ASLAN Pharmaceuticals(ASLN) - 2022 Q4 - Annual Report

Financial Performance - Cash used in operations for Q4 2022 was $12.0 million, slightly up from $11.9 million in Q4 2021[11]. - Net loss attributable to stockholders for Q4 2022 was $14.5 million, compared to a net loss of $9.1 million in Q4 2021[11]. - Full-year 2022 cash used in operations was $38.4 million, up from $34.0 million in 2021[13]. - Net loss attributable to stockholders for the year ended December 31, 2022, was $51.4 million, compared to a loss of $31.3 million in 2021[13]. - Cash and cash equivalents totaled $56.9 million as of December 31, 2022, down from $90.2 million as of December 31, 2021[14]. - Basic and diluted loss per ordinary share was $0.04 in 2022, compared to $0.03 in 2021[18]. - Weighted-average number of ordinary shares increased from 348,028,867 in 2021 to 348,723,365 in 2022[18]. Research and Development - Research and development expenses increased to $10.7 million in Q4 2022 from $9.0 million in Q4 2021, driven by higher costs for eblasakimab[11]. - Full-year 2022 research and development expenses rose to $38.0 million from $22.0 million in 2021, primarily due to increased costs for eblasakimab[13]. - Research and development expenses rose from $8.96 million in 2021 to $10.69 million in 2022, a 19.2% increase[18]. - Eblasakimab is being investigated in a global Phase 2b trial for moderate-to-severe atopic dermatitis, with topline readout expected in early July 2023[19]. - Farudodstat, an oral inhibitor for alopecia areata, is set to initiate a proof-of-concept trial in Q2 2023[19]. - ASLAN anticipates topline data from the farudodstat Phase 2a study in alopecia areata in the first quarter of 2024[10]. Operating Expenses - Total operating expenses increased from $11.14 million in 2021 to $13.39 million in 2022, representing a 20.2% increase[18]. - The company reported total non-operating income of $2.19 million in 2021, which turned into a loss of $962,607 in 2022[18]. Future Outlook - The company has extended its cash runway through at least the second quarter of 2024 following a recent $20 million financing[2]. - ASLAN expects to report topline data from the Phase 2b TREK-AD trial of eblasakimab in early July 2023[6]. - The company has the potential to receive an additional $80 million if all purchase warrants related to the Purchase Agreement are fully exercised[20]. Company Focus - The company is focused on developing innovative treatments to transform the lives of patients, particularly in immunology[19].