主人公生物制药公司 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES For the quarterly period endedMarch 31, 2025 TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934For the transition period fromCommission File No.001-37852 Delaware(State or other jurisdiction ofincorporation or organization) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file period that the registrant was required to submit such files).Yes⌧No◻Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act.Largeacceleratedfiler☒Acceleratedfiler☐Smallerreportingcompany Non-accelerated filer☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). FORM 10-QTABLE OF CONTENTS PARTI FINANCIAL INFORMATION Condensed Consolidated Balance SheetsCondensed Consolidated Statements of Operations Assets Current assets:Cash and cash equivalents$139,653$97,249Marketable securities434,707321,664Receivable from collaboration partner—165,000Contract asset22,825Prepaid expenses and other current assets8,6757,728Total current assets605,860591,641Marketable securities - noncurrent123,517140,252Property and equipment, net3,5303,190Restricted cash - noncurrent225225Operating lease right-of-use asset9,0009,417Total assets$742,132$744,725Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$2,917$1,615Accrued expenses and other payables11,84323,693Deferred revenue16,89518,891Income taxes payable1,8892,689Operating lease liability1,568510Total current liabilities35,11247,398Deferred revenue - noncurrent8,17611,676 35,89311,73847,631 AccumulatedAdditionalOther indication;●$45.0million upon FDA approval of an NDA for a second indication; quotations, or valuation techniques that maximize the use of observable inputs and minimize the useof unobservable inputs to the extent possible and considers counterparty credit risk in its assessment AmortizedGrossUnrealizedCostGainsLossesFairValueMoney market funds$26,896$—$—$26,896Certificates of deposit23,0757(3)23,079 Classified as:Cash equivalents Marketable securities - current434,707Marketable securities - noncurrent123,517Total cash equivalents and marketablesecurities$680,737 CostGainsLossesFairValueMoney market funds$19,563$—$—$19,563Certificates of deposit15,82022(7)15,835 Total cash equivalents and marketablesecurities$548,123$582$(553)$548,152Classified as:Cash equivalents$86,236Marketable securities - current321,664Marketable securities - noncurrent140,252Total cash equivalents and marketablesecurities$548,152 likely than not that the Company will be required to sell its securities before recovery of theiramortized cost basis, which may be at maturity.During the three months ended March 31, 2025, the Company sold $7.0million of due to credit-related factors and determined that there werenocredit-related losses to be recognizedas of March 31, 2025 and December 31, 2024. Prepaid Expenses and Other Current Assets placement, the Company issued the Investors warrants to purchase an aggregate of2,750,000sharesof its common stock (each, a “Warrant” and, collectively, the “Warrants”). Each Warrant was warrants representing the same number of Warrant Shares underlying the Warrants with an exerciseprice of $0.001per share (the “Pre-Funded Warrants”). Subsequent to the execution of the agreementsand prior to the expiration of the Warrants, all outstanding Warrants were exercised for gross Pre-Funded Warrants will expire on the day they are exercised in full. The Pre-Funded Warrants areexercisable at any time prior to expiration except that the Pre-Funded Warrants cannot be exercised by the Investors if, after giving effect thereto, the Investors would beneficially own more than9.99%of the Company’s common stock, subject to certain exceptions. In accordance with ASC Topic 260,“Earnings Per Share”, outstanding Pre-Funded Warrants are included in the computation of basic net(loss) income per share because the exercise price is negligible, and they are fully vested andexercisable after the original issuance date.NoPre-Funded Warrants were exercised during the threemonths ended March 31, 2025. During the three months ended March 31, 2024, Pre-Funded Warrants Noincome tax expense was recorded by the Company for the three months ended March 31,2025. The Company recorded income tax expense of $3.