalance, December 31, 202255,041$10 $426,961 $(748)$(180)$(267,621)$158,422 Issuance of ordinary shares under Employee Stock Purchase Plan60—