Lianbio-Adr · Q3 2023 earnings

Briefing

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.

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.

Headline financials

Revenue & EPS history

LianBio's Board of Directors has initiated a comprehensive strategic review of the company, with an update anticipated in the first half of 2024.