Financial Performance - Connect Biopharma reported a net loss of $59.5 million for the year ended December 31, 2023, a significant decrease from a net loss of $118.1 million in 2022, representing a 49.7% reduction [14]. - Research and development expenses decreased to $51.9 million in 2023 from $96.6 million in 2022, a reduction of 46.3% primarily due to fewer clinical trials and lower personnel costs [13]. - Cash, cash equivalents, and short-term investments totaled $118.7 million as of December 31, 2023, down from $161.9 million in 2022, with a decrease of $43.2 million attributed to clinical program advancements [12]. - Total assets decreased to $125.9 million in 2023 from $174.0 million in 2022, while total liabilities increased to $24.8 million from $16.5 million [17]. - Administrative expenses were reduced to $14.5 million in 2023 from $20.8 million in 2022, a decrease of 30.5% due to lower professional fees and share-based compensation [13]. Clinical Trials and Programs - The rademikibart program demonstrated significant improvements in lung function in asthma patients, with results showing early improvement as soon as Week 1 and sustained effects through Week 24 [3]. - In the China pivotal trial for atopic dermatitis, approximately 90% of patients on a four-week dosing regimen maintained clinical response through Week 52 [4]. - Connect Biopharma has scheduled two meetings with the FDA in Q2 2024 to discuss registrational programs for rademikibart in atopic dermatitis and asthma [11]. - The company anticipates receiving updates from Simcere regarding the NDA filing for rademikibart in Q2 2024 [11]. Partnerships and Agreements - The company signed an exclusive licensing agreement with Simcere, receiving an upfront payment of ¥150 million ($21 million) and potential milestone payments of up to ¥875 million ($120 million) [10].

SAN DIEGO and TAICANG, China, March 19, 2024 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (NASDAQ:CNTB) ("Connect Biopharma" or the "Company"), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T cell-driven research, today announced that Zheng Wei, Ph.D., Co-Founder and CEO, and Raúl Collazo, Ph.D., Global Head of Medical Affairs will participate in H.C. Wainwright 2nd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...

Financial Performance - Cash, cash equivalents, and short-term and long-term investments were RMB 1,127.3 million (USD 161.9 million) as of December 31, 2022, down from RMB 1,706.9 million (USD 267.7 million) at the end of 2021[7] - Net loss for the year ended December 31, 2022, was RMB 797.1 million (USD 114.4 million), a decrease from a net loss of RMB 1,306.8 million (USD 205.0 million) in 2021[9] - Total liabilities as of December 31, 2022, were RMB 115.1 million (USD 16.5 million), with total shareholders' equity at RMB 1,096.9 million (USD 157.5 million)[15] Research and Development - R&D expenses for the year ended December 31, 2022, totaled RMB 652.2 million (USD 93.6 million), an increase from RMB 518.0 million (USD 81.2 million) in 2021, primarily due to higher clinical trial costs[8] - The ongoing CBP-201 China pivotal trial in atopic dermatitis is expected to complete the 36-week stage 2 maintenance phase in the second half of 2023[4] - Positive topline data from Stage 1 of the ongoing CBP-201 China pivotal trial in atopic dermatitis was reported on a primary analysis population of 255 patients[3] - The Company anticipates reporting top-line results from the Phase 2 trial for CBP-201 in asthma in the second half of 2023[5] - Results from the Phase 2 maintenance portion of the CBP-307 trial in ulcerative colitis are expected to be reported in Q2 2023[6] Administrative Expenses - Administrative expenses increased to RMB 139.4 million (USD 20.0 million) for the year ended December 31, 2022, compared to RMB 122.4 million (USD 19.2 million) in 2021[9] Future Plans - The Company plans to submit a New Drug Application (NDA) for CBP-201 for atopic dermatitis by the end of Q1 2024, with potential regulatory approval in China as early as 2025[2]