Lianbio-Adr · Q2 2023 earnings

Briefing

LianBio's financial performance in Q2 2023 reflected a decrease in research and development expenses, offset by increased general and administrative costs, resulting in a reduced net loss compared to the same period last year.

LianBio reported a net loss of $21.6 million for the second quarter of 2023, compared to a net loss of $42.4 million for the second quarter of 2022. Research and development expenses decreased to $9.5 million from $28.6 million year-over-year, while general and administrative expenses increased slightly to $15.6 million from $14.6 million year-over-year. The company's cash, cash equivalents, and marketable securities totaled $267.3 million, providing a cash runway into the first half of 2025.

• Mavacamten NDA under priority review with China NMPA.
• Phase 3 EXPLORER-CN trial of mavacamten in Chinese patients with oHCM met the primary endpoint.
• Data from EXPLORER-CN trial to be presented at the European Society of Cardiology Congress 2023.
• Cash, cash equivalents, and marketable securities totaled $267.3 million, providing a runway into the first half of 2025.

Headline financials

Revenue & EPS history

LianBio anticipates several key milestones, including the potential NDA approval and commercial launch of mavacamten in China, topline data from the Phase 3 LIBRA trial of TP-03, and initiation of a pivotal Phase 2 trial of infigratinib. These steps are expected to drive growth and expand treatment options of cardiovascular, oncology, ophthalmology, and inflammatory disease indications.