Company: CNTB
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001835268-25-000035
Chunk: 43

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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 For the three months ended March 31, 2025, we recorded $1,000 in net unrealized losses associated with our available-for-sale investments. For the three months ended March 31, 2024, we recorded $9,000 in net unrealized gains associated with our available-for-sale investments.Realized gains and losses associated with our investments, if any, are reported in the statements of operations and comprehensive loss. We did not recognize any realized gains or losses during the three months ended March 31, 2025 or 2024.

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Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consist of the following (in thousands):March 31, 2025December 31, 2024Prepaid expenses$3,520 $2,149 Interest receivables167 262 Other assets65 53 Total prepaid expenses and other current assets$3,752 $2,464 Accrued LiabilitiesAccrued liabilities consist of the following (in thousands):March 31, 2025December 31, 2024Accrued clinical, manufacturing and professional expense$5,988 $4,211 Accrued compensation and benefits1,050 3,342 Other accrued expenses200 249 Total accrued liabilities$7,238 $7,802 

5. License and Collaboration Agreement

Simcere License AgreementOn November 21, 2023 (the “Effective Date”), Connect HK and Connect SZ (“Licensor”) entered into an exclusive license and collaboration agreement (the “License Agreement”) with Simcere Pharmaceutical Co., Ltd. (“Simcere” or “Licensee”), a subsidiary of Simcere Pharmaceutical Group Ltd., to develop and commercialize rademikibart in Greater China.Simcere has been granted exclusive rights to develop, manufacture, and commercialize rademikibart for all indications in Greater China, including mainland China, Hong Kong, Macau, and Taiwan (the “Territory”), while Connect retains rights in all other markets. Under the License Agreement, Connect was required to complete all of rademikibart’s ongoing clinical trials and related analysis in the Territory in atopic dermatitis (“AD”), while the Licensee will be responsible for rademikibart’s new drug application for AD in China and will also conduct and be responsible for the costs of all future clinical studies in all additional disease indications for rademikibart in Greater China