6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

August 12, 2022

(Commission File No. 001-38475)

ASLAN PHARMACEUTICALS LIMITED

(REG. NO. 289175)

(Translation of registrant’s name into English)

CAYMAN ISLANDS

(Jurisdiction of incorporation or organization)

83 CLEMENCEAU AVENUE

#12-03 UE SQUARE

SINGAPORE 239920

(Address of registrant’s principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):

Yes ☐        No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):

Yes ☐        No ☒

Announcement of Second Quarter 2022 Financial Results and Corporate Update

On August 12, 2022, ASLAN Pharmaceuticals Limited (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2022 and providing an update on recent corporate activities.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

Financial Statements

On August 12, 2022, the Company issued its condensed consolidated financial statements for the six months ended June 30, 2022 (the “Financial Statements”).

A copy of the Financial Statements is attached hereto as Exhibit 99.2 and is incorporated by reference herein.

The information contained in this Form 6-K is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-234405), Registration Statement on Form F-3 (File No. 333-252575), Registration Statement on Form F-3 (File No. 333-254768), Registration Statement on Form S-8 (File No. 333-252118) and Registration Statement on Form S-8 (File No. 333-263843).

Forward Looking Statements

This Form 6-K contains forward-looking statements. These statements are based on the current beliefs and expectations of the management of the Company. These forward-looking statements may include, but are not limited to, statements regarding the Company’s business strategy and clinical development plans; the Company’s plans to develop and commercialize eblasakimab and farudodsta; the safety and efficacy of eblasakimab and farudodstat; the potential of eblasakimab as a first-in-class treatment for atopic dermatitis and of farudodstat as a treatment for autoimmune disease; and the Company’s cash runway. The Company’s estimates, projections and other forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and inherently involve significant known and unknown risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation the risk factors described in the Company’s U.S. Securities and Exchange Commission (the “SEC”) filings and reports (Commission File No. 001-38475), including the Company’s Annual Report on Form 20-F filed with the SEC on March 25, 2022.

All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Estimates, projections and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection or forward-looking statement.

Exhibits

Exhibit Number	Exhibit Description
99.1	Press release dated August 12, 2022
99.2	ASLAN Pharmaceuticals Limited Financial Statements for the six months ended June 30, 2022
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

ASLAN PHARMACEUTICALS LIMITED (Registrant)
By:	/s/ Kiran Kumar Asarpota
Name:	Kiran Kumar Asarpota
Title:	Chief Operating Officer

Date: August 12, 2022

EX-99.1

Exhibit 99.1

PRESS RELEASE

ASLAN PHARMACEUTICALS REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

- Company maintains healthy operating position with US$78.1 million in cash, cash equivalents and short-term investments as of June 30, 2022, runway through late 2023

- Three abstracts showcasing new findings related to eblasakimab have been accepted as e-posters at the 31^st European Academy of Dermatology and Venereology (EADV) Annual Congress, from September 7 to 10, 2022, in Milan, Italy

- The Phase 2b TREK-AD trial for eblasakimab in moderate-to-severe AD is on track to generate topline data in the first half of 2023

- Company to host R&D Day; details will follow closer to the date of September 15, 2022

California and Singapore, August 12, 2022 – ASLAN Pharmaceuticals (Nasdaq: ASLN), a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced financial results for the second quarter ended June 30, 2022, and provided an update on recent corporate activities.

“This quarter, we advanced our understanding of eblasakimab’s differentiated profile and its role in reducing pruritic neuronal responses – which remains one of the most burdensome symptoms for AD patients – with late-breaking data presented at the Society for Investigative Dermatology meeting,” stated Dr Carl Firth, CEO, ASLAN Pharmaceuticals. “These insights, and those that we are building with the initiation of new research collaborations related to eblasakimab’s unique mechanism of action, contribute key data on the distinct biological effects of eblasakimab’s selective targeting of the Type 2 receptor and its differentiation from current standard-of-care therapies. We look forward to sharing new insights on eblasakimab at the upcoming EADV Annual Congress in September as we continue to progress the TREK-AD trial of eblasakimab in moderate-severe AD and remain on track for a topline data readout from the trial in the first half of 2023.”

Second quarter 2022 and recent business highlights

Eblasakimab

• In May, the Company presented new, late-breaking data on insights related to neuronal itch mechanisms through eblasakimab’s targeting of IL-13Ra1 at the Society for Investigative Dermatology (SID) Annual Meeting. The findings demonstrated that eblasakimab significantly reduced cytokine-enhanced neuronal responses to IL-4 and IL-13-driven itch by more than 40% versus control conditions (p=0.0001), and suggest eblasakimab’s unique mechanism of blocking IL-13Ra1 could provide a molecular basis for the significant reduction of pruritis scores observed in eblasakimab-treated moderate-to-severe AD patients in the Phase 1b clinical trial. Further data from the translational studies will be shared in the second half of 2022.

• In June, the Company initiated a scientific collaboration with Dr Shawn Kwatra from Johns Hopkins University School of Medicine and Dr Madan Kwatra from Duke University Medical Center to explore the distinct role of IL-13 receptor signaling in AD. The collaboration is evaluating how IL-13Ra1-mediated allergic, inflammatory and regulatory pathways are affected by eblasakimab’s selective targeting of the Type 2 receptor. Research findings will be disclosed for presentation during the second half of 2022.

• In June, the Company hosted the third episode in its series of Key Opinion Leader (KOL) webinars, the “A⁴ (Aspects of Atopic Dermatitis and ASLAN004/eblasakimab) Series: ‘Dialogues with International Thought Leaders in Dermatology’”. Peter Lio MD, Clinical Assistant Professor of Dermatology and Pediatrics at Northwestern University, discussed the limitations of the current treatment landscape in AD and the resulting unmet medical needs in patients who do not respond optimally to current standards of care. All three webinar episodes from the A⁴ series are available for replay here.

Farudodstat (ASLAN003)

• In June, based on emerging clinical data for DHODH inhibitors in inflammatory bowel disease, the Company decided to prioritize the further development of farudodstat in autoimmune skin diseases. A clinical development plan is being finalized and a Phase 2 trial is expected to commence in the first half of 2023.

Anticipated upcoming milestones

• Three abstracts with new data on biomarkers and patient reported outcome measures from the Phase 1b proof-of-concept trial of eblasakimab have been accepted for e-poster presentation at the 31^st EADV Annual Congress held in person and virtually, from September 7 to 10, 2022, in Milan, Italy.

• The Company will host a Research and Development (R&D) Day on September 15, 2022, with a hybrid in-person and virtual format. More information will be announced in the weeks ahead.

• Topline data from the Phase 2b TREK-AD trial of eblasakimab is expected in the first half of 2023.

Second quarter 2022 financial highlights

• Cash used in operating activities for the second quarter of 2022 was US$9.7 million compared to US$6.9 million in the same period in 2021.

• Cash, cash equivalents and short-term investments as of June 30, 2022, were US$78.1 million.

• Research and development expenses were US$10.0 million in the second quarter of 2022 compared to US$4.0 million in the second quarter of 2021. The increase was due to clinical development expenses and manufacturing costs related to eblasakimab TREK-AD Phase 2b trial.

• General and administrative expenses were US$2.3 million in the second quarter of 2022 compared to US$3.8 million in the second quarter of 2021.

• Net loss attributable to stockholders for the second quarter of 2022 was US$13.0 million compared to a net loss of US$5.4 million for the second quarter of 2021.

• The weighted average number of American Depositary Shares (ADS) outstanding in the computation of basic loss per share for the second quarter of 2022 was 69.7 million (representing 348.7 million ordinary shares) compared to 69.6 million (representing 347.8 million ordinary shares) for the second quarter of 2021. One ADS is the equivalent of five ordinary shares.

ASLAN Pharmaceuticals Limited

CONSOLIDATED BALANCE SHEETS

(In US Dollars)

	December 31, 2021 (audited)			June 30, 2022 (audit reviewed)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	90,167,967		$	61,576,463
Short-term investments		—			16,543,352
Total cash, cash equivalents, and short-term investments		90,167,967			78,119,815
Other assets		3,612,846			2,244,246
Total current assets	$	93,780,813		$	80,364,061
NON-CURRENT ASSETS
Investment in associate company		494,728			132,247
Property, plant and equipment		34,979			44,596
Right-of-use assets		197,746			65,344
Intangible assets		9,956			7,896
Total non-current assets		737,409			250,083
TOTAL ASSETS	$	94,518,222		$	80,614,144
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables	$	3,116,786		$	9,442,905
Other payables		2,817,909			1,913,020
Lease liabilities - current		199,124			50,117
Financial liabilities at fair value through profit or loss		223,352			119,351
Total current liabilities		6,357,171			11,525,393
NON-CURRENT LIABILITIES
Long-term borrowings		30,857,308			36,420,039
Total non-current liabilities		30,857,308			36,420,039
Total liabilities		37,214,479			47,945,432
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY
Ordinary shares		63,019,962			63,019,962
Capital surplus		221,467,061			222,803,698
Accumulated deficits		(227,004,332	)		(252,976,000	)
Other reserves		(178,948	)		(178,948	)
Total equity attributable to stockholders of the Company		57,303,743			32,668,712
Total equity		57,303,743			32,668,712
TOTAL LIABILITIES AND EQUITY	$	94,518,222		$	80,614,144

ASLAN Pharmaceuticals Limited

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In US Dollars, other than shares or share data)

	For the Three Months Ended June 30						For the Six Months Ended June 30
	2021			2022			2021			2022
OPERATING EXPENSES
General and administrative expenses	$	(3,788,772	)	$	(2,319,516	)	$	(6,893,836	)	$	(4,855,050	)
Research and development expenses		(4,044,521	)		(9,980,936	)		(7,795,493	)		(19,339,046	)
Total operating expenses		(7,833,293	)		(12,300,453	)		(14,689,329	)		(24,194,095	)
LOSS FROM OPERATIONS		(7,833,293	)		(12,300,453	)		(14,689,329	)		(24,194,095	)
NON-OPERATING INCOME AND EXPENSES
Other income		340,076			37,420			340,076			156,749
Interest income		20			41,373			157			43,797
Gain on dilution of subsidiary and recognition of associate		2,307,735			—			2,307,735			—
Impairment loss of associate accounted for using equity method		—			(50,109	)		—			(50,109	)
Other gains and losses		22,451			268,059			319,636			344,683
Finance costs		(203,428	)		(877,300	)		(614,902	)		(1,960,321	)
Total non-operating income and expenses		2,466,854			(580,557	)		2,352,702			(1,465,201	)
Share in losses of associated company, accounted for using equity method		(81,880	)		(153,871	)		(81,880	)		(312,372	)
LOSS BEFORE INCOME TAX		(5,448,319	)		(13,034,881	)		(12,418,507	)		(25,971,668	)
INCOME TAX EXPENSE		—			—			—			—
NET LOSS FOR THE PERIOD		(5,448,319	)		(13,034,881	)		(12,418,507	)		(25,971,668	)
OTHER COMPREHENSIVE LOSS
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		—			—			—			—
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$	(5,448,319	)	$	(13,034,881	)	$	(12,418,507	)	$	(25,971,668	)
NET LOSS ATTRIBUTABLE TO:
Stockholders of the Company	$	(5,429,026	)	$	(13,034,881	)	$	(12,149,543	)	$	(25,971,668	)
Non-controlling interests		(19,293	)		—			(268,964	)		—
	$	(5,448,319	)	$	(13,034,881	)	$	(12,418,507	)	$	(25,971,668	)
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO:
Stockholders of the Company	$	(5,429,026	)	$	(13,034,881	)	$	(12,149,543	)	$	(25,971,668	)
Non-controlling interests		(19,293	)		—			(268,964	)		—
	$	(5,448,319	)	$	(13,034,881	)	$	(12,418,507	)	$	(25,971,668	)
LOSS PER ORDINARY SHARE
Basic and diluted	$	(0.02	)	$	(0.04	)	$	(0.04	)	$	(0.07	)
LOSS PER EQUIVALENT ADS
Basic and diluted	$	(0.08	)	$	(0.19	)	$	(0.20	)	$	(0.35	)
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share		347,799,933			348,723,365			302,985,377			348,723,365
Weighted-average number of ADS in the computation of basic loss per ADS		69,559,987			69,744,673			60,597,075			69,744,673

Each ADS represents five ordinary shares

About ASLAN Pharmaceuticals

ASLAN Pharmaceuticals (Nasdaq: ASLN) is a clinical-stage, immunology-focused biopharmaceutical company developing innovative treatments to transform the lives of patients. ASLAN is currently evaluating eblasakimab (also known as ASLAN004), a potential first-in-class antibody targeting the IL-13 receptor, in atopic dermatitis, and farudodstat (also known as ASLAN003), a potent oral inhibitor of the enzyme DHODH, in autoimmune disease. ASLAN has a team in California, and in Singapore. For additional information please visit www.aslanpharma.com or follow ASLAN on LinkedIn.

Forward looking statements

This release contains forward-looking statements. These statements are based on the current beliefs and expectations of the management of ASLAN Pharmaceuticals Limited and/or its affiliates (the “Company”). These forward-looking statements may include, but are not limited to, statements regarding the Company’s business strategy and clinical development plans; the Company’s plans to develop and commercialize eblasakimab and farudodstat; the safety and efficacy of eblasakimab and farudodstat; the Company’s plans and expected timing with respect to clinical trials, clinical trial enrollment and clinical trial results for eblasakimab and farudodstat; the potential of eblasakimab as a first-in-class treatment for atopic dermatitis and of farudodstat as a treatment for autoimmune disease; and the Company’s cash runway. The Company’s estimates, projections and other forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations, or financial performance, and inherently involve significant known and unknown risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of many risks and uncertainties, which include, unexpected safety or efficacy data observed during preclinical or clinical studies; clinical site activation rates or clinical trial enrollment rates that are lower than expected; the impact of the COVID-19 pandemic or the ongoing conflict between Ukraine and Russia on the Company’s business and the global economy; general market conditions; changes in the competitive landscape; and the Company’s ability to obtain sufficient financing to fund its strategic and clinical development plans. Other factors that may cause actual results to differ from those expressed or implied in such forward-looking statements are described in the Company’s US Securities and Exchange Commission filings and reports (Commission File No. 001- 38475), including the Company’s Annual Report on Form 20-F filed with the US Securities and Exchange Commission on March 25, 2022. All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections, and other forward-looking statements. Estimates, projections, and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement.

Ends

Media and IR contacts

Emma Thompson Spurwing Communications Tel: +65 6206 7350 Email: ASLAN@spurwingcomms.com Ashley R. Robinson LifeSci Advisors, LLC Tel: +1 (617) 430-7577 Email: arr@lifesciadvisors.com

EX-99.2

Exhibit 99.2

ASLAN PHARMACEUTICALS LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In U.S. Dollars, other than shares or share data, or otherwise noted)

(Unaudited)

	December 31, 2021			June 30, 2022
ASSETS
CURRENT ASSETS
Cash and cash equivalents (Note 6)	$	90,167,967		$	61,576,463
Short-term investments (Notes 7 and 12)		—			16,543,352
Total cash, cash equivalents, and short-term investments		90,167,967			78,119,815
Other assets (Note 8)		3,612,846			2,244,246
Total current assets		93,780,813			80,364,061
NON-CURRENT ASSETS
Investment in associate company (Notes 9 and 10)		494,728			132,247
Property, plant and equipment, net		34,979			44,596
Right-of-use assets		197,746			65,344
Intangible assets		9,956			7,896
Total non-current assets		737,409			250,083
TOTAL ASSETS	$	94,518,222		$	80,614,144
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables	$	3,116,786		$	9,442,905
Other payables (Note 11)		2,817,909			1,913,020
Lease liabilities – current		199,124			50,117
Financial liabilities at fair value through profit or loss (Note 20)		223,352			119,351
Total current liabilities		6,357,171			11,525,393
NON-CURRENT LIABILITIES
Long-term borrowings (Note 12)		30,857,308			36,420,039
Total non-current liabilities		30,857,308			36,420,039
TOTAL LIABILITIES		37,214,479			47,945,432
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY
Ordinary shares (Note 13)		63,019,962			63,019,962
Capital, share options and other reserves		221,467,061			222,803,698
Accumulated deficits		(227,004,332	)		(252,976,000	)
Other reserves		(178,948	)		(178,948	)
Total equity attributable to stockholders of the Company		57,303,743			32,668,712
Total equity		57,303,743			32,668,712
TOTAL LIABILITIES AND EQUITY	$	94,518,222		$	80,614,144

The accompanying notes are an integral part of the condensed consolidated financial statements.

F-1

ASLAN PHARMACEUTICALS LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In U.S. Dollars, other than shares or share data, or otherwise noted)

(Unaudited)

	For the six months ended June 30
	2021			2022
NET REVENUE	$	—		$
COST OF REVENUE		—
GROSS PROFIT		—
OPERATING EXPENSES (Notes 14 and 17)
General and administrative expenses		(6,893,836	)		(4,855,050	)
Research and development expenses		(7,795,493	)		(19,339,045	)
Total operating expenses		(14,689,329	)		(24,194,095	)
LOSS FROM OPERATIONS		(14,689,329	)		(24,194,095	)
NON-OPERATING INCOME AND EXPENSES
Other income (Note 14)		340,076			156,749
Interest income		157			43,797
Gain on dilution of subsidiary and recognition of associate (Note 10)		2,307,735			—
Impairment loss of associate accounted for using equity method		—			(50,109	)
Other gains		319,636			344,683
Finance costs (Note 14)		(614,902	)		(1,960,321	)
Total non-operating income and expenses		2,352,702			(1,465,201	)
Share in losses of associated company, accounted for using equity method		(81,880	)		(312,372	)
LOSS BEFORE INCOME TAX		(12,418,507	)		(25,971,668	)
INCOME TAX EXPENSE (Note 15)		—			—
NET LOSS FOR THE PERIOD		(12,418,507	)		(25,971,668	)
OTHER COMPREHENSIVE LOSS
Items that will not be reclassified subsequently to profit or loss:		—			—
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$	(12,418,507	)	$	(25,971,668	)
NET LOSS ATTRIBUTABLE TO
Stockholders of the Company	$	(12,149,543	)	$	(25,971,668	)
Non-controlling interests		(268,964	)		—
	$	(12,418,507	)	$	(25,971,668	)
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO
Stockholders of the Company	$	(12,149,543	)	$	(25,971,668	)
Non-controlling interests		(268,964	)		—
	$	(12,418,507	)	$	(25,971,668	)
LOSS PER ORDINARY SHARE (Note 16)
Basic and diluted	$	(0.04	)	$	(0.07	)
LOSS PER EQUIVALENT ADS (Note 16)
Basic and diluted	$	(0.20	)	$	(0.35	)

Each ADS represents five ordinary shares.

The accompanying notes are an integral part of the condensed consolidated financial statements.

F-2

ASLAN PHARMACEUTICALS LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In U.S. Dollars, other than shares or share data, or otherwise noted)

(Unaudited)

	Ordinary Shares (Note 13)				Capital Surplus, share options and other reserves
	Number of shares		Amount		Ordinary Shares			Share Options Reserve			Other			Total			Accumulated Deficits			Unrealized Valuation Loss on Financial Assets at Fair Value Through Other Comprehensive Income			Non- controlling Interests (Note 8)			Total Equity
BALANCE AT JANUARY 1, 2021		209,675,470	$	61,826,237	$	115,754,741		$	6,406,791		$	1,420,928		$	123,582,460		$	(195,682,714	)	$	(178,948	)	$	300,681		$	(10,152,284	)
Issuance of new share capital (Note 13)		136,412,540	$	1,167,371	$	100,388,337		$	—		$	—		$	100,388,337		$	—		$	—		$	—		$	101,555,708
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		572,500	$	5,725	$	714,275		$	(505,500	)	$	—		$	208,775		$	—		$	—		$	—		$	214,500
Recognition of employee share options by the company (Note 13)		—	$	—	$	—		$	1,564,673		$	—		$	1,564,673		$	—		$	—		$	—		$	1,564,673
Warrants exercised		1,425,550	$	14,256	$	561,143		$	—		$	—		$	561,143		$	—		$	—		$	—		$	575,399
Non-controlling interests derecognized due to dilution of subsidiary (Note 10)		—	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	(31,717	)	$	(31,717	)
Other comprehensive income due to dilution of subsidiary (Note 10)		—	$	—	$	—		$	—		$	(1,376,349	)	$	(1,376,349	)	$	—		$	—		$	—		$	(1,376,349	)
Net loss for the six months ended June 30, 2021		—	$	—	$	—		$	—		$	—		$	—		$	(12,149,543	)	$	—		$	(268,964	)	$	(12,418,507	)
Total comprehensive loss for the six months ended June 30, 2021		—	$	—	$	—		$	—		$	—		$	—		$	(12,149,543	)	$	—		$	(268,964	)	$	(12,418,507	)
BALANCE AT JUNE 30, 2021		348,086,060	$	63,013,589	$	212,841,825		$	7,465,964		$	44,579		$	220,352,368		$	(207,832,257	)	$	(178,948	)	$	—		$	75,354,752
BALANCE AT JANUARY 1, 2022		348,723,365	$	63,019,962	$	213,098,729		$	8,323,753		$	44,579		$	221,467,061		$	(227,004,332	)	$	(178,948	)	$	—		$	57,303,743
Recognition of employee share options by the company (Note 13)		—	$	—	$	—		$	1,336,637		$	—		$	1,336,637		$	—		$	—		$	—		$	1,336,637
Net loss for the six months ended June 30, 2022		—	$	—	$	—		$	—		$	—		$	—		$	(25,971,668	)	$	—		$	—		$	(25,971,668	)
Total comprehensive loss for the six months ended June 30, 2022		—	$	—	$	—		$	—		$	—		$	—		$	(25,971,668	)	$	—		$	—		$	(25,971,668	)
BALANCE AT JUNE 30, 2022		348,723,365	$	63,019,962	$	213,098,729		$	9,660,390		$	44,579		$	222,803,698		$	(252,976,000	)	$	(178,948	)	$	—		$	32,668,712

The accompanying notes are an integral part of the condensed consolidated financial statements.

F-3

ASLAN PHARMACEUTICALS LIMITED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In U.S. Dollars, other than shares or share data, or otherwise noted)

(Unaudited)

	For the six months ended June 30
	2021			2022
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before income tax	$	(12,418,507	)	$	(25,971,668	)
Adjustments for:
Depreciation expenses		141,321			140,492
Amortization expenses		504			2,060
Net gain on fair value changes of financial assets measured at fair value through profit or loss		(129,075	)		(104,001	)
Finance costs		614,902			1,960,321
Interest income		(157	)		(43,797	)
Compensation costs recognized of share-based payment transactions		2,329,874			955,673
Gain on dilution of subsidiary and recognition of associate		(2,307,735	)		—
Share of results of associate accounted for using equity method		81,880			312,372
Impairment loss of associate accounted for using equity method		—			50,109
Net gain on fair value changes of short-term investments measured at fair value through profit or loss		—			(30,846	)
Unrealized gain on foreign exchange, net		(192,176	)		(344,266	)
Changes in operating assets and liabilities
Decrease in other assets		424,837			1,368,600
(Decrease) Increase in trade payables		(272,771	)		6,326,120
Decrease in other payables		(1,531,218	)		(577,153	)
Cash used in operations		(13,258,321	)		(15,955,984	)
Interest received		157			43,797
Interest paid		(1,223,529	)		(1,000,096	)
Income tax paid		—			—
Net cash used in operating activities		(14,481,693	)		(16,912,283	)
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for property, plant and equipment		(4,211	)		(17,707	)
Acquisition of intangible assets		(12,360	)		—
Purchase of short-term investments		—			(16,537,462	)
Proceeds from disposal or redemption of short-term investments		—			24,955
Increase in refundable deposits		(16,743	)		—
Net cash used in investing activities		(33,314	)		(16,530,214	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long term borrowings		—			5,000,000
Repayment on long term borrowings		(3,250,000	)		—
Repayment of the principal portion of lease liabilities		(208,142	)		(149,007	)
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 from financing activities		94,310,794			4,850,993
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		79,795,787			(28,591,504	)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD		14,324,371			90,167,967
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	$	94,120,158		$	61,576,463

Non-cash transactions

As disclosed in Note 9, the Company’s shareholding in Jaguahr Therapeutics Pte. Ltd in April 2021 was diluted as a result of which, the Company’s majority controlling interest was lost. However, the Company retains significant influence and thus the former subsidiary is recognised as an associated company. The foregoing is accounted for as a non-cash equity transaction, using the equity method.

The accompanying notes are an integral part of the condensed consolidated financial statements.

F-4

ASLAN PHARMACEUTICALS LIMITED AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021

(In U.S. Dollars, other than shares or share data, or otherwise noted)

(Unaudited)

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 (“ADS”) 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 eblasakimab (also known as ASLAN004), a potential first-in-class human monoclonal antibody that binds to the IL-13 receptor, blocking signaling of two pro-inflammatory cytokines, IL-4 and IL-13 which are central to triggering symptoms of atopic dermatitis, such as redness and itching of the skin.

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 ADS 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.

Both the reporting and functional currency of the Company is the U.S. dollar.

2. APPROVAL OF FINANCIAL STATEMENTS

The accompanying condensed consolidated financial statements were approved by the Company’s Audit Committee on August 12, 2022.

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 reporting period.

The Company has applied the amendments to IFRSs including Amendments to IFRS 3 “Reference to the Conceptual Framework”, Annual Improvements to IFRS Standards 2018 – 2020 including IFRS 9 “Fees in ‘10 Percent Test’”, IFRS 16 “Lease Incentives”, and IAS 41 “Taxation in fair value measurement” which were issued by the IASB on or before April 30, 2022 effective for annual periods that began on or after January 1, 2022. The application of these amendments has had no significant impact on the disclosures or amounts recognized in the Company’s condensed consolidated financial statements. 

F-5

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)
Amendments to IAS 1 “Classification of Liabilities as Current or Non-current”	January 1, 2023 (Note 2)
IFRS 17 “Insurance Contracts”	January 1, 2023
Amendments to IFRS 17	January 1, 2023
Amendments to IAS 1 and IFRS Practice Statement 2 “Disclosure of Accounting Policies”	To be determined by IASB
Amendments to IAS 8 “Definition of Accounting Estimates”	January 1, 2023
Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”	January 1, 2023

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 effective date of Amendments to IAS 1 was deferred to January 1, 2023 from originally January 1, 2022. In November 2021, the IASB published the Exposure Draft: Non-current liabilities with Covenants (Proposed amendments to IAS 1) to propose further changes to requirements for classifying as current or non-current and to defer the effective date to no earlier than January 1, 2024.
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.

F-6

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

The accounting policies applied in these condensed consolidated financial statements are the same as those applied in the Company’s consolidated financial statements as of and for the year ended December 31, 2021.

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, 2021.

F-7

6. CASH AND CASH EQUIVALENTS

	December 31, 2021		June 30, 2022
Cash in bank	$	90,167,967	$	48,056,304
Money market fund		—		10,120,088
Commercial paper		—		2,795,199
Corporate fixed income		—		604,872
	$	90,167,967	$	61,576,463

As disclosed in Note 13, the Company has raised $97.0 million (net proceeds) from the issuance of ADS in the 6 months period ended June 30, 2021.

In February 2022, the Company engaged an asset management bank to obtain better returns on the Company’s cash with an initial portfolio size of $30.0 million pursuant to Company’s Investment Policy. The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents as they were subject to an insignificant risk of changes in value. The average coupon rate for the cash equivalents products ranged from 1.28% to 2.15% as of June 30, 2022.

7. SHORT-TERM INVESTMENTS

	December 31,		June 30,
	2021		2022
Short-term investments	$	—	$	16,543,352

Following the asset management portfolio described in Note 6, the Company also purchased short-term investments pursuant to the Company’s Investment Policy during the six-months ended June 30, 2022. The short-term investments of the Company are primarily intended to facilitate liquidity and capital preservation. They consist predominantly of highly liquid investment-grade fixed-income securities with credit rating A- or higher, US Government securities, and financial money market fund, with maturities of less than six months. Thus, these short-term investments have been classified as financial assets at Fair Value Through Profit or Loss (“FVTPL”). The average coupon rate for the short-term investment products ranged from 0.35% to 2% as of June 30, 2022.

8. OTHER ASSETS

	December 31,		June 30,
	2021		2022
Current
Prepayments	$	2,733,753	$	2,160,016
Refundable deposits		879,093		84,230
	$	3,612,846	$	2,244,246

The prepayments are the advanced funds paid to the Company’s contract research organizations (“CROs”) for commencement of the Company’s clinical trials and related preparation work.

The refundable deposits are the receivables due from the Company’s CRO after the final reconciliation upon the project completion and office deposits refundable in normal business course. All refundable deposits are current as of December 31, 2021, and June 30, 2022.

F-8

9. DETAILS OF SUBSIDIARIES THAT HAVE MATERIAL NON-CONTROLLING INTERESTS

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.

On April 28, 2021, the Company’s shareholding was diluted from 55% to 35% resulting in a loss of control. The Company did not consolidate Jaguahr Therapeutics Pte. Ltd. as a subsidiary post dilution. For the six months ended June 30, 2021, the Company recognized a loss of $268,964 from Jaguahr Therapeutics Pte. Ltd. representing the amount allocated to non-controlling interests prior to the dilution. For the six months ended June 30, 2021, the company recognized a share of losses of $81,880 from Jaguahr Therapeutics Pte. Ltd. after the dilution. Please refer to Note 10 for details.

10. INVESTMENT IN ASSOCIATE COMPANY

Details of the material associate:

			Proportion of Ownership and Voting Rights Held by the Company
Name	Principal Activity	Principal Place of Business	December 31, 2021	June 30, 2022
Jaguahr Therapeutics Pte. Ltd.	New drug research and development	Singapore	35%	35%

* On April 28, 2021, the Company’s shareholding was diluted from 55% to 35% resulting in a loss of control as further detailed above. A gain on dilution of subsidiary of $2,307,735 represents 1) the classification of the capital reserve of $1,376,349, 2) non-controlling interest derecognised of $31,717 at the date of dilution and 3) 35% of the fair value of net identifiable assets of Jaguahr Therapeutics Pte. Ltd. at the date of the dilution being recognised for the year ended December 31, 2021. 

Summarized financial information of Jaguahr Therapeutics Pte. Ltd. is set out below. The summarized financial information below represents amounts in associate company financial statements prepared in accordance with IFRS.

	December 31,			June 30,
	2021			2022
Current assets	$	1,384,013		$	720,107
Current liabilities		(113,674	)		(342,258	)
Equity	$	1,270,339		$	377,849

F-9

	For the Period Ended June 30
	2021			2022
Revenue	$	—		$	—
Loss for the period, representing total comprehensive loss for the period	$	(1,897,844	)	$	(892,490	)
Attributable to:
Stockholders of the Company	$	(1,628,880	)	$	(580,118	)
Non-controlling interests		(268,964	)		(312,372	)
	$	(1,897,844	)	$	(892,490	)

Movements in investment in associate company are as follows:

	December 31,		June 30,
	2021		2022
Net assets of associate	$	1,270,339	$	377,849
Beginning balance	$	—	$	494,728
Share of results of associate accounted for using equity method		444,619		(312,372	)
Loss of interest at the date of dilution of shares in the associate		50,109		—
Impairment loss of associate accounted for using equity method		—		(50,109	)
Ending balance	$	494,728	$	132,247

11. OTHER PAYABLES

	December 31,		June 30,
	2021		2022
Payables for cash-settled share-based payment transactions (Note 17)	$	701,582	$	320,618
Payables for salaries and bonuses		1,387,416		818,090
Interest payables		142,083		195,313
Payables for professional fees		507,340		470,570
Others		79,488		108,429
	$	2,817,909	$	1,913,020

F-10

12. BORROWINGS

	December 31,		June 30,
	2021		2022
Long-term borrowings – Unsecured
Loans from government (a)	$	7,341,127	$	7,121,220
Other long-term borrowings (b)		19,521,647		25,210,306
Interest payables (a)		3,994,534		4,088,513
	$	30,857,308	$	36,420,039

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, 2021, and June 30, 2022.

As of December 31, 2021, and June 30, 2022, the ending balance of the EDB loan post valuation plus accrued interest were $11,335,661 and $11,209,733, respectively.

b. Other long-term borrowings

Loan and Security Agreement with K2 HealthVentures LLC

On July 12, 2021, ASLAN Pharmaceuticals Limited (the “Company”) and ASLAN Pharmaceuticals (USA) Inc. as borrowers entered into a Loan, Guaranty, and Security Agreement (the “K2HV Loan Agreement”) with K2 HealthVentures LLC (“K2HV”) as administrative agent, Ankura Trust Company, LLC as collateral agent. The borrowers’ obligations under the Loan Agreement are guaranteed by ASLAN Pharmaceuticals Pte. Ltd (“ASLAN Singapore”) and any future material subsidiaries and secured by substantially all of borrowers’, ASLAN Singapore’s and any future subsidiary guarantors’ assets, other than intellectual property.

The K2HV Loan Agreement provides for up to $45.0 million of delayed draw term loans, consisting of (i) the first tranche of $20.0 million available at closing, (ii) the second and third tranches in the aggregate amount of $10.0 million subject to the Company’s achievement of certain clinical milestones related to farudodstat (also known as ASLAN003) and eblasakimab (also known as ASLAN004) and (iii) an uncommitted fourth tranche of up to $15.0 million.

The term loans bear interest at a floating rate equal to the greater of (i) the prime rate published by Wall Street Journal plus 5.00% and (ii) 8.25% per annum. The monthly payments are interest-only until August 1, 2023, which may be extended to August 1, 2024, upon the Company’s achievement of certain clinical milestones. Subsequent to the interest-only period, the term loans will be payable in equal monthly installments of principal plus accrued and unpaid interest, through the maturity date which is July 1, 2025. The Company paid the lenders a one-time $255,000 facility fee at closing and will be obligated to pay for an additional facility fee equal to 0.85% of any term loans borrowed under the fourth tranche. In addition, the Company is obligated to pay a final payment fee of 6.25% of the original principal amount of the term loans at the maturity date. The Company may elect to prepay all, but not less than all, of the term loans prior to the term loan maturity date, subject to a prepayment fee of up to 3.0% of the then outstanding principal balance. After repayment, no term loans may be borrowed again.

F-11

On July 12, 2021, the full first tranche of $20.0 million available at closing was drawn down. Due to the K2 Warrant described below, the fair value of the first tranche loan on July 12, 2021, was $19,311,676. Subsequent to the interest-only period from July 1, 2021, to July 31, 2023, the term loans will be payable in equal monthly instalments of principal plus accrued and unpaid interest, through the maturity date which is July 1, 2025. However, the interest-only period can be extended up to 36 months from the loan closing upon announcement of the achievement of positive data for the Company’s Phase 2b clinical study of eblasakimab in atopic dermatitis which is supportive of continued clinical advancement with a commercially viable product profile, as determined by K2HV in its reasonable discretion.

Borrowings under the K2HV Facility are secured with a pledge of the borrowers’ equity interests in subsidiaries and collateral over all of the Company’s cash, goods, and other personal property, with the exception of (i) the Company’s registered intellectual property assets, (ii) personal property to the extent that granting of security over any such personal property would constitute a breach of or result in the termination of, or require any consent not obtained under, any license, agreement, instrument or other document evidencing or giving rise to such property, or is otherwise prohibited by any requirement of law, and (iii) the Company’s equity interests in JAGUAHR. Such pledge and collateral may be enforced only if there has been an event of default as stipulated in the loan agreement. As of June 30, 2022, the Company is in full compliance with the loan agreement and there have been no events of default.

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 term loan advances made to the Company from time to time 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. The total proceeds attributed to the K2 Warrant was approximately $688,324 based on the relative fair value as of the date of the drawdown. As the number of ADS to be issued under the cashless method will continue to vary dependent to the share price of the Company, the K2 Warrants do not meet the equity classification and are classified as liability and fair valued though profit and loss. As of December 31, 2021 and June 30 2022, the fair value of the K2 Warrant was revalued to $223,352 and $119,351 respectively, with the difference of $104,001 being recorded as profit in other gains. See Note 20 for more detail on assumptions used in the valuation of the K2 warrant.

On January 5, 2022, the Company drew down the second tranche $5 million in full of the loan facility provided by K2HV pursuant to the Loan Agreement. The second tranche milestone was completed, and the full funds were received on February 4, 2022. As a result of the drawdown of the second tranche of the loan facility, the number of ordinary shares exercisable under the K2 Warrant increased to 1,402,891 (representing 280,578 ADS), based on the 2.95% coverage of the total drawdown facility $25 million, being the aggregate term loan advances at that date, divided by the warrant price of $0.5257 per ordinary share (equivalent to $2.6285 per ADS). As of June 30, 2022, K2HV did not exercise any warrants.

F-12

13. EQUITY

Ordinary shares

	December 31,		June 30,
	2021		2022
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		348,723,365		348,723,365
Number of equivalent ADS issued and fully paid		69,744,673		69,744,673
Amount of ordinary shares authorized	$	5,000,000	$	5,000,000
Amount of share capital par value issued and fully paid	$	63,019,962	$	63,019,962
Amount of share capital surplus issued and fully paid	$	213,098,729	$	213,098,729

Issuance of new ADS

As of December 31, 2021, the Company had raised total net proceeds $21.5 million by issuing 44,314,860 ordinary shares (representing 8,862,972 ADS) under the ATM Sales Agreement of which 19,720,500 ordinary shares (representing 3,944,100 ADS) were issued from October 9, 2020 through December 31, 2020 for net proceeds of $7.4 million and 24,594,360 ordinary shares (representing 4,918,872 ADS) were issued during the year ended December 31, 2021, for net proceeds of $14.1 million. As of December 31, 2021, the Company had $62.8 million in proceeds available for sale under this ATM Sales Agreement.

During the period ended June 30, 2022, there were no issuance of ordinary shares/ADS.

14. LOSS BEFORE INCOME TAX

a. General and administrative expenses

	June 30,		June 30,
	2021		2022
General and administrative expenses	$	6,893,836	$	4,855,050

General and administrative expenses primarily related to employee expenses of employees other than those involved in research and development and professional fees. There were no changes in the nature of general and administrative expenses.

b. Research and development expenses

	June 30,		June 30,
	2021		2022
Research and development expenses	$	7,795,493	$	19,339,045

Research and development expenses related to preclinical and clinical development work, manufacturing and employee expenses of employees involved in research and development. There were no changes in the nature of research and development expense. The increase was driven by clinical development expenses and manufacturing costs related to eblasakimab and the TREK-AD Phase 2b trial, and higher headcount required in research and development work.

c. Other income

	June 30,		June 30,
	2021		2022
ADS issuance contribution	$	309,527	$	—
Short-term investment valuation gain		—		30,191
Government grants for research and development expenditures		—		104,822
Government subsidies		21,392		21,736
Others		9,157		—
	$	340,076	$	156,749

Other income is the ADS issuance contribution per our depository agreement, certain government grants and from short-term investments. Other income of $0.3 million and $0.1 million were recognized for the six months ended June 30, 2021, and June 30, 2022, respectively, due to the ADS issuance contribution, receivable from J.P. Morgan Chase Bank N.A., the Custodian and the Depositary as part of the conversion of ordinary shares to ADS due to the Taiwan delisting in 2020 and issuance of new ADS, and certain statutory government subsidies and grants.

F-13

d. Finance costs

	For the six months ended June 30
	2021		2022
Interest on government loans	$	223,536	$	218,337
Interest on loans from shareholders and related parties		204,847		—
Interest on K2HV long term borrowing		—		1,732,687
Interest on lease liabilities		13,330		3,741
Other interest expenses		173,189		5,556
	$	614,902	$	1,960,321

e. Depreciation and amortization

	For the six months ended June 30
	2021		2022
Right-of-use assets	$	132,402	$	132,402
Property, plant and equipment		8,919		8,090
Computer software		504		2,060
	$	141,825	$	142,552

All depreciation and amortization expenses are recorded as general and administrative expenses for the six months ended June 30, 2021, and 2022.

f. Employee benefits expense

	For the six months ended June 30
	2021		2022
Short-term benefits	$	3,255,606	$	4,900,660
Post-employment benefits (Note 11)		121,676		200,712
Share-based payments
Equity-settled		1,564,673		1,336,637
Cash-settled (Note 11)		765,201		(380,964	)
Total employee benefits expense	$	5,707,156	$	6,057,045
Employee benefits expense by function
General and administrative expenses	$	4,158,710	$	2,997,087
Research and development expenses		1,548,446		3,059,958
	$	5,707,156	$	6,057,045

F-14

15. INCOME TAXES

Income Tax Recognized in Profit or Loss

	For the six months ended June 30
	2021		2022
Current tax
In respect of the current period	$	—	$	—

The Company has unused tax losses of $233 million for the financial period ended June 30, 2022 (fiscal year 2021: $207 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, 2021 and 2022, 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, 2021, and 2022, 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, 2021, and 2022, 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, 2021, and 2022, and therefore, no provision for income tax is required.

F-15

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, 2021, and therefore, no provision for income tax is required. For the six months ended June 30, 2022, ASLAN Pharmaceuticals (USA) Inc. has taxable income; therefore, total $70,000 tax provision for income tax was prepaid.

16. LOSS PER SHARE

	For the six months ended June 30
	2021			2022
Basic and diluted loss per ordinary share	$	(0.04	)	$	(0.07	)
Basic and diluted loss per equivalent ADS	$	(0.20	)	$	(0.35	)

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
	2021			2022
Loss used in the computation of basic and diluted loss per share	$	(12,149,543	)	$	(25,971,668)
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share		302,985,377			348,723,365
Weighted-average number of ADS in the computation of basic loss per ADS		60,597,075			69,744,673

17. SHARE-BASED PAYMENT ARRANGEMENTS

Employee Share Option Plan

Under the Company’s 2014 employee share option plan (the “2014 Plan”), qualified employees of the Company and its subsidiaries were granted 6,850,356 options (representing 13,700,712 ordinary shares post share split) from July 2010 to July 2016, among which 2,199,500 options (representing 4,399,000 ordinary shares post share split) were expired or exercised as of June 30, 2022. 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.

Under the Company’s 2017 employee share option plan (the “2017 Plan”), qualified employees of the Company and its subsidiaries were granted 825,833 options in September 2017. Each option entitles the holder to subscribe for one ordinary share of the Company. Options granted pursuant to the 2014 Plan and the 2017 Plan are all vested in full or expired as of June 30, 2022.

F-16

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 was originally 20,676,974 ordinary shares (an equivalent of 4,135,395 ADS of the Company, each ADS representing five ordinary shares). On December 15, 2020, and during the year ended December 31, 2021, 3,824,062 and 282,000 options were granted under the Company’s 2020 EIP, respectively. Each option entitles the holder to subscribe for one ADS of the Company. The options granted are valid for 10 years. No performance conditions were attached to the plan. No more than 62,030,922 ordinary shares (an equivalent of 12,406,184 ADS) may be issued under the 2020 EIP upon the exercise of incentive stock options. In addition, the number of ordinary shares reserved for issuance under the 2020 EIP will automatically increase on January 1 of each year, commencing on January 1, 2022, and ending on (and including) January 1, 2030, in an amount equal to 4% of the total number of ordinary shares outstanding on December 31 of the preceding calendar year. The Board may act prior to January 1 of a given year to provide that there will be no increase for such year or that the increase for such year will be a lesser number of ordinary shares.

In connection with the approval of the 2020 EIP, the Board determined that there would be no increase for January 1, 2021, but there would be an increase of 13,948,935 ordinary shares (an equivalent of 2,789,787 ADS) representing 4% of the total outstanding ordinary shares as of December 31, 2021. 8,875,745 ordinary shares (an equivalent of 1,775,149 ADS) were granted on January 1, 2022. If an award under the 2020 EIP expires, lapses or is terminated, exchanged for cash, surrendered, repurchased, cancelled without having been fully exercised, forfeited or is withheld to satisfy a tax withholding obligation in connection with an award or to satisfy a purchase or exercise price of an award, any unused shares subject to the award will, as applicable, become or again be available for new grants under the 2020 EIP. Awards granted under the 2020 EIP in substitution for any options or other equity or equity-based awards granted by an entity before the entity’s merger or consolidation with the Company or the Company’s acquisition of the entity’s property or stock will not reduce the number of ordinary shares available for grant under the 2020 EIP but will count against the maximum number of ordinary shares that may be issued upon the exercise of incentive stock options.

Information on employee share options granted under the 2014 Plan is as follows. Each option entitles the holder to subscribe for two ordinary shares of the Company due to the 2016 share split (1 ADS represents 5 ordinary shares). Total options exercisable as of June 30, 2022, under the 2014 Plan are approximately 1,857,843 ADS (representing 9,289,212 ordinary shares post share split). Movements for the six months ended June 30, 2021, and June 30, 2022, respectively, as follows:

	For the six months ended June 30
	2021					2022
	Number of Options			Weighted- average Exercise Price		Number of Options			Weighted- average Exercise Price
Balance on January 1		6,670,356		$	1.43		6,097,856		$	1.43
Options expired		—			—		(1,453,250	)		0.67
Options exercised		(114,500	)		1.87		—			—
Balance on June 30		6,555,856			1.43		4,644,606			1.76
Options exercisable, end of period		6,555,856			1.43		4,644,606			1.76
Options in equivalent of ADS exercisable, end of period		2,622,342		$	3.58		1,857,843		$	4.40

F-17

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). Total options exercisable as of June 30, 2022, under the 2017 Plan are approximately 100,234 ADS (representing 501,167 ordinary shares). Movements for the six months ended June 30, 2021, and June 30, 2022, as follows:

	For the six months ended June 30
	2021				2022
	Number of Options		Weighted- average Exercise Price		Number of Options		Weighted- average Exercise Price
Balance on January 1		501,167	$	1.28		501,167	$	1.28
Options exercised		—		—		—		—
Balance on June 30		501,167		1.28		501,167		1.28
Options exercisable, end of period		501,167		1.28		501,167		1.28
Options in equivalent of ADS exercisable, end of period		100,234	$	6.40		100,234	$	6.40

Information on employee share options granted under the 2020 EIP is as follows. Each option entitles the holder to subscribe for one ADS of the Company:

	For the six months ended June 30 2022
	Number of Options			Weighted- average Exercise Price Per Option
Balance on January 1, 2022		4,021,562		$	2.06
Options granted		1,775,149			1.12
Options forfeited		(744,372	)		2.06
Balance on June 30, 2022		5,052,339			1.77
Options exercisable, end of period		1,206,022			1.77
Weighted-average fair value of options granted				$	1.30

Options granted under the 2014 Plan, 2017 Plan and 2020 EIP were valued using the binomial option pricing model. The inputs to the model and the information on outstanding options as of June 30, 2022, are as follows:

Grant Date	Grant-date share price*		Range of Exercise Price*		Contractual Life (Years)		Weighted- average Remaining Contractual Life (Years)		Expected volatility			Expected dividend yield		Risk-free interest rate
July 2013	$	0.80 -$1.36	$	0.80 -$1.36		10		1.0		50.58	%		—		2.50	%
July 2014	$	1.36	$	1.36		10		2.0		50.86	%		—		2.58	%
July 2015	$	1.88	$	1.36 -$1.88		10		3.0		36.37	%		—		2.43	%
July 2016	$	2.26	$	2.26		10		4.0		39.34	%		—		1.46	%
July 2017	$	1.28	$	1.28		10		5.2		38.33	%		—		1.10	%
December 2020	$	2.06	$	2.06		10		8.5		66.25	%		—		0.92	%
January-July 2021	$	2.35 -$4.12	$	2.35 -$4.12		10		8.7		59.99% -64.92	%		—		1.07%-1.69	%
January 2022	$	1.12	$	1.12		10		9.5		122.1	%		—		1.27%-1.43	%

* In equivalent of ADS price

F-18

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, 2021, and June 30, 2022, were $1,564,673 and $1,336,637, 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 $3.30 and $0.50 as of June 30, 2021, and June 30, 2022, respectively.

The Company’s 2017 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		215,133			201,266
Awards exercised		(13,867	)		—
Awards forfeited		—			—
Balance at June 30		201,266			201,266
Balance exercisable, end of period		201,266			201,266

The Company’s 2018 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		142,445			132,517
Awards exercised		(9,928	)		—
Awards forfeited		—			—
Balance at June 30		132,517			132,517
Balance exercisable, end of period		89,309			132,517

F-19

The Company’s 2019 LTIP is described as follows:

	For the six months Ended June 30
	2021		2022
Balance at January 1		386,950		386,950
Awards forfeited		—		—
Balance at June 30		386,950		386,950
Balance exercisable, end of period		128,983		257,967

Each bonus entitlement unit grants the holders of the LTIPs a conditional right to receive an amount of cash equal to the per-unit fair market value of the Company’s ordinary shares and ADS, respectively, on the settlement date. The LTIPs qualify as cash-settled share-based payment transactions. The Company recognizes the liabilities in respect of its obligations under the LTIPs, which are measured based on the Company’s quoted market price of its ADS at the reporting date and takes into account the extent to which the services have been rendered to date.

The Company recognized total expenses of $765,201 and total income $380,964 in respect of the LTIPs for the six months ended June 30, 2021, and 2022, respectively. As of December 31, 2021, and June 30, 2022, the Company recognized compensation liabilities of $701,582 and $320,618 as current (classified as other payables), respectively.

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. 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, 2022, 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 12 under K2HV Loan Agreement.

F-20

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 changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Company’s consolidated statements of cash flows as cash flows from financing activities.

									Non-cash changes
	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 12)	$	15,183,421		—			—			—			(192,177	)		223,536	$	15,214,780
Current borrowings	$	2,900,971		(355,744	)		(2,700,000	)		—			—			154,773	$	—
Current borrowings from related parties	$	617,912		(117,986	)		(550,000	)		—			—			50,074	$	—
Interest payables (Note 11)	$	735,510		(736,469	)		—			—			—			172,222	$	171,263

									Non-cash changes
	January 1, 2022		Interest paid			Net proceeds/ (repayment)			Additions/ (Transfers)			Others*			Interest expense		June 30, 2022
Lease Liabilities – current	$	199,124		(3,741	)		(149,007	)		—			—			3,741	$	50,117
Long-term borrowings (Note 12)	$	30,857,308		—			5,000,000			(1,044,027	)		(344,266	)		1,951,024	$	36,420,039
Interest payables (Note 11)	$	142,083		(996,355	)		—			1,044,027			—			5,556	$	195,313

* Others comprise mainly foreign currency translation differences.

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, 2021

	Level 1		Level 2		Level 3		Total
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	223,352	$	223,352

June 30, 2022

	Level 1		Level 2		Level 3		Total
Financial assets at FVTPL
Short-term investments:
U.S. Government treasuries	$	5,009,974	$	—	$	—	$	5,009,974
Commercial paper		—		11,034,759		—		11,034,759
Corporate Bonds		—		498,619		—		498,619
	$	5,009,974	$	11,533,378	$	—	$	16,543,352
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	119,351	$	119,351

F-21

The following three levels of inputs are used to measure the fair value presented above:

Level 1 — Quoted prices in active markets for identical assets and liabilities.

Level 2 — Significant other observable inputs.

Level 3 — Significant unobservable inputs.

There was no transfer between Levels 1 and 2 financial instruments in the current and prior periods.

Valuation techniques and assumptions used in Level 2 fair value measurement

The fair values of corporate fixed income, and commercial paper are determined by quoted market prices provided by third party pricing services.

2) Valuation techniques and inputs applied for Level 3 fair value measurement

As of December 31, 2021, and June 30, 2022, fair value of the Level 3 instrument was the derivative financial liabilities – K2HV warrants. 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. The historical volatility used for valuation was 160.3% and 154.0% as of December 31, 2021, and June 30, 2022, respectively.

c. Categories of financial instruments

	December 31, 2021		June 30, 2022
Financial assets
Financial assets at FVTPL
Short term investment
U.S. government treasuries	$	—	$	5,009,974
Commercial papers		—		11,034,759
Corporate fixed income		—		498,619
Total	$	—	$	16,543,352
Financial assets at amortized cost (1)	$	91,047,060		61,660,693
Financial liabilities
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	223,352		119,351
Financial liabilities at amortized cost (2)	$	36,090,421		47,455,346

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 amortised cost, which comprise of trade payables, partial other payables, other current liabilities and long-term borrowings.

F-22

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. 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, 2021
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	837,336		0.7411	$	620,563
Financial liabilities
Monetary items
SGD	S$	15,649,526		0.7411	$	11,598,118

	June 30, 2022
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	1,954,107		0.7189	$	1,404,751
Financial liabilities
Monetary items
SGD	S$	15,858,480		0.7189	$	11,400,203

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 loss where the U.S. dollar strengthens 5% against the relevant currency. For a 5% weakening of the U.S. dollar against the relevant currency, there would be an equal and opposite impact on pre-tax loss, and the balances below would be negative.

F-23

	For the six months ended June 30
	2021			2022
Profit or loss*
SGD	$	(487,150	)	$	(499,773	)

* 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 baseline interest plus floating 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 point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

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, 2021, and 2022 would have decreased/increased by $153,860 and $364,200, respectively.

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 ADS. The Company may also use other means of financing such as out licensing to generate revenue and cash. Management believes that it currently has plans and opportunities in place which will allow to fund and meet its operating expenses and capital expenditure requirements and meet its obligations for at least the next twelve months from June 30, 2022.

F-24

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. Further, the Company has an ATM Sales Agreement with Jefferies LLC, pursuant to which it raised net proceeds of $14.1 million during the year ended December 31, 2021. As of December 31, 2021, the Company had $62.8 million in proceeds available for sale under this ATM Sales Agreement. 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 12 for details.

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

Interest expense

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Related party in substance / JANK Howden Pty Ltd	$	45,522	$	—
Key Management Personnel / Others		4,552		—
	$	50,074	$	—

The loans from the related parties were repaid on March 22, 2021.

b. Compensation of Key Management Personnel

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Short-term employee benefits	$	1,073,166	$	1,102,592
Post-employment benefits		58,300		242,554
Share-based payments recognized		765,201		602,988
	$	1,896,667	$	1,948,134

The remuneration of directors and key executives was determined by the Remuneration Committee based on the performance of individuals and market trends.

F-25

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 for the six months ended June 30, 2021, and June 30, 2022.

The Company’s operations are not affected by any significant seasonality fluctuations.

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 farudodstat, for rheumatoid arthritis (excluding any topical formulation), without upfront payments. Under the license agreement, the Company agreed to fund and develop farudodstat to the end of Phase 2 through a development program.

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 farudodstat products for all human 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, 2022, 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 receptor monoclonal antibody, CSL334 (which the Company refers to as eblasakimab) and antigen binding fragments thereof, for the treatment, diagnosis or prevention of diseases or conditions in humans, without upfront payments. This license agreement was amended in May 31, 2019, pursuant to which the Company obtained an exclusive, worldwide license to certain intellectual property owned or licensed by CSL, including patents and know-how, to develop, manufacture for clinical trials and commercialise eblasakimab for the treatment, diagnosis or prevention of diseases or conditions in humans. The Company’s development under such agreement is currently focused on the treatment of respiratory and inflammatory conditions, and in particular, atopic dermatitis.

Under the amended agreement, the Company is generally obligated to use diligent efforts to develop eblasakimab products in accordance with the development plan, to obtain marketing approvals for eblasakimab products worldwide and to commercialise eblasakimab 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 eblasakimab. The Company will also be required to pay up to an aggregate of $95 million to CSL if certain regulatory milestones are achieved, up to an aggregate of $655 million if certain sales milestones are achieved and tiered royalties on net sales of eblasakimab products ranging between a mid-single digit percentage and 10%. The Company is also responsible for all payments to third-party licensors to CSL, to the extent such obligations relate to the exploitation of the rights licensed under CSL’s agreement with those parties and sublicensed to the Company under the amended agreement. As of June 30, 2022, the Phase 2b clinical trial investigating eblasakimab as a therapeutic antibody for moderate-to-severe atopic dermatitis is still ongoing and the aforementioned milestones have not been met. The Company did not make any other payments related to the in-license agreements for the six months ended June 30, 2021, and 2022.

F-26

24. OTHER ITEMS/ SUBSEQUENT EVENTS

On July 7, 2022, the Board resolved to reduce the exercise price of options granted under the Company’s 2020 Equity Incentive Plan. In order to retain and motivate key individuals, the repricing date was effective July 7, 2022, with a modified exercise price of $0.52 per ADS for 5,055,839 options granted under the 2020 EIP. The Company is measuring the financial impact due to this change and will include the incremental fair value costs in the FY 2022 financial statements in accordance with IFRS 2 “Share-based payment”. The Company estimates that these costs will not be material.

F-27

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Cover Page	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	ASLAN PHARMACEUTICALS LIMITED
Entity Central Index Key	0001722926
Current Fiscal Year End Date	--12-31

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Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents (Note 6)	$ 61,576,463	$ 90,167,967
Short-term investments (Notes 7 and 12)	16,543,352	0
Total cash, cash equivalents, and short-term investments	78,119,815	90,167,967
Other assets (Note 8)	2,244,246	3,612,846
Total current assets	80,364,061	93,780,813
NON-CURRENT ASSETS
Investment in associate company (Notes 9 and 10)	132,247	494,728
Property, plant and equipment, net	44,596	34,979
Right-of-use assets	65,344	197,746
Intangible assets	7,896	9,956
Total non-current assets	250,083	737,409
TOTAL ASSETS	80,614,144	94,518,222
CURRENT LIABILITIES
Trade payables	9,442,905	3,116,786
Other payables (Note 11)	1,913,020	2,817,909
Lease Liabilities – current	50,117	199,124
Financial liabilities at fair value through profit or loss (Note 20)	119,351	223,352
Total current liabilities	11,525,393	6,357,171
NON-CURRENT LIABILITIES
Long-term borrowings (Note 12)	36,420,039	30,857,308
Total non-current liabilities	36,420,039	30,857,308
TOTAL LIABILITIES	47,945,432	37,214,479
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY
Ordinary shares (Note 13)	63,019,962	63,019,962
Capital, share options and other reserves	222,803,698	221,467,061
Accumulated deficits	(252,976,000)	(227,004,332)
Other reserves	(178,948)	(178,948)
Total equity attributable to stockholders of the Company	32,668,712	57,303,743
Total equity	32,668,712	57,303,743
TOTAL LIABILITIES AND EQUITY	$ 80,614,144	$ 94,518,222

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Condensed Consolidated Statements of Comprehensive Loss - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement Of Comprehensive Income [Abstract]
NET REVENUE	$ 0	$ 0
COST OF REVENUE
GROSS PROFIT
OPERATING EXPENSES (Notes 14 and 17)
General and administrative expenses	(4,855,050)	(6,893,836)
Research and development expenses	(19,339,045)	(7,795,493)
Total operating expenses	(24,194,095)	(14,689,329)
LOSS FROM OPERATIONS	(24,194,095)	(14,689,329)
NON-OPERATING INCOME AND EXPENSES
Other income (Note 14)	156,749	340,076
Interest income	43,797	157
Gain on dilution of subsidiary and recognition of associate (Note 10)	0	2,307,735
Impairment loss of associate accounted for using equity method	(50,109)	0
Other gains	344,683	319,636
Finance costs (Note 14)	(1,960,321)	(614,902)
Total non-operating income and expenses	(1,465,201)	2,352,702
Share in losses of associated company, accounted for using equity method	(312,372)	(81,880)
LOSS BEFORE INCOME TAX	(25,971,668)	(12,418,507)
INCOME TAX EXPENSE (Note 15)	0	0
NET LOSS FOR THE PERIOD	(25,971,668)	(12,418,507)
Total comprehensive loss for the period	(25,971,668)	(12,418,507)
NET LOSS ATTRIBUTABLE TO
Stockholders of the Company	(25,971,668)	(12,149,543)
Non-controlling interests	0	(268,964)
NET LOSS FOR THE PERIOD	(25,971,668)	(12,418,507)
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO
Stockholders of the Company	(25,971,668)	(12,149,543)
Non-controlling interests	0	(268,964)
Total comprehensive loss for the period	$ (25,971,668)	$ (12,418,507)
LOSS PER ORDINARY SHARE / EQUIVALENT ADS
Basic	$ (0.07)	$ (0.04)
Diluted	(0.07)	(0.04)
American Depositary Share [Member]
LOSS PER ORDINARY SHARE / EQUIVALENT ADS
Basic	(0.35)	(0.2)
Diluted	$ (0.35)	$ (0.2)

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Condensed Consolidated Statements of Changes in Equity - USD ($)	Total	Ordinary Shares	Ordinary Shares	Capital Surplus, share options and other reserves	Capital Surplus, share options and other reserves Ordinary Shares	Capital Surplus, share options and other reserves Share Options Reserve	Capital Surplus, share options and other reserves Other	Accumulated Deficits	Unrealized Valuation Loss on Financial Assets at Fair Value Through Other Comprehensive Income	Non-controlling Interests
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
Recognition of employee share options by the company (Note 13)	1,564,673			1,564,673		1,564,673
Warrants exercised	575,399		$ 14,256	561,143	561,143
Warrants exercised ,shares			1,425,550
Non-controlling interests derecognized due to dilution of subsidiary (Note 10)	(31,717)									(31,717)
Other comprehensive income due to dilution of subsidiary (Note 10)	(1,376,349)			(1,376,349)			(1,376,349)
Net loss	(12,418,507)							(12,149,543)		(268,964)
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
Beginning balance at Dec. 31, 2021	57,303,743		$ 63,019,962	221,467,061	213,098,729	8,323,753	44,579	(227,004,332)	(178,948)	0
Beginning balance, Number of ordinary shares at Dec. 31, 2021			348,723,365
Recognition of employee share options by the company (Note 13)	1,336,637			1,336,637		1,336,637
Net loss	(25,971,668)							(25,971,668)
Total comprehensive loss for the period	(25,971,668)							(25,971,668)
Ending balance at Jun. 30, 2022	$ 32,668,712		$ 63,019,962	$ 222,803,698	$ 213,098,729	$ 9,660,390	$ 44,579	$ (252,976,000)	$ (178,948)	$ 0
Ending balance, Number of ordinary shares at Jun. 30, 2022		0	348,723,365

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Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before income tax	$ (25,971,668)	$ (12,418,507)
Adjustments for:
Depreciation expenses	140,492	141,321
Amortization expenses	2,060	504
Net gain on fair value changes of financial assets measured at fair value through profit or loss	(104,001)	(129,075)
Finance costs	1,960,321	614,902
Interest income	(43,797)	(157)
Compensation costs recognized of share-based payment transactions	955,673	2,329,874
Gain on dilution of subsidiary and recognition of associate	0	(2,307,735)
Share of results of associate accounted for using equity method	312,372	81,880
Impairment loss of associate accounted for using equity method	50,109
Net gain on fair value changes of short-term investments measured at fair value through profit or loss	(30,846)
Unrealized gain on foreign exchange, net	(344,266)	(192,176)
Changes in operating assets and liabilities
Decrease in other assets	1,368,600	424,837
(Decrease) Increase in trade payables	6,326,120	(272,771)
Decrease in other payables	(577,153)	(1,531,218)
Cash used in operations	(15,955,984)	(13,258,321)
Interest received	43,797	157
Interest paid	(1,000,096)	(1,223,529)
Income tax paid	0	0
Net cash used in operating activities	(16,912,283)	(14,481,693)
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for property, plant and equipment	(17,707)	(4,211)
Acquisition of intangible assets	0	(12,360)
Purchase of short-term investments	(16,537,462)
Proceeds from disposal or redemption of short-term investments	24,955
Increase in refundable deposits		(16,743)
Net cash used in investing activities	(16,530,214)	(33,314)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long term borrowings	5,000,000	0
Repayment on long term borrowings	0	(3,250,000)
Repayment of the principal portion of lease liabilities	(149,007)	(208,142)
Proceeds with new share capital	0	101,555,708
Proceeds from exercise of loan warrants	0	575,399
Proceeds from exercise of share options	0	214,500
Payments for transaction costs attributable to the issuance of ordinary shares	0	(4,576,671)
Net cash generated from financing activities	4,850,993	94,310,794
NET INCREASE. (DECREASE) IN CASH AND CASH EQUIVALENTS	(28,591,504)	79,795,787
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	90,167,967	14,324,371
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	$ 61,576,463	$ 94,120,158

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General Information

6 Months Ended

Jun. 30, 2022

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 (“ADS”) 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 eblasakimab (also known as ASLAN004), a potential first-in-class human monoclonal antibody that binds to the IL-13 receptor, blocking signaling of two pro-inflammatory cytokines, IL-4 and IL-13 which are central to triggering symptoms of atopic dermatitis, such as redness and itching of the skin.

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 ADS 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.

Both the reporting and functional currency of the Company is the U.S. dollar.

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Approval of Financial Statements

6 Months Ended

Jun. 30, 2022

Disclosure Of Authorization To Issue Financial Statements [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 12, 2022.

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Application of New Amended and Revised Standards and Interpretations

6 Months Ended

Jun. 30, 2022

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 reporting period.

The Company has applied the amendments to IFRSs including Amendments to IFRS 3 “Reference to the Conceptual Framework”, Annual Improvements to IFRS Standards 2018 – 2020 including IFRS 9 “Fees in ‘10 Percent Test’”, IFRS 16 “Lease Incentives”, and IAS 41 “Taxation in fair value measurement” which were issued by the IASB on or before April 30, 2022 effective for annual periods that began on or after January 1, 2022. The application of these amendments has had no significant 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)
Amendments to IAS 1 “Classification of Liabilities as Current or Non-current”	January 1, 2023 (Note 2)
IFRS 17 “Insurance Contracts”	January 1, 2023
Amendments to IFRS 17	January 1, 2023
Amendments to IAS 1 and IFRS Practice Statement 2 “Disclosure of Accounting Policies”	To be determined by IASB
Amendments to IAS 8 “Definition of Accounting Estimates”	January 1, 2023
Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”	January 1, 2023

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 effective date of Amendments to IAS 1 was deferred to January 1, 2023 from originally January 1, 2022. In November 2021, the IASB published the Exposure Draft: Non-current liabilities with Covenants (Proposed amendments to IAS 1) to propose further changes to requirements for classifying as current or non-current and to defer the effective date to no earlier than January 1, 2024.
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.

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

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

The accounting policies applied in these condensed consolidated financial statements are the same as those applied in the Company’s consolidated financial statements as of and for the year ended December 31, 2021.

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Critical Accounting Judgments and Key Sources of Estimation Uncertainty

6 Months Ended

Jun. 30, 2022

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, 2021.

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Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2022

Cash and cash equivalents [Abstract]

Cash and Cash Equivalents

6. CASH AND CASH EQUIVALENTS

	December 31, 2021		June 30, 2022
Cash in bank	$	90,167,967	$	48,056,304
Money market fund		—		10,120,088
Commercial paper		—		2,795,199
Corporate fixed income		—		604,872
	$	90,167,967	$	61,576,463

As disclosed in Note 13, the Company has raised $97.0 million (net proceeds) from the issuance of ADS in the 6 months period ended June 30, 2021.

In February 2022, the Company engaged an asset management bank to obtain better returns on the Company’s cash with an initial portfolio size of $30.0 million pursuant to Company’s Investment Policy. The Company classifies all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents as they were subject to an insignificant risk of changes in value. The average coupon rate for the cash equivalents products ranged from 1.28% to 2.15% as of June 30, 2022.

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Short-Term Investments

6 Months Ended

Jun. 30, 2022

Text Block [Abstract]

Short-Term Investments

7. SHORT-TERM INVESTMENTS

	December 31,		June 30,
	2021		2022
Short-term investments	$	—	$	16,543,352

Following the asset management portfolio described in Note 6, the Company also purchased short-term investments pursuant to the Company’s Investment Policy during the six-months ended June 30, 2022. The short-term investments of the Company are primarily intended to facilitate liquidity and capital preservation. They consist predominantly of highly liquid investment-grade fixed-income securities with credit rating A- or higher, US Government securities, and financial money market fund, with maturities of less than six months. Thus, these short-term investments have been classified as financial assets at Fair Value Through Profit or Loss (“FVTPL”). The average coupon rate for the short-term investment products ranged from 0.35% to 2% as of June 30, 2022.

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Other Assets

6 Months Ended

Jun. 30, 2022

Other Assets Current And Non Current [Abstract]

Other Assets

8. OTHER ASSETS

	December 31,		June 30,
	2021		2022
Current
Prepayments	$	2,733,753	$	2,160,016
Refundable deposits		879,093		84,230
	$	3,612,846	$	2,244,246

The prepayments are the advanced funds paid to the Company’s contract research organizations (“CROs”) for commencement of the Company’s clinical trials and related preparation work.

The refundable deposits are the receivables due from the Company’s CRO after the final reconciliation upon the project completion and office deposits refundable in normal business course. All refundable deposits are current as of December 31, 2021, and June 30, 2022.

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Details of Subsidiaries that have Material Non-Controlling Interests

6 Months Ended

Jun. 30, 2022

Disclosure Of Significant Investments In Subsidiaries [Abstract]

Details of Subsidiaries that have Material Non-Controlling Interests

9. DETAILS OF SUBSIDIARIES THAT HAVE MATERIAL NON-CONTROLLING INTERESTS

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.

On April 28, 2021, the Company’s shareholding was diluted from 55% to 35% resulting in a loss of control. The Company did not consolidate Jaguahr Therapeutics Pte. Ltd. as a subsidiary post dilution. For the six months ended June 30, 2021, the Company recognized a loss of $268,964 from Jaguahr Therapeutics Pte. Ltd. representing the amount allocated to non-controlling interests prior to the dilution. For the six months ended June 30, 2021, the company recognized a share of losses of $81,880 from Jaguahr Therapeutics Pte. Ltd. after the dilution. Please refer to Note 10 for details.

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Investment in Associate Company

6 Months Ended

Jun. 30, 2022

Disclosure of associates [abstract]

Investment in Associate Company

10. INVESTMENT IN ASSOCIATE COMPANY

Details of the material associate:

			Proportion of Ownership and Voting Rights Held by the Company
Name	Principal Activity	Principal Place of Business	December 31, 2021	June 30, 2022
Jaguahr Therapeutics Pte. Ltd.	New drug research and development	Singapore	35%	35%

* On April 28, 2021, the Company’s shareholding was diluted from 55% to 35% resulting in a loss of control as further detailed above. A gain on dilution of subsidiary of $2,307,735 represents 1) the classification of the capital reserve of $1,376,349, 2) non-controlling interest derecognised of $31,717 at the date of dilution and 3) 35% of the fair value of net identifiable assets of Jaguahr Therapeutics Pte. Ltd. at the date of the dilution being recognised for the year ended December 31, 2021. 

Summarized financial information of Jaguahr Therapeutics Pte. Ltd. is set out below. The summarized financial information below represents amounts in associate company financial statements prepared in accordance with IFRS.

	December 31,			June 30,
	2021			2022
Current assets	$	1,384,013		$	720,107
Current liabilities		(113,674	)		(342,258	)
Equity	$	1,270,339		$	377,849

	For the Period Ended June 30
	2021			2022
Revenue	$	—		$	—
Loss for the period, representing total comprehensive loss for the period	$	(1,897,844	)	$	(892,490	)
Attributable to:
Stockholders of the Company	$	(1,628,880	)	$	(580,118	)
Non-controlling interests		(268,964	)		(312,372	)
	$	(1,897,844	)	$	(892,490	)

Movements in investment in associate company are as follows:

	December 31,		June 30,
	2021		2022
Net assets of associate	$	1,270,339	$	377,849
Beginning balance	$	—	$	494,728
Share of results of associate accounted for using equity method		444,619		(312,372	)
Loss of interest at the date of dilution of shares in the associate		50,109		—
Impairment loss of associate accounted for using equity method		—		(50,109	)
Ending balance	$	494,728	$	132,247

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Other Payables

6 Months Ended

Jun. 30, 2022

Trade And Other Payables [Abstract]

Other Payables

11. OTHER PAYABLES

	December 31,		June 30,
	2021		2022
Payables for cash-settled share-based payment transactions (Note 17)	$	701,582	$	320,618
Payables for salaries and bonuses		1,387,416		818,090
Interest payables		142,083		195,313
Payables for professional fees		507,340		470,570
Others		79,488		108,429
	$	2,817,909	$	1,913,020

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Borrowings

6 Months Ended

Jun. 30, 2022

Borrowings [abstract]

Borrowings

12. BORROWINGS

	December 31,		June 30,
	2021		2022
Long-term borrowings – Unsecured
Loans from government (a)	$	7,341,127	$	7,121,220
Other long-term borrowings (b)		19,521,647		25,210,306
Interest payables (a)		3,994,534		4,088,513
	$	30,857,308	$	36,420,039

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, 2021, and June 30, 2022.

As of December 31, 2021, and June 30, 2022, the ending balance of the EDB loan post valuation plus accrued interest were $11,335,661 and $11,209,733, respectively.

b. Other long-term borrowings

Loan and Security Agreement with K2 HealthVentures LLC

On July 12, 2021, ASLAN Pharmaceuticals Limited (the “Company”) and ASLAN Pharmaceuticals (USA) Inc. as borrowers entered into a Loan, Guaranty, and Security Agreement (the “K2HV Loan Agreement”) with K2 HealthVentures LLC (“K2HV”) as administrative agent, Ankura Trust Company, LLC as collateral agent. The borrowers’ obligations under the Loan Agreement are guaranteed by ASLAN Pharmaceuticals Pte. Ltd (“ASLAN Singapore”) and any future material subsidiaries and secured by substantially all of borrowers’, ASLAN Singapore’s and any future subsidiary guarantors’ assets, other than intellectual property.

The K2HV Loan Agreement provides for up to $45.0 million of delayed draw term loans, consisting of (i) the first tranche of $20.0 million available at closing, (ii) the second and third tranches in the aggregate amount of $10.0 million subject to the Company’s achievement of certain clinical milestones related to farudodstat (also known as ASLAN003) and eblasakimab (also known as ASLAN004) and (iii) an uncommitted fourth tranche of up to $15.0 million.

The term loans bear interest at a floating rate equal to the greater of (i) the prime rate published by Wall Street Journal plus 5.00% and (ii) 8.25% per annum. The monthly payments are interest-only until August 1, 2023, which may be extended to August 1, 2024, upon the Company’s achievement of certain clinical milestones. Subsequent to the interest-only period, the term loans will be payable in equal monthly installments of principal plus accrued and unpaid interest, through the maturity date which is July 1, 2025. The Company paid the lenders a one-time $255,000 facility fee at closing and will be obligated to pay for an additional facility fee equal to 0.85% of any term loans borrowed under the fourth tranche. In addition, the Company is obligated to pay a final payment fee of 6.25% of the original principal amount of the term loans at the maturity date. The Company may elect to prepay all, but not less than all, of the term loans prior to the term loan maturity date, subject to a prepayment fee of up to 3.0% of the then outstanding principal balance. After repayment, no term loans may be borrowed again.

On July 12, 2021, the full first tranche of $20.0 million available at closing was drawn down. Due to the K2 Warrant described below, the fair value of the first tranche loan on July 12, 2021, was $19,311,676. Subsequent to the interest-only period from July 1, 2021, to July 31, 2023, the term loans will be payable in equal monthly instalments of principal plus accrued and unpaid interest, through the maturity date which is July 1, 2025. However, the interest-only period can be extended up to 36 months from the loan closing upon announcement of the achievement of positive data for the Company’s Phase 2b clinical study of eblasakimab in atopic dermatitis which is supportive of continued clinical advancement with a commercially viable product profile, as determined by K2HV in its reasonable discretion.

Borrowings under the K2HV Facility are secured with a pledge of the borrowers’ equity interests in subsidiaries and collateral over all of the Company’s cash, goods, and other personal property, with the exception of (i) the Company’s registered intellectual property assets, (ii) personal property to the extent that granting of security over any such personal property would constitute a breach of or result in the termination of, or require any consent not obtained under, any license, agreement, instrument or other document evidencing or giving rise to such property, or is otherwise prohibited by any requirement of law, and (iii) the Company’s equity interests in JAGUAHR. Such pledge and collateral may be enforced only if there has been an event of default as stipulated in the loan agreement. As of June 30, 2022, the Company is in full compliance with the loan agreement and there have been no events of default.

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 term loan advances made to the Company from time to time 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. The total proceeds attributed to the K2 Warrant was approximately $688,324 based on the relative fair value as of the date of the drawdown. As the number of ADS to be issued under the cashless method will continue to vary dependent to the share price of the Company, the K2 Warrants do not meet the equity classification and are classified as liability and fair valued though profit and loss. As of December 31, 2021 and June 30 2022, the fair value of the K2 Warrant was revalued to $223,352 and $119,351 respectively, with the difference of $104,001 being recorded as profit in other gains. See Note 20 for more detail on assumptions used in the valuation of the K2 warrant.

On January 5, 2022, the Company drew down the second tranche $5 million in full of the loan facility provided by K2HV pursuant to the Loan Agreement. The second tranche milestone was completed, and the full funds were received on February 4, 2022. As a result of the drawdown of the second tranche of the loan facility, the number of ordinary shares exercisable under the K2 Warrant increased to 1,402,891 (representing 280,578 ADS), based on the 2.95% coverage of the total drawdown facility $25 million, being the aggregate term loan advances at that date, divided by the warrant price of $0.5257 per ordinary share (equivalent to $2.6285 per ADS). As of June 30, 2022, K2HV did not exercise any warrants.

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Equity

6 Months Ended

Jun. 30, 2022

Equity [abstract]

Equity

13. EQUITY

Ordinary shares

	December 31,		June 30,
	2021		2022
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		348,723,365		348,723,365
Number of equivalent ADS issued and fully paid		69,744,673		69,744,673
Amount of ordinary shares authorized	$	5,000,000	$	5,000,000
Amount of share capital par value issued and fully paid	$	63,019,962	$	63,019,962
Amount of share capital surplus issued and fully paid	$	213,098,729	$	213,098,729

Issuance of new ADS

As of December 31, 2021, the Company had raised total net proceeds $21.5 million by issuing 44,314,860 ordinary shares (representing 8,862,972 ADS) under the ATM Sales Agreement of which 19,720,500 ordinary shares (representing 3,944,100 ADS) were issued from October 9, 2020 through December 31, 2020 for net proceeds of $7.4 million and 24,594,360 ordinary shares (representing 4,918,872 ADS) were issued during the year ended December 31, 2021, for net proceeds of $14.1 million. As of December 31, 2021, the Company had $62.8 million in proceeds available for sale under this ATM Sales Agreement.

During the period ended June 30, 2022, there were no issuance of ordinary shares/ADS.

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Loss Before Income Tax

6 Months Ended

Jun. 30, 2022

Profit (loss) [Abstract]

Loss Before Income Tax

14. LOSS BEFORE INCOME TAX

a. General and administrative expenses

	June 30,		June 30,
	2021		2022
General and administrative expenses	$	6,893,836	$	4,855,050

General and administrative expenses primarily related to employee expenses of employees other than those involved in research and development and professional fees. There were no changes in the nature of general and administrative expenses.

b. Research and development expenses

	June 30,		June 30,
	2021		2022
Research and development expenses	$	7,795,493	$	19,339,045

Research and development expenses related to preclinical and clinical development work, manufacturing and employee expenses of employees involved in research and development. There were no changes in the nature of research and development expense. The increase was driven by clinical development expenses and manufacturing costs related to eblasakimab and the TREK-AD Phase 2b trial, and higher headcount required in research and development work.

c. Other income

	June 30,		June 30,
	2021		2022
ADS issuance contribution	$	309,527	$	—
Short-term investment valuation gain		—		30,191
Government grants for research and development expenditures		—		104,822
Government subsidies		21,392		21,736
Others		9,157		—
	$	340,076	$	156,749

Other income is the ADS issuance contribution per our depository agreement, certain government grants and from short-term investments. Other income of $0.3 million and $0.1 million were recognized for the six months ended June 30, 2021, and June 30, 2022, respectively, due to the ADS issuance contribution, receivable from J.P. Morgan Chase Bank N.A., the Custodian and the Depositary as part of the conversion of ordinary shares to ADS due to the Taiwan delisting in 2020 and issuance of new ADS, and certain statutory government subsidies and grants.

d. Finance costs

	For the six months ended June 30
	2021		2022
Interest on government loans	$	223,536	$	218,337
Interest on loans from shareholders and related parties		204,847		—
Interest on K2HV long term borrowing		—		1,732,687
Interest on lease liabilities		13,330		3,741
Other interest expenses		173,189		5,556
	$	614,902	$	1,960,321

e. Depreciation and amortization

	For the six months ended June 30
	2021		2022
Right-of-use assets	$	132,402	$	132,402
Property, plant and equipment		8,919		8,090
Computer software		504		2,060
	$	141,825	$	142,552

All depreciation and amortization expenses are recorded as general and administrative expenses for the six months ended June 30, 2021, and 2022.

f. Employee benefits expense

	For the six months ended June 30
	2021		2022
Short-term benefits	$	3,255,606	$	4,900,660
Post-employment benefits (Note 11)		121,676		200,712
Share-based payments
Equity-settled		1,564,673		1,336,637
Cash-settled (Note 11)		765,201		(380,964	)
Total employee benefits expense	$	5,707,156	$	6,057,045
Employee benefits expense by function
General and administrative expenses	$	4,158,710	$	2,997,087
Research and development expenses		1,548,446		3,059,958
	$	5,707,156	$	6,057,045

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Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax [Abstract]

Income Taxes

15. INCOME TAXES

Income Tax Recognized in Profit or Loss

	For the six months ended June 30
	2021		2022
Current tax
In respect of the current period	$	—	$	—

The Company has unused tax losses of $233 million for the financial period ended June 30, 2022 (fiscal year 2021: $207 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, 2021 and 2022, 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, 2021, and 2022, 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, 2021, and 2022, 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, 2021, and 2022, 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, 2021, and therefore, no provision for income tax is required. For the six months ended June 30, 2022, ASLAN Pharmaceuticals (USA) Inc. has taxable income; therefore, total $70,000 tax provision for income tax was prepaid.

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Loss Per Share

6 Months Ended

Jun. 30, 2022

Earnings per share [abstract]

Loss Per Share

16. LOSS PER SHARE

	For the six months ended June 30
	2021			2022
Basic and diluted loss per ordinary share	$	(0.04	)	$	(0.07	)
Basic and diluted loss per equivalent ADS	$	(0.20	)	$	(0.35	)

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
	2021			2022
Loss used in the computation of basic and diluted loss per share	$	(12,149,543	)	$	(25,971,668)
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share		302,985,377			348,723,365
Weighted-average number of ADS in the computation of basic loss per ADS		60,597,075			69,744,673

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Share-Based Payment Arrangements

6 Months Ended

Jun. 30, 2022

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 2014 employee share option plan (the “2014 Plan”), qualified employees of the Company and its subsidiaries were granted 6,850,356 options (representing 13,700,712 ordinary shares post share split) from July 2010 to July 2016, among which 2,199,500 options (representing 4,399,000 ordinary shares post share split) were expired or exercised as of June 30, 2022. 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.

Under the Company’s 2017 employee share option plan (the “2017 Plan”), qualified employees of the Company and its subsidiaries were granted 825,833 options in September 2017. Each option entitles the holder to subscribe for one ordinary share of the Company. Options granted pursuant to the 2014 Plan and the 2017 Plan are all vested in full or expired as of June 30, 2022.

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 was originally 20,676,974 ordinary shares (an equivalent of 4,135,395 ADS of the Company, each ADS representing five ordinary shares). On December 15, 2020, and during the year ended December 31, 2021, 3,824,062 and 282,000 options were granted under the Company’s 2020 EIP, respectively. Each option entitles the holder to subscribe for one ADS of the Company. The options granted are valid for 10 years. No performance conditions were attached to the plan. No more than 62,030,922 ordinary shares (an equivalent of 12,406,184 ADS) may be issued under the 2020 EIP upon the exercise of incentive stock options. In addition, the number of ordinary shares reserved for issuance under the 2020 EIP will automatically increase on January 1 of each year, commencing on January 1, 2022, and ending on (and including) January 1, 2030, in an amount equal to 4% of the total number of ordinary shares outstanding on December 31 of the preceding calendar year. The Board may act prior to January 1 of a given year to provide that there will be no increase for such year or that the increase for such year will be a lesser number of ordinary shares.

In connection with the approval of the 2020 EIP, the Board determined that there would be no increase for January 1, 2021, but there would be an increase of 13,948,935 ordinary shares (an equivalent of 2,789,787 ADS) representing 4% of the total outstanding ordinary shares as of December 31, 2021. 8,875,745 ordinary shares (an equivalent of 1,775,149 ADS) were granted on January 1, 2022. If an award under the 2020 EIP expires, lapses or is terminated, exchanged for cash, surrendered, repurchased, cancelled without having been fully exercised, forfeited or is withheld to satisfy a tax withholding obligation in connection with an award or to satisfy a purchase or exercise price of an award, any unused shares subject to the award will, as applicable, become or again be available for new grants under the 2020 EIP. Awards granted under the 2020 EIP in substitution for any options or other equity or equity-based awards granted by an entity before the entity’s merger or consolidation with the Company or the Company’s acquisition of the entity’s property or stock will not reduce the number of ordinary shares available for grant under the 2020 EIP but will count against the maximum number of ordinary shares that may be issued upon the exercise of incentive stock options.

Information on employee share options granted under the 2014 Plan is as follows. Each option entitles the holder to subscribe for two ordinary shares of the Company due to the 2016 share split (1 ADS represents 5 ordinary shares). Total options exercisable as of June 30, 2022, under the 2014 Plan are approximately 1,857,843 ADS (representing 9,289,212 ordinary shares post share split). Movements for the six months ended June 30, 2021, and June 30, 2022, respectively, as follows:

	For the six months ended June 30
	2021					2022
	Number of Options			Weighted- average Exercise Price		Number of Options			Weighted- average Exercise Price
Balance on January 1		6,670,356		$	1.43		6,097,856		$	1.43
Options expired		—			—		(1,453,250	)		0.67
Options exercised		(114,500	)		1.87		—			—
Balance on June 30		6,555,856			1.43		4,644,606			1.76
Options exercisable, end of period		6,555,856			1.43		4,644,606			1.76
Options in equivalent of ADS exercisable, end of period		2,622,342		$	3.58		1,857,843		$	4.40

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). Total options exercisable as of June 30, 2022, under the 2017 Plan are approximately 100,234 ADS (representing 501,167 ordinary shares). Movements for the six months ended June 30, 2021, and June 30, 2022, as follows:

	For the six months ended June 30
	2021				2022
	Number of Options		Weighted- average Exercise Price		Number of Options		Weighted- average Exercise Price
Balance on January 1		501,167	$	1.28		501,167	$	1.28
Options exercised		—		—		—		—
Balance on June 30		501,167		1.28		501,167		1.28
Options exercisable, end of period		501,167		1.28		501,167		1.28
Options in equivalent of ADS exercisable, end of period		100,234	$	6.40		100,234	$	6.40

Information on employee share options granted under the 2020 EIP is as follows. Each option entitles the holder to subscribe for one ADS of the Company:

	For the six months ended June 30 2022
	Number of Options			Weighted- average Exercise Price Per Option
Balance on January 1, 2022		4,021,562		$	2.06
Options granted		1,775,149			1.12
Options forfeited		(744,372	)		2.06
Balance on June 30, 2022		5,052,339			1.77
Options exercisable, end of period		1,206,022			1.77
Weighted-average fair value of options granted				$	1.30

Options granted under the 2014 Plan, 2017 Plan and 2020 EIP were valued using the binomial option pricing model. The inputs to the model and the information on outstanding options as of June 30, 2022, are as follows:

Grant Date	Grant-date share price*		Range of Exercise Price*		Contractual Life (Years)		Weighted- average Remaining Contractual Life (Years)		Expected volatility			Expected dividend yield		Risk-free interest rate
July 2013	$	0.80 -$1.36	$	0.80 -$1.36		10		1.0		50.58	%		—		2.50	%
July 2014	$	1.36	$	1.36		10		2.0		50.86	%		—		2.58	%
July 2015	$	1.88	$	1.36 -$1.88		10		3.0		36.37	%		—		2.43	%
July 2016	$	2.26	$	2.26		10		4.0		39.34	%		—		1.46	%
July 2017	$	1.28	$	1.28		10		5.2		38.33	%		—		1.10	%
December 2020	$	2.06	$	2.06		10		8.5		66.25	%		—		0.92	%
January-July 2021	$	2.35 -$4.12	$	2.35 -$4.12		10		8.7		59.99% -64.92	%		—		1.07%-1.69	%
January 2022	$	1.12	$	1.12		10		9.5		122.1	%		—		1.27%-1.43	%

* In equivalent of ADS price

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, 2021, and June 30, 2022, were $1,564,673 and $1,336,637, 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 $3.30 and $0.50 as of June 30, 2021, and June 30, 2022, respectively.

The Company’s 2017 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		215,133			201,266
Awards exercised		(13,867	)		—
Awards forfeited		—			—
Balance at June 30		201,266			201,266
Balance exercisable, end of period		201,266			201,266

The Company’s 2018 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		142,445			132,517
Awards exercised		(9,928	)		—
Awards forfeited		—			—
Balance at June 30		132,517			132,517
Balance exercisable, end of period		89,309			132,517

The Company’s 2019 LTIP is described as follows:

	For the six months Ended June 30
	2021		2022
Balance at January 1		386,950		386,950
Awards forfeited		—		—
Balance at June 30		386,950		386,950
Balance exercisable, end of period		128,983		257,967

Each bonus entitlement unit grants the holders of the LTIPs a conditional right to receive an amount of cash equal to the per-unit fair market value of the Company’s ordinary shares and ADS, respectively, on the settlement date. The LTIPs qualify as cash-settled share-based payment transactions. The Company recognizes the liabilities in respect of its obligations under the LTIPs, which are measured based on the Company’s quoted market price of its ADS at the reporting date and takes into account the extent to which the services have been rendered to date.

The Company recognized total expenses of $765,201 and total income $380,964 in respect of the LTIPs for the six months ended June 30, 2021, and 2022, respectively. As of December 31, 2021, and June 30, 2022, the Company recognized compensation liabilities of $701,582 and $320,618 as current (classified as other payables), respectively.

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Capital Management

6 Months Ended

Jun. 30, 2022

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. 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, 2022, 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 12 under K2HV Loan Agreement.

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Reconciliation Of Liabilities Arising from Financing Activities

6 Months Ended

Jun. 30, 2022

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 changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Company’s consolidated statements of cash flows as cash flows from financing activities.

									Non-cash changes
	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 12)	$	15,183,421		—			—			—			(192,177	)		223,536	$	15,214,780
Current borrowings	$	2,900,971		(355,744	)		(2,700,000	)		—			—			154,773	$	—
Current borrowings from related parties	$	617,912		(117,986	)		(550,000	)		—			—			50,074	$	—
Interest payables (Note 11)	$	735,510		(736,469	)		—			—			—			172,222	$	171,263

									Non-cash changes
	January 1, 2022		Interest paid			Net proceeds/ (repayment)			Additions/ (Transfers)			Others*			Interest expense		June 30, 2022
Lease Liabilities – current	$	199,124		(3,741	)		(149,007	)		—			—			3,741	$	50,117
Long-term borrowings (Note 12)	$	30,857,308		—			5,000,000			(1,044,027	)		(344,266	)		1,951,024	$	36,420,039
Interest payables (Note 11)	$	142,083		(996,355	)		—			1,044,027			—			5,556	$	195,313

* Others comprise mainly foreign currency translation differences.

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Financial Instruments

6 Months Ended

Jun. 30, 2022

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, 2021

	Level 1		Level 2		Level 3		Total
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	223,352	$	223,352

June 30, 2022

	Level 1		Level 2		Level 3		Total
Financial assets at FVTPL
Short-term investments:
U.S. Government treasuries	$	5,009,974	$	—	$	—	$	5,009,974
Commercial paper		—		11,034,759		—		11,034,759
Corporate Bonds		—		498,619		—		498,619
	$	5,009,974	$	11,533,378	$	—	$	16,543,352
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	119,351	$	119,351

The following three levels of inputs are used to measure the fair value presented above:

Level 1 — Quoted prices in active markets for identical assets and liabilities.

Level 2 — Significant other observable inputs.

Level 3 — Significant unobservable inputs.

There was no transfer between Levels 1 and 2 financial instruments in the current and prior periods.

Valuation techniques and assumptions used in Level 2 fair value measurement

The fair values of corporate fixed income, and commercial paper are determined by quoted market prices provided by third party pricing services.

2) Valuation techniques and inputs applied for Level 3 fair value measurement

As of December 31, 2021, and June 30, 2022, fair value of the Level 3 instrument was the derivative financial liabilities – K2HV warrants. 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. The historical volatility used for valuation was 160.3% and 154.0% as of December 31, 2021, and June 30, 2022, respectively.

c. Categories of financial instruments

	December 31, 2021		June 30, 2022
Financial assets
Financial assets at FVTPL
Short term investment
U.S. government treasuries	$	—	$	5,009,974
Commercial papers		—		11,034,759
Corporate fixed income		—		498,619
Total	$	—	$	16,543,352
Financial assets at amortized cost (1)	$	91,047,060		61,660,693
Financial liabilities
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	223,352		119,351
Financial liabilities at amortized cost (2)	$	36,090,421		47,455,346

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 amortised cost, which comprise of trade payables, partial other payables, other current liabilities 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. 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, 2021
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	837,336		0.7411	$	620,563
Financial liabilities
Monetary items
SGD	S$	15,649,526		0.7411	$	11,598,118

	June 30, 2022
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	1,954,107		0.7189	$	1,404,751
Financial liabilities
Monetary items
SGD	S$	15,858,480		0.7189	$	11,400,203

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 loss where the U.S. dollar strengthens 5% against the relevant currency. For a 5% weakening of the U.S. dollar against the relevant currency, there would be an equal and opposite impact on pre-tax loss, and the balances below would be negative.

	For the six months ended June 30
	2021			2022
Profit or loss*
SGD	$	(487,150	)	$	(499,773	)

* 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 baseline interest plus floating 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 point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

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, 2021, and 2022 would have decreased/increased by $153,860 and $364,200, respectively.

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 ADS. The Company may also use other means of financing such as out licensing to generate revenue and cash. Management believes that it currently has plans and opportunities in place which will allow to fund and meet its operating expenses and capital expenditure requirements and meet its obligations for at least the next twelve months from June 30, 2022.

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. Further, the Company has an ATM Sales Agreement with Jefferies LLC, pursuant to which it raised net proceeds of $14.1 million during the year ended December 31, 2021. As of December 31, 2021, the Company had $62.8 million in proceeds available for sale under this ATM Sales Agreement. 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 12 for details.

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Transactions with Related Parties

6 Months Ended

Jun. 30, 2022

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

Interest expense

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Related party in substance / JANK Howden Pty Ltd	$	45,522	$	—
Key Management Personnel / Others		4,552		—
	$	50,074	$	—

The loans from the related parties were repaid on March 22, 2021.

b. Compensation of Key Management Personnel

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Short-term employee benefits	$	1,073,166	$	1,102,592
Post-employment benefits		58,300		242,554
Share-based payments recognized		765,201		602,988
	$	1,896,667	$	1,948,134

The remuneration of directors and key executives was determined by the Remuneration Committee based on the performance of individuals and market trends.

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Segment Information and seasonality

6 Months Ended

Jun. 30, 2022

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 for the six months ended June 30, 2021, and June 30, 2022.

The Company’s operations are not affected by any significant seasonality fluctuations.

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Material License Agreements

6 Months Ended

Jun. 30, 2022

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 farudodstat, for rheumatoid arthritis (excluding any topical formulation), without upfront payments. Under the license agreement, the Company agreed to fund and develop farudodstat to the end of Phase 2 through a development program.

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 farudodstat products for all human 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, 2022, 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 receptor monoclonal antibody, CSL334 (which the Company refers to as eblasakimab) and antigen binding fragments thereof, for the treatment, diagnosis or prevention of diseases or conditions in humans, without upfront payments. This license agreement was amended in May 31, 2019, pursuant to which the Company obtained an exclusive, worldwide license to certain intellectual property owned or licensed by CSL, including patents and know-how, to develop, manufacture for clinical trials and commercialise eblasakimab for the treatment, diagnosis or prevention of diseases or conditions in humans. The Company’s development under such agreement is currently focused on the treatment of respiratory and inflammatory conditions, and in particular, atopic dermatitis.

Under the amended agreement, the Company is generally obligated to use diligent efforts to develop eblasakimab products in accordance with the development plan, to obtain marketing approvals for eblasakimab products worldwide and to commercialise eblasakimab 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 eblasakimab. The Company will also be required to pay up to an aggregate of $95 million to CSL if certain regulatory milestones are achieved, up to an aggregate of $655 million if certain sales milestones are achieved and tiered royalties on net sales of eblasakimab products ranging between a mid-single digit percentage and 10%. The Company is also responsible for all payments to third-party licensors to CSL, to the extent such obligations relate to the exploitation of the rights licensed under CSL’s agreement with those parties and sublicensed to the Company under the amended agreement. As of June 30, 2022, the Phase 2b clinical trial investigating eblasakimab as a therapeutic antibody for moderate-to-severe atopic dermatitis is still ongoing and the aforementioned milestones have not been met. The Company did not make any other payments related to the in-license agreements for the six months ended June 30, 2021, and 2022.

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Other Items/ Subsequent Events

6 Months Ended

Jun. 30, 2022

Disclosure of non-adjusting events after reporting period [abstract]

Other Items/ Subsequent Events

24. OTHER ITEMS/ SUBSEQUENT EVENTS

On July 7, 2022, the Board resolved to reduce the exercise price of options granted under the Company’s 2020 Equity Incentive Plan. In order to retain and motivate key individuals, the repricing date was effective July 7, 2022, with a modified exercise price of $0.52 per ADS for 5,055,839 options granted under the 2020 EIP. The Company is measuring the financial impact due to this change and will include the incremental fair value costs in the FY 2022 financial statements in accordance with IFRS 2 “Share-based payment”. The Company estimates that these costs will not be material.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

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.

Other significant accounting policies

d. Other significant accounting policies

The accounting policies applied in these condensed consolidated financial statements are the same as those applied in the Company’s consolidated financial statements as of and for the year ended December 31, 2021.

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Application of New Amended and Revised Standards and Interpretations (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure Of Initial Application Of Standards Or Interpretations [Abstract]

Disclosure of New Amended or Revised Standards and Interpretations Explanatory

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)
Amendments to IAS 1 “Classification of Liabilities as Current or Non-current”	January 1, 2023 (Note 2)
IFRS 17 “Insurance Contracts”	January 1, 2023
Amendments to IFRS 17	January 1, 2023
Amendments to IAS 1 and IFRS Practice Statement 2 “Disclosure of Accounting Policies”	To be determined by IASB
Amendments to IAS 8 “Definition of Accounting Estimates”	January 1, 2023
Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”	January 1, 2023

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Cash and Cash Equivalents (Tables)

6 Months Ended

Jun. 30, 2022

Cash and cash equivalents [Abstract]

Summary of Cash and Cash Equivalents

	December 31, 2021		June 30, 2022
Cash in bank	$	90,167,967	$	48,056,304
Money market fund		—		10,120,088
Commercial paper		—		2,795,199
Corporate fixed income		—		604,872
	$	90,167,967	$	61,576,463

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Short-Term Investments (Tables)

6 Months Ended

Jun. 30, 2022

Short Term Investments [Abstract]

Summary of Short-Term Investments

	December 31,		June 30,
	2021		2022
Short-term investments	$	—	$	16,543,352

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Other Assets (Tables)

6 Months Ended

Jun. 30, 2022

Other Assets Current And Non Current [Abstract]

Summary of Other Assets

	December 31,		June 30,
	2021		2022
Current
Prepayments	$	2,733,753	$	2,160,016
Refundable deposits		879,093		84,230
	$	3,612,846	$	2,244,246

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Investment in Associate Company (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure of associates [abstract]

Summary of Subsidiaries That Have Material Non-controlling Interests

Details of the material associate:

			Proportion of Ownership and Voting Rights Held by the Company
Name	Principal Activity	Principal Place of Business	December 31, 2021	June 30, 2022
Jaguahr Therapeutics Pte. Ltd.	New drug research and development	Singapore	35%	35%

* On April 28, 2021, the Company’s shareholding was diluted from 55% to 35% resulting in a loss of control as further detailed above. A gain on dilution of subsidiary of $2,307,735 represents 1) the classification of the capital reserve of $1,376,349, 2) non-controlling interest derecognised of $31,717 at the date of dilution and 3) 35% of the fair value of net identifiable assets of Jaguahr Therapeutics Pte. Ltd. at the date of the dilution being recognised for the year ended December 31, 2021. 

Summary of Financial Information Before Intragroup Eliminations

Summarized financial information of Jaguahr Therapeutics Pte. Ltd. is set out below. The summarized financial information below represents amounts in associate company financial statements prepared in accordance with IFRS.

	December 31,			June 30,
	2021			2022
Current assets	$	1,384,013		$	720,107
Current liabilities		(113,674	)		(342,258	)
Equity	$	1,270,339		$	377,849

	For the Period Ended June 30
	2021			2022
Revenue	$	—		$	—
Loss for the period, representing total comprehensive loss for the period	$	(1,897,844	)	$	(892,490	)
Attributable to:
Stockholders of the Company	$	(1,628,880	)	$	(580,118	)
Non-controlling interests		(268,964	)		(312,372	)
	$	(1,897,844	)	$	(892,490	)

Summary of Movements in Investment in Associates

Movements in investment in associate company are as follows:

	December 31,		June 30,
	2021		2022
Net assets of associate	$	1,270,339	$	377,849
Beginning balance	$	—	$	494,728
Share of results of associate accounted for using equity method		444,619		(312,372	)
Loss of interest at the date of dilution of shares in the associate		50,109		—
Impairment loss of associate accounted for using equity method		—		(50,109	)
Ending balance	$	494,728	$	132,247

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Other Payables (Tables)

6 Months Ended

Jun. 30, 2022

Trade And Other Payables [Abstract]

Schedule of Other Payables

	December 31,		June 30,
	2021		2022
Payables for cash-settled share-based payment transactions (Note 17)	$	701,582	$	320,618
Payables for salaries and bonuses		1,387,416		818,090
Interest payables		142,083		195,313
Payables for professional fees		507,340		470,570
Others		79,488		108,429
	$	2,817,909	$	1,913,020

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Borrowings (Tables)

6 Months Ended

Jun. 30, 2022

Borrowings [abstract]

Summary of Loans

	December 31,		June 30,
	2021		2022
Long-term borrowings – Unsecured
Loans from government (a)	$	7,341,127	$	7,121,220
Other long-term borrowings (b)		19,521,647		25,210,306
Interest payables (a)		3,994,534		4,088,513
	$	30,857,308	$	36,420,039

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Equity (Tables)

6 Months Ended

Jun. 30, 2022

Equity [abstract]

Schedule of Ordinary Shares

Ordinary shares

	December 31,		June 30,
	2021		2022
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		348,723,365		348,723,365
Number of equivalent ADS issued and fully paid		69,744,673		69,744,673
Amount of ordinary shares authorized	$	5,000,000	$	5,000,000
Amount of share capital par value issued and fully paid	$	63,019,962	$	63,019,962
Amount of share capital surplus issued and fully paid	$	213,098,729	$	213,098,729

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Loss Before Income Tax (Tables)

6 Months Ended

Jun. 30, 2022

Profit (loss) [Abstract]

Summary of General and Administrative Expenses

a. General and administrative expenses

	June 30,		June 30,
	2021		2022
General and administrative expenses	$	6,893,836	$	4,855,050

Summary of Research and Development Expenses

b. Research and development expenses

	June 30,		June 30,
	2021		2022
Research and development expenses	$	7,795,493	$	19,339,045

Summary of Other Income

c. Other income

	June 30,		June 30,
	2021		2022
ADS issuance contribution	$	309,527	$	—
Short-term investment valuation gain		—		30,191
Government grants for research and development expenditures		—		104,822
Government subsidies		21,392		21,736
Others		9,157		—
	$	340,076	$	156,749

Summary of Finance costs

d. Finance costs

	For the six months ended June 30
	2021		2022
Interest on government loans	$	223,536	$	218,337
Interest on loans from shareholders and related parties		204,847		—
Interest on K2HV long term borrowing		—		1,732,687
Interest on lease liabilities		13,330		3,741
Other interest expenses		173,189		5,556
	$	614,902	$	1,960,321

Schedule of Depreciation and Amortization

e. Depreciation and amortization

	For the six months ended June 30
	2021		2022
Right-of-use assets	$	132,402	$	132,402
Property, plant and equipment		8,919		8,090
Computer software		504		2,060
	$	141,825	$	142,552

Schedule of Employee Benefits Expense

f. Employee benefits expense

	For the six months ended June 30
	2021		2022
Short-term benefits	$	3,255,606	$	4,900,660
Post-employment benefits (Note 11)		121,676		200,712
Share-based payments
Equity-settled		1,564,673		1,336,637
Cash-settled (Note 11)		765,201		(380,964	)
Total employee benefits expense	$	5,707,156	$	6,057,045
Employee benefits expense by function
General and administrative expenses	$	4,158,710	$	2,997,087
Research and development expenses		1,548,446		3,059,958
	$	5,707,156	$	6,057,045

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax [Abstract]

Summary of Income Tax Recognized in Profit or Loss

Income Tax Recognized in Profit or Loss

	For the six months ended June 30
	2021		2022
Current tax
In respect of the current period	$	—	$	—

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Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings per share [abstract]

Summary of Earnings Per Share

	For the six months ended June 30
	2021			2022
Basic and diluted loss per ordinary share	$	(0.04	)	$	(0.07	)
Basic and diluted loss per equivalent ADS	$	(0.20	)	$	(0.35	)

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
	2021			2022
Loss used in the computation of basic and diluted loss per share	$	(12,149,543	)	$	(25,971,668)
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share		302,985,377			348,723,365
Weighted-average number of ADS in the computation of basic loss per ADS		60,597,075			69,744,673

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Share-Based Payment Arrangements (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of Employee Share Options

Information on employee share options granted under the 2014 Plan is as follows. Each option entitles the holder to subscribe for two ordinary shares of the Company due to the 2016 share split (1 ADS represents 5 ordinary shares). Total options exercisable as of June 30, 2022, under the 2014 Plan are approximately 1,857,843 ADS (representing 9,289,212 ordinary shares post share split). Movements for the six months ended June 30, 2021, and June 30, 2022, respectively, as follows:

	For the six months ended June 30
	2021					2022
	Number of Options			Weighted- average Exercise Price		Number of Options			Weighted- average Exercise Price
Balance on January 1		6,670,356		$	1.43		6,097,856		$	1.43
Options expired		—			—		(1,453,250	)		0.67
Options exercised		(114,500	)		1.87		—			—
Balance on June 30		6,555,856			1.43		4,644,606			1.76
Options exercisable, end of period		6,555,856			1.43		4,644,606			1.76
Options in equivalent of ADS exercisable, end of period		2,622,342		$	3.58		1,857,843		$	4.40

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). Total options exercisable as of June 30, 2022, under the 2017 Plan are approximately 100,234 ADS (representing 501,167 ordinary shares). Movements for the six months ended June 30, 2021, and June 30, 2022, as follows:

	For the six months ended June 30
	2021				2022
	Number of Options		Weighted- average Exercise Price		Number of Options		Weighted- average Exercise Price
Balance on January 1		501,167	$	1.28		501,167	$	1.28
Options exercised		—		—		—		—
Balance on June 30		501,167		1.28		501,167		1.28
Options exercisable, end of period		501,167		1.28		501,167		1.28
Options in equivalent of ADS exercisable, end of period		100,234	$	6.40		100,234	$	6.40

Information on employee share options granted under the 2020 EIP is as follows. Each option entitles the holder to subscribe for one ADS of the Company:

	For the six months ended June 30 2022
	Number of Options			Weighted- average Exercise Price Per Option
Balance on January 1, 2022		4,021,562		$	2.06
Options granted		1,775,149			1.12
Options forfeited		(744,372	)		2.06
Balance on June 30, 2022		5,052,339			1.77
Options exercisable, end of period		1,206,022			1.77
Weighted-average fair value of options granted				$	1.30

Summary of Outstanding Options

Options granted under the 2014 Plan, 2017 Plan and 2020 EIP were valued using the binomial option pricing model. The inputs to the model and the information on outstanding options as of June 30, 2022, are as follows:

Grant Date	Grant-date share price*		Range of Exercise Price*		Contractual Life (Years)		Weighted- average Remaining Contractual Life (Years)		Expected volatility			Expected dividend yield		Risk-free interest rate
July 2013	$	0.80 -$1.36	$	0.80 -$1.36		10		1.0		50.58	%		—		2.50	%
July 2014	$	1.36	$	1.36		10		2.0		50.86	%		—		2.58	%
July 2015	$	1.88	$	1.36 -$1.88		10		3.0		36.37	%		—		2.43	%
July 2016	$	2.26	$	2.26		10		4.0		39.34	%		—		1.46	%
July 2017	$	1.28	$	1.28		10		5.2		38.33	%		—		1.10	%
December 2020	$	2.06	$	2.06		10		8.5		66.25	%		—		0.92	%
January-July 2021	$	2.35 -$4.12	$	2.35 -$4.12		10		8.7		59.99% -64.92	%		—		1.07%-1.69	%
January 2022	$	1.12	$	1.12		10		9.5		122.1	%		—		1.27%-1.43	%

* In equivalent of ADS price

Summary of Options Granted Priced Using Binomial Option Pricing Model

Options granted under the 2014 Plan, 2017 Plan and 2020 EIP were valued using the binomial option pricing model. The inputs to the model and the information on outstanding options as of June 30, 2022, are as follows:

Grant Date	Grant-date share price*		Range of Exercise Price*		Contractual Life (Years)		Weighted- average Remaining Contractual Life (Years)		Expected volatility			Expected dividend yield		Risk-free interest rate
July 2013	$	0.80 -$1.36	$	0.80 -$1.36		10		1.0		50.58	%		—		2.50	%
July 2014	$	1.36	$	1.36		10		2.0		50.86	%		—		2.58	%
July 2015	$	1.88	$	1.36 -$1.88		10		3.0		36.37	%		—		2.43	%
July 2016	$	2.26	$	2.26		10		4.0		39.34	%		—		1.46	%
July 2017	$	1.28	$	1.28		10		5.2		38.33	%		—		1.10	%
December 2020	$	2.06	$	2.06		10		8.5		66.25	%		—		0.92	%
January-July 2021	$	2.35 -$4.12	$	2.35 -$4.12		10		8.7		59.99% -64.92	%		—		1.07%-1.69	%
January 2022	$	1.12	$	1.12		10		9.5		122.1	%		—		1.27%-1.43	%

Summary of Long Term Incentive Plan

The Company’s 2017 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		215,133			201,266
Awards exercised		(13,867	)		—
Awards forfeited		—			—
Balance at June 30		201,266			201,266
Balance exercisable, end of period		201,266			201,266

The Company’s 2018 LTIP is described as follows:

	For the six months Ended June 30
	2021			2022
Balance at January 1		142,445			132,517
Awards exercised		(9,928	)		—
Awards forfeited		—			—
Balance at June 30		132,517			132,517
Balance exercisable, end of period		89,309			132,517

The Company’s 2019 LTIP is described as follows:

	For the six months Ended June 30
	2021		2022
Balance at January 1		386,950		386,950
Awards forfeited		—		—
Balance at June 30		386,950		386,950
Balance exercisable, end of period		128,983		257,967

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Reconciliation of Liabilities Arising from Financing Activities (Tables)

6 Months Ended

Jun. 30, 2022

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 changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Company’s consolidated statements of cash flows as cash flows from financing activities.

									Non-cash changes
	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 12)	$	15,183,421		—			—			—			(192,177	)		223,536	$	15,214,780
Current borrowings	$	2,900,971		(355,744	)		(2,700,000	)		—			—			154,773	$	—
Current borrowings from related parties	$	617,912		(117,986	)		(550,000	)		—			—			50,074	$	—
Interest payables (Note 11)	$	735,510		(736,469	)		—			—			—			172,222	$	171,263

									Non-cash changes
	January 1, 2022		Interest paid			Net proceeds/ (repayment)			Additions/ (Transfers)			Others*			Interest expense		June 30, 2022
Lease Liabilities – current	$	199,124		(3,741	)		(149,007	)		—			—			3,741	$	50,117
Long-term borrowings (Note 12)	$	30,857,308		—			5,000,000			(1,044,027	)		(344,266	)		1,951,024	$	36,420,039
Interest payables (Note 11)	$	142,083		(996,355	)		—			1,044,027			—			5,556	$	195,313

* Others comprise mainly foreign currency translation differences.

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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure of detailed information about financial instruments [abstract]

Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis

December 31, 2021

	Level 1		Level 2		Level 3		Total
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	223,352	$	223,352

June 30, 2022

	Level 1		Level 2		Level 3		Total
Financial assets at FVTPL
Short-term investments:
U.S. Government treasuries	$	5,009,974	$	—	$	—	$	5,009,974
Commercial paper		—		11,034,759		—		11,034,759
Corporate Bonds		—		498,619		—		498,619
	$	5,009,974	$	11,533,378	$	—	$	16,543,352
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	—	$	—	$	119,351	$	119,351

Summary of Categories of Financial Instruments

	December 31, 2021		June 30, 2022
Financial assets
Financial assets at FVTPL
Short term investment
U.S. government treasuries	$	—	$	5,009,974
Commercial papers		—		11,034,759
Corporate fixed income		—		498,619
Total	$	—	$	16,543,352
Financial assets at amortized cost (1)	$	91,047,060		61,660,693
Financial liabilities
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$	223,352		119,351
Financial liabilities at amortized cost (2)	$	36,090,421		47,455,346

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 amortised cost, which comprise of trade payables, partial other payables, other current liabilities 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, 2021
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	837,336		0.7411	$	620,563
Financial liabilities
Monetary items
SGD	S$	15,649,526		0.7411	$	11,598,118

	June 30, 2022
	Foreign Currencies		Exchange Rate		Carrying Amount
Financial assets
Monetary items
SGD	S$	1,954,107		0.7189	$	1,404,751
Financial liabilities
Monetary items
SGD	S$	15,858,480		0.7189	$	11,400,203

Sensitivity Analysis of Foreign Currency Risk

	For the six months ended June 30
	2021			2022
Profit or loss*
SGD	$	(487,150	)	$	(499,773	)

* This is mainly attributable to the exposure to outstanding deposits in banks and loans in foreign currency at the end of the reporting period.

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Transactions with Related Parties (Tables)

6 Months Ended

Jun. 30, 2022

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

Interest expense

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Related party in substance / JANK Howden Pty Ltd	$	45,522	$	—
Key Management Personnel / Others		4,552		—
	$	50,074	$	—

Schedule of Key Management Personnel Compensation

b. Compensation of Key Management Personnel

	For the six months Ended June 30
Related Party Category/Name	2021		2022
Short-term employee benefits	$	1,073,166	$	1,102,592
Post-employment benefits		58,300		242,554
Share-based payments recognized		765,201		602,988
	$	1,896,667	$	1,948,134

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Application of New Amended and Revised Standards and Interpretations - Schedule of New Amended or Revised Standards and Interpretations (Detail)	6 Months Ended
	Jun. 30, 2022
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. 01, 2022
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]
Effective Date Announced by IASB	Jan. 01, 2022
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. 01, 2023
Amendments To IAS 1 [Member]
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items]
New, Amended or Revised Standards and Interpretations	Amendments to IAS 1 “Classification of Liabilities as Current or Non-current”
Effective Date Announced by IASB	Jan. 01, 2023
Amendements to IFRS 17 [Member]
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items]
New, Amended or Revised Standards and Interpretations	Amendments to IFRS 17
Effective Date Announced by IASB	Jan. 01, 2023
Amendments to IAS 1 and IFRS Practice Statement 2 [Member]
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items]
New, Amended or Revised Standards and Interpretations	Amendments to IAS 1 and IFRS Practice Statement 2 “Disclosure ofAccounting Policies”
Effective Date Announced by IASB	To be determined by IASB
Amendments to IAS 8 [Member]
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items]
New, Amended or Revised Standards and Interpretations	Amendments to IAS 8 “Definition of Accounting Estimates”
Effective Date Announced by IASB	Jan. 01, 2023
Amendments to IAS 12 [Member]
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items]
New, Amended or Revised Standards and Interpretations	Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction”
Effective Date Announced by IASB	Jan. 01, 2023

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Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($)	Jun. 30, 2022	Feb. 28, 2022	Dec. 31, 2021
Cash and cash equivalents [Abstract]
Cash in banks	$ 48,056,304		$ 90,167,967
Money market fund	10,120,088		0
Commercial paper	2,795,199
Corporate fixed income	604,872
Cash	$ 61,576,463	$ 30,000,000	$ 90,167,967

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Cash and Cash Equivalents - Additional Information (Detail) - USD ($)			6 Months Ended
	Mar. 04, 2021	Feb. 25, 2021	Jun. 30, 2021	Jun. 30, 2022	Feb. 28, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Proceed from the sale of shares	$ 69,000,000	$ 18,000,000
Cash				$ 61,576,463	$ 30,000,000	$ 90,167,967
Bottom of Range
Disclosure of classes of share capital [line items]
Cash equivalent average coupon rate				1.28%
Top of Range
Disclosure of classes of share capital [line items]
Cash equivalent average coupon rate				2.15%
American Depositary Share
Disclosure of classes of share capital [line items]
Proceed from the sale of shares			$ 97,000,000

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Short-Term Investments - Summary of Short-Term Investments (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Short Term Investments [Abstract]
Short-term investments	$ 16,543,352	$ 0

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Short-Term Investments - Additional Information (Detail)	Jun. 30, 2022
Bottom of Range
Short Term Investments [Line Items]
Short term investment average coupon rate	0.35%
Top of Range
Short Term Investments [Line Items]
Short term investment average coupon rate	2.00%

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Other Assets - Summary of Other Assets (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Other Assets Current And Non Current [Abstract]
Prepayments	$ 2,160,016	$ 2,733,753
Refundable deposits	84,230	879,093
Other current assets	$ 2,244,246	$ 3,612,846

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Details of Subsidiaries that have Material Non-Controlling Interests - Additional Information (Detail) - USD ($)			6 Months Ended
	Apr. 28, 2021	Oct. 15, 2019	Jun. 30, 2022	Jun. 30, 2021
Statement [Line Items]
Profit (Loss) Allocated to Non-controlling Interests			$ 0	$ (268,964)
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method			$ (312,372)	(81,880)
Jaguahr Therapeutics Pte. Ltd
Statement [Line Items]
Proportion of ownership interest in joint venture		55.00%
Profit (Loss) Allocated to Non-controlling Interests				268,964
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method				$ 81,880
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%

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Investment in Associate Company - Summary of Subsidiaries That Have Material Non-controlling Interests (Detail) - Jaguahr Therapeutics Pte. Ltd	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
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	35.00%	35.00%

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Investment in Associate Company - Summary of Financial Information Before Intragroup Eliminations (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disclosure of subsidiaries [line items]
Current assets	$ 80,364,061		$ 93,780,813
Current liabilities	(11,525,393)		(6,357,171)
Total equity	32,668,712	$ 75,354,752	57,303,743	$ (10,152,284)
Revenue	0	0
Loss for the year, representing total comprehensive loss for the year	(24,194,095)	(14,689,329)
Attributable to:
Non-controlling interests	0	(268,964)
Total comprehensive loss for the period	(25,971,668)	(12,418,507)
Jaguahr Therapeutics Pte. Ltd
Disclosure of subsidiaries [line items]
Current assets	720,107		1,384,013
Current liabilities	(342,258)		(113,674)
Total equity	377,849		$ 1,270,339
Revenue	0	0
Loss for the year, representing total comprehensive loss for the year	(892,490)	(1,897,844)
Attributable to:
Stockholders of the Company	(580,118)	(1,628,880)
Non-controlling interests	312,372	268,964
Total comprehensive loss for the period	$ (892,490)	$ (1,897,844)

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Investment in Associate Company - Summary of Movements in Investment in Associates (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disclosure of associates [abstract]
Net assets of associate	$ 377,849		$ 1,270,339
Beginning balance	494,728	$ 0	0
Share of results of associate accounted for using equity method	(312,372)		444,619
Loss of interest at the date of dilution of shares in the associate	0		50,109
Impairment loss of associate accounted for using equity method	(50,109)	$ 0	0
Ending balance	$ 132,247		$ 494,728

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Investment in Associate Company - Summary of Associated Companies Accounted for Using the Equity Method (Detail)	6 Months Ended
	Jun. 30, 2022
Jaguahr Therapeutics Pte. Ltd
Disclosure of associates [line items]
Principal activities	New drug research and development

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Investment in Associate Company - Additional Information (Detail) - USD ($)			6 Months Ended
	Apr. 28, 2021	Oct. 15, 2019	Jun. 30, 2022	Jun. 30, 2021
Statement [Line Items]
Gain on dilution of subsidiary			$ 0	$ 2,307,735
Jaguahr Therapeutics Pte Ltd [Member]
Statement [Line Items]
Proportion of ownership interest in joint venture		55.00%
Gain on dilution of subsidiary				2,307,735
Reclassification of capital reserve				1,376,349
Non-controlling interests derecognized due to gain on dilution of subsidiary				$ 31,717
Percentage of the fair value of net identifiable assets			35.00%
Jaguahr Therapeutics Pte Ltd [Member] | Top of range [member]
Statement [Line Items]
Proportion of ownership interest in joint venture	55.00%
Jaguahr Therapeutics Pte Ltd [Member] | Bottom of range [member]
Statement [Line Items]
Proportion of ownership interest in joint venture	35.00%

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Other Payables - Schedule of Other Payables (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Trade And Other Payables [Abstract]
Payables for cash-settled share-based payment transactions (Note 17)	$ 320,618	$ 701,582
Payables for salaries and bonuses	818,090	1,387,416
Interest payables	195,313	142,083
Payables for professional fees	470,570	507,340
Others	108,429	79,488
Other Payables	$ 1,913,020	$ 2,817,909

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Borrowings - Summary of Loans (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Apr. 27, 2011
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings – Unsecured	$ 36,420,039	$ 30,857,308
Loans from Government
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings – Unsecured	7,121,220	7,341,127	$ 10,000,000
Other Long-term Borrowings
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings – Unsecured	25,210,306	19,521,647
Interest Payables
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings – Unsecured	$ 4,088,513	$ 3,994,534

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Borrowings - Additional Information (Detail)				6 Months Ended	12 Months Ended
	Jan. 05, 2022 USD ($) $ / shares shares	Jul. 12, 2021 USD ($) $ / shares	Apr. 27, 2011 USD ($)	Jun. 30, 2022 USD ($) d $ / shares	Dec. 31, 2021 USD ($) $ / shares
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings (Note 12)				$ 36,420,039	$ 30,857,308
Par value per shares | $ / shares				$ 0.01	$ 0.01
Loans from Government
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings (Note 12)			$ 10,000,000	$ 7,121,220	$ 7,341,127
Loan repayable period			five-year
Borrowings, interest rate			6.00%
Loans from Government
Disclosure Of Detailed Information About Borrowings [Line Items]
Long-term borrowings (Note 12)				$ 11,209,733	11,335,661
Two H V Loan Agreement [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Borrowings, interest rate	2.95%
Number of other equity instruments exercised or vested in share-based payment arrangement | d				0
Two H V Loan Agreement [Member] | Second Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Proceeds from non-current borrowings	$ 5,000,000
Two H V Loan Agreement [Member] | Ordinary Shares
Disclosure Of Detailed Information About Borrowings [Line Items]
Par value per shares | $ / shares	$ 0.5257
Two H V Loan Agreement [Member] | Ordinary Shares | Second Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Number of shares exercisable under the warrants | shares	1,402,891
Two H V Loan Agreement [Member] | American Depositary Share
Disclosure Of Detailed Information About Borrowings [Line Items]
Par value per shares | $ / shares	$ 2.6285
Two H V Loan Agreement [Member] | American Depositary Share | Second Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Number of shares exercisable under the warrants | shares	280,578
Two H V Loan Agreement [Member] | Top of Range | Second Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Proceeds from non-current borrowings	$ 25,000,000
K2HV Loan Agreement
Disclosure Of Detailed Information About Borrowings [Line Items]
Loan repayable period		July 12, 2031
Borrowings, interest rate		2.95%
Fair value of first tranche loan		$ 19,311,676
Term loans bear prime interest rate		plus 5.00%
Term loans annual interest rate		8.25%
Term loans monthly interest only payments, period		until August 1, 2023
Term loans monthly interest only payments, extension period		Aug. 01, 2024
Term loan maturity date		Jul. 01, 2025
Facility fee		$ 255,000
Percentage of additional facility fee		0.85%
Percentage of final payment fee		6.25%
Percentage of prepayment fee		3.00%
Subsequent to term loans monthly interest only payments, period				July 1, 2021, to July 31, 2023
Proceeds from warrant		$ 688,324
Fair value of warrants				$ 119,351	$ 223,352
Difference of fair value of warrants				$ 104,001
K2HV Loan Agreement | First Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Current borrowings		20,000,000
K2HV Loan Agreement | Second And Third Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Current borrowings		10,000,000
K2HV Loan Agreement | Fourth Tranche [Member]
Disclosure Of Detailed Information About Borrowings [Line Items]
Maximum borrowings		$ 15,000,000
K2HV Loan Agreement | Ordinary Shares
Disclosure Of Detailed Information About Borrowings [Line Items]
Par value per shares | $ / shares		$ 0.5257
K2HV Loan Agreement | American Depositary Share
Disclosure Of Detailed Information About Borrowings [Line Items]
Par value per shares | $ / shares		$ 2.6285
K2HV Loan Agreement | Top of Range
Disclosure Of Detailed Information About Borrowings [Line Items]
Long term borrowings		$ 45,000,000

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Equity - Schedule of Ordinary Shares (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
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 share capital par value issued and fully paid	$ 63,019,962	$ 63,019,962
Ordinary Shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid	348,723,365	348,723,365
Amount of share capital surplus issued and fully paid	$ 213,098,729	$ 213,098,729
American Depositary Share
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid	69,744,673	69,744,673

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Equity - Additional Information (Detail) - USD ($)		3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Proceeds from new share capital			$ 0	$ 101,555,708
ATM Sales Agreement [Member]
Proceeds from new share capital	$ 21,500,000
Proceeds available for sale under agreement					$ 62,800,000
Ordinary Shares
Number of shares issued			0
Number of shares issued and fully paid	348,723,365		348,723,365		348,723,365
Ordinary Shares | ATM Sales Agreement [Member]
Number of shares issued	44,314,860	19,720,500			44,314,860
Number of shares issued and fully paid	24,594,360				24,594,360
American Depositary Share
Number of shares issued			0
Number of shares issued and fully paid	69,744,673		69,744,673		69,744,673
American Depositary Share | 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	4,918,872	3,944,100			4,918,872

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Loss Before Income Tax - Summary of General and Administrative Expenses (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Profit (loss) [Abstract]
General and administrative expenses	$ 4,855,050	$ 6,893,836

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Loss Before Income Tax - Summary of Research and Development Expenses (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Analysis of income and expense [abstract]
Research and development expenses	$ 19,339,045	$ 7,795,493

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Loss Before Income Tax - Summary of Other Income (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Profit (loss) [Abstract]
ADS issuance contribution		$ 309,527
Short-term investment valuation gain	$ 30,191
Government grants for research and development expenditures	104,822
Government subsidies	21,736	21,392
Others		9,157
Other income	$ 156,749	$ 340,076

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Loss Before Income Tax - Summary of Finance costs (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Profit Loss [Abstract]
Interest on government loans	$ 218,337	$ 223,536
Interest on loans from shareholders and related parties	1,732,687	204,847
Interest on lease liabilities	3,741	13,330
Other interest expenses	5,556	173,189
Finance costs	$ 1,960,321	$ 614,902

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Loss Before Income Tax - Schedule of Depreciation and Amortization (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 142,552	$ 141,825
Right-of-Use Assets
Disclosure Of Property Plant And Equipment [Line Items]
Depreciation and amortization	132,402	132,402
Property, Plant and Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Depreciation and amortization	8,090	8,919
Computer software
Disclosure Of Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 2,060	$ 504

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Loss Before Income Tax - Schedule of Employee Benefits Expense (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Profit Loss [Abstract]
Short-term benefits	$ 4,900,660	$ 3,255,606
Post-employment benefits (Note 12)	200,712	121,676
Share-based payments
Equity-settled	1,336,637	1,564,673
Cash-settled (Note 11)	(380,964)	765,201
Total employee benefits expense	6,057,045	5,707,156
Employee benefits expense by function
General and administrative expenses	2,997,087	4,158,710
Research and development expenses	3,059,958	1,548,446
Total employee benefits expense	$ 6,057,045	$ 5,707,156

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Loss Before Income Tax - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items]
Other income	$ 156,749	$ 340,076
J.P. Morgan Chase Bank N.A
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items]
Other income	$ 100,000	$ 300,000

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Income Taxes - Summary of Income Tax Recognized in Profit or Loss (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Current tax
In respect of the current period	$ 0	$ 0

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Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Major Components Of Tax Expense Income [Line Items]
Unrecognized loss carryforward			$ 233,000,000	$ 207,000,000
Deferred tax assets recognized on tax losses			$ 0	$ 0
Taxable income	$ (25,971,668)	$ (12,418,507)
Provision for income tax	$ 0	0
Singapore
Major Components Of Tax Expense Income [Line Items]
Statutory corporate income tax rate	17.00%
Provision for income tax	$ 0	0
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
Provision for income tax	$ 70,000	$ 0
Federal income tax rate	21.00%
State income tax rate	8.70%

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Loss Per Share - Summary of Earnings Per Share (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Ordinary Shares
Earnings per share [line items]
Basic and diluted	$ (0.07)	$ (0.04)
American Depositary Share
Earnings per share [line items]
Basic and diluted	$ (0.35)	$ (0.2)

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Loss Per Share - Summary of Loss and Weighted Average Number of Ordinary Shares Outstanding (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Earnings per share [line items]
Loss used in the computation of basic and diluted loss per share	$ (25,971,668)	$ (12,149,543)
Ordinary Shares
Earnings per share [line items]
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share	348,723,365	302,985,377
American Depositary Share
Earnings per share [line items]
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share	69,744,673	60,597,075

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Share-based Payment Arrangements - Additional Information (Detail)					1 Months Ended		6 Months Ended		12 Months Ended
	Jul. 07, 2022 shares	Jan. 01, 2022 shares	Dec. 15, 2020 shares	Dec. 10, 2020 shares	Sep. 30, 2017 shares	Jul. 31, 2010 shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Compensation costs recognized | $							$ 1,336,637	$ 1,564,673
Other Payable
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Recognized compensation liabilities, Current | $							320,618		$ 701,582
Employee Share Option Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maximum number of ordinary shares issued				20,676,974
Employee Share Option Plan | American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maximum number of ordinary shares issued				4,135,395
Long Term Incentive Plans
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Reporting date fair value of award | $							0.5	3.3
Recognized net compensation income expenses | $							$ 380,964	$ 765,201
Two Thousand And Twenty Employee Share Option Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Option granted			3,824,062
2014 Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Increase decrease in exercise price							50.00%
Option granted						6,850,356
Number of share options expired in share-based payment arrangement							2,199,500
2014 Plan | Ordinary Shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Option granted						13,700,712
Number of share options expired in share-based payment arrangement							4,399,000
Total options exercisable							9,289,212
2014 Plan | American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Total options exercisable							1,857,843
2017 Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Option granted					825,833
2017 Plan | Ordinary Shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Total options exercisable							501,167
2017 Plan | American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Total options exercisable							100,234
2020 Equity Incentive Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maximum number of ordinary shares issued		8,875,745					62,030,922
Share option granted expiration period							10 years
Issuance of new share capital, shares							13,948,935
Option granted	5,055,839								282,000
Percentage of increase in outstanding shares							4.00%
2020 Equity Incentive Plan | American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maximum number of ordinary shares issued		1,775,149					12,406,184
Issuance of new share capital, shares							2,789,787

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Share-based Payment Arrangements - Summary of Employee Share Options (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) shares $ / shares	Jun. 30, 2021 shares $ / shares	Dec. 31, 2021 shares $ / shares
2014 Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Beginning of Period | shares	6,097,856	6,670,356	6,670,356
Number of Options, Expired | shares	(1,453,250)
Number of Options, Exercised | shares		(114,500)
Number of Options, Ending of Period | shares	4,644,606	6,555,856	6,097,856
Number of Options, Exercisable | shares	4,644,606	6,555,856
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares	$ 1.43	$ 1.43	$ 1.43
Weighted- average Exercise Price Per Option, Expired | $ / shares	0.67
Weighted- average Exercise Price Per Option, Exercised | $ / shares		1.87
Weighted- average Exercise Price Per Option, End of Period | $ / shares	1.76	1.43	$ 1.43
Weighted- average Exercise Price Per Option, Exercisable | $ / shares	$ 1.76	$ 1.43
2014 Plan | ASLN American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Exercisable | shares	1,857,843	2,622,342
Weighted- average Exercise Price Per Option, Exercisable | $ / shares	$ 4.4	$ 3.58
2017 Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Beginning of Period | shares	501,167	501,167	501,167
Number of Options, Ending of Period | shares	501,167	501,167	501,167
Number of Options, Exercisable | shares	501,167	501,167
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares	$ 1.28	$ 1.28	$ 1.28
Weighted- average Exercise Price Per Option, End of Period | $ / shares	1.28	1.28	$ 1.28
Weighted- average Exercise Price Per Option, Exercisable | $ / shares	$ 1.28	$ 1.28
2017 Plan | ASLN American Depositary Share
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Exercisable | shares	100,234	100,234
Weighted- average Exercise Price Per Option, Exercisable | $ / shares	$ 6.4	$ 6.4
2020 Equity Incentive Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Beginning of Period | shares	4,021,562
Number of Options, Granted | shares	1,775,149
Number of Options, Forfeited | shares	(744,372)
Number of Options, Ending of Period | shares	5,052,339		4,021,562
Number of Options, Exercisable | shares	1,206,022
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares	$ 2.06
Weighted -average Exercise Price Per Option, Granted | $ / shares	1.12
Weighted- average Exercise Price Per Option, Forfeited | $ / shares	2.06
Weighted- average Exercise Price Per Option, End of Period | $ / shares	1.77		$ 2.06
Weighted- average Exercise Price Per Option, Exercisable | $ / shares	$ 1.77
Weighted-average fair value of options granted | $	$ 1.3

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Share-based Payment Arrangements - Summary of Options Granted Priced Using Binomial Option Pricing Model (Detail)	6 Months Ended
	Jun. 30, 2022 yr $ / shares
ASLN July 2013
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	1 year
Expected volatility	50.58%
Risk-free interest rate	2.50%
ASLN July 2014
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 1.36
Range of Exercise Price	$ 1.36
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	2 years
Expected volatility	50.86%
Risk-free interest rate	2.58%
ASLN July 2015
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 1.88
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	3 years
Expected volatility	36.37%
Risk-free interest rate	2.43%
ASLN July 2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 2.26
Range of Exercise Price	$ 2.26
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	4 years
Expected volatility	39.34%
Risk-free interest rate	1.46%
ASLN July 2017
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 1.28
Range of Exercise Price	$ 1.28
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	5 years 2 months 12 days
Expected volatility	38.33%
Risk-free interest rate	1.10%
ASLN December 2020
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 2.06
Range of Exercise Price	$ 2.06
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	8 years 6 months
Expected volatility	66.25%
Risk-free interest rate	0.92%
ASLN January to July 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	8 years 8 months 12 days
ASLN January 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 1.12
Range of Exercise Price	$ 1.12
Contractual Life (Years) | yr	10
Weighted-average Remaining Contractual Life (Years)	9 years 6 months
Expected volatility	122.10%
Bottom of Range | ASLN July 2013
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 0.8
Range of Exercise Price	0.8
Bottom of Range | ASLN July 2015
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Range of Exercise Price	1.36
Bottom of Range | ASLN January to July 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	2.35
Range of Exercise Price	$ 2.35
Expected volatility	59.99%
Risk-free interest rate	1.07%
Bottom of Range | ASLN January 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Risk-free interest rate	1.27%
Top of Range | ASLN July 2013
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	$ 1.36
Range of Exercise Price	1.36
Top of Range | ASLN July 2015
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Range of Exercise Price	1.88
Top of Range | ASLN January to July 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant-date share price	4.12
Range of Exercise Price	$ 4.12
Expected volatility	64.92%
Risk-free interest rate	1.69%
Top of Range | ASLN January 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Risk-free interest rate	1.43%

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Share-based Payment Arrangements - Summary of Long Term Incentive Plan (Detail)	6 Months Ended
	Jun. 30, 2022 shares d	Jun. 30, 2021 shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Awards forfeited | d
Long Term Incentive Plan Granted in 2017
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	201,266	215,133
Awards exercised		(13,867)
Ending balance	201,266	201,266
Balance exercisable, end of period	201,266	201,266
Long Term Incentive Plan Granted in 2018
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	132,517	142,445
Awards exercised		(9,928)
Ending balance	132,517	132,517
Balance exercisable, end of period	132,517	89,309
Long Term Incentive Plan Granted in 2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	386,950	386,950
Ending balance	386,950	386,950
Balance exercisable, end of period	257,967	128,983

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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, 2022	Jun. 30, 2021
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Net proceeds/ (repayment)	$ 4,850,993	$ 94,310,794
Lease Liabilities Current
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	199,124	271,624
Interest paid	(3,741)	(13,330)
Net proceeds/ (repayment)	(149,007)	(208,142)
Additions/ (Transfers)		217,827
Interest expense	3,741	13,330
Ending balance	50,117	281,309
Lease Liabilities Non-Current
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance		281,149
Additions/ (Transfers)		(217,827)
Ending balance		63,322
Long-Term Borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	30,857,308	15,183,421
Net proceeds/ (repayment)	5,000,000
Additions/ (Transfers)	(1,044,027)
Others*	(344,266)	(192,177)
Interest expense	1,951,024	223,536
Ending balance	36,420,039	15,214,780
Current Borrowings
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
Current Borrowings From Related Parties
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
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	142,083	735,510
Interest paid	(996,355)	(736,469)
Additions/ (Transfers)	1,044,027
Interest expense	5,556	172,222
Ending balance	$ 195,313	$ 171,263

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Financial Instruments - Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$ 119,351	$ 223,352
Short-term Investments
Financial assets at FVTPL
Short-term investments	16,543,352
Short-term Investments | U.S. government treasuries
Financial assets at FVTPL
Short-term investments	5,009,974
Short-term Investments | Commercial paper
Financial assets at FVTPL
Short-term investments	11,034,759
Short-term Investments | Corporate Bonds
Financial assets at FVTPL
Short-term investments	498,619
Level 1 | Short-term Investments
Financial assets at FVTPL
Short-term investments	5,009,974
Level 1 | Short-term Investments | U.S. government treasuries
Financial assets at FVTPL
Short-term investments	5,009,974
Level 2 | Short-term Investments
Financial assets at FVTPL
Short-term investments	11,533,378
Level 2 | Short-term Investments | Commercial paper
Financial assets at FVTPL
Short-term investments	11,034,759
Level 2 | Short-term Investments | Corporate Bonds
Financial assets at FVTPL
Short-term investments	498,619
Fair Value Measured on Recurring Basis
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	119,351	223,352
Fair Value Measured on Recurring Basis | Level 3
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	$ 119,351	$ 223,352

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Financial Instruments - Additional Information (Detail) - USD ($)			6 Months Ended		12 Months Ended
	Mar. 04, 2021	Feb. 25, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 13, 2021
Disclosure Of Financial Instruments [Line Items]
Transfer between Level 1 and 2, liabilities			$ 0		$ 0
Net Proceeds from offering of shares	$ 69,000,000	$ 18,000,000
Jefferies LLC
Disclosure Of Financial Instruments [Line Items]
Net Proceeds from offering of shares					14,100,000
Proceeds available for sale under ATM Sales Agreement					$ 62,800,000
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
Foreign Currency Risk
Disclosure Of Financial Instruments [Line Items]
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			$ 364,200	$ 153,860
Level 3 | Historical Volatility For Shares Measurement Input
Disclosure Of Financial Instruments [Line Items]
Historical volatility			154.00%		160.30%

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Financial Instruments - Summary of Categories of Financial Instruments (Detail) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Financial assets at FVTPL
Financial assets at amortized cost	$ 61,660,693	$ 91,047,060
Financial liabilities at FVTPL
Derivative financial liabilities – K2 warrants	119,351	223,352
Financial liabilities at amortized cost	47,455,346	$ 36,090,421
Short-term Investments
Financial assets at FVTPL
Short-term investment	16,543,352
Short-term Investments | U.S. government treasuries
Financial assets at FVTPL
Short-term investment	5,009,974
Short-term Investments | Commercial papers
Financial assets at FVTPL
Short-term investment	11,034,759
Short-term Investments | Corporate fixed income
Financial assets at FVTPL
Short-term investment	$ 498,619

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Financial Instruments - Summary of Significant Financial Assets and Liabilities Denominated in Foreign Currencies (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2022 SGD ($)	Dec. 31, 2021 SGD ($)
Disclosure of detailed information about financial instruments [abstract]
Financial assets, Foreign Currencies	$ 1,954,107	$ 837,336
Financial assets, Exchange Rate	0.7189	0.7411
Financial assets, Carrying Amount	$ 1,404,751	$ 620,563
Financial liabilities, Foreign Currencies	$ 15,858,480	$ 15,649,526
Financial liabilities, Exchange Rate	0.7189	0.7411
Financial Liabilities, Carrying Amount	$ 11,400,203	$ 11,598,118

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Financial Instruments - Sensitivity Analysis of Foreign Currency Risk (Detail) - SGD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
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	$ (499,773)	$ (487,150)

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Transactions with Related Parties - Schedule of a Related Party Name and Category (Detail)	6 Months Ended
	Jun. 30, 2022
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

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Transactions with Related Parties - Schedule of Interest Expense from Related Parties (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Transactions Between Related Parties [Line Items]
Interest on loans from related parties	$ 0	$ 50,074
Related Party in Substance / JANK Howden Pty Ltd
Disclosure Of Transactions Between Related Parties [Line Items]
Interest on loans from related parties	0	45,522
Key Management Personnel / Others
Disclosure Of Transactions Between Related Parties [Line Items]
Interest on loans from related parties	$ 0	$ 4,552

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Transactions with Related Parties - Schedule of Key Management Personnel Compensation (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Transactions Between Related Parties [Abstract]
Short-term employee benefits	$ 1,102,592	$ 1,073,166
Post-employment benefits	242,554	58,300
Share-based payments recognized	602,988	765,201
Key management personnel compensation	$ 1,948,134	$ 1,896,667

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Segment Information and Seasonality - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 USD ($) Segment	Jun. 30, 2021 USD ($)
Disclosure Of Operating Segments [Line Items]
Number of reportable segment | Segment	1
Revenue | $	$ 0	$ 0

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Material License Agreements - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Disclosure Of Transactions Between Related Parties [Line Items]
Sales mile stones linled payments estimated	$ 655
Almirall | License Agreements
Disclosure Of Transactions Between Related Parties [Line Items]
Agreement date	Dec. 31, 2015
Agreement amended date	Mar. 31, 2018
CSL Limited | License Agreements
Disclosure Of Transactions Between Related Parties [Line Items]
Regulatory milestones linked payments estimated	$ 95
First Payment	$ 30
CSL Limited | License Agreements | Top of Range
Disclosure Of Transactions Between Related Parties [Line Items]
Percentage of entity's revenue	10.00%

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Other Items/ Subsequent Events - Additional Information (Detail) - 2020 Equity Incentive Plan		12 Months Ended
	Jul. 07, 2022 shares $ / shares	Dec. 31, 2021 shares
Disclosure of non-adjusting events after reporting period [line items]
Option granted | shares	5,055,839	282,000
Modified Share Option Granted Exercise Price | American Depositary Share
Disclosure of non-adjusting events after reporting period [line items]
Exercise price, share options granted | $ / shares	$ 0.52