Company: CNTB
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001835268-25-000052
Chunk: 4

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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Item 1. Condensed Consolidated Financial Statements

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands, except par value)

June 30, 2025December 31, 2024ASSETSCurrent assets:Cash and cash equivalents$40,632 $78,232 Short-term investments31,136 15,476 Accounts receivable, net— 789 Prepaid expenses and other current assets5,988 2,464 Total current assets77,756 96,961 Property and equipment, net4,051 4,048 Right-of-use lease assets, net825 189 Intangible assets, net48 53 Other assets45 33 Total assets$82,725 $101,284 LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable$2,294 $342 Accrued liabilities7,933 7,802 Contract liabilities164 164 Current lease liabilities350 154 Total current liabilities10,741 8,462 Non-current lease liabilities520 24 Other non-current liabilities122 632 Total liabilities11,383 9,118 Commitments and contingencies (see Note 6)Shareholders' equity:Ordinary shares, $0.000174 par value; 400,000 shares authorized; 55,580 shares issued and outstanding at June 30, 2025 and 55,349 shares issued and outstanding at December 31, 202410 10 Additional paid-in capital441,413 439,357 Accumulated other comprehensive loss(1,375)(1,666)Treasury shares(180)(180)Accumulated deficit(368,526)(345,355)Total shareholders' equity71,342 92,166 Total liabilities and shareholders' equity$82,725 $101,284 

See accompanying notes.

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TABLE OF CONTENTS

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 

COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(in thousands, except per share amounts)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024License and collaboration revenue$48 $24,116 $48 $24,116 Operating expenses:Research and development expense