Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2021 |
Entity Registrant Name | ASLAN Pharmaceuticals Ltd |
Entity Central Index Key | 0001722926 |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
CURRENT ASSETS | ||
Cash and cash equivalents (Note 6) | $ 94,120,158 | $ 14,324,371 |
Other receivables (Note 14) | 0 | 528,841 |
Prepayments | 615,212 | 511,208 |
Financial assets at fair value through profit or loss (Notes 7 and 20) | 137,926 | |
Total current assets | 94,735,370 | 15,502,346 |
NON-CURRENT ASSETS | ||
Investment in associate company (Note 8 and Note 9) | 818,560 | 0 |
Property, plant and equipment, net | 8,678 | 13,387 |
Right-of-use assets | 330,148 | 462,550 |
Intangible assets | 12,016 | 160 |
Refundable deposits | 120,050 | 103,307 |
Total non-current assets | 1,289,452 | 579,404 |
TOTAL ASSETS | 96,024,822 | 16,081,750 |
CURRENT LIABILITIES | ||
Trade payables | 2,046,787 | 2,319,558 |
Other payables (Notes 10 and 17) | 2,791,630 | 4,280,409 |
Current borrowings (Notes 11 and 19) | 2,900,971 | |
Current borrowings from related parties (Notes 11, 19 and 21) | 617,912 | |
Lease Liabilities – current | 281,309 | 271,624 |
Financial liabilities at fair value through profit or loss (Notes 7 and 20) | 267,000 | |
Total current liabilities | 5,119,726 | 10,657,474 |
NON-CURRENT LIABILITIES | ||
Long-term borrowings (Notes 11 and 19) | 15,214,780 | 15,183,421 |
Lease Liabilities – non-current | 63,322 | 281,149 |
Other non-current liabilities (Note 17) | 272,242 | 111,990 |
Total non-current liabilities | 15,550,344 | 15,576,560 |
TOTAL LIABILITIES | 20,670,070 | 26,234,034 |
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY | ||
Ordinary shares (Note 13) | 63,013,589 | 61,826,237 |
Capital surplus | 220,352,368 | 123,582,460 |
Accumulated deficits | (207,832,257) | (195,682,714) |
Other reserves | (178,948) | (178,948) |
Total (deficit) equity attributable to stockholders of the Company | 75,354,752 | (10,452,965) |
NON-CONTROLLING INTERESTS | 300,681 | |
Total (deficit) equity | 75,354,752 | (10,152,284) |
TOTAL LIABILITIES AND EQUITY | $ 96,024,822 | $ 16,081,750 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Of Comprehensive Income [Abstract] | ||
COST OF REVENUE | ||
GROSS PROFIT | ||
OPERATING EXPENSES (Notes 12, 14 and 17) | ||
General and administrative expenses | $ (6,893,836) | (2,788,423) |
Research and development expenses | (7,795,493) | (4,247,175) |
Total operating expenses | (14,689,329) | (7,035,598) |
LOSS FROM OPERATIONS | (14,689,329) | (7,035,598) |
NON-OPERATING INCOME AND EXPENSES | ||
Other income (Note 14) | 340,076 | 0 |
Interest income | 157 | 216 |
Gain on dilution of subsidiary and recognition of associate (Note 8) | 2,307,735 | |
Other gains and losses | 319,636 | 391,435 |
Finance costs (Note 14) | (614,902) | (677,637) |
Total non-operating income and expenses | 2,352,702 | (285,986) |
Share in losses of associated company, accounted for using equity method | (81,880) | |
LOSS BEFORE INCOME TAX | (12,418,507) | (7,321,584) |
NET LOSS FOR THE PERIOD | (12,418,507) | (7,321,584) |
Items that will not be reclassified subsequently to profit or loss: | ||
Unrealized loss on investments in equity instruments at fair value through other comprehensive income | (74,331) | |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (12,418,507) | (7,395,915) |
NET LOSS ATTRIBUTABLE TO | ||
Stockholders of the Company | (12,149,543) | (7,005,889) |
Non-controlling interests | (268,964) | (315,695) |
NET LOSS FOR THE PERIOD | (12,418,507) | (7,321,584) |
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO | ||
Stockholders of the Company | (12,149,543) | (7,080,220) |
Non-controlling interests | (268,964) | (315,695) |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | $ (12,418,507) | $ (7,395,915) |
LOSS PER ORDINARY SHARE / EQUIVALENT ADS | ||
Basic and diluted | $ (0.04) | $ (0.04) |
American Depositary Share [Member] | ||
LOSS PER ORDINARY SHARE / EQUIVALENT ADS | ||
Basic and diluted | $ (0.20) | $ (0.20) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Equity - USD ($) | Total | Ordinary Shares | Capital Surplus | Capital SurplusOrdinary Shares | Capital SurplusShare Options Reserve | Capital SurplusOther | Accumulated Deficits | Unrealized Valuation Loss on Financial Assets at Fair Value Through Other Comprehensive Income | Non-controlling Interests |
Beginning balance at Dec. 31, 2019 | $ (603,274) | $ 61,366,844 | $ 116,495,710 | $ 108,800,191 | $ 6,274,591 | $ 1,420,928 | $ (179,484,825) | $ (55,084) | $ 1,074,081 |
Beginning balance, Number of ordinary shares at Dec. 31, 2019 | 189,954,970 | ||||||||
Net loss | (7,321,584) | (7,005,889) | (315,695) | ||||||
Other comprehensive loss, net of income tax | (74,331) | (74,331) | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (7,395,915) | (7,005,889) | (74,331) | (315,695) | |||||
Ending balance at Jun. 30, 2020 | (7,999,189) | $ 61,366,844 | 116,495,710 | 108,800,191 | 6,274,591 | 1,420,928 | (186,490,714) | (129,415) | 758,368 |
Ending balance, Number of ordinary shares at Jun. 30, 2020 | 189,954,970 | ||||||||
Ending balance at Jun. 30, 2021 | 75,354,752 | $ 63,013,589 | 220,352,368 | 212,841,825 | 7,465,964 | 44,579 | (207,832,257) | (178,948) | 0 |
Ending balance, Number of ordinary shares at Jun. 30, 2021 | 348,086,060 | ||||||||
Beginning balance at Dec. 31, 2020 | (10,152,284) | $ 61,826,237 | 123,582,460 | 115,754,741 | 6,406,791 | 1,420,928 | (195,682,714) | (178,948) | 300,681 |
Beginning balance, Number of ordinary shares at Dec. 31, 2020 | 209,675,470 | ||||||||
Issuance of new share capital (Note 13) | 101,555,708 | $ 1,167,371 | 100,388,337 | 100,388,337 | |||||
Issuance of new share capital (Note 13), shares | 136,412,540 | ||||||||
Transaction cost attributable to the issuance of ordinary shares | (4,576,671) | (4,576,671) | (4,576,671) | ||||||
Issuance of ordinary shares under employee share option plan | 214,500 | $ 5,725 | 208,775 | 714,275 | (505,500) | ||||
Issuance of ordinary shares under employee share option plan, share | 572,500 | ||||||||
Warrants exercised | 575,399 | $ 14,256 | 561,143 | 561,143 | |||||
Warrants exercised ,shares | 1,425,550 | ||||||||
Recognition of employee share options by the Company | 1,564,673 | 1,564,673 | 1,564,673 | ||||||
Net loss | (12,418,507) | (12,149,543) | (268,964) | ||||||
Non-controlling interests derecognized due to dilution of subsidiary (Note 8) | (31,717) | (31,717) | |||||||
Other comprehensive income due to dilution of subsidiary (Note 8) | (1,376,349) | (1,376,349) | (1,376,349) | ||||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (12,418,507) | (12,149,543) | (268,964) | ||||||
Ending balance at Jun. 30, 2021 | $ 75,354,752 | $ 63,013,589 | $ 220,352,368 | $ 212,841,825 | $ 7,465,964 | $ 44,579 | $ (207,832,257) | $ (178,948) | $ 0 |
Ending balance, Number of ordinary shares at Jun. 30, 2021 | 348,086,060 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Loss before income tax | $ (12,418,507) | $ (7,321,584) |
Adjustments for: | ||
Depreciation expenses | 141,321 | 149,043 |
Amortization expenses | 504 | 1,957 |
Net loss (gain) on fair value changes of financial assets at fair value through profit or loss | (129,075) | 9,254 |
Finance costs | 614,902 | 677,637 |
Interest income | (157) | (216) |
Compensation costs recognized of share-based payment transactions | 2,329,874 | 166,992 |
Gain on dilution of subsidiary and recognition of associate | (2,307,735) | |
Share of loss of associates accounted for using equity method | 81,880 | |
Gain on disposal of property, plant and equipment | (359) | |
Unrealized gain on foreign exchange, net | (192,176) | (390,055) |
Changes in operating assets and liabilities | ||
Increase in other receivables | 528,841 | |
Increase in prepayments | (104,004) | (226,279) |
Decrease in trade payables | (272,771) | (461,297) |
Decrease in other payables | (1,531,218) | (831,765) |
Cash used in operations | (13,258,321) | (8,226,672) |
Interest received | 157 | 216 |
Interest paid | (1,223,529) | (20,125) |
Income tax paid | 0 | 0 |
Net cash used in operating activities | (14,481,693) | (8,246,581) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Payments for property, plant and equipment | (4,211) | |
Acquisition of intangible assets | (12,360) | |
Proceeds from disposal of property, plant and equipment | 359 | |
Decrease (Increase) in refundable deposits | (16,743) | |
Net cash generated from (used in) investing activities | (33,314) | 359 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment on long term borrowings | (3,250,000) | |
Repayment of the principal portion of lease liabilities | (208,142) | (129,365) |
Proceeds with new share capital | 101,555,708 | |
Proceeds from exercise of loan warrants | 575,399 | |
Proceeds from exercise of share options | 214,500 | |
Payments for transaction costs attributable to the issuance of ordinary shares | (4,576,671) | |
Net cash generated in financing activities | 94,310,794 | (129,365) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | 79,795,787 | (8,375,587) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 14,324,371 | 22,203,031 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | $ 94,120,158 | $ 13,827,444 |
General Information
General Information | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group [Abstract] | |
General Information | 1. GENERAL INFORMATION ASLAN Pharmaceuticals Limited (“ASLAN Cayman”) was incorporated in the Cayman Islands in June 2014 and is the listing vehicle for the listing on the Nasdaq Global Market sponsored with its issuance of American Depositary Shares (“ADSs”) in the United States. ASLAN Cayman and its subsidiaries (collectively referred to as the “Company”) is a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients. The Company’s portfolio is led by ASLAN004, a potential first-in-class IL-13 a (IL-13R a pro-inflammatory IL-4 IL-13 ASLAN Pharmaceuticals Pte. Ltd. was incorporated in Singapore in April 2010 and ASLAN Pharmaceuticals Limited was incorporated in Cayman Islands in June 2014 as the listing vehicle. The Company’s ADSs have been listed on the Nasdaq Global Market since May 2018. The Company has financed its operations to date primarily through the issuance of common shares. The Company has incurred net losses since inception. Please refer to Note 18 for details of the Company’s current fund raising activities. On October 15, 2019, the Company established a joint venture with Bukwang Pharmaceutical Co., Ltd., a leading research and development focused Korean pharmaceutical company, to develop antagonists of the aryl hydrocarbon receptor (AhR). The Company owned a controlling stake 55% of the joint venture entity, which is called Jaguahr Therapeutics Pte. Ltd, before the second tranche of investment was completed by Bukwang Pharmaceutical Co., Ltd. on April 28, 2021 resulting in a dilution of the Company’s shareholding from 55% to 35% and the loss of control of Jaguahr Therapeutics Pte. Ltd., which accordingly ceased to be a subsidiary. Please refer to Notes 8 and Note 9 for details. Both the reporting and functional currency of the Company is the U.S. dollar. |
Approval of Financial Statement
Approval of Financial Statements | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax [Abstract] | |
Approval of Financial Statements | 2. APPROVAL OF FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements were approved by the Company’s Audit Committee on August 6, 2021. |
Application of New Amended and
Application of New Amended and Revised Standards and Interpretations | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Initial Application Of Standards Or Interpretations [Abstract] | |
Application of New Amended and Revised Standards and Interpretations | 3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS a. Amendments to the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) mandatorily effective for the current year. The Company has applied the amendments to IFRSs including Phase 2 amendments ‘Interest Rate Benchmark Reform: Amendments to IFRS 9 “Financial Instruments” “Financial Instruments: Recognition and Measurement” “Financial Instruments” “Leases” which were issued by the IASB in August 2020 for the annual period that began on or after The application of these amendments has had no impact on the disclosures or amounts recognized in the Company’s condensed consolidated financial statements. b. New and revised IFRSs issued but not yet effective Of the new, amended and revised standards and interpretations (collectively the “New IFRSs”) that have been issued but are not yet effective, the Company has not applied the following. New IFRSs Effective Date Announced by IASB (Note 1) “Annual Improvements to IFRS Standards 2018–2020” January 1, 2022 (Note 2) Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 (Note 3) Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” Effective immediately upon promulgation by the IASB Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” To be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment - Proceeds before Intended Use” January 1, 2022 (Note 4) Amendments to IAS 37 “Onerous Contracts–Cost of Fulfilling a Contract” January 1, 2022 (Note 5) Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on or after their respective effective dates. Note 2: The amendments to IFRS 9 are applied prospectively to modifications and exchanges of financial liabilities that occur on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IFRS 1 “First-time Adoptions of IFRSs” are applied retrospectively for annual reporting periods beginning on or after January 1, 2022. Note 3: The amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2022. Note 4: The amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2022. Note 5: The amendments are applicable to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022. As of the date the condensed consolidated financial statements were authorized for issue, the Company is continuously assessing the possible impact that the application of other standards and interpretations will have on the Company’s financial position and financial performance and will disclose the relevant impact when the assessment is completed. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Statement of compliance The condensed consolidated financial statements have been prepared in accordance with IAS 34 “ Interim Financial Reporting b. Basis of preparation The condensed consolidated financial statements have been prepared on the historical cost basis except for financial instruments and other payable arising from cash-settled share-based payment arrangements which are measured at fair value. c. Basis of consolidation The condensed consolidated financial statements include the financial statements of the ASLAN Cayman and entities controlled by ASLAN Cayman (its subsidiaries). When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Company are eliminated on consolidation. d. Other significant accounting policies Except as described below, the accounting policies applied in these condensed consolidated financial statements are the same as those applied in the Company’s consolidated financial statements as at and for the year ended December 31, 2020. Basis of consolidation When the Company loses control of a subsidiary, the gain or loss on disposal recognised in profit or loss is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), less liabilities of the subsidiary and any non-controlling interests. All amounts previously recognised in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred to another category of equity as required/permitted by applicable IFRS Standards). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 when applicable, or the cost on initial recognition of an investment in an associate or a joint venture. Associates An associate is an entity over which the Company has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The results and assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5 “ Non-current Assets Held for Sale and Discontinued Operations ”. Under the equity method, an investment in an associate is initially recognised in the consolidated statement of financial position at cost and adjusted thereafter to recognise the Company’s share of the profit or loss and other comprehensive income of the associate. When the Company’s share of losses of an associate exceeds the Company’s interest in that associate (which includes any long-term interests that, in substance, form part of the Company’s net investment in the associate), the Company discontinues recognising its share of further losses. Additional losses are recognised only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment in an associate, any excess of the cost of the investment over the Company’s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included within the carrying amount of the investment. Any excess of the Company’s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. The requirements of IAS 36 Impairment of assets The Company discontinues the use of the equity method from the date when the investment ceases to be an associate. When the Company retains an interest in the former associate and the retained interest is a financial asset, the Company measures the retained interest at fair value at that date and the fair value is regarded as its fair value on initial recognition in accordance with IFRS 9. The difference between the carrying amount of the associate at the date the equity method was discontinued, and the fair value of any retained interest and any proceeds from disposing of a part interest in the associate is included in the determination of the gain or loss on disposal of the associate. In addition, the Company accounts for all amounts previously recognised in other comprehensive income in relation to that associate on the same basis as would be required if that associate had directly disposed of the related assets or liabilities. Therefore, if a gain or loss previously recognised in other comprehensive income by that associate would be reclassified to profit or loss on the disposal of the related assets or liabilities, the Company reclassifies the gain or loss from equity to profit or loss (as a reclassification adjustment) when the associate is disposed off. When the Company reduces its ownership interest in an associate but the Company continues to use the equity method, the Company reclassifies to profit or loss the proportion of the gain or loss that had previously been recognised in other comprehensive income relating to that reduction in ownership interest if that gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities. When a Company entity transacts with an associate of the Company, profits and losses resulting from the transactions with the associate are recognised in the Company’s consolidated financial statements only to the extent of interests in the associate that are not related to the Company. The Company applies IFRS 9, including the impairment requirements, to long-term interests in an associate to which the equity method is not applied and which form part of the net investment in the investee. Furthermore, in applying IFRS 9 to long-term interests, the Company does not take into account adjustments to their carrying amount required by IAS 28 (i.e. adjustments to the carrying amount of long-term interests arising from the allocation of losses of the investee or assessment of impairment in accordance with IAS 28. |
Critical Accounting Judgments a
Critical Accounting Judgments and Key Sources of Estimation Uncertainty | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Accounting Judgements And Estimates [Abstract] | |
Critical Accounting Judgments and Key Sources of Estimation Uncertainty | 5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In applying the Company’s accounting policies, which are described in Note 4, the directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognized and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised if the revisions affect only that period or in the period of the revisions and future periods if the revisions affect both current and future periods. For the critical accounting judgments and key sources of estimation uncertainty and assumption applied in the condensed consolidated financial statements, refer to the consolidated financial statements for the year ended December 31, 2020. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2021 | |
Cash and cash equivalents [Abstract] | |
Cash and Cash Equivalents | 6. CASH AND CASH EQUIVALENTS December 31, June 30, 2021 Cash on hand $ 1,709 $ 647 Deposits in banks 14,322,662 94,119,511 $ 14,324,371 $ 94,120,158 As disclosed in Note 13, the Company has raised million (net proceeds) and from the issuance of ADSs in the 6 months period ended June 30, 2021 and 2020 respectively. |
Financial Instruments at Fair V
Financial Instruments at Fair Value Through Profit or Loss | 6 Months Ended |
Jun. 30, 2021 | |
Financial Assets At Fair Value Through Profit Or Loss [Abstract] | |
Financial Instruments at Fair Value Through Profit or Loss | 7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS December 31, June 30, Financial assets at fair value through profit and loss (FVTPL) - current Financial assets classified as at FVTPL Derivative financial assets – pre-redemption $ 137,926 $ — Financial assets at fair value through profit and loss (FVTPL) - current Financial liabilities at FVTPL Derivative financial liabilities - conversion right (a)/(b) $ 267,000 $ — a. On October 25, 2019, the Company entered into a loan facility agreement with warrants and was entitled to repay at any time prior to expiry of the term, as detailed in Note 11 (under the heading of “October/November 2019 Loan Facility”). b. On September 30, 2019, the Company entered into a convertible loan facility, as detailed in Note 11 (under the heading of “Convertible Loan Facility”). |
Details of Subsidiaries that ha
Details of Subsidiaries that have Material Non-Controlling Interests | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Significant Investments In Subsidiaries [Abstract] | |
Details of Subsidiaries that have Material Non-Controlling Interests | 8. DETAILS OF SUBSIDIARIES THAT HAVE MATERIAL NON-CONTROLLING On October 15, 2019, the Company established a joint venture with Bukwang Pharmaceutical Co., Ltd., a leading research and development focused Korean pharmaceutical company, to develop antagonists of the aryl hydrocarbon receptor (AhR). The Company at that time owned a controlling stake 55% of the joint venture entity, which is called Jaguahr Therapeutics Pte. Ltd. Details of the subsidiary that have material non-controlling Proportion of Non-controlling Interests Name of Subsidiary Principal Place of Business December 31, June 30, Jaguahr Therapeutics Pte. Ltd. Singapore 45 % 65 %* Profit (Loss) Allocated to Non-controlling Interests Accumulated Non-controlling interests For the Year Ended June 30 2020 2021 December 31, June 30, 2021 Name of Subsidiary Jaguahr Therapeutics Pte. Ltd. $ (315,695 ) $ (332,400 ) $ 300,681 $ — * On April 28, The summarized Jaguahr Therapeutics Pte. Ltd. financial information below represents amounts before intragroup eliminations. December 31 , June 30 , 2021 Current assets $ 807,560 $ 2,277,244 Current liabilities (139,378 ) (81,669 ) Equity $ 668,182 $ 2,195,575 Equity attributable to: Stockholders of the Company $ 367,501 $ 768,451 Non-controlling 300,681 1,427,124 $ 668,182 $ 2,195,575 For the Period June 30 2020 2021 Revenue $ — $ — Loss for the year, representing total comprehensive loss for the year $ (701,545 ) $ (972,608 ) Attributable to: Stockholders of the Company $ (385,850 ) $ (621,764 ) Share of losses of associates (Note 9) — (81,880 ) Non-controlling (315,695 ) (268,964 ) $ (701,545 ) $ (972,608 ) The Company transferred the global rights to all of the assets related to AhR technology, into Jaguahr Therapeutics Pte. Ltd (“JAGUAHR”). Subject to the fulfilment of certain conditions, Bukwang agreed to invest $5.0 million in JAGUAHR in two tranches to fund the development of the assets, identify a lead development compound and file an Investigational New Drug (IND) application (JV Agreement). The first tranche of $2.5 million was received by JAGUAHR from Bukwang in October 2019. On March 23, 2021, an Amendment to the JV Agreement was executed. Pursuant to the amended JV Agreement, the second tranche of million became payable to JAGUAHR in exchange for 80,000 new shares upon approval by its joint steering committee of an amended research plan, timeline and budget, to complete the additional research required to nominate a candidate drug. On April 28, 2021, the second tranche of The Company has retained a significant influence over JAGUAHR, resulting in an equity accounted associate being recognized as disclosed in Note 9. non-controlling of the fair value of net identifiable assets of JAGUAHR at the date of the dilution being recognized for the six months ended June 30, 2021. Until the Investigational New Drug (IND) application is filed, ASLAN Pharmaceuticals Pte. Ltd. retains the right to offer to purchase, and, upon valid exercise to buy back all or part of the equity held by Bukwang at a price equal to three times the amount invested by Bukwang upon receiving Bukwang’s acceptance notice. |
Investment in Associate Company
Investment in Associate Company | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of associates [abstract] | |
Investment in Associate Company | 9. INVESTMENT IN ASSOCIATE COMPANY Movements in investment in associate company are as follows: December 31, June 30, Beginning balance $ — $ — Unquoted equity shares at fair value of identifiable assets — 900,440 Share of losses of associates — (81,880 ) Ending balance $ — $ 818,560 Set out below are the investment in associate s Name of associated company Principal activities Country of incorporation Equity June 30, % Jaguahr Therapeutics Pte. Ltd. New drug research and development Singapore 35 Details of associates Please refer to Note 8 on the summarized financial information in respect of the Company’s material associate, Jaguahr Therapeutics Pte. Ltd. |
Other Payables
Other Payables | 6 Months Ended |
Jun. 30, 2021 | |
Trade And Other Payables [Abstract] | |
Other Payables | 10. OTHER PAYABLES December 31, June 30, 2021 Payables for cash-settled share-based payment transactions (Note 17) $ 1,073,593 $ 1,429,303 Payables for salaries and bonuses 1,492,325 691,768 Interest payables 735,510 171,263 Payables for professional fees 837,803 448,709 Others 141,178 50,587 $ 4,280,409 $ 2,791,630 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2021 | |
Borrowings [abstract] | |
Borrowings | 11. BORROWINGS December 31, June 30, 2021 Long-term borrowings – Unsecured Loans from government $ 7,494,665 $ 7,366,882 Other long-term borrowings 4,060,357 4,060,357 Interest payables 3,628,399 3,787,541 $ 15,183,421 $ 15,214,780 Current borrowings - Unsecured Loans from shareholders $ 2,571,701 $ — Interest payables 329,270 — $ 2,900,971 $ — Current borrowings from related parties - Unsecured Loans from related parties $ 550,000 $ — Interest payables 67,912 — $ 617,912 $ — a. Loans from government On April 27, 2011, the Singapore Economic Development Board (EDB) awarded the Company a repayable grant (the “Grant”) not exceeding SGD10 million to support the Company’s drug development activities over a five-year qualifying period commencing February 24, 2011 (the “Project”). The Project was successfully implemented, resulting in substantially the full amount of the Grant being disbursed to the Company. In the event any of the Company’s clinical product candidates achieve commercial approval after Phase 3 clinical trials, the Company will be required to repay the funds disbursed to the Company under the Grant plus interest of 6%. Until the Company has fulfilled its repayment obligations under the Grant, the Company has ongoing update and reporting obligations to the EDB. In the event the Company breaches any of its ongoing obligations under the Grant, EDB can revoke the Grant and demand that the Company repay the funds disbursed to the Company under the Grant. There were no breaches as of December 31, 2020 and June 30, 2021. As of December 31, 2020 and June 30, 2021, the amounts of funds disbursed to the Company plus accrued interest were $11,123,065 and $11,154,423, respectively. b. Other long-term borrowings CSL Finance Pty Ltd. On May 12, 2014, ASLAN Pharmaceuticals Pte. Ltd. obtained a loan facility of $4.5 million from CSL Finance Pty Ltd. The amount was based on 75% of research and development costs approved by CSL Finance Pty Ltd. at each drawdown period. The loan is repayable within 10 years from the date of the facility agreement. Interest on the loan is computed at 6% plus LIBOR and is payable on a quarterly basis. Mandatory prepayment of the loan is required upon a successful product launch occurring before maturity of the loan. As of December 31, 2020 and June 30, 2021, the aggregate carrying amount including principal and accrued interest outstanding under CSL Loan Facility were $4,795,867 and $4,231,620, respectively. The CSL loan including principal and accrued interest was repaid on July 13, 2021. Please refer to Note 24 for details. Convertible Loan Facility On September 30, 2019, the Company entered into a loan facility with Bukwang Pharmaceutical Co., Ltd., for an amount of $1.0 million (the “September 2019 Loan Facility”). The September 2019 Loan Facility has a two-year 7- On March 29, 2021, the Company exercised the early pre-redemption October/November 2019 Loan Facility On October 25, 2019, the Company entered into a loan facility with certain existing stockholders/directors, or affiliates thereof, and on November 11, 2019 the Company entered into a related loan facility with the affiliate of another existing stockholder, for an aggregate amount of $2.25 million (collectively, the “October/November 2019 Loan Facility”). The October/November 2019 Loan Facility has a two-year In the event that the Company in a single re-financing re-financing In 2019, the Company drew down on $2.25 million under the loan facilities. In connection with the October/November 2019 Loan Facility, the Company issued warrants (collectively referred to as the “Warrants”). These Warrants entitle lenders optionally to purchase shares up to a maximum of 50% of the principal loan amount, at an exercise price of $2.02 per ADS. The Warrants are exercisable only after the Company’s ordinary shares have been delisted from TPEx, and will expire on the earlier of (i) the first anniversary of such TPEx delisting to be August 25, 2021 or (ii) expiry of the term of the October/November 2019 Loan Facility. The Company was entitled to repay all or part of the loans at any time prior to expiry of the term and Company evaluated the pre-redemption right as derivative financial assets as disclosed in Note 7. On March 22, 2021, the Company exercised the early pre-redemption right and repaid the October/November 2019 Loan Facility in full including accrued interest. At the same time, holders of Warrants amounting to of the principal loan amount, purchased 1,425,550 ordinary shares (representing 285,110 ADSs) at an exercise price of per ADS. c. Unsecured borrowings from related parties The terms of the unsecured borrowings from related parties are the same as the terms of the October/November 2019 Loan Facility as disclosed in 11.b above. On March 29, 2021, the Company exercised the early pre-redemption right and repaid the unsecured borrowings from related parties, including accrued interest and derecognized the derivative financial instruments. |
Retirement Benefit Plans
Retirement Benefit Plans | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Retirement Benefit Plans | 12. RETIREMENT BENEFIT PLANS Defined Contribution Plans ASLAN Pharmaceuticals Pte. Ltd. adopted a defined contribution plan, which is a post-employment benefit plan, under which ASLAN Pharmaceuticals Pte. Ltd. pays fixed contributions into the Singapore Central Provident Fund on a mandatory basis. ASLAN Pharmaceuticals Pte. Ltd. has no further payment obligations once the contributions have been paid. The contributions are recognized as “employee compensation expenses” when they are due. For the six months ended June 30, 2020 and 2021, the total expense for such employee benefits in the amount of $123,693 and $121,676 were recognized, respectively. |
Equity
Equity | 6 Months Ended |
Jun. 30, 2021 | |
Equity [abstract] | |
Equity | 13. EQUITY Ordinary shares December 31, June 30, 2021 Number of ordinary shares authorized 500,000,000 500,000,000 Authorized par value of per share $ 0.01 $ 0.01 Number of ordinary shares issued and fully paid 209,675,470 348,086,060 Number of equivalent ADSs issued and fully paid 41,935,094 69,617,212 Amount of ordinary shares authorized $ 5,000,000 $ 5,000,000 Amount of share capital par value issued and fully paid $ 61,826,237 $ 63,013,589 Amount of share capital surplus issued and fully paid $ 115,754,741 $ 212,841,825 Issuance of new ADSs In February 2021, the Company sold 25,568,180 ordinary shares (the equivalent of 5,113,636 ADSs) in a private placement for net proceeds of approximately $18.0 million pursuant to a securities purchase agreement the Company entered into with the purchasers in the private placement (the Securities Purchase Agreement). In March 2021, the Company sold 17,250,000 ADSs representing 86,250,000 ordinary shares in an underwritten public offering for net proceeds of $64.9 million after deducting underwriting discounts and commissions and offering expenses. As disclosed in Note 11b, the share capital was increased when holders of Warrants amounting to of the principal loan amount of the October/November 2019 Loan Facility, purchased 1,425,550 ordinary shares (representing 285,110 ADSs) at an exercise price of per ADS. As of June 30, 2021, the Company had raised total net proceeds issuing ADSs) under the ATM Sales Agreement of which 3,953,985 ADSs were issued from October 9, 2020 through December 31, 2020 for net proceeds of ADSs were issued in the six months period ended June 30, 2021, for net proceeds of C apital surplus Capital surplus represents the premium of fully paid outstanding shares issued over the authorized par value of per share. As of June 30, 2021, the share capital surplus issued and fully paid has increased to $212,841,825 from $115,754,741 as of December 31, 2020 due to the issuance of ADSs during the period as described above. |
Loss Before Income Tax
Loss Before Income Tax | 6 Months Ended |
Jun. 30, 2021 | |
Profit (loss) [Abstract] | |
Loss Before Income Tax | 14. LOSS BEFORE INCOME TAX a. General and administrative expenses June 30, 2020 June 30, 2021 General and administrative expenses $ 2,788,423 $ 6,893,836 General and administrative expenses primarily related to employee expenses, professional fees and indirect offering cost. There were no changes in the nature of general and administrative expenses other than the increased expenses in headcount and higher professional fees and indirect offering costs relating to the issuance of ADSs for the six months ended June 30, 2021 as disclosed in Note 13. b. Research and development expenses June 30, 2020 June 30, 2021 Research and development expenses $ 4,247,175 $ 7,795,493 Research and development expenses related to preclinical and clinical development work, manufacturing and employee expenses. There were no changes in the nature of research and development expense other than the increased level of Research and development activity for the six months ended June 30, 2021. c. Other income June 30, 2020 June 30, 2021 ADSs issuance contribution $ — $ 309,527 Government subsidies — 21,392 Others — 9,157 $ — $ 340,076 The ADSs issuance contribution constitutes other non-operating income and is receivable from J.P. Morgan Chase Bank N.A., the Custodian and the Depositary under the Company’s ADS program, as part of the issuance of new ADSs issued for the six months ended 30 June 2021. For the six months ended June 30, 2020 and June 30, 2021, the Company recognized non-operating Government subsidies were provided by the Singapore government in 2021 to help employers retain local employees during the COVID-19 pandemic. d. Finance costs For the six months ended 2020 2021 Interest on government loans $ 213,681 $ 223,536 Interest on loans from shareholders and related parties 169,707 204,847 Interest on lease liabilities 20,125 13,330 Other interest expenses 274,124 173,189 $ 677,637 $ 614,902 e. Depreciation and amortization For the six months ended 2020 2021 Right-of-use $ 132,913 $ 132,402 Property, plant and equipment 16,130 8,919 Computer software 1,957 504 $ 151,000 $ 141,825 All depreciation and amortization expenses are recorded as general and administrative expenses for the six months ended June 30, 2020 and 2021. f. Employee benefits expense For the six months ended June 30 2020 2021 Short-term benefits $ 2,042,348 $ 3,255,606 Post-employment benefits (Note 12) 123,693 121,676 Share-based payments (Note 17) Equity-settled — 1,564,673 Cash-settled 166,992 765,201 Total employee benefits expense $ 2,333,033 $ 5,707,156 Employee benefits expense by function General and administrative expenses $ 2,015,024 $ 4,158,710 Research and development expenses 318,009 1,548,446 $ 2,333,033 $ 5,707,156 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax [Abstract] | |
Income Taxes | 15. INCOME TAXES Income Tax Recognized in Profit or Loss For the six months ended 2020 2021 Current tax In respect of the current period $ — $ — The Company has unused tax losses of $151 million for year of assessment 2020 (Year of assessment 2019: $134 million) available for offset against future profits. No deferred tax asset has been recognised in respect of all the unused tax losses as it is not considered probable that there will be future taxable profits available. Subject to qualifying conditions, the unused trade losses can be carried forward indefinitely. a. Cayman Islands ASLAN Cayman is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. b. Singapore ASLAN Pharmaceuticals Pte. Ltd. and Jaguahr Therapeutics Pte. Ltd., incorporated in Singapore, are subject to the statutory corporate income tax rate of 17%. ASLAN Pharmaceuticals Pte. Ltd. and Jaguahr Therapeutics Pte. Ltd. have no taxable income for the six months ended June 30, 2020 and 2021, and therefore, no provision for income tax is required. c. Taiwan ASLAN Pharmaceuticals Taiwan Limited, incorporated in Taiwan, is subject to the statutory corporate income tax rate of 20% and the corporate surtax rate of 5%. d. Australia ASLAN Pharmaceuticals Australia Pty Ltd., incorporated in Australia, is subject to the statutory corporate income tax of 30%. ASLAN Pharmaceuticals Australia Pty Ltd. has no taxable income for the six months ended June 30, 2020 and 2021, and therefore, no provision for income tax is required. e. Hong Kong ASLAN Pharmaceuticals Hong Kong Limited, incorporated in Hong Kong, is subject to the statutory corporate income tax of 16.5%. Under the Hong Kong tax law, ASLAN Pharmaceuticals Hong Kong Limited is exempted from income tax on its foreign derived income and there are no withholding taxes in Hong Kong on the remittance of dividends. ASLAN Pharmaceuticals Hong Kong Limited has no taxable income for the six months ended June 30, 2020 and 2021, and therefore, no provision for income tax is required. f. China ASLAN Pharmaceuticals (Shanghai) Co. Ltd., incorporated in China, is subject to the statutory corporate income tax rate of 25%. ASLAN Pharmaceuticals (Shanghai) Co. Ltd. has no taxable income for the six months ended June 30, 2020 and 2021, and therefore, no provision for income tax is required. g. United States of America ASLAN Pharmaceuticals (USA) Inc., incorporated in Delaware, USA in October 2018, is subject to the statutory federal income tax rate of 21% and state income tax rate of 8.7%. ASLAN Pharmaceuticals (USA) Inc. has no taxable income for the six months ended June 30, 2020 and 2021, and therefore, no provision for income tax is required. |
Loss Per Share
Loss Per Share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Loss Per Share | 16. LOSS PER For the six months ended 2020 2021 Basic and diluted loss per ordinary share $ (0.04 ) $ (0.04 ) Basic and diluted loss per equivalent ADS $ (0.20 ) $ (0.20 ) The loss and weighted-average number of ordinary shares outstanding used in the computation of loss per share are as follows: For the six months ended June 30 2020 2021 Loss used in the computation of basic and diluted loss per share $ (7,005,889 ) $ (12,149,543 ) Weighted-average number of ordinary shares in the computation of basic loss per ordinary share 189,954,970 302,985,377 Weighted-average number of ADSs in the computation of basic loss per ADS 37,990,994 60,597,075 |
Share-Based Payment Arrangement
Share-Based Payment Arrangements | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-Based Payment Arrangements | 17. SHARE-BASED PAYMENT ARRANGEMENTS Employee Share Option Plan Under the Company’s employee share option plan, qualified employees of the Company and its subsidiaries were granted 910,000 options in July 2011, 669,750 options in July 2012, 619,250 options in July 2013, 680,625 options in July 2014, 2,477,336 options in July 2015, 1,032,250 options in July 2016 and 825,833 options in September 2017. The board of directors of the Company, as of July 26, 2016, resolved to double the number of shares underlying each outstanding award granted previously to reflect the subdivision ratio of the share split made in connection with the corporate restructuring of May 27, 2016. The exercise price for each award previously granted was correspondingly adjusted by a decrease of 50%. The modification did not cause any incremental adjustments to the fair value of the granted awards. Each option entitles the holder to subscribe for one ordinary share of the Company. Options granted pursuant to the 2010 to 2016 Plan are either vested in full as of the date of grant or are 25% vested as of the date of grant, with the remaining 75% vesting in equal annual installments over the three years following the date of grant. Options granted pursuant to the 2017 Plan vest in full upon the two year anniversary of the date of grant. On December 10, 2020, the Board of Directors (the “Board”) of the Company approved the Company’s 2020 Equity Incentive Plan (the “2020 EIP”). The 2020 EIP, among other things, provides for the grant of restricted stock awards, stock options and other equity-based awards to employees, officers, directors, and consultants. The maximum number of ordinary shares that may be issued under the 2020 EIP is 20,676,974 ordinary shares (an equivalent of 4,135,395 ADSs Under the Company’s 2020 employee share option plan, qualified employees of the Company and its affiliates were granted options on December 15, 2020, 12,000 options on January 28, 2021, 75,000 options on February 22, 2021, and 75,000 options on March 22, 2021. Each option entitles the holder to subscribe for one ADS of the Company. The options granted are valid for years and exercisable at certain percentages once they have vested Information on employee share options granted from July 2011 to 2016 is as follows. Each option entitles the holder to subscribe for one ordinary share of the Company (1 ADS represents 5 ordinary shares): For the six months ended June 30 2020 2021 Number of Weighted- average Number of Weighted- average Balance at January 1 6,670,356 $ 1.43 6,670,356 $ 1.43 Options forfeited — — — — Options exercised — — (114,500 ) 1.87 Balance at June 30 6,670,356 1.43 6,555,856 1.43 Options exercisable, end of period 6,670,356 1.43 6,555,856 1.43 Information on employee share options granted in September 2017 is as follows. Each option entitles the holder to subscribe for one ordinary share of the Company (1 ADS represents 5 ordinary shares): For the six months ended June 30 2020 2021 Number of Weighted- average Number of Weighted- average Balance at January 1 501,167 $ 1.28 501,167 $ 1.28 Options forfeited — — — — Balance at June 30 501,167 1.28 501,167 1.28 Options exercisable, end of period 501,167 1.28 501,167 1.28 There were no employee share options granted for the six months ended June 30, 2020. Information on employee share options granted in January 2021, February 2021 and March 2021 are as follows. Each option entitles the holder to subscribe for one ADS of the Company: For the six months ended Number of Options Weighted- average Exercise Price Per Option Balance at January 1, 2021 3,824,062 $ 2.06 Options granted 162,000 3.86 Options forfeited (81,000 ) — Balance at June 30, 2021 3,905,062 2.13 Options exercisable, end of period 266,100 2.06 Weighted-average fair value of options granted $ 2.63 Information on outstanding options as of June 30, 2021 is as follows: July 2011 July 2012 July 2013 July 2014 Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) $0.20-$0.80 0.7 $0.80 1.7 $0.80 2.7 $1.36 3.7 July 2015 July 2016 July 2017 December 2020 January-March 2021 Range of Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) $1.36-$1.88 4.7 $2.26 5.7 $1.28 6.9 $2.06 9.59 $2.35-$4.12 9.79 Options granted in July of 2010, 2011, 2012, 2013, 2014, 2015, 2016, September 2017, December 2020, January 2021, February 2021 and March 2021 were priced using the binomial option pricing model, and the inputs to the model were as follows: July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 December 2020 January-March 2021 Grant-date share price $0.80 $1.25 $1.36 $1.36 $1.88 $2.26 $1.28 $2.22 $2.35-$4.12 Exercise price $0.20-$0.80 $0.80 $0.80-$1.36 $1.36 $1.36-$1.88 $2.26 $1.28 $2.06 $2.35-$4.12 Expected volatility 54.26%-54.44% 52.25% 50.58% 50.86% 36.37% 39.34% 38.33% 66.25% 59.99% - 64.92% Expected life (years) 10 10 10 10 10 10 10 10 10 Expected dividend yield — — — — — — — — — Risk-free interest rate 2.96%-3.22% 1.61% 2.5% 2.58% 2.43% 1.46% 1.10% 0.92% 1.07%-1.69% Expected volatility was based on the average annualized historical share price volatility of comparable companies before the grant date. Compensation costs recognized for the six months ended June 30, 2020 and 2021 were $0 and $1,564,673, respectively. Long Term Incentive Plan In 2017, 2018 and 2019, the Company granted ordinary shares bonus entitlement units to the Company’s executive officers pursuant to the 2017 LTIP. Upon vesting and redemption, each unit award is converted into a cash payment equal to the number of units multiplied by the per-share fair market value of the Company’s ordinary shares on the day following the Company’s receipt of a redemption notice. The quoted fair value on the reporting date is based on the closing price per ADS of $2.03 and $1.90 as of December 31, 2019 and December 31, 2020, respectively. The quoted fair value on the reporting date is based on the closing price per ADS of $2 and $3.30 as of June 30, 2020 and June 30, 2021, respectively. The Company’s 2017 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 232,000 215,133 Awards exercised — (13,867 ) Awards forfeited (50,600 ) — Balance at June 30 181,400 201,266 Balance exercisable, end of period 173,400 201,266 The Company’s 2018 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 168,089 142,445 Awards exercised (9,928 ) Awards forfeited (38,466 ) — Balance at June 30 129,623 132,517 Balance exercisable, end of period 56,030 89,309 The Company’s 2019 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 491,020 386,950 Awards forfeited (104,070 ) — Balance at June 30 386,950 386,950 Balance exercisable, end of period — 128,983 Each bonus entitlement unit grants the holders of the LTIPs a conditional right to receive an amount of cash equal to the per-unit The Company recognized total expenses of $166,992 and $765,201 in respect of the LTIPs for the six months ended June 30, 2020 and 2021, respectively. As of December 31, 2020 and June 30, 2021, the Company recognized compensation liabilities of $1,073,593 and $1,429,303 as current (classified as other payables), respectively, and $111,990 and $272,242 as non-current, |
Capital Management
Capital Management | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Capital Management [Abstract] | |
Capital Management | 18. CAPITAL MANAGEMENT The Company manages its capital to ensure that entities in the Company will be able to safeguard cash as well as maintain financial liquidity and flexibility to support the development of its product candidates and programs as a going concern through the optimization of the debt and equity balance. The Company’s financial strategy is designed to maintain a flexible capital structure consistent with the objectives stated above and to respond to business growth opportunities and changes in economic conditions. The capital structure of the Company mainly consists of borrowings and equity of the Company. Key management personnel of the Company review the capital structure periodically. In order to maintain or balance the overall capital structure, the Company may adjust the amounts of long-term borrowings, or the issuance of new shares capital or other equity instruments. As of June 30, 2021, there was no changes in the Company’s capital management policy, and the Company is not subject to any externally imposed capital requirements other than those restrictions disclosed in Note 11 under October/November 2019 Loan Facility that has been repaid as at 30 June 2021. |
Reconciliation Of Liabilities A
Reconciliation Of Liabilities Arising From Financing Activities | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Reconciliation Of Liabilities Arising From Financing Activities | 19. RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES The table below details changes in the Company’s liabilities arising from financing activities, including both cash and non-cash Non-cash January 1, 2020 Interest Paid Net proceeds/ (repayment) Additions/ (Transfers) Others* Interest expense June 30, 2020 Lease Liabilities – current $ 264,543 (20,125 ) (129,366 ) 138,900 — 20,125 $ 274,077 Lease Liabilities – non-current $ 490,835 — — (138,900 ) — — $ 351,935 Long-term borrowings (Note 11) $ 17,065,305 — — — (561,323 ) 616,029 $ 17,120,011 Long-term borrowings from related parties (Notes 11 and 21) $ 566,176 — — — — 41,483 $ 607,659 Non-cash January 1, 2021 Interest paid Net proceeds/ (repayment) Additions/ (Transfers) Others* Interest expense June 30, 2021 Lease Liabilities – current $ 271,624 (13,330 ) (208,142 ) 217,827 — 13,330 $ 281,309 Lease Liabilities – non-current $ 281,149 — — (217,827 ) — — $ 63,322 Long-term borrowings (Note 11) $ 15,183,421 — — — (192,177 ) 223,536 $ 15,214,780 Current borrowings (Notes 11 and 21) $ 2,900,971 (355,744 ) (2,700,000 ) — — 154,773 $ — Current borrowings from related parties (Notes 11 and 21) $ 617,912 (117,986 ) (550,000 ) — — 50,074 $ — Interest payables (Note 10) $ 735,510 (736,469 ) — — — 172,222 $ 171,263 * Others comprise mainly foreign currency translation differences. For lease liabilities, it also includes lease modifications and disposals. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | 20. FINANCIAL INSTRUMENTS a. Fair value of financial instruments not measured at fair value The Company believes that the carrying amounts of financial assets and financial liabilities not measured at fair value approximate their fair values. b. Fair value of financial instruments measured at fair value on a recurring basis 1) Fair value hierarchy December 31, 2020 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 137,926 $ 137,926 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 267,000 $ 267,000 There were no financial assets or liabilities measured at fair value as at June 30, 2021 and there was no transfers between Levels 1 and 2 in the current and prior periods. 2) Valuation techniques and inputs applied for Level 3 fair value measurement a) The fair values of warrants are determined using option pricing models where the significant unobservable input is historical volatility. An increase in the historical volatility used in isolation would result in an increase in the fair value. At June 30, 2020, the historical volatility used were 84.63%. b) The fair values of non-listed Price-to-Book c) The fair value of derivative financial instrument with warrants and convertibility right are determined using binomial evaluation method with discount rate 13.19% to 14.12% assessing by market bond yield curve and risk-free rate premium. As of June 30, 2020, the historical volatility used was 92.6% during the past 1 year. d) The Company wrote off the derivative financial instruments in the period ended June 30, 2021 due to the repayment of the Convertible Loan Facility and the October/November 2019 Loan Facility as disclosed in Note 11. c. Categories of financial instruments December 31, June 30, 2021 Financial assets Financial assets at fair value through profit or loss Derivative financial assets $ 137,926 $ — Financial assets at amortized cost (1) 14,427,678 94,240,208 Financial liabilities Financial liabilities at fair value through profit or loss Derivative financial liabilities 267,000 — Financial liabilities at amortized cost (2) 24,228,678 18,623,894 1) The balances include financial assets at amortized cost, which comprise of cash and cash equivalents and refundable deposits. 2) The balances include financial liabilities at amortized cost, which comprise of trade payables, partial other payables and long-term borrowings. d. Financial risk management objectives and policies The Company’s financial risk management objective is to monitor and manage the financial risks relating to the operations of the Company. These risks include market risk (including foreign currency risk and interest rate risk), credit risk and liquidity risk. In order to minimize the effect of financial risks, the Company devoted time and resources to identify and evaluate the uncertainty of the market to mitigate risk exposures. 1) Market risk The Company’s activities exposed it primarily to the financial risks of changes in foreign currency exchange rates (see (a) below) and interest rates (see (b) below). a) Foreign currency risk The Company had foreign currency transactions, which exposed the Company to foreign currency risk. The Company’s significant financial assets and liabilities denominated in foreign currencies were as follows: December 31, 2020 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 458,878 0.7566 $ 347,187 GBP £ 49,524 1.3651 £ 67,605 Financial liabilities Monetary items SGD S$ (15,722,226 ) 0.7566 $ (11,895,436 ) GBP £ (184,320 ) 1.3651 (251,615 ) June 30, 2021 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 2,480,688 0.7437 $ 1,844,888 Financial liabilities Monetary items SGD S$ (15,581,025 ) 0.7437 $ (11,587,608 ) Sensitivity analysis The Company is mainly exposed to the Singapore Dollar. The following table details the Company’s sensitivity to a 5% increase and decrease in the U.S. dollar against the relevant foreign currency. The rate of 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items. A positive number below indicates a decrease in pre-tax pre-tax For the six months ended June 30 2020 2021 Profit or loss* SGD $ (501,842 ) $ (487,150 ) GBP 42,523 (8,840 ) * This is mainly attributable to the exposure to outstanding deposits in banks and loans in foreign currency at the end of the reporting period. b) Interest rate risk The Company is exposed to interest rate risk because entities in the Company borrowed funds at fixed interest rates. The sensitivity analysis below is determined based on the Company’s exposure to interest rates for fixed rate borrowings at the end of the reporting period, and is prepared assuming that the amounts of liabilities outstanding at the end of the reporting period are outstanding for the whole year. A 100-basis If interest rates had been 100 basis points higher/lower and all other variables were held constant, the Company’s pre-tax loss for the six months ended June 30, 2020 and 2021 would have decreased/increased by 2) Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Company. The Company adopted a policy of only dealing with creditworthy counterparties and financial institutions, where appropriate, as a means of mitigating the risk of financial loss from defaults. 3) Liquidity risk The Company manages liquidity risk by monitoring and maintaining a level of cash and cash equivalents that are deemed adequate to finance the Company’s operations and mitigate the effects of fluctuations in cash flows. In addition, management monitors the utilization of long-term borrowings and ensures compliance with repayment conditions. As the Company is in the research and development phase, the Company will be seeking future funding based on the requirements of its business operations. The Company is able to exercise discretion and flexibility to deploy its capital resources in the process of the research and development activities according to the schedule of fund raising. The Company intends to explore various means of fundraising to meet its funding requirements to carry out the business operations, such as the issuance of its ordinary shares sponsoring ADSs, domestic follow-on On February 25, 2021 and March 4, 2021, the Company had completed a private placement raising for gross proceeds of $18.0 million and closed a public offering with gross proceeds $69.0 million. Please refer to Note 13 for details. On July 13, 2021, the company closed a secured loan facility of up to $45 million provided by K2 HealthVentures (K2HV). Please refer to Note 24a for details. |
Transactions with Related Parti
Transactions with Related Parties | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Transactions with Related Parties | 21. TRANSACTIONS WITH RELATED PARTIES Balances and transactions between the companies which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Besides information disclosed elsewhere in the other notes, details of transactions between the Company and other related parties are disclosed as follows. a. Related party name and category Related Party Name Related Party Category JANK Howden Pty Ltd Related party in substance Others Key Management Personnel b. Loans from related parties Related Party Category/Name December 31, June 30, 2021 Related party in substance / JANK Howden Pty Ltd $ 500,000 $ — Key Management Personnel / Others 50,000 — $ 550,000 $ — Interest Payable Related Party Category/Name December 31, June 30, 2021 Related party in substance / JANK Howden Pty Ltd $ 61,711 $ — Key Management Personnel / Others 6,201 — $ 67,912 $ — Interest expense For the six months Ended June 30 Related Party Category/Name 2020 2021 Related party in substance / JANK Howden Pty Ltd $ 37,713 $ 45,522 Key Management Personnel / Others 3,771 4,552 $ 41,484 $ 50,074 The loans from the related parties are unsecured. c. Compensation of Key Management Personnel For the six months Ended June 30 Related Party Category/Name 2020 2021 Short-term employee benefits $ 927,751 $ 1,073,166 Post-employment benefits 43,254 58,300 Share-based payments recognized 166,992 765,201 $ 1,137,997 $ 1,896,667 The remuneration of directors and key executives was determined by the remuneration committee based on the performance of individuals and market trends. |
Segment Information and seasona
Segment Information and seasonality | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of operating segments [abstract] | |
Segment Information and seasonality | 22. SEGMENT INFORMATION AND SEASONALITY The Company’s major business is research and development and operates only in one single segment. The Board of directors, which allocates resources and assesses performance of the Company as a whole, has identified that the Company has only one reportable operating segment. There is no revenue from the Company’s major products and services as of June 30, 2020 and June 30, 2021. The Company’s operations is not effected by any significant seasonality fluctuations. |
Material License Agreements
Material License Agreements | 6 Months Ended |
Jun. 30, 2021 | |
Material License Agreements [Abstract] | |
Material License Agreements | 23. MATERIAL LICENSE AGREEMENTS Almirall In 2012, the Company originally entered into a global licensing agreement with Almirall to develop DHODH inhibitor, LAS186323, which the Company refers to as ASLAN003, for rheumatoid arthritis (excluding any topical formulation), without upfront payments. Under the license agreement, the Company agreed to fund and develop ASLAN003 to the end of Phase 2 through a development program conducted in the Asia-Pacific region. The original license agreement was replaced by a new agreement, executed in December 2015 and amended in March 2018, granting an exclusive, worldwide license to develop, manufacture and commercialize ASLAN003 products for all human diseases with primary focus on oncology diseases, excluding topically-administered products embodying the compound for keratinocyte and hyperproliferative disorders, and the non-melanoma skin cancers basal cell carcinoma, squamous cell carcinomas and Gorlin Syndrome. Under the license agreement, Almirall is eligible to receive milestone payments and royalties based on the sales generated by the Company and/or sublicensees. As of June 30, 2021, the Company did not accrue for the above contingent payments since the milestones have not yet been achieved. CSL The Company entered into a global license agreement with CSL Limited (“CSL”), in May 2014, to develop the anti-IL13 Under the amended agreement, the Company is generally obligated to use diligent efforts to develop ASLAN004 products in accordance with the development plan, to obtain marketing approvals for ASLAN004 products worldwide and to commercialize ASLAN004 products, either by itself or through sublicensees. In consideration of the rights granted to the Company under the amended agreement, the Company will make a first payment of $30 million to CSL upon commencement of a Phase 3 clinical trial of ASLAN004. The Company will also be required to pay up to an aggregate of $95 million to CSL if certain regulatory milestones are achieved and as of June 30, 2020, milestone has not been met, up to an aggregate of $655 million if certain sales milestones are achieved and tiered royalties on net sales of ASLAN004 products ranging between a mid-single digit percentage and 10%. As of June 30, 2021, the aforementioned milestones have not been met. |
Other Items_ Subsequent Events
Other Items/ Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Other Items/ Subsequent Events | 24. OTHER ITEMS/ SUBSEQUENT EVENTS a. On July 13, 2021, the company announced that it had closed a secured loan facility provided by K2 HealthVentures (K2HV). Under the terms of the facility, K2HV will provide the Company up to $45 million of secured debt financing. The facility consists of a $20 million initial term loan funded at closing, with the remaining $25 million subject to certain terms and conditions. In connection with the closing of the loan facility, the Company issued a warrant to purchase ordinary shares (the “K2 Warrant”) to K2HV. The number of ordinary shares exercisable under the K2 Warrant equals (i) 2.95% of the aggregate original principal amount of the term loans funded to the Company divided by (ii) the warrant price of $0.5257 per ordinary share (equivalent to $2.6285 per ADS). The K2 Warrant also includes a cashless exercise feature allowing the holder to receive shares underlying the warrant in an amount reduced by the aggregate exercise price that would have been payable upon exercise of the warrant for such shares. The K2 Warrant is exercisable until its expiration on July 12, 2031. b. On July 13, 2021, upon closing of the secured loan facility with K2HV, under the terms of the financing, the Company repaid its outstanding loans with CSL Finance Pty Ltd in the amount of $4.2 million, comprising million loan principal and |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Statement of compliance | a. Statement of compliance The condensed consolidated financial statements have been prepared in accordance with IAS 34 “ Interim Financial Reporting |
Basis of preparation | b. Basis of preparation The condensed consolidated financial statements have been prepared on the historical cost basis except for financial instruments and other payable arising from cash-settled share-based payment arrangements which are measured at fair value. |
Basis of consolidation | c. Basis of consolidation The condensed consolidated financial statements include the financial statements of the ASLAN Cayman and entities controlled by ASLAN Cayman (its subsidiaries). When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Company are eliminated on consolidation. |
Application of New Amended an_2
Application of New Amended and Revised Standards and Interpretations (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Initial Application Of Standards Or Interpretations [Abstract] | |
Schedule of Difference Between Lease Liabilities Recognized And Operating Lease Commitments Disclosed | New IFRSs Effective Date Announced by IASB (Note 1) “Annual Improvements to IFRS Standards 2018–2020” January 1, 2022 (Note 2) Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 (Note 3) Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” Effective immediately upon promulgation by the IASB Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” To be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment - Proceeds before Intended Use” January 1, 2022 (Note 4) Amendments to IAS 37 “Onerous Contracts–Cost of Fulfilling a Contract” January 1, 2022 (Note 5) Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on or after their respective effective dates. Note 2: The amendments to IFRS 9 are applied prospectively to modifications and exchanges of financial liabilities that occur on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IFRS 1 “First-time Adoptions of IFRSs” are applied retrospectively for annual reporting periods beginning on or after January 1, 2022. Note 3: The amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2022. Note 4: The amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2022. Note 5: The amendments are applicable to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Cash and cash equivalents [Abstract] | |
Summary of Cash and Cash Equivalents | December 31, June 30, 2021 Cash on hand $ 1,709 $ 647 Deposits in banks 14,322,662 94,119,511 $ 14,324,371 $ 94,120,158 |
Financial Instruments at Fair_2
Financial Instruments at Fair Value Through Profit or Loss (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Financial Assets At Fair Value Through Profit Or Loss [Abstract] | |
Summary of Financial Instruments at Fair Value Through Profit or Loss | December 31, June 30, Financial assets at fair value through profit and loss (FVTPL) - current Financial assets classified as at FVTPL Derivative financial assets – pre-redemption $ 137,926 $ — Financial assets at fair value through profit and loss (FVTPL) - current Financial liabilities at FVTPL Derivative financial liabilities - conversion right (a)/(b) $ 267,000 $ — a. On October 25, 2019, the Company entered into a loan facility agreement with warrants and was entitled to repay at any time prior to expiry of the term, as detailed in Note 11 (under the heading of “October/November 2019 Loan Facility”). b. On September 30, 2019, the Company entered into a convertible loan facility, as detailed in Note 11 (under the heading of “Convertible Loan Facility”). |
Details of Subsidiaries that _2
Details of Subsidiaries that have Material Non-Controlling Interests (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Significant Investments In Subsidiaries [Abstract] | |
Summary of Subsidiaries That Have Material Non-controlling Interests | Details of the subsidiary that have material non-controlling Proportion of Non-controlling Interests Name of Subsidiary Principal Place of Business December 31, June 30, Jaguahr Therapeutics Pte. Ltd. Singapore 45 % 65 %* Profit (Loss) Allocated to Non-controlling Interests Accumulated Non-controlling interests For the Year Ended June 30 2020 2021 December 31, June 30, 2021 Name of Subsidiary Jaguahr Therapeutics Pte. Ltd. $ (315,695 ) $ (332,400 ) $ 300,681 $ — * On April 28, |
Summary of Financial Information Before Intragroup Eliminations | The summarized Jaguahr Therapeutics Pte. Ltd. financial information below represents amounts before intragroup eliminations. December 31 , June 30 , 2021 Current assets $ 807,560 $ 2,277,244 Current liabilities (139,378 ) (81,669 ) Equity $ 668,182 $ 2,195,575 Equity attributable to: Stockholders of the Company $ 367,501 $ 768,451 Non-controlling 300,681 1,427,124 $ 668,182 $ 2,195,575 For the Period June 30 2020 2021 Revenue $ — $ — Loss for the year, representing total comprehensive loss for the year $ (701,545 ) $ (972,608 ) Attributable to: Stockholders of the Company $ (385,850 ) $ (621,764 ) Share of losses of associates (Note 9) — (81,880 ) Non-controlling (315,695 ) (268,964 ) $ (701,545 ) $ (972,608 ) |
Investment in Associate Compa_2
Investment in Associate Company (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of associates [abstract] | |
Summary of Movements in Investment in Associates | Movements in investment in associate company are as follows: December 31, June 30, Beginning balance $ — $ — Unquoted equity shares at fair value of identifiable assets — 900,440 Share of losses of associates — (81,880 ) Ending balance $ — $ 818,560 |
Summary of Associated Companies Accounted for Using the Equity Method | Set out below are the investment in associate s Name of associated company Principal activities Country of incorporation Equity June 30, % Jaguahr Therapeutics Pte. Ltd. New drug research and development Singapore 35 |
Other Payables (Tables)
Other Payables (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Trade And Other Payables [Abstract] | |
Schedule of Other Payables | December 31, June 30, 2021 Payables for cash-settled share-based payment transactions (Note 17) $ 1,073,593 $ 1,429,303 Payables for salaries and bonuses 1,492,325 691,768 Interest payables 735,510 171,263 Payables for professional fees 837,803 448,709 Others 141,178 50,587 $ 4,280,409 $ 2,791,630 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Borrowings [abstract] | |
Summary of Loans | December 31, June 30, 2021 Long-term borrowings – Unsecured Loans from government $ 7,494,665 $ 7,366,882 Other long-term borrowings 4,060,357 4,060,357 Interest payables 3,628,399 3,787,541 $ 15,183,421 $ 15,214,780 Current borrowings - Unsecured Loans from shareholders $ 2,571,701 $ — Interest payables 329,270 — $ 2,900,971 $ — Current borrowings from related parties - Unsecured Loans from related parties $ 550,000 $ — Interest payables 67,912 — $ 617,912 $ — |
Equity (Tables)
Equity (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Equity [abstract] | |
Schedule of Ordinary Shares | December 31, June 30, 2021 Number of ordinary shares authorized 500,000,000 500,000,000 Authorized par value of per share $ 0.01 $ 0.01 Number of ordinary shares issued and fully paid 209,675,470 348,086,060 Number of equivalent ADSs issued and fully paid 41,935,094 69,617,212 Amount of ordinary shares authorized $ 5,000,000 $ 5,000,000 Amount of share capital par value issued and fully paid $ 61,826,237 $ 63,013,589 Amount of share capital surplus issued and fully paid $ 115,754,741 $ 212,841,825 |
Loss Before Income Tax (Tables)
Loss Before Income Tax (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Profit (loss) [Abstract] | |
Summary of General and Administrative Expenses | a. General and administrative expenses June 30, 2020 June 30, 2021 General and administrative expenses $ 2,788,423 $ 6,893,836 |
Summary of Research and Development Expenses | b. Research and development expenses June 30, 2020 June 30, 2021 Research and development expenses $ 4,247,175 $ 7,795,493 |
Summary of Other Income | c. Other income June 30, 2020 June 30, 2021 ADSs issuance contribution $ — $ 309,527 Government subsidies — 21,392 Others — 9,157 $ — $ 340,076 |
Summary of Finance costs | d. Finance costs For the six months ended 2020 2021 Interest on government loans $ 213,681 $ 223,536 Interest on loans from shareholders and related parties 169,707 204,847 Interest on lease liabilities 20,125 13,330 Other interest expenses 274,124 173,189 $ 677,637 $ 614,902 |
Schedule of Depreciation and Amortization | e. Depreciation and amortization For the six months ended 2020 2021 Right-of-use $ 132,913 $ 132,402 Property, plant and equipment 16,130 8,919 Computer software 1,957 504 $ 151,000 $ 141,825 |
Schedule of Employee Benefits Expense | f. Employee benefits expense For the six months ended June 30 2020 2021 Short-term benefits $ 2,042,348 $ 3,255,606 Post-employment benefits (Note 12) 123,693 121,676 Share-based payments (Note 17) Equity-settled — 1,564,673 Cash-settled 166,992 765,201 Total employee benefits expense $ 2,333,033 $ 5,707,156 Employee benefits expense by function General and administrative expenses $ 2,015,024 $ 4,158,710 Research and development expenses 318,009 1,548,446 $ 2,333,033 $ 5,707,156 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax [Abstract] | |
Summary of Income Tax Recognized in Profit or Loss | Income Tax Recognized in Profit or Loss For the six months ended 2020 2021 Current tax In respect of the current period $ — $ — |
Loss Per Share (Tables)
Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings per share [abstract] | |
Summary of Earnings Per Share | For the six months ended 2020 2021 Basic and diluted loss per ordinary share $ (0.04 ) $ (0.04 ) Basic and diluted loss per equivalent ADS $ (0.20 ) $ (0.20 ) |
Summary of Loss and Weighted-Average Number of Ordinary Shares Outstanding | The loss and weighted-average number of ordinary shares outstanding used in the computation of loss per share are as follows: For the six months ended June 30 2020 2021 Loss used in the computation of basic and diluted loss per share $ (7,005,889 ) $ (12,149,543 ) Weighted-average number of ordinary shares in the computation of basic loss per ordinary share 189,954,970 302,985,377 Weighted-average number of ADSs in the computation of basic loss per ADS 37,990,994 60,597,075 |
Share-Based Payment Arrangeme_2
Share-Based Payment Arrangements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Summary of Employee Share Options | Information on employee share options granted from July 2011 to 2016 is as follows. Each option entitles the holder to subscribe for one ordinary share of the Company (1 ADS represents 5 ordinary shares): For the six months ended June 30 2020 2021 Number of Weighted- average Number of Weighted- average Balance at January 1 6,670,356 $ 1.43 6,670,356 $ 1.43 Options forfeited — — — — Options exercised — — (114,500 ) 1.87 Balance at June 30 6,670,356 1.43 6,555,856 1.43 Options exercisable, end of period 6,670,356 1.43 6,555,856 1.43 Information on employee share options granted in September 2017 is as follows. Each option entitles the holder to subscribe for one ordinary share of the Company (1 ADS represents 5 ordinary shares): For the six months ended June 30 2020 2021 Number of Weighted- average Number of Weighted- average Balance at January 1 501,167 $ 1.28 501,167 $ 1.28 Options forfeited — — — — Balance at June 30 501,167 1.28 501,167 1.28 Options exercisable, end of period 501,167 1.28 501,167 1.28 There were no employee share options granted for the six months ended June 30, 2020. Information on employee share options granted in January 2021, February 2021 and March 2021 are as follows. Each option entitles the holder to subscribe for one ADS of the Company: For the six months ended Number of Options Weighted- average Exercise Price Per Option Balance at January 1, 2021 3,824,062 $ 2.06 Options granted 162,000 3.86 Options forfeited (81,000 ) — Balance at June 30, 2021 3,905,062 2.13 Options exercisable, end of period 266,100 2.06 Weighted-average fair value of options granted $ 2.63 |
Summary of Outstanding Options | Information on outstanding options as of June 30, 2021 is as follows: July 2011 July 2012 July 2013 July 2014 Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) $0.20-$0.80 0.7 $0.80 1.7 $0.80 2.7 $1.36 3.7 July 2015 July 2016 July 2017 December 2020 January-March 2021 Range of Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) Range of Exercise Price Weighted- average Remaining Contractual Life (Years) $1.36-$1.88 4.7 $2.26 5.7 $1.28 6.9 $2.06 9.59 $2.35-$4.12 9.79 |
Summary of Options Granted Priced Using Binomial Option Pricing Model | Options granted in July of 2010, 2011, 2012, 2013, 2014, 2015, 2016, September 2017, December 2020, January 2021, February 2021 and March 2021 were priced using the binomial option pricing model, and the inputs to the model were as follows: July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 December 2020 January-March 2021 Grant-date share price $0.80 $1.25 $1.36 $1.36 $1.88 $2.26 $1.28 $2.22 $2.35-$4.12 Exercise price $0.20-$0.80 $0.80 $0.80-$1.36 $1.36 $1.36-$1.88 $2.26 $1.28 $2.06 $2.35-$4.12 Expected volatility 54.26%-54.44% 52.25% 50.58% 50.86% 36.37% 39.34% 38.33% 66.25% 59.99% - 64.92% Expected life (years) 10 10 10 10 10 10 10 10 10 Expected dividend yield — — — — — — — — — Risk-free interest rate 2.96%-3.22% 1.61% 2.5% 2.58% 2.43% 1.46% 1.10% 0.92% 1.07%-1.69% |
Summary of Long Term Incentive Plan | The Company’s 2017 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 232,000 215,133 Awards exercised — (13,867 ) Awards forfeited (50,600 ) — Balance at June 30 181,400 201,266 Balance exercisable, end of period 173,400 201,266 The Company’s 2018 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 168,089 142,445 Awards exercised (9,928 ) Awards forfeited (38,466 ) — Balance at June 30 129,623 132,517 Balance exercisable, end of period 56,030 89,309 The Company’s 2019 LTIP is described as follows: For the six months Ended June 30 2020 2021 Balance at January 1 491,020 386,950 Awards forfeited (104,070 ) — Balance at June 30 386,950 386,950 Balance exercisable, end of period — 128,983 |
Reconciliation Of Liabilities_2
Reconciliation Of Liabilities Arising From Financing Activities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Summary of Changes in Liabilities Arising from Financing Activities, Including Both Cash and Non-cash Changes | The table below details changes in the Company’s liabilities arising from financing activities, including both cash and non-cash Non-cash January 1, 2020 Interest Paid Net proceeds/ (repayment) Additions/ (Transfers) Others* Interest expense June 30, 2020 Lease Liabilities – current $ 264,543 (20,125 ) (129,366 ) 138,900 — 20,125 $ 274,077 Lease Liabilities – non-current $ 490,835 — — (138,900 ) — — $ 351,935 Long-term borrowings (Note 11) $ 17,065,305 — — — (561,323 ) 616,029 $ 17,120,011 Long-term borrowings from related parties (Notes 11 and 21) $ 566,176 — — — — 41,483 $ 607,659 Non-cash January 1, 2021 Interest paid Net proceeds/ (repayment) Additions/ (Transfers) Others* Interest expense June 30, 2021 Lease Liabilities – current $ 271,624 (13,330 ) (208,142 ) 217,827 — 13,330 $ 281,309 Lease Liabilities – non-current $ 281,149 — — (217,827 ) — — $ 63,322 Long-term borrowings (Note 11) $ 15,183,421 — — — (192,177 ) 223,536 $ 15,214,780 Current borrowings (Notes 11 and 21) $ 2,900,971 (355,744 ) (2,700,000 ) — — 154,773 $ — Current borrowings from related parties (Notes 11 and 21) $ 617,912 (117,986 ) (550,000 ) — — 50,074 $ — Interest payables (Note 10) $ 735,510 (736,469 ) — — — 172,222 $ 171,263 * Others comprise mainly foreign currency translation differences. For lease liabilities, it also includes lease modifications and disposals. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis | December 31, 2020 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 137,926 $ 137,926 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 267,000 $ 267,000 |
Summary of Categories of Financial Instruments | December 31, June 30, 2021 Financial assets Financial assets at fair value through profit or loss Derivative financial assets $ 137,926 $ — Financial assets at amortized cost (1) 14,427,678 94,240,208 Financial liabilities Financial liabilities at fair value through profit or loss Derivative financial liabilities 267,000 — Financial liabilities at amortized cost (2) 24,228,678 18,623,894 1) The balances include financial assets at amortized cost, which comprise of cash and cash equivalents and refundable deposits. 2) The balances include financial liabilities at amortized cost, which comprise of trade payables, partial other payables and long-term borrowings. |
Summary of Significant Financial Assets and Liabilities Denominated in Foreign Currencies | The Company’s significant financial assets and liabilities denominated in foreign currencies were as follows: December 31, 2020 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 458,878 0.7566 $ 347,187 GBP £ 49,524 1.3651 £ 67,605 Financial liabilities Monetary items SGD S$ (15,722,226 ) 0.7566 $ (11,895,436 ) GBP £ (184,320 ) 1.3651 (251,615 ) June 30, 2021 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 2,480,688 0.7437 $ 1,844,888 Financial liabilities Monetary items SGD S$ (15,581,025 ) 0.7437 $ (11,587,608 ) |
Sensitivity Analysis of Foreign Currency Risk | For the six months ended June 30 2020 2021 Profit or loss* SGD $ (501,842 ) $ (487,150 ) GBP 42,523 (8,840 ) * This is mainly attributable to the exposure to outstanding deposits in banks and loans in foreign currency at the end of the reporting period. |
Transactions with Related Par_2
Transactions with Related Parties (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Disclosure of Transactions Between Group and Other Related Parties | a. Related party name and category Related Party Name Related Party Category JANK Howden Pty Ltd Related party in substance Others Key Management Personnel b. Loans from related parties Related Party Category/Name December 31, June 30, 2021 Related party in substance / JANK Howden Pty Ltd $ 500,000 $ — Key Management Personnel / Others 50,000 — $ 550,000 $ — Interest Payable Related Party Category/Name December 31, June 30, 2021 Related party in substance / JANK Howden Pty Ltd $ 61,711 $ — Key Management Personnel / Others 6,201 — $ 67,912 $ — Interest expense For the six months Ended June 30 Related Party Category/Name 2020 2021 Related party in substance / JANK Howden Pty Ltd $ 37,713 $ 45,522 Key Management Personnel / Others 3,771 4,552 $ 41,484 $ 50,074 |
Schedule of Key Management Personnel Compensation | c. Compensation of Key Management Personnel For the six months Ended June 30 Related Party Category/Name 2020 2021 Short-term employee benefits $ 927,751 $ 1,073,166 Post-employment benefits 43,254 58,300 Share-based payments recognized 166,992 765,201 $ 1,137,997 $ 1,896,667 |
General Information - Additiona
General Information - Additional Information (Detail) - JAGUAHR Therapeutics Tranche Two - Jaguahr Therapeutics Pte. Ltd | Oct. 15, 2019 |
Disclosure of non-adjusting events after reporting period [line items] | |
Holding percentage | 55.00% |
Bottom of Range | |
Disclosure of non-adjusting events after reporting period [line items] | |
Holding percentage | 35.00% |
Top of Range | |
Disclosure of non-adjusting events after reporting period [line items] | |
Holding percentage | 55.00% |
Application of New Amended an_3
Application of New Amended and Revised Standards and Interpretations - Schedule of New Amended or Revised Standards and Interpretations (Detail) | 6 Months Ended |
Jun. 30, 2021 | |
Amendments To IFRS 3 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | IFRSs including |
Effective Date Announced by IASB | Jan. 1, 2021 |
Amendments to IFRS 9 IAS 39 IFRS 7 IFRS 4 and IFRS 1614 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Phase 2 amendments ‘Interest Rate Benchmark Reform: Amendments to IFRS 9 “Financial Instruments”, IAS 39 “Financial Instruments: Recognition and Measurement”, IFRS 7 “Financial Instruments”, and IFRS 16 “Leases” |
Effective Date Announced by IASB | Jan. 1, 2021 |
Amendments To IFRS 10 And IAS 28 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” |
Effective Date Announced by IASB | To be determined by IASB |
IFRS 17 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | IFRS 17 “Insurance Contracts” |
Effective Date Announced by IASB | Jan. 1, 2023 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [Abstract] | ||
Cash on hand | $ 647 | $ 1,709 |
Deposits in banks | 94,119,511 | 14,322,662 |
Cash | $ 94,120,158 | $ 14,324,371 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - USD ($) $ in Millions | Mar. 04, 2021 | Feb. 25, 2021 | Jun. 30, 2021 | Jun. 30, 2020 |
Disclosure of classes of share capital [line items] | ||||
Proceed from the sale of shares | $ 69 | $ 18 | ||
American Depositary Share [Member] | ||||
Disclosure of classes of share capital [line items] | ||||
Proceed from the sale of shares | $ 97 | $ 0 |
Financial Instruments at Fair_3
Financial Instruments at Fair Value Through Profit or Loss - Summary of Financial Instruments at Fair Value Through Profit or Loss (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Statement [LineItems] | ||
Financial assets mandatorily classified as at FVTPL | $ 0 | $ 137,926 |
Financial liabilities at fair value through profit or loss (FVTPL) - Non-current | ||
Financial liabilities designated as at FVTPL | 0 | 267,000 |
Pre-redemption Right [Member] | ||
Statement [LineItems] | ||
Financial assets mandatorily classified as at FVTPL | $ 0 | $ 137,926 |
Details of Subsidiaries that _3
Details of Subsidiaries that have Material Non-Controlling Interests - Additional Information (Detail) - USD ($) | Apr. 28, 2021 | Oct. 15, 2019 | Jun. 30, 2021 | Mar. 23, 2021 | Oct. 31, 2019 |
Statement [Line Items] | |||||
Gain on dilution of subsidiary | $ 2,307,735 | ||||
Non-controlling interests derecognized due to gain on dilution of subsidiary | $ (31,717) | ||||
Jaguahr Therapeutics Pte. Ltd | |||||
Statement [Line Items] | |||||
Proportion of ownership interest in joint venture | 55.00% | ||||
Gain on dilution of subsidiary | $ 2,307,735 | ||||
Reversal of capital reserve | 1,376,349 | ||||
Non-controlling interests derecognized due to gain on dilution of subsidiary | $ 31,717 | ||||
Percenatge of the fair value of net identifiable assets | 35.00% | ||||
Jaguahr Therapeutics Pte. Ltd | First Tranche [Member] | |||||
Statement [Line Items] | |||||
Proportion of ownership interest in joint venture | 35.00% | ||||
Jaguahr Therapeutics Pte. Ltd | Second Tranche [Member] | |||||
Statement [Line Items] | |||||
Proportion of ownership interest in joint venture | 55.00% | ||||
Jaguahr Therapeutics Pte. Ltd | Bukwang [Member] | |||||
Statement [Line Items] | |||||
Investments in joint ventures | $ 5,000,000 | ||||
Number of shares issued | 80,000 | 80,000 | |||
Jaguahr Therapeutics Pte. Ltd | Bukwang [Member] | First Tranche [Member] | |||||
Statement [Line Items] | |||||
Loans and receivables | $ 2,500,000 | ||||
Jaguahr Therapeutics Pte. Ltd | Bukwang [Member] | Second Tranche [Member] | |||||
Statement [Line Items] | |||||
Loans and receivables | $ 2,500,000 | $ 2,500,000 | |||
Jaguahr Therapeutics Pte. Ltd | Bottom of Range | |||||
Statement [Line Items] | |||||
Proportion of ownership interest in joint venture | 35.00% | ||||
Jaguahr Therapeutics Pte. Ltd | Top of Range | |||||
Statement [Line Items] | |||||
Proportion of ownership interest in joint venture | 55.00% |
Details of Subsidiaries that _4
Details of Subsidiaries that have Material Non-Controlling Interests - Summary of Subsidiaries That Have Material Non-controlling Interests (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of subsidiaries [line items] | |||
Profit (Loss) Allocated to Non-controlling Interests | $ (268,964) | $ (315,695) | |
Accumulated Non-controlling interests | $ 300,681 | ||
Jaguahr Therapeutics Pte. Ltd | |||
Disclosure of subsidiaries [line items] | |||
Name of Subsidiary | Jaguahr Therapeutics Pte. Ltd. | ||
Principal Place of Business | Singapore | ||
Proportion of Ownership and Voting Rights Held by Non-controlling Interests | 65.00% | 45.00% | |
Profit (Loss) Allocated to Non-controlling Interests | $ (332,400) | $ (315,695) | |
Accumulated Non-controlling interests | $ 1,427,124 | $ 300,681 |
Details of Subsidiaries that _5
Details of Subsidiaries that have Material Non-Controlling Interests - Summary of Financial Information Before Intragroup Eliminations (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | ||||||
Current assets | $ 94,735,370 | $ 94,735,370 | $ 15,502,346 | |||
Current liabilities | (5,119,726) | (5,119,726) | (10,657,474) | |||
Total (deficit) equity | 75,354,752 | $ (7,999,189) | 75,354,752 | $ (7,999,189) | (10,152,284) | $ (603,274) |
Equity attributable to: | ||||||
Stockholders of the Company | 75,354,752 | 75,354,752 | (10,452,965) | |||
Non-controlling interests | 300,681 | |||||
Total (deficit) equity | 75,354,752 | (7,999,189) | 75,354,752 | (7,999,189) | (10,152,284) | $ (603,274) |
Revenue | 0 | 0 | ||||
Loss for the year, representing total comprehensive loss for the year | (14,689,329) | (7,035,598) | ||||
Total comprehensive attributable to: | ||||||
Non-controlling interests | (268,964) | (315,695) | ||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (12,418,507) | $ (7,395,915) | ||||
Jaguahr Therapeutics Pte. Ltd | ||||||
Disclosure of subsidiaries [line items] | ||||||
Current assets | 2,277,244 | 2,277,244 | 807,560 | |||
Current liabilities | (81,669) | (81,669) | (139,378) | |||
Total (deficit) equity | 2,195,575 | 2,195,575 | 668,182 | |||
Equity attributable to: | ||||||
Stockholders of the Company | 768,451 | 768,451 | 367,501 | |||
Non-controlling interests | 1,427,124 | 1,427,124 | 300,681 | |||
Total (deficit) equity | $ 2,195,575 | 2,195,575 | $ 668,182 | |||
Revenue | 0 | 0 | ||||
Loss for the year, representing total comprehensive loss for the year | (972,608) | (701,545) | ||||
Total comprehensive attributable to: | ||||||
Stockholders of the Company | (621,764) | (385,850) | ||||
Share of losses of associates (Note 9) | (81,880) | 0 | ||||
Non-controlling interests | (268,964) | (315,695) | ||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | $ (972,608) | $ (701,545) |
Investment in Associate Compa_3
Investment in Associate Company - Summary of Movements in Investment in Associates (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure of associates [abstract] | ||
Beginning balance | $ 0 | $ 0 |
Unquoted equity shares at fair value of identifiable assets | 900,440 | 0 |
Share of losses of associates | (81,880) | 0 |
Ending balance | $ 818,560 | $ 0 |
Investment in Associate Compa_4
Investment in Associate Company - Summary of Associated Companies Accounted for Using the Equity Method (Detail) - Jaguahr Therapeutics Pte. Ltd | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of associates [line items] | |
Name of associated company | Jaguahr Therapeutics Pte. Ltd. |
Principal activities | New drug research and development |
Country of incorporation | Singapore |
Top of Range | |
Disclosure of associates [line items] | |
Equity holdings | 35.00% |
Investment in Associate Compa_5
Investment in Associate Company - Additional Information (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of associates [abstract] | |||
Investments in associates | $ 818,560 | $ 0 | $ 0 |
Other Payables - Schedule of Ot
Other Payables - Schedule of Other Payables (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Trade And Other Payables [Abstract] | ||
Payables for cash-settled share-based payment transactions (Note 17) | $ 1,429,303 | $ 1,073,593 |
Payables for salaries and bonuses | 691,768 | 1,492,325 |
Interest payables | 171,263 | 735,510 |
Payables for professional fees | 448,709 | 837,803 |
Others | 50,587 | 141,178 |
Other Payables | $ 2,791,630 | $ 4,280,409 |
Borrowings - Summary of Loans (
Borrowings - Summary of Loans (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 | Apr. 27, 2011 |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | $ 15,214,780 | $ 15,183,421 | |
Current borrowings - unsecured | 2,900,971 | ||
Unsecured borrowings from related parties | 617,912 | ||
Loans from Government | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 7,366,882 | 7,494,665 | $ 10,000,000 |
Other Long-term Borrowings | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 4,060,357 | 4,060,357 | |
Interest Payables | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | $ 3,787,541 | 3,628,399 | |
Current borrowings - unsecured | 329,270 | ||
Unsecured borrowings from related parties | 67,912 | ||
Loans from Shareholders | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Current borrowings - unsecured | 2,571,701 | ||
Loans from Related Parties | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Unsecured borrowings from related parties | $ 550,000 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | Mar. 22, 2021 | Nov. 30, 2019 | Oct. 25, 2019 | Sep. 13, 2019 | May 12, 2014 | Apr. 27, 2011 | Oct. 31, 2019 | Jun. 30, 2021 | Dec. 31, 2019 | Mar. 31, 2021 | Feb. 28, 2021 | Dec. 31, 2020 | Sep. 30, 2019 |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Long-term borrowings | $ 15,214,780 | $ 15,183,421 | |||||||||||
loan repayable period | 30 days | ||||||||||||
Repayment loan amount owed | $ 3,250,000 | ||||||||||||
Ordinary Shares | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Number of shares issued | 86,250,000 | 25,568,180 | |||||||||||
Loans from Government | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Long-term borrowings | $ 10,000,000 | 7,366,882 | 7,494,665 | ||||||||||
Loan repayable period | five-year | ||||||||||||
Borrowings, interest rate | 6.00% | ||||||||||||
Loans from Government | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Long-term borrowings | 11,154,423 | 11,123,065 | |||||||||||
CSL Finance Pty Ltd | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Loan facility | $ 4,500,000 | ||||||||||||
Percentage of based on research and development costs | 75.00% | ||||||||||||
Borrowings Interest rate | 6% plus LIBOR | ||||||||||||
Long-term Borrowings Including Interest | $ 4,231,620 | $ 4,795,867 | |||||||||||
CSL Finance Pty Ltd | Top of Range | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
loan repayable period | 10 years | ||||||||||||
Convertible Loan Facility | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Loan repayable period | two-year | ||||||||||||
Loan facility | $ 1,000,000 | ||||||||||||
Borrowings, interest rate | 10.00% | ||||||||||||
Proceeds from non-current borrowings | $ 1,000,000 | ||||||||||||
October / November 2019 Loan Facility | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Loan repayable period | two-year | ||||||||||||
Loan facility | $ 2,250,000 | ||||||||||||
Borrowings, interest rate | 10.00% | ||||||||||||
Proceeds from non-current borrowings | $ 2,250,000 | ||||||||||||
Percentage of principal loan amount optionally entitled to purchase shares, maximum | 50.00% | 50.00% | |||||||||||
Exercise price | $ 2.02 | $ 2.02 | |||||||||||
Number of shares issued | 285,110 | ||||||||||||
October / November 2019 Loan Facility | Ordinary Shares | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Number of shares issued | 1,425,550 | ||||||||||||
October / November 2019 Loan Facility | Top of Range | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Repayment loan amount owed | $ 1,000,000 | ||||||||||||
Convertible Loan Facility And October Or November 2019 Loan Facility | |||||||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||||||||||
Warrants to purchase | 575,399 | 575,399 | |||||||||||
Exercise price | $ 2.02 | $ 2.02 | |||||||||||
Number of shares issued | 285,110 |
Retirement Benefits Plans - Add
Retirement Benefits Plans - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||
Employee benefits expense | $ 121,676 | $ 123,693 |
Defined Contribution Plans | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Employee benefits expense | $ 121,676 | $ 123,693 |
Equity - Schedule of Ordinary S
Equity - Schedule of Ordinary Shares (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of classes of share capital [line items] | ||
Number of ordinary shares authorized | 500,000,000 | 500,000,000 |
Authorized par value of per share | $ 0.01 | $ 0.01 |
Amount of ordinary shares authorized | $ 5,000,000 | $ 5,000,000 |
Amount of shares issued and fully paid | 63,013,589 | 61,826,237 |
Amount of share capital surplus issued and fully paid | $ 212,841,825 | $ 115,754,741 |
Ordinary Shares | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued and fully paid | 348,086,060 | 209,675,470 |
American Depositary Share [Member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued and fully paid | 69,617,212 | 41,935,094 |
Equity - Additional Information
Equity - Additional Information (Detail) - USD ($) | Mar. 22, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Feb. 28, 2021 | Oct. 31, 2019 | Dec. 31, 2020 | Jun. 30, 2021 |
Proceeds from new share capital | $ 101,555,708 | ||||||
Proceeds from issuance of private placement | $ 18,000,000 | ||||||
Proceeds from issuance initial public offering | $ 64,900,000 | ||||||
Share premium | $ 212,841,825 | $ 115,754,741 | $ 212,841,825 | ||||
Convertible Loan Facility And October Or November 2019 Loan Facility | |||||||
Number of shares issued | 285,110 | 285,110 | |||||
Warrants to purchase | 575,399 | 575,399 | |||||
Exercise price | $ 2.02 | $ 2.02 | |||||
Number of shares issued | 285,110 | 285,110 | |||||
ATM Sales Agreement [Member] | |||||||
Proceeds from new share capital | $ 21,500,000 | ||||||
Ordinary Shares | |||||||
Number of shares issued | 86,250,000 | 25,568,180 | |||||
Number of shares issued and fully paid | 348,086,060 | 209,675,470 | 348,086,060 | ||||
Number of shares issued | 86,250,000 | 25,568,180 | |||||
Ordinary Shares | ATM Sales Agreement [Member] | |||||||
Number of shares issued | 44,314,860 | 44,314,860 | |||||
Number of shares issued | 44,314,860 | 44,314,860 | |||||
American Depositary Share [Member] | |||||||
Number of shares issued | 17,250,000 | 5,113,636 | |||||
Number of shares issued and fully paid | 69,617,212 | 41,935,094 | 69,617,212 | ||||
Number of shares issued | 17,250,000 | 5,113,636 | |||||
American Depositary Share [Member] | ATM Sales Agreement [Member] | |||||||
Number of shares issued | 8,862,972 | 8,862,972 | |||||
Proceeds from new share capital | $ 7,400,000 | $ 14,100,000 | |||||
Number of shares issued and fully paid | 4,908,987 | 3,953,985 | 4,908,987 | ||||
Number of shares issued | 8,862,972 | 8,862,972 | |||||
Initial Public Offering | Convertible Loan Facility And October Or November 2019 Loan Facility | |||||||
Number of shares issued | 1,425,550 | 1,425,550 | |||||
Number of shares issued | 1,425,550 | 1,425,550 |
Loss Before Income Tax - Summar
Loss Before Income Tax - Summary of General and Administrative Expenses (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Profit (loss) [Abstract] | ||
General and administrative expense | $ 6,893,836 | $ 2,788,423 |
Loss Before Income Tax - Summ_2
Loss Before Income Tax - Summary of Research and Development Expenses (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Analysis of income and expense [abstract] | ||
Research and development expenses | $ 7,795,493 | $ 4,247,175 |
Loss Before Income Tax - Summ_3
Loss Before Income Tax - Summary of Other Income (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Profit (loss) [Abstract] | ||
ADSs issuance contribution | $ 309,527 | $ 0 |
Government subsidies | 21,392 | 0 |
Others | 9,157 | 0 |
Other income | $ 340,076 | $ 0 |
Loss Before Income Tax - Summ_4
Loss Before Income Tax - Summary of Finance costs (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Profit Loss [Abstract] | ||
Interest on government loans | $ 223,536 | $ 213,681 |
Interest on loans from shareholders and related parties | 204,847 | 169,707 |
Interest on lease liabilities | 13,330 | 20,125 |
Other interest expenses | 173,189 | 274,124 |
Finance costs | $ 614,902 | $ 677,637 |
Loss Before Income Tax - Schedu
Loss Before Income Tax - Schedule of Depreciation and Amortization (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | $ 141,825 | $ 151,000 |
Right-of-Use Assets | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | 132,402 | 132,913 |
Property, Plant and Equipment | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | 8,919 | 16,130 |
Computer Software | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | $ 504 | $ 1,957 |
Loss Before Income Tax - Sche_2
Loss Before Income Tax - Schedule of Employee Benefits Expense (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Profit Loss [Abstract] | ||
Short-term benefits | $ 3,255,606 | $ 2,042,348 |
Post-employment benefits (Note 12) | 121,676 | 123,693 |
Share-based payments (Note 17) | ||
Equity-settled | 1,564,673 | |
Cash-settled | 765,201 | 166,992 |
Total employee benefits expense | 5,707,156 | 2,333,033 |
Employee benefits expense by function | ||
General and administrative expenses | 4,158,710 | 2,015,024 |
Research and development expenses | 1,548,446 | 318,009 |
Total employee benefits expense | $ 5,707,156 | $ 2,333,033 |
Loss Before Income Tax - Additi
Loss Before Income Tax - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items] | |||
Other non-operating income | $ 309,527 | $ 0 | |
Other receivables | $ 0 | $ 528,841 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Recognized in Profit or Loss (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Current tax | ||
In respect of the current period | $ 0 | $ 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Major Components Of Tax Expense Income [Line Items] | ||||
Unrecognized loss carryforward | $ 151,000,000 | $ 134,000,000 | ||
Deferred tax assets recognized on tax losses | $ 0 | $ 0 | ||
Taxable income | $ (12,418,507) | $ (7,321,584) | ||
Provision for income tax | $ 0 | 0 | ||
Singapore | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Statutory corporate income tax rate | 17.00% | |||
Singapore | ASLAN Pharmaceuticals Pte Ltd Singapore | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Taxable income | $ 0 | 0 | ||
Singapore | Jaguahr Therapeutics Pte. Ltd | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Taxable income | $ 0 | 0 | ||
Taiwan | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Statutory corporate income tax rate | 20.00% | |||
Decrease in unappropriated earnings due to the effect of corporate surtax rate | 5.00% | |||
Australia | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Statutory corporate income tax rate | 30.00% | |||
Taxable income | $ 0 | 0 | ||
Provision for income tax | $ 0 | 0 | ||
Hong Kong | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Statutory corporate income tax rate | 16.50% | |||
Taxable income | $ 0 | 0 | ||
Provision for income tax | 0 | 0 | ||
Withholding taxes | $ 0 | 0 | ||
China | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Statutory corporate income tax rate | 25.00% | |||
Taxable income | $ 0 | 0 | ||
Provision for income tax | 0 | 0 | ||
UNITED STATES | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Taxable income | 0 | 0 | ||
Provision for income tax | $ 0 | $ 0 | ||
Federal income tax rate | 21.00% | |||
State income tax rate | 8.70% |
Loss Per Share - Summary of Ear
Loss Per Share - Summary of Earnings Per Share (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings per share [line items] | ||
Basic and diluted loss per ordinary share | $ (0.04) | $ (0.04) |
Ordinary shares [member] | ||
Earnings per share [line items] | ||
Basic and diluted loss per ordinary share | (0.04) | (0.04) |
American Depositary Share [Member] | ||
Earnings per share [line items] | ||
Basic and diluted loss per ordinary share | $ (0.20) | $ (0.20) |
Loss Per Share - Summary of Los
Loss Per Share - Summary of Loss and Weighted Average Number of Ordinary Shares Outstanding (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings per share [line items] | ||
Loss used in the computation of basic and diluted loss per ordinary share | $ (12,149,543) | $ (7,005,889) |
Weighted-average number of ADSs in the computation of basic loss per ADS | 302,985,377 | 189,954,970 |
American Depositary Share [Member] | ||
Earnings per share [line items] | ||
Weighted-average number of ADSs in the computation of basic loss per ADS | 60,597,075 | 37,990,994 |
Share-based Payment Arrangeme_3
Share-based Payment Arrangements - Additional Information (Detail) | Mar. 22, 2021shares | Feb. 22, 2021shares | Jan. 28, 2021shares | Dec. 15, 2020shares | Dec. 10, 2020shares | Sep. 30, 2017shares | Jul. 31, 2016shares | Jul. 31, 2015shares | Jul. 31, 2014shares | Jul. 31, 2013shares | Jul. 31, 2012shares | Jul. 31, 2011shares | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Compensation costs recognized | $ 1,564,673 | $ 0 | ||||||||||||||
Recognized compensation liabilities, Non-current | $ 272,242 | $ 111,990 | ||||||||||||||
Increase decrease in exercise price | 50.00% | |||||||||||||||
Other Payable | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Recognized compensation liabilities, Current | $ 1,429,303 | 1,073,593 | ||||||||||||||
Employee Share Option Plan | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Option granted | shares | 825,833 | 1,032,250 | 2,477,336 | 680,625 | 619,250 | 669,750 | 910,000 | |||||||||
Share option granted expiration period | 10 years | |||||||||||||||
Description of vesting requirements for stock option | No performance conditions were attached to the plan. | |||||||||||||||
Percentage of remaining date of options granted | 75.00% | |||||||||||||||
Annual installments date of grant | three years | |||||||||||||||
Issuance of new share capital, shares | shares | 20,676,974 | |||||||||||||||
Employee Share Option Plan | American Depository Receipts [Member] | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Issuance of new share capital, shares | shares | 4,135,395 | |||||||||||||||
Long Term Incentive Plans | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Reporting date fair value of award | $ 3.30 | 2 | $ 1.90 | $ 2.03 | ||||||||||||
Recognized total expenses | $ 765,201 | $ 166,992 | ||||||||||||||
Two Thousand Ten To Two Thousand Sixteen [Member] | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Percentage of option granted | 25.00% | |||||||||||||||
Two Thousand And Twenty Employee Share Option Plan [Member] | ||||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||||
Option granted | shares | 75,000 | 75,000 | 12,000 | 3,824,062 |
Share-based Payment Arrangeme_4
Share-based Payment Arrangements - Summary of Employee Share Options (Detail) | 6 Months Ended | |
Jun. 30, 2021USD ($)sharesd$ / shares | Jun. 30, 2020shares$ / shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of Options, Beginning of Period | d | 3,824,062 | |
Number of Options, Granted | 162,000 | |
Number of Options, Forfeited | (81,000) | |
Number of Options, Ending of Period | 3,905,062 | |
Options exercisable, end of period | 266,100 | |
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares | $ 2.06 | |
Weighted -average Exercise Price Per Option, Granted | $ / shares | 3.86 | |
Weighted- average Exercise Price Per Option, End of Period | $ / shares | 2.13 | |
Weighted- average Exercise Price Per Option, Exercisable End of Period | $ / shares | $ 2.06 | |
Weighted-average fair value of options granted | $ | $ 2.63 | |
July 2011 to July 2016 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of Options, Beginning of Period | 6,670,356 | 6,670,356 |
Number of Options, Forfeited | 0 | 0 |
Number of Options, Exercised | d | (114,500) | |
Number of Options, Ending of Period | 6,555,856 | 6,670,356 |
Options exercisable, end of period | 6,555,856 | 6,670,356 |
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares | $ 1.43 | $ 1.43 |
Weighted- average Exercise Price Per Option, Exercised | $ / shares | 1.87 | |
Weighted- average Exercise Price Per Option, End of Period | $ / shares | 1.43 | 1.43 |
Weighted- average Exercise Price Per Option, Exercisable End of Period | $ / shares | $ 1.43 | $ 1.43 |
September 2017 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of Options, Beginning of Period | 501,167 | 501,167 |
Number of Options, Forfeited | 0 | |
Number of Options, Ending of Period | 501,167 | 501,167 |
Options exercisable, end of period | 501,167 | 501,167 |
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares | $ 1.28 | $ 1.28 |
Weighted- average Exercise Price Per Option, End of Period | $ / shares | 1.28 | 1.28 |
Weighted- average Exercise Price Per Option, Exercisable End of Period | $ / shares | $ 1.28 | $ 1.28 |
Share-based Payment Arrangeme_5
Share-based Payment Arrangements - Summary of Outstanding Options (Detail) | 6 Months Ended |
Jun. 30, 2021$ / shares | |
July 2011 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 8 months 12 days |
July 2011 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.20 |
July 2011 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 0.80 |
July 2012 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.80 |
Weighted-average Remaining Contractual Life (Years) | 1 year 8 months 12 days |
July 2013 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 2 years 8 months 12 days |
July 2013 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.80 |
July 2013 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 1.36 |
July 2014 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.36 |
Weighted-average Remaining Contractual Life (Years) | 3 years 8 months 12 days |
July 2015 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 4 years 8 months 12 days |
July 2015 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.36 |
July 2015 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 1.88 |
July 2016 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 2.26 |
Weighted-average Remaining Contractual Life (Years) | 5 years 8 months 12 days |
July 2017 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.28 |
Weighted-average Remaining Contractual Life (Years) | 6 years 10 months 24 days |
December 2020 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 2.06 |
Weighted-average Remaining Contractual Life (Years) | 9 years 7 months 2 days |
January - March 2021 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 9 years 9 months 14 days |
January - March 2021 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 2.35 |
January - March 2021 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 4.12 |
Share-based Payment Arrangeme_6
Share-based Payment Arrangements - Summary of Options Granted Priced Using Binomial Option Pricing Model (Detail) | 1 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2020yr$ / shares | Sep. 30, 2017yr$ / shares | Jul. 31, 2016yr$ / shares | Jul. 31, 2015yr$ / shares | Jul. 31, 2014yr$ / shares | Jul. 31, 2013yr$ / shares | Jul. 31, 2012yr$ / shares | Jul. 31, 2011yr$ / shares | Mar. 31, 2021yr$ / shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Grant-date share price | $ 2.22 | $ 1.28 | $ 2.26 | $ 1.88 | $ 1.36 | $ 1.36 | $ 1.25 | $ 0.80 | |
Exercise price | $ 2.06 | $ 1.28 | $ 2.26 | $ 1.36 | $ 0.80 | ||||
Expected volatility | 66.25% | 38.33% | 39.34% | 36.37% | 50.86% | 50.58% | 52.25% | ||
Expected life | yr | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
Risk-free interest rate | 0.92% | 1.10% | 1.46% | 2.43% | 2.58% | 2.50% | 1.61% | ||
Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Grant-date share price | $ 2.35 | ||||||||
Exercise price | $ 1.36 | $ 0.80 | $ 0.20 | $ 2.35 | |||||
Expected volatility | 54.26% | 59.99% | |||||||
Risk-free interest rate | 2.96% | 1.07% | |||||||
Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Grant-date share price | $ 4.12 | ||||||||
Exercise price | $ 1.88 | $ 1.36 | $ 0.80 | $ 4.12 | |||||
Expected volatility | 54.44% | 64.92% | |||||||
Risk-free interest rate | (3.22%) | (1.69%) |
Share-based Payment Arrangeme_7
Share-based Payment Arrangements - Summary of Long Term Incentive Plan (Detail) - shares | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Long Term Incentive Plan Granted in 2017 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 215,133 | 232,000 |
Awards exercised | (13,867) | |
Awards forfeited | (50,600) | |
Ending balance | 201,266 | 181,400 |
Balance exercisable, end of period | 201,266 | 173,400 |
Long Term Incentive Plan Granted in 2018 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 142,445 | 168,089 |
Awards exercised | (9,928) | |
Awards forfeited | (38,466) | |
Ending balance | 132,517 | 129,623 |
Balance exercisable, end of period | 89,309 | 56,030 |
Long Term Incentive Plan Granted in 2019 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 386,950 | 491,020 |
Awards forfeited | (104,070) | |
Ending balance | 386,950 | 386,950 |
Balance exercisable, end of period | 128,983 |
Reconciliation of Liabilities_3
Reconciliation of Liabilities Arising from Financing Activities - Summary of Changes in Liabilities Arising from Financing Activities, Including Both Cash and Non-cash Changes (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Net proceeds/ (repayment) | $ 94,310,794 | $ (129,365) | |
Long-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 15,183,421 | 17,065,305 | |
Others* | [1] | (192,177) | (561,323) |
Interest expense | 223,536 | 616,029 | |
Ending balance | 15,214,780 | 17,120,011 | |
Lease Liabilities Current [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 271,624 | 264,543 | |
Interest paid | (13,330) | (20,125) | |
Net proceeds/ (repayment) | (208,142) | (129,366) | |
Additions/ (Transfers) | 217,827 | 138,900 | |
Interest expense | 13,330 | 20,125 | |
Ending balance | 281,309 | 274,077 | |
Lease Liabilities Non Current [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 281,149 | 490,835 | |
Additions/ (Transfers) | (217,827) | (138,900) | |
Ending balance | 63,322 | 351,935 | |
LongTerm Borrowings From Related Parties [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 566,176 | ||
Interest expense | 41,483 | ||
Ending balance | $ 607,659 | ||
Short-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 2,900,971 | ||
Interest paid | (355,744) | ||
Net proceeds/ (repayment) | (2,700,000) | ||
Interest expense | 154,773 | ||
Short Term Borrowings From Related Parties [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 617,912 | ||
Interest paid | (117,986) | ||
Net proceeds/ (repayment) | (550,000) | ||
Interest expense | 50,074 | ||
Interest Payables [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 735,510 | ||
Interest paid | (736,469) | ||
Interest expense | 172,222 | ||
Ending balance | $ 171,263 | ||
[1] | Others comprise mainly foreign currency translation differences. For lease liabilities, it also includes lease modifications and disposals. |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Financial assets at fair value through profit or loss | ||
Derivative financial assets | $ 0 | $ 137,926 |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | $ 0 | 267,000 |
Fair Value Measured on Recurring Basis | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets | 137,926 | |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | 267,000 | |
Fair Value Measured on Recurring Basis | Level 3 | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets | 137,926 | |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | $ 267,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | Mar. 04, 2021 | Feb. 25, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jul. 13, 2021 |
Disclosure Of Financial Instruments [Line Items] | |||||
Transfer between Level 1 and 2, assets | $ 0 | ||||
Financial assets measured at fair value | 0 | ||||
Financial liabilities measured at fair value | $ 0 | ||||
Net Proceeds from offering of shares | $ 69,000,000 | $ 18,000,000 | |||
Historical Volatility For Shares Measurement Input | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Percentage of historical volatility used. | 92.60% | ||||
Events After Balance Sheet Date [Member] | K2 Health Venture [Member] | Secured Loan Facility [Member] | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Long Term Borrowings | $ 45,000,000 | ||||
Discount For Lack Of Marketability | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Increase decrease in discount rate | 1.00% | ||||
Decrease in fair value | $ 723 | ||||
Discount For Lack Of Control | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Increase decrease in discount rate | 1.00% | ||||
Decrease in fair value | $ 723 | ||||
Market Bond Yield Curve And Risk Free Rate Premium | Bottom of Range | Discount Rate Measurement Input | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Percentage of warrants and convertibility right determine. | 13.19% | ||||
Market Bond Yield Curve And Risk Free Rate Premium | Top of Range | Discount Rate Measurement Input | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Percentage of warrants and convertibility right determine. | 14.12% | ||||
Foreign Currency Risk | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Percentage of increase or decrease on exchange rate of foreign currency | 5.00% | ||||
Sensitivity rate used in reporting foreign currency risk | 5.00% | ||||
Percentage of increase on exchange rate of foreign currency | 5.00% | ||||
Percentage of decrease on exchange rate of foreign currency | 5.00% | ||||
Interest Rate Risk | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Borrowings, interest rate basis | 1.00% | 1.00% | |||
Decrease (increase) in pre-tax loss | $ 153,860 | $ 74,189 | |||
Level 3 | Historical Volatility For Shares Measurement Input | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Historical volatility | 84.63% |
Financial Instruments - Summary
Financial Instruments - Summary of Categories of Financial Instruments (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Financial assets at fair value through profit or loss | ||
Derivative financial assets | $ 0 | $ 137,926 |
Financial assets at amortized cost | 94,240,208 | 14,427,678 |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | 0 | 267,000 |
Financial liabilities at amortized cost | $ 18,623,894 | $ 24,228,678 |
Financial Instruments - Summar
Financial Instruments - Summary of Significant Financial Assets and Liabilities Denominated in Foreign Currencies (Detail) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021SGD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020GBP (£)SGD ($) | Dec. 31, 2020SGD ($) | |
Disclosure of detailed information about financial instruments [abstract] | ||||
Financial assets, Foreign Currencies | $ 2,480,688 | £ 49,524 | £ 49,524 | $ 458,878 |
Financial assets, Exchange Rate | 0.7437 | 1.3651 | 0.7566 | |
Financial assets, Carrying Amount | $ 1,844,888 | £ 67,605 | £ 67,605 | 347,187 |
Financial liabilities, Foreign Currencies | $ (15,581,025) | £ (184,320) | £ (184,320) | (15,722,226) |
Financial liabilities, Exchange Rate | 0.7437 | 1.3651 | 0.7566 | |
Financial Liabilities, Carrying Amount | $ (11,587,608) | £ (251,615) | £ (251,615) | $ (11,895,436) |
Financial Instruments - Sensiti
Financial Instruments - Sensitivity Analysis of Foreign Currency Risk (Detail) | 6 Months Ended | |||
Jun. 30, 2021GBP (£) | Jun. 30, 2021SGD ($) | Jun. 30, 2020GBP (£) | Jun. 30, 2020SGD ($) | |
Foreign Currency Risk | ||||
Disclosure Of Nature And Extent Of Risks Arising From Financial Instruments [Line Items] | ||||
Impact of a 5% change in foreign exchange rates on profit or loss | £ (8,840) | $ (487,150) | £ 42,523 | $ (501,842) |
Transactions with Related Par_3
Transactions with Related Parties - Schedule of a Related Party Name and Category (Detail) | 6 Months Ended |
Jun. 30, 2021 | |
JANK Howden Pty Ltd | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Related party name | JANK Howden Pty Ltd |
Related party category | Related party in substance |
Others | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Related party name | Others |
Related party category | Key Management Personnel |
Transactions with Related Par_4
Transactions with Related Parties - Schedule of Loans from Related Parties (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | $ 0 | $ 550,000 |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | 0 | 500,000 |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | $ 0 | $ 50,000 |
Transactions with Related Par_5
Transactions with Related Parties - Schedule of Interest Payable from Related Parties (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | $ 0 | $ 67,912 |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | 0 | 61,711 |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | $ 0 | $ 6,201 |
Transactions with Related Par_6
Transactions with Related Parties - Schedule of Interest Expense from Related Parties (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest on loans from related parties | $ 50,074 | $ 41,484 |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest on loans from related parties | 45,522 | 37,713 |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest on loans from related parties | $ 4,552 | $ 3,771 |
Transactions with Related Par_7
Transactions with Related Parties - Schedule of Key Management Personnel Compensation (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Transactions Between Related Parties [Abstract] | ||
Short-term employee benefits | $ 1,073,166 | $ 927,751 |
Post-employment benefits | 58,300 | 43,254 |
Share-based payments recognized | 765,201 | 166,992 |
Key management personnel compensation | $ 1,896,667 | $ 1,137,997 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2021USD ($)Segment | Jun. 30, 2020USD ($) | |
Disclosure Of Operating Segments [Line Items] | ||
Number of reportable segment | Segment | 1 | |
Revenue | $ | $ 0 | $ 0 |
Material License Agreements - A
Material License Agreements - Additional Information (Detail) - CSL Limited [member] $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Material License Agreements [Line Items] | |
Initial payment upon commencement of a Phase 3 clinical trial | $ 30 |
Payments based on certain regulatory milestones are achieved | 95 |
Payments based on certain Sales milestones are achieved | $ 655 |
Percentage of royalties on net sales description | mid-single digit percentage and 10% |
Percentage of royalties on net sales | 10.00% |
Other Items_ Subsequent Events
Other Items/ Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Jul. 13, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of non-adjusting events after reporting period [line items] | |||
Par value per share | $ 0.01 | $ 0.01 | |
Non Adjusting Event After Reporting Period [Member] | K2 Health Venture [Member] | Secured Loan Facility [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Long Term Borrowings | $ 45 | ||
Borrowings, interest rate | 2.95% | ||
Borrowings, maturity | July 12, 2031 | ||
Line of credit facility current borrowing capacity | $ 20 | ||
Par value per share | $ 0.5257 | ||
Line of credit facility, remaining borrowing capacity | $ 25 | ||
Non Adjusting Event After Reporting Period [Member] | K2 Health Venture [Member] | Secured Loan Facility [Member] | American Depositary Share [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Par value per share | $ 2.6285 | ||
Convertible Loan Liabilities [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Repayment of convertible loan liabilities | $ 4.2 | ||
Convertible loan liabilities principal amount | 4 | ||
Convertible loan liabilities accrued interest | $ 0.2 |