LianBio announced a restructuring with charges of approximately $17.2 million in costs primarily related to employee severance and, in some cases, retention bonuses affecting over 50 full-time employees, or approximately 50% of the Company’s current employee base (reduction in force of over 50 full-time employees, or approximately 50% of the Company’s current employee base, in the f).
“to meet its ongoing operational costs through funds retained after the special dividend. As a result of the wind down, the Company estimates that it will incur approximately $17.2 million in costs primarily related to employee severance and, in some cases, retention bonuses. The Company expects to record a significant portion of these charges in the first half of”
Material Agreements
LianBio terminated License, Development and Commercialization Agreement with Nanobiotix S.A..
“Item 1.02 Termination of a Material Definitive Agreement. The disclosures regarding the Transactions set forth in Item 1.01 above are incorporated by reference into this Item 1.02.”
Material Agreements
LianBio entered into Asset Purchase Agreement with Janssen Pharmaceutica NV valued at $25 million (effective 2023-12-22).
“On December 22, 2023 (the “Closing Date”), LianBio Development (HK) Limited (“LianBio Development”), a subsidiary of LianBio, Janssen Pharmaceutica NV (“Janssen”), a Johnson & Johnson company, and, as applicable, LianBio entered into an Asset Purchase Agreement (the “APA”).”
Ehong Gu was appointed as Interim Chief Financial Officer at LianBio.
“In connection with Ms. Larson’s departure, effective December 19, 2023, the Board appointed Ehong Gu as Interim Chief Financial Officer of the Company, in which role she will act as the Company’s principal financial officer and principal accounting officer.”
Yi Larson resigned as Chief Financial Officer at LianBio.
“Yi Larson, the Company’s Chief Financial Officer, has decided to resign from the Company, effective December 19, 2023, to pursue other business and professional interests and opportunities.”
Yizhe Wang resigned as Chief Executive Officer at LianBio.
“Yizhe Wang, the Company’s Chief Executive Officer and member of the Company’s board of directors (the “Board”), has decided to resign as Chief Executive Officer and as a member of the Board, effective December 16, 2023, to pursue other business and professional interests and opportunities.”
Earnings Releases
LianBio reported the third quarter ended September 30, 2023 results: net income Net loss was $24.0 million for the third quarter of 2023.
“LianBio (Nasdaq: LIAN), a biotechnology company dedicated to bringing innovative medicines to patients in China and other major Asian markets, today reported financial results for the third quarter ended September 30, 2023.”
M&A Transactions
LianBio completed a disposition involving MyoKardia, Inc. and Bristol-Myers Squibb Company for $350 million (closed 2023-10-24).
“Pursuant to the Termination Agreement, LianBio will receive a one-time payment of $350 million as consideration for the Transaction.”
Material Agreements
LianBio terminated License Agreement with MyoKardia, Inc. and Bristol-Myers Squibb Company valued at $350 million (effective 2023-10-24).
“On October 24, 2023 (the “Termination Effective Date”), LianBio entered into a Termination Agreement, dated October 24, 2023 (the “Termination Agreement”), by and among MyoKardia, Inc. (“MyoKardia”) and Bristol-Myers Squibb Company”
Earnings Releases
LianBio reported financial results for the second quarter ended June 30, 2023.
“On August 14, 2023, LianBio (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2023.”
Shareholder Votes
LianBio shareholders approved Ratification of the appointment of KPMG LLP as the independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-06-21 meeting.
“The results of the voting included 105,454,707 votes for, 4,441 votes against and 120,350 votes abstained. There were no broker non-votes regarding this proposal.”
Shareholder Votes
LianBio shareholders approved Election of three Class II directors for a three-year term expiring at the 2026 annual meeting at the 2023-06-21 meeting.
“The number of votes cast for and against and the number of abstentions and broker non-votes with respect to each matter voted upon are set forth below: (a) The election by ordinary resolution of Class II Directors. Director Nominee Votes For Votes Against Abstained Susan Silbermann 104,402,377 1,019,912 157,209 Adam Stone 101,438,464 3,985,530 155,504 Wei Wei Chen 104,439,255 1,014,181 126,062 There were no broker non-votes regarding this proposal.”
Earnings Releases
LianBio reported the first quarter ended March 31, 2023 results: net income $24.0 million.
“Net loss was $24.0 million for the first quarter of 2023 compared to net loss of $27.7 million for the first quarter of 2022.”
Earnings Releases
LianBio reported financial results for the year ended December 31, 2022.
“On March 27, 2023, LianBio issued a press release announcing its financial results for the year ended December 31, 2022.”
Material Agreements
LianBio entered into Commercial Agreement with Pfizer Inc. and ReViral Ltd. valued at $20 million upfront payment, up to $135 million in potential milestones (effective 2022-12-16).
“On December 16, 2022, LianBio Development HK Limited and LianBio Respiratory Limited, each a wholly-owned subsidiary of LianBio (the “Company,” and collectively with LianBio Development HK Limited and LianBio Respiratory Limited, “LianBio”), Pfizer Inc. (“Pfizer”) and ReViral Ltd. (“ReViral,” now a wholly-owned subsidiary of Pfizer) entered into a commercial agreement (the “Commercial Agreement”) with respect to sisunatovir (a fusion inhibitor product for treatment of respiratory syncytial virus (or RSV)) as the first Opted-in Product under the Strategic Collaboration Agreement dated November 17, 2020 by and between the Company and Pfizer (the “Collaboration Agreement”).”
Debra Yu resigned as President and Chief Strategy Officer at LianBio.
“Debra Yu, the Company’s President and Chief Strategy Officer, has decided to resign from the Company, effective January 1, 2023”
Earnings Releases
LianBio reported third quarter ended September 30, 2022 results: net income $21.9 million.
“LianBio (Nasdaq: LIAN), a biotechnology company dedicated to bringing innovative medicines to patients in China and other major Asian markets, today reported financial results for the third quarter ended September 30, 2022 and provided a corporate update.”
Wei Wei Chen was appointed as independent director at LianBio.
“On April 6, 2022, the Board of Directors (the “Board”) of LianBio (the “Company”) appointed Wei Wei Chen as an independent director, effective immediately.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.