{"id":746766,"date":"2023-04-11T16:24:59","date_gmt":"2023-04-11T20:24:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/connect-biopharma-reports-full-year-2022-financial-results-and-provides-business-update\/"},"modified":"2023-04-11T16:24:59","modified_gmt":"2023-04-11T20:24:59","slug":"connect-biopharma-reports-full-year-2022-financial-results-and-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/connect-biopharma-reports-full-year-2022-financial-results-and-provides-business-update\/","title":{"rendered":"Connect Biopharma Reports Full Year 2022 Financial Results\u00a0and Provides Business Update"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <strong>CDE\u2019s Pre-NDA Feedback Confirms CBP-201 for Atopic Dermatitis on Track\u00a0<\/strong><br \/>\n        <strong>for NDA Submission in China by End of First Quarter 2024<\/strong>\n      <\/p>\n<p align=\"justify\">SAN DIEGO and TAICANG, SUZHOU, China, April  11, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=D9RS_Udlom60wyx8t-XnHgmeNHt1Zo2C3XtAYrirfatJgU-sFX7pDUehK9J8Bxho2gz_QddWW2EdZm9neL65bz7NRMgZQPQL8tOgX2klj5UTEunrYCeaYt80u-moVlGv\" rel=\"nofollow noopener\" target=\"_blank\">Connect Biopharma Holdings Limited<\/a> (Nasdaq: CNTB) (Connect Biopharma or the Company), a global clinical-stage biopharmaceutical company developing T cell-driven therapies to treat inflammatory diseases, today announced financial results for the year ended December 31, 2022 and recent corporate highlights.<\/p>\n<p align=\"justify\">\u201cBased on feedback from China\u2019s Center for Drug Evaluation (CDE), we are on track with our timeline and look forward to advancing our lead drug candidate CBP-201 for moderate-to-severe atopic dermatitis (AD),\u201d said Chief Executive Officer and Co-founder of Connect Biopharma Zheng Wei, Ph.D. \u201cWe plan to submit a New Drug Application (NDA) by the end of the first quarter of 2024, which could lead to potential regulatory approval in China as early as 2025. We also remain encouraged by the CBP-201 results from our China pivotal trial and post-hoc analyses from the global Phase 2b data presented last month at the American Association of Dermatology (AAD) Annual Meeting. We remain confident in the efficacy profile of CBP-201, which showed rapid and sustained improvements and has the potential to be an effective new treatment for AD. Beyond AD, we continue to focus on treating other inflammatory-mediated diseases, including ulcerative colitis and asthma, both of which also have the potential to address large patient populations with persistent unmet medical needs.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Recent Corporate Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Presented two abstracts from CBP-201 clinical development program in patients with moderate-to-severe AD at the AAD last month. Specifically, data from post-hoc analyses of the CBP-201\u00a0<a href=\"https:\/\/clinicaltrials.gov\/ct2\/show\/NCT04444752?term=CBP-201+WW001&amp;draw=2&amp;rank=1\" rel=\"nofollow noopener\" target=\"_blank\">global\u00a0Phase 2b\u00a0trial<\/a>\u00a0showed rapid and sustained improvements across all body regions. Also, the results for the Primary Analysis Population from the ongoing CBP-201 <a href=\"https:\/\/clinicaltrials.gov\/ct2\/show\/NCT05017480\" rel=\"nofollow noopener\" target=\"_blank\">China pivotal trial<\/a> showed rapid and sustained improvement with no efficacy plateau at week 16.<\/li>\n<li style=\"text-align:justify\">Completed full enrollment for the CBP-201 Phase 2 global trial in patients with moderate-to-severe asthma with Type 2 inflammation.<\/li>\n<li style=\"text-align:justify\">Announced positive topline data on Stage 1 of the ongoing CBP-201 China pivotal trial in AD on the primary analysis population of 255 patients.<\/li>\n<li style=\"text-align:justify\">Reported results from Phase 1 single ascending dose study for CBP-174 in pruritis associated with AD. CBP-174 was observed to be well-tolerated with no serious adverse events and no dose-limiting toxicities identified.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Anticipated Upcoming Milestones<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>CBP-201 in AD<\/u><br \/>\n        <\/strong><br \/>\n        <strong>: <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>China pivotal trial: <\/strong>The Company believes it is on track to complete the 36-week stage 2 maintenance phase of the trial in patients with severe-to-moderate AD in the second half of 2023. This stage of the trial includes a once-a-month (Q4W) dosing regimen. Based on feedback received from the CDE, the Company plans to submit an NDA by the end of the first quarter of 2024 for potential approval in 2025.<\/li>\n<li style=\"text-align:justify\">\n          <strong>Global Phase 3 program: <\/strong>The Company is seeking strategic partnerships to advance this product candidate to the next phase of clinical development with potential global and regional partners to provide the necessary infrastructure and deliver a differentiated therapeutic program with improved efficacy and dosing convenience.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>CBP-201 in Asthma:<\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Anticipate reporting top-line results from the Phase 2 in the second half of 2023.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>CBP-307 Phase 2 trial in moderate-to-severe Ulcerative Colitis (UC): <\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Results of the Phase 2 maintenance portion of the trial are expected to be reported in the second quarter of 2023 and the Company is seeking strategic partnerships to progress CBP-307 into future trials in UC and Crohn\u2019s disease.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>2022 Financial Results<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">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, compared with RMB 1,706.9 million (USD 267.7 million) at December 31, 2021. The decrease was mainly due to ongoing research and development (R&amp;D) associated with the Company\u2019s clinical drug programs and administrative costs. Management believes based on current operating plans the Company has sufficient cash, cash equivalents, and investments to support planned operations into at least 2025, including funding of all remaining CBP-201 China pivotal trial studies and other clinical and regulatory milestones discussed above.\n<\/li>\n<li style=\"text-align:justify\">R&amp;D expenses for the year ended December 31, 2022 totaled RMB 652.2 million (USD 93.7 million), compared with RMB 518.0 million (USD 81.2 million) for the year ended December 31, 2021, primarily due to increased third-party clinical trial costs related to advancing the clinical development of the Company\u2019s lead product candidates. This includes clinical and manufacturing expenses related to advancing CBP-201 for AD in China, completing the global Phase 2b program for CBP-201 in AD, ongoing global Phase 2 trial costs for CBP-201 in asthma, ongoing global Phase 2 trial costs for CBP-307 in UC, as well as higher personnel costs for additional R&amp;D headcount.\n<\/li>\n<li style=\"text-align:justify\">Administrative expenses totaled RMB 139.4 million (USD 20.0 million) for the year ended December 31, 2022, compared with RMB 122.4 million (USD 19.2 million) for the year ended December 31, 2021. The increase in administrative expenses was primarily due to increases in payroll and related expenses for additional headcount, including share-based compensation expense, and other infrastructure costs needed in support of the growth of our business operations.\n<\/li>\n<li style=\"text-align:justify\">Net loss totaled RMB 797.1 million (USD 114.4 million) for the year ended December 31, 2022, compared with a net loss of RMB 1,306.8 million (USD 205.0 million) for the year ended December 31, 2021. The net loss in the prior year period was higher due to the recognition of RMB 674.3 million of fair value adjustments on preferred shares, which was converted to ordinary shares during the Company\u2019s 2021 IPO.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>About Connect Biopharma Holdings Limited<\/strong><br \/>\n        <br \/>Connect Biopharma is a global, clinical-stage biopharmaceutical company applying its expertise in T cell biology and deep knowledge of the drug discovery industry to develop innovative therapies to treat chronic inflammatory diseases with the goal of improving the lives of millions of those affected around the world. The Company is building a rich pipeline of proprietary small molecules and antibodies, using functional T cell assays, to screen and discover potent product candidates against validated immune targets. The Company\u2019s lead product candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha (IL-4R\u03b1) in development for the treatment of atopic dermatitis (AD) and asthma. The Company\u2019s second product candidate, CBP-307, is a modulator of S1P1 T cell receptor and is in development for the treatment of ulcerative colitis (UC). The Company\u2019s third product candidate, CBP-174, is a peripherally acting antagonist of histamine receptor 3, in development for the treatment of pruritus associated with AD. For more information, please visit: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cEg1_1KItX3lwQPXrfHUZUCHQjej832Qq_VI-I-2Qyf5y7mcbyCVZspsmgbdDYdSfJH0EyhLKEcgoUz_eykVDGrj02g6ldodbrSuDUNOtknlEcOLyDU35e9oghQ0u9Wj\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.connectbiopharm.com\/<\/a><\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Connect Biopharma cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as \u201cmay,\u201d \u201ccould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cpredict,\u201d \u201cseek,\u201d \u201ccontemplate,\u201d \u201cpotential,\u201d \u201ccontinue\u201d or \u201cproject\u201d or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These\u00a0statements\u00a0include\u00a0the Company\u2019s plans to advance the development of its product candidates, the timing of achieving any development or regulatory milestones or reporting results or whether such milestones or results will be achieved or generated, the potential of such product candidates\u00a0including\u00a0to achieve any benefit, improvement, differentiation or profile or any product approval or be effective,\u00a0the Company\u2019s ability to identify and enter into strategic partnerships as well as\u00a0the sufficiency of the Company\u2019s cash, cash equivalents, and investments to continue to support operations. The inclusion of forward-looking statements should not be regarded as a representation by Connect Biopharma that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company\u2019s business and other risks described in the Company\u2019s filings with the Securities and Exchange Commission (SEC), including the Company\u2019s Annual Report on Form 20-F filed with the SEC on April 11, 2023, and its other reports, which are available from the SEC\u2019s website (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MNOVjb0ViGmaOQz50NqUBc5oe0d1Qrpramm4hgbGZXuMaQ2wmR62sHO2o4qxgggTBej7qLSt_ZiBq2s290s2Nw==\" rel=\"nofollow noopener\" target=\"_blank\">www.sec.gov<\/a>) and on Connect Biopharma\u2019s website (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UEYQ4PcTTIzT40klq115KAIIGFW2r2zOcHBmkMM41ZHAwdI0OcmF3reJwZVXnnTgQR7bbn69urzQjpZu24uWQdnbfqFxiWilA3m1tnoJxRE=\" rel=\"nofollow noopener\" target=\"_blank\">www.connectbiopharm.com<\/a>) under the heading \u201cInvestors.\u201d Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Connect Biopharma undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"10\" style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Connect Biopharma Holdings Ltd.<\/strong><br \/>\n            <br \/>\n            <strong>Condensed Consolidated Statements of Loss (Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"8\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Year Ended December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB\u2019000<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB\u2019000<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>USD\u2019000<\/strong><br \/>\n            <sup><br \/>\n              <strong>(1)<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:58%;width:58%;min-width:58%;text-align: left;vertical-align: middle\">Research and development expenses<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(518,021<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(652,211<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(93,646<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Administrative expenses<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(122,445<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(139,444<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(20,022<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Net impairment losses<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(32,805<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,710<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Other income<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">18,996<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,438<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">924<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Other (losses)\/gains\u2014net<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(9,966<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,433<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,785<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Operating loss<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(631,436<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(805,589<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(115,669<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Finance income<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">622<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,715<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,538<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Finance cost<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(44<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(144<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(21<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Finance (cost)\/income\u2014net<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">578<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,571<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,517<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Fair value loss of financial instruments with preferred rights<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(674,269<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Net loss before income tax<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1,305,127<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(795,018<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(114,152<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Income tax expense<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,697<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,037<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(292<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Net loss<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1,306,824<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(797,055<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(114,444<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Net loss attributable to:<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px\">Owners of the Company<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,306,824<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(797,055<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(114,444<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>USD<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Net loss per share<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Basic and diluted<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(25.0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(14.5<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2.1<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"left\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"10\" style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Connect Biopharma Holdings Ltd.<\/strong><br \/>\n            <br \/>\n            <strong>Selected Consolidated Balance Sheet Data (Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>As of December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB\u2019000<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB\u2019000<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>USD\u2019000<\/strong><br \/>\n            <sup><br \/>\n              <strong>(1)<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:58%;width:58%;min-width:58%;text-align: left;vertical-align: middle\">Cash, cash equivalents, short-term and long-term investments<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,706,880<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,127,268<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">161,857<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Total assets<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,855,659<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,211,930<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">174,013<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Total liabilities<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">119,828<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">115,060<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">16,521<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Accumulated losses<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,378,165<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,175,220<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(455,908<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Total shareholders&#8217; equity<\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,735,831<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,096,870<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">157,492<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>(1)<\/strong>\u00a0Translations of the selected consolidated balance sheet data and the condensed consolidated statement of loss from RMB into USD as of and for the year ended December 31, 2022, are solely for the convenience of the readers and calculated at the rate of USD1.00=RMB 6.9646, representing the exchange rate as of December 31, 2022, set forth in the China Foreign Exchange Trade System. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate, on December 31, 2022, or any other date.<\/p>\n<p align=\"left\">\n        <strong>INVESTOR CONTACT<\/strong>:<br \/>Ina McGuinness<br \/><strong>805.427.1372<\/strong><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=bu55cdLMGWctEegV38WzL9YyMx9j_4NpegHewejvIXSDVLsaCv-g4XKJoRDbVvf6WF6v0VpgVx9XdwJAKmV6OvGogTgAODiAJSZK0f-DlZzECvWxuSz7fI03ixnwrNTE\" rel=\"nofollow noopener\" target=\"_blank\">imcguinness@connectpharm.com<\/a><\/p>\n<p>\n        <strong>MEDIA CONTACT:<\/strong><br \/>\n        <br \/>Deanne Eagle<br \/><strong>917.837.5866<\/strong><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7kaiSLwYCDqmOb-ZMVN2FrQOLp7hth30-MxSwzccjtaBuuB3LeAjzJuwaxXUS5XuOONdQzxOCD8Y-NSDebhGShw__yaWhvc4I631CrYBzS8=\" rel=\"nofollow noopener\" target=\"_blank\">Deanne@mcguinnessIR.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwNTE2MyM1NTE2NDY4IzIyMDc1MTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Mzk1NTJhNzEtY2Q3NC00NDY0LTgyNjQtNTM3MDEzOTMyNWM0LTEyMTkwNjQ=\/tiny\/Connect-Biopharma-Holdings-Lim.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CDE\u2019s Pre-NDA Feedback Confirms CBP-201 for Atopic Dermatitis on Track\u00a0 for NDA Submission in China by End of First Quarter 2024 SAN DIEGO and TAICANG, SUZHOU, China, April 11, 2023 (GLOBE NEWSWIRE) &#8212; Connect Biopharma Holdings Limited (Nasdaq: CNTB) (Connect Biopharma or the Company), a global clinical-stage biopharmaceutical company developing T cell-driven therapies to treat inflammatory diseases, today announced financial results for the year ended December 31, 2022 and recent corporate highlights. \u201cBased on feedback from China\u2019s Center for Drug Evaluation (CDE), we are on track with our timeline and look forward to advancing our lead drug candidate CBP-201 for moderate-to-severe atopic dermatitis (AD),\u201d said Chief Executive Officer and Co-founder of Connect Biopharma Zheng Wei, Ph.D. \u201cWe plan to submit &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/connect-biopharma-reports-full-year-2022-financial-results-and-provides-business-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Connect Biopharma Reports Full Year 2022 Financial Results\u00a0and Provides Business Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-746766","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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