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Name | Symbol | Market | Type |
---|---|---|---|
ASLAN Pharmaceuticals Ltd | NASDAQ:ASLN | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.48 | 0.47 | 0.4999 | 0 | 01:00:00 |
Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals, said: “We have continued to make solid progress in 2021 and we are on track to complete the expansion cohort in our multiple ascending dose trial for ASLAN004 with an additional 27 patients expected to be enrolled by mid-2021 followed by the announcement of topline data expected in the third quarter of 2021. We are excited to expand our senior management team with two highly experienced executives, Dr Karen Veverka, who will be leading our clinical development program, and Joseph Suttner to lead clinical operations. In addition, we are preparing for our Phase 2b trial for ASLAN004, which we expect to initiate in the second half of 2021. Our robust financial position provides the resources to fund development activities and achieve additional value creating milestones for shareholders.”
First quarter 2021 and recent business highlights
Clinical development
ASLAN004
Corporate updates
Anticipated upcoming milestones
First quarter 2021 financial highlights
ASLAN Pharmaceuticals LimitedCONSOLIDATED BALANCE SHEETS(In U.S. Dollars) | ||||||||
December 31, 2020(audited) | March 31, 2021(unaudited) | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash and cash equivalents | $ | 14,324,371 | $ | 100,818,328 | ||||
Other receivables | 528,841 | 528,841 | ||||||
Prepayments | 511,208 | 397,135 | ||||||
Financial assets at fair value through profit or loss | 137,926 | - | ||||||
Total current assets | 15,502,346 | 101,744,304 | ||||||
NON-CURRENT ASSETS | ||||||||
Property, plant and equipment | 13,387 | 8,153 | ||||||
Right-of-use assets | 462,550 | 396,349 | ||||||
Intangible assets | 160 | - | ||||||
Refundable deposits | 103,307 | 70,050 | ||||||
Total non-current assets | 579,404 | 474,552 | ||||||
TOTAL ASSETS | $ | 16,081,750 | $ | 102,218,856 | ||||
LIABILITIES AND EQUITY | ||||||||
CURRENT LIABILITIES | ||||||||
Trade payables | $ | 2,319,558 | $ | 1,943,657 | ||||
Other payables | 4,280,409 | 3,450,273 | ||||||
Current portion of long-term borrowing | 2,900,971 | - | ||||||
Current portion of long-term borrowing from related parties | 617,912 | - | ||||||
Lease liabilities - current | 271,624 | 161,602 | ||||||
Financial liabilities at fair value through profit or loss | 267,000 | - | ||||||
Total current liabilities | 10,657,474 | 5,555,532 | ||||||
NON-CURRENT LIABILITIES | ||||||||
Financial liabilities at fair value through profit or loss | - | - | ||||||
Long-term borrowings | 15,183,421 | 15,098,337 | ||||||
Lease liabilities - non-current | 281,149 | 281,149 | ||||||
Other non-current liabilities | 111,990 | 111,990 | ||||||
Total non-current liabilities | 15,576,560 | 15,491,476 | ||||||
Total liabilities | 26,234,034 | 21,047,008 | ||||||
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY | ||||||||
Ordinary shares | 61,826,237 | 63,008,864 | ||||||
Capital surplus | 123,582,460 | 220,694,153 | ||||||
Accumulated deficits | (195,682,714 | ) | (202,403,231 | ) | ||||
Other reserves | (178,948 | ) | (178,948 | ) | ||||
Total equity attributable to stockholders of the Company | (10,452,965 | ) | 81,120,838 | |||||
NON-CONTROLLING INTERESTS | 300,681 | 51,010 | ||||||
Total equity | (10,152,284 | ) | 81,171,848 | |||||
TOTAL LIABILITIES AND EQUITY | $ | 16,081,750 | $ | 102,218,856 | ||||
ASLAN Pharmaceuticals LimitedCONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(In U.S. Dollars, other than shares or share data) | |||||||||||
For the Three Months Ended March 31 | |||||||||||
2020 | 2021 | ||||||||||
NET REVENUE | $ | - | $ | - | |||||||
COST OF REVENUE | - | - | |||||||||
GROSS PROFIT | - | - | |||||||||
OPERATING EXPENSES | |||||||||||
General and administrative expenses | (997,543 | ) | (3,105,064 | ) | |||||||
Research and development expenses | (2,354,616 | ) | (3,750,972 | ) | |||||||
Total operating expenses | (3,352,159 | ) | (6,856,036 | ) | |||||||
LOSS FROM OPERATIONS | (3,352,159 | ) | (6,856,036 | ) | |||||||
NON-OPERATING INCOME AND EXPENSES | |||||||||||
Interest income | 102 | 137 | |||||||||
Other gains and losses | 457,251 | 297,185 | |||||||||
Finance costs | (339,025 | ) | (411,474 | ) | |||||||
Total non-operating income and expenses | 118,328 | (114,152 | ) | ||||||||
LOSS BEFORE INCOME TAX | (3,233,831 | ) | (6,970,188 | ) | |||||||
INCOME TAX EXPENSE | - | - | |||||||||
NET LOSS FOR THE PERIOD | (3,233,831 | ) | (6,970,188 | ) | |||||||
OTHER COMPREHENSIVE LOSS | |||||||||||
Items that will not be reclassified subsequently to profit or loss: | |||||||||||
Unrealized loss on investments in equity instruments at fair value through OCI | (35,007 | ) | - | ||||||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | $ | (3,268,838 | ) | $ | (6,970,188 | ) | |||||
NET LOSS ATTRIBUTABLE TO: | |||||||||||
Stockholders of the Company | $ | (3,046,705 | ) | $ | (6,720,517 | ) | |||||
Non-controlling interests | (187,126 | ) | (249,671 | ) | |||||||
$ | (3,233,831 | ) | $ | (6,970,188 | ) | ||||||
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO: | |||||||||||
Stockholders of the Company | $ | (3,081,712 | ) | $ | (6,720,517 | ) | |||||
Non-controlling interests | (187,126 | ) | (249,671 | ) | |||||||
$ | (3,268,838 | ) | $ | (6,970,188 | ) | ||||||
LOSS PER ORDINARY SHARE | |||||||||||
Basic and diluted | $ | (0.02 | ) | $ | (0.03 | ) | |||||
LOSS PER EQUIVALENT ADS | |||||||||||
Basic and diluted | $ | (0.08 | ) | $ | (0.13 | ) | |||||
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share | 189,954,970 | 257,163,743 | |||||||||
Weighted-average number of ADS in the computation of basic loss per ADS | 37,990,994 | 51,432,749 | |||||||||
Each ADS represents five ordinary shares.
Media and IR contacts
Emma ThompsonSpurwing CommunicationsTel: +65 6751 2021Email: ASLAN@spurwingcomms.com | Robert UhlWestwicke PartnersTel: +1 858 356 5932 Email: robert.uhl@westwicke.com |
About ASLAN PharmaceuticalsASLAN Pharmaceuticals (Nasdaq:ASLN) is a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients. Led by a senior management team with extensive experience in global development and commercialisation, ASLAN has a clinical portfolio comprised of a first-in-class monoclonal therapy, ASLAN004, that is being developed in atopic dermatitis and other immunology indications, and ASLAN003, which it plans to develop for autoimmune disease. For additional information please visit www.aslanpharma.com.
Forward looking statements
This release and the accompanying financial information, if any, contains forward-looking statements. These statements are based on the current beliefs and expectations of the management of ASLAN Pharmaceuticals Limited and/or its affiliates (the "Company"). These forward-looking statements may include, but are not limited to, statements regarding the Company’s business strategy and clinical development plans; the Company’s plans to develop and commercialise ASLAN004; the safety and efficacy of ASLAN004; the Company’s plans and expected timing with respect to clinical trials and clinical trial results for ASLAN004; the potential for ASLAN004 as a differentiated treatment for atopic dermatitis; and the Company’s belief that its cash and cash equivalents will be sufficient to fund operations into 2023. The Company’s estimates, projections and other forward-looking statements are based on management's current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and inherently involve significant known and unknown risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of many risks and uncertainties, which include, unexpected safety or efficacy data observed during preclinical or clinical studies; clinical site activation rates or clinical trial enrolment rates that are lower than expected; the impact of the COVID-19 pandemic on the Company’s business and the global economy; general market conditions; changes in the competitive landscape; and the Company’s ability to obtain sufficient financing to fund its strategic and clinical development plans. Other factors that may cause actual results to differ from those expressed or implied in such forward-looking statements are described in the Company’s US Securities and Exchange Commission filings and reports (Commission File No. 001-38475), including the Company’s Annual Report on Form 20-F filed with the US Securities and Exchange Commission on April 23, 2021
All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections, and other forward-looking statements. Estimates, projections, and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement.
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