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Sep 30, 2023
Lianbio-Adr Q3 2023 Earnings Report
LianBio's financial performance in Q3 2023 reflected increased R&D and G&A expenses, resulting in a net loss, while the company advanced its clinical programs and strategic review.
Key Takeaways
LianBio reported a net loss of $24.0 million for the third quarter of 2023, compared to a net loss of $21.9 million for the third quarter of 2022. Research and development expenses were $9.0 million, and general and administrative expenses were $17.3 million. The company's cash, cash equivalents, and marketable securities totaled $252.2 million as of September 30, 2023. LianBio continues its strategic review.
Entered into an agreement with Bristol Myers Squibb for mavacamten in China and other Asian markets for $350 million.
Phase 3 data from EXPLORER-CN trial of mavacamten was presented at the European Society of Cardiology Congress 2023 and published in JAMA Cardiology.
Topline data was announced from the Phase 3 trial of TP-03 in Chinese Demodex blepharitis patients, with plans to discuss results with the China National Medical Products Administration (NMPA).
Initiated a Phase 1 clinical trial of SHP2 inhibitor BBP-398 in combination with EGFR inhibitor osimertinib in Chinese non-small cell lung cancer (NSCLC) patients with EGFR mutations.
Forward Guidance
LianBio's Board of Directors has initiated a comprehensive strategic review of the company, with an update anticipated in the first half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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