Adlai Nortye (ANL) Registration filing summary

Company overview and business model

• Global clinical-stage company focused on innovative cancer therapies, leveraging R&D in the U.S. and China.

• Pipeline targets RAS-driven cancers and next-generation immunotherapies, with lead candidates including AN9025, AN4035, AN8025, AN4005, and AN0025.

• Operations structured through a Cayman Islands holding company with subsidiaries in the U.S., China, and other jurisdictions.

• Strategic collaborations with ASK Pharm, Biotime, WuXi Biologics, and Eisai to expand development and commercialization.

Financial performance and metrics

• Raised approximately $140 million in February 2026 and $150 million in April 2026 through private placements.

• Eligible for milestone and royalty payments from licensing agreements, including up to RMB 1.6 billion from ASK Pharm and up to RMB 835 million from Biotime.

Use of proceeds and capital allocation

• Net proceeds from securities sales intended for general corporate purposes, including capital expenditures, working capital, and business opportunities.

• No proceeds will be received from the resale of securities by selling shareholders.