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]
nect Biopharma (CNTB) - 2022 Q4 - Annual Report