Company: CNTB
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001835268-25-000052
Chunk: 7

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 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 

See accompanying notes.

7

CONNECT BIOPHARMA HOLDINGS LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)

Six Months Ended June 30,20252024Operating activities:Net (loss) income$(23,171)$6,154 Adjustments to reconcile net (loss) income to net cash used in operating activities:Share-based compensation expense1,893 3,305 Depreciation and amortization344 326 Accretion of discounts on available-for-sale investments(537)(99)Loss on disposal of property and equipment34 — Change in operating assets and liabilities:Accounts receivable, net789— Prepaid expenses and other assets(3,524)1,251 Contract assets— (3,930)Other non-current assets(7)(67)Accounts payable1,952 (1,679)Accrued liabilities131 (579)Contract liabilities— (12,951)Operating lease liabilities56 (6)Other non-current liabilities(510)(11)Net cash used in operating activities(22,550)(8,286)Investing activities:Purchases of short-term investments(30,470)— Proceeds from maturities and sales of short-term investments15,340 12,750 Purchases of property and equipment(384)(290)Proceeds from sale of property and equipment2 — Net cash (used in) provided by investing activities(15,512)12,460 Financing activities:Proceeds from purchases under the ESPP143 20 Proceeds from exercise of stock options20 101 Net cash provided by financing activities163 121 Effect of exchange rate changes on cash and cash equivalents299 (119)Net (decrease) increase  in