XML 49 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue      
Licensing and collaboration revenue $ 9,292,724 $ 10,175,258 $ 700,913
Expenses      
Research and development expenses (81,339,540) (68,099,385) (33,538,035)
Third parties (46,212,077) (55,020,367) (23,645,740)
Related parties (35,127,463) (13,079,018) (9,892,295)
Administrative expenses (11,873,867) (14,439,962) (10,314,536)
Loss from operations (83,920,683) (72,364,089) (43,151,658)
Interest income 377,501 76,166 629,288
Interest expense (693,323) (363,762) (202,165)
Other income, net 2,168,388 1,778,822 971,949
Foreign exchange gain (loss), net 2,555,325 (603,459) (644,693)
Loss before income tax (79,512,792) (71,476,322) (42,397,279)
Income tax expense (459,055) (1,701,613)  
Net loss attributable to Adagene Inc.'s shareholders (79,971,847) (73,177,935) (42,397,279)
Other comprehensive income (loss)      
Foreign currency translation adjustments, net of nil tax (755,324) 257,000 (6,087)
Total comprehensive loss attributable to Adagene Inc.'s shareholders (80,727,171) (72,920,935) (42,403,366)
Net loss attributable to Adagene Inc.'s shareholders (79,971,847) (73,177,935) (42,397,279)
Accretion of convertible redeemable preferred shares to redemption value   (28,553) (248,113)
Net loss attributable to ordinary shareholders $ (79,971,847) $ (73,206,488) $ (42,645,392)
Weighted average number of ordinary shares used in per share calculation:      
-Basic 54,135,084 50,032,009 15,950,698
-Diluted 54,135,084 50,032,009 15,950,698
Net loss per ordinary share      
-Basic $ (1.48) $ (1.46) $ (2.67)
-Diluted $ (1.48) $ (1.46) $ (2.67)