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PREPAYMENTS AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

PREPAYMENTS AND OTHER CURRENT ASSETS

Summary of prepayments and other current assets

​

​	​	​	​	​
​	​	As of December 31,
​		2021		2022
​	​	US$	​	US$
Prepayments		1,562,177		1,161,910
Deposits (a)		1,873,843		2,970,421
Others		619,901		804,992
​		4,055,921		4,937,323

Note (a): The deposits represented the amounts that the Group paid to its CRO vendors for various outsourced research and development programs according to the terms of respective CRO agreements. The Group expects to recover the deposits if the programs fail or the agreements are cancelled.

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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