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

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 adjustments— — — (234)— — (234)Balance, March 31, 202455,103 10 433,718 (1,233)(180)(338,420)93,895 Issuance of ordinary shares under ESPP27 — 20 — — — 20 Issuance of ordinary shares upon exercise of stock options124 — 101 — — — 101 Share-based compensation expense— — 1,989 — — — 1,989 Net income— — — — — 14,847 14,847 Net unrealized gains on available-for-sale investments— — — 2 — — 2 Foreign currency translation adjustments— — — 79 — — 79 Balance, June 30, 202455,254$10 $435,828 $(1,152)$(180)$(323,573)$110,933 Share-based compensation expense— — 2,022 — — — 2,022 Net loss— — — — — (12,876)(12,876)Foreign currency translation adjustments— — — 570 — — 570 Balance, September 30, 202455,254 $10 $437,850 $(582)$(180)$(336,449)$100,649 

See accompanying notes.

7

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)

Nine Months Ended September 30,20252024Operating activities:Net loss$(40,371)$(6,722)Adjustments to reconcile net loss to net cash used in operating activities:Share-based compensation expense2,809 5,327 Depreciation and amortization523 502 Accretion of discounts on available-for-sale investments(706)(99)Loss on disposal of property and equipment34 7 Change in operating assets and liabilities:Accounts receivable, net772(5,021)Prepaid expenses and other assets(5,335)223 Other non-current assets(6)(98)Accounts payable1,652 (1,826)Accrued liabilities1,130 (661)Contract liabilities1 (13,152)Operating lease liabilities