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WuXi Innolux Announces 2020 Annual Results

 Last Update: 2021-07-13
 Source: Internet
 Author: User

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In December 2020, at the 62nd Annual Meeting of the American Society of Hematology, we announced the safety and efficacy data of relma-cel as a third-line therapy for DLBCL in a Phase II registered clinical trial
- R&D expenses increased by RMB 89.
  1 million from RMB 136 million for the year ended December 31, 2019 to RMB 225 million for the year ended December 31, 2020, mainly due to the increase in R&D staff costs and related clinical Research activities (including ongoing third-line DLBCL clinical trials) and relma-cel indications (such as FL, MCL and second-line DLBCL) resulting in increased testing and clinical costs
  .
- General and administrative expenses increased by RMB 158 million from RMB 72.
  9 million for the year ended December 31, 2019 to RMB 231 million for the year ended December 31, 2020, mainly due to the allocation of general and administrative expenses Share-based compensation increased by RMB 104 million and RMB 35.
  6 million in listing expenses related to our listing on the Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange, China) recognized and deducted in the consolidated income statement in November 2020 Yuan
  .
- For the year ended December 31, 2020, we incurred sales expenses of RMB 13.
  3 million, while it was zero for the year ended December 31, 2019.
  The reason was that we built ahead of schedule due to the expected commercialization of relma-cel in 2021.
  Sales and marketing team
  .
- Loss for the year increased from RMB 633 million for the year ended December 31, 2019 by RMB 1.
  031 billion to RMB 1.
  664 billion for the year ended December 31, 2020, mainly due to losses from changes in the fair value of preferred stocks and operating losses The increase was partially offset by the decrease in the fair value loss of the warrants
  .
  Changes in the fair value of preferred stocks and warrants are a one-time non-cash adjustment in accordance with International Financial Reporting Standards (International Financial Reporting Standards) requirements for our listing on the Hong Kong Stock Exchange of China
  .

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