UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________

FORM 8-K

________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~December~~February 229, ~~2023~~2024

________________________

LIANBIO

(Exact name of registrant as specified in its charter)

________________________


Cayman Islands	001-40947	98-1594670
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


103 Carnegie Center Drive, Suite 309 Princeton, NJ						08540
(Address of principal executive offices)						(Zip Code)

(Registrant’s telephone number, including area code): (609) 486-2308

Not Applicable

(Former name or former address, if changed since last report)

________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange
on which registered

American depositary shares, each representing 1 ordinary share, $0.000017100448 par value per share

LIAN

The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

Item 12.~~01 Entry~~05 ~~into~~Costs aAssociated ~~Material~~with ~~Definitive~~Exit ~~Agreement.~~or Disposal Activities.

On ~~December~~February 2213, ~~2023 (the “Closing Date”)~~2024, LianBio ~~Development~~ (~~HK)~~the ~~Limited (~~“~~LianBio Development~~Company”), aannounced ~~subsidiary~~that ofthe ~~LianBio,~~Company’s ~~Janssen~~Board ~~Pharmaceutica~~of NVDirectors (the “~~Janssen~~Board”), ahad ~~Johnson~~completed &its ~~Johnson~~comprehensive ~~company,~~strategic ~~and,~~review asof ~~applicable,~~the ~~LianBio~~Company ~~entered~~and ~~into~~determined anto ~~Asset~~initiate ~~Purchase Agreement (~~the ~~“APA”).~~wind ~~LianBio~~down ~~Development~~of ~~and~~the ~~LianBio~~Company’s ~~had~~operations, ~~previously~~including ~~entered~~the ~~into~~sale aof ~~License,~~remaining ~~Development~~pipeline ~~and Commercialization Agreement~~assets, ~~dated~~the asdelisting of ~~May~~its ~~11,~~American ~~2021,~~Depositary asShares ~~amended~~(“ADSs”), byeach ~~that~~representing ~~certain~~the ~~Amendment~~right ~~No.~~to 1receive ~~thereto~~one ~~dated~~ordinary ~~March 16~~share, ~~2023~~par value $0.000017100448 (the “~~Lian~~Ordinary ~~LDCA~~Shares”), ~~with~~from ~~Nanobiotix~~the ~~S.A.~~Nasdaq Global Market (“~~Nanobiotix~~Nasdaq”), ~~pursuant~~and toderegistration ~~which~~under ~~Nanobiotix~~Section ~~granted~~12(b) toof ~~LianBio~~the ~~Development~~Securities ~~certain~~Exchange ~~rights~~Act ~~and~~of ~~licenses~~1934 to(the ~~develop~~“Exchange Act”) and ~~commercialize~~workforce ~~NBTXR3,~~reductions. anThe ~~investigational~~Company ~~potential~~currently ~~first-in-class~~anticipates ~~radioenhancer,~~a insubstantial ~~Mainland~~portion ~~China,~~of ~~Hong~~the ~~Kong,~~wind ~~Taiwan,~~down ~~Macau~~activities, ~~South~~including ~~Korea,~~fulfillment ~~Singapore~~of ~~and~~transition ~~Thailand.~~service ~~Under~~obligations ~~the~~under ~~APA,~~its ~~LianBio~~existing ~~Development~~agreements and ~~certain~~gradual cessation of ~~its~~currently ~~affiliates~~active ~~(the~~clinical ~~“Seller~~trials, ~~Entities”)~~ will ~~sell~~be tocompleted ~~Janssen~~by ~~all of~~ the ~~Seller~~end ~~Entities’~~of ~~rights,~~2024. ~~tile~~In ~~and~~parallel ~~interests~~with in the ~~products~~wind ~~licensed~~down toof ~~LianBio~~operations, ~~Development under~~ the ~~Lian~~Board ~~LDCA~~has ~~(the~~declared ~~“Licensed~~a ~~Products”)~~special ~~along~~cash ~~with~~dividend ~~certain~~in ~~related~~the ~~properties~~amount ~~and~~of ~~assets,~~$4.80 ~~and~~per ~~Janssen~~Ordinary ~~will assume certain related liabilities~~Share, ~~each~~including ~~effective~~Ordinary asShares ofrepresented ~~the Closing Date. The transactions contemplated~~ by ~~the~~ADSs, ~~APA~~for ~~and~~an ~~related~~aggregate ~~ancillary~~cash ~~documents~~dividend ~~are~~amount ~~hereinafter~~of ~~referred~~approximately to$528 ~~as the “Transactions~~million.”

~~Pursuant~~In toconnection ~~the~~with ~~APA~~these decisions, ~~LianBio~~on ~~Development~~February ~~will~~9, ~~receive~~2024, the Board approved certain wind down initiatives, including a ~~one~~reduction in force of over 50 full-time ~~payment~~employees, or approximately 50% of ~~$25~~the ~~million.~~Company’s Incurrent ~~addition~~employee base, ~~LianBio~~in ~~Development~~the isfirst ~~eligible~~quarter toof ~~receive~~2024. aAdditional ~~sales~~workforce ~~milestone~~reductions ~~payment~~will occur over the course of $52024 ~~million~~following ~~within~~the 60transition ~~days~~of ~~after~~assets to partners and the ~~end~~fulfillment of the ~~first~~Company’s ~~calendar~~transition ~~year~~services inobligations. ~~which~~The ~~the~~Company ~~aggregate~~will ~~net~~maintain ~~sales~~a core group of ~~the~~employees ~~Licensed~~necessary ~~Products~~to inimplement an orderly wind down of the ~~People’s~~Company ~~Republic~~and support its efforts to maximize the value of ~~China~~the ~~exceed~~Company’s ~~$20~~remaining ~~million~~business and assets.

InThe ~~addition,~~Company ~~LianBio~~expects ~~Development~~that ~~will~~the ~~perform~~full ~~certain~~wind ~~transition~~down ~~activities~~of tooperations, ~~facilitate~~including the ~~transition~~sale of ~~development~~remaining ofassets ~~the~~or ~~Licensed~~termination ~~Products~~of ~~and~~licenses, ~~the~~as ~~related~~well ~~properties~~as ~~and assets, including~~ the ~~transfer~~termination of ~~certain~~employees ~~regulatory~~necessary ~~approvals,~~to ~~filings~~complete ~~and~~an ~~studies~~orderly aswind ~~well~~down, aswill ~~certain~~be ~~ongoing~~substantially ~~regulatory~~complete ~~activities~~by ~~related to~~ the ~~Licensed~~end ~~Products~~of ~~and~~2024, with the ~~related~~complete ~~properties~~dissolution ~~and~~expected ~~assets~~to occur during the ~~transition~~first ~~period,~~half asof ~~applicable~~2027. The ~~transition~~Company ~~activities~~expects ~~are~~to ~~expected~~meet toits beongoing ~~completed~~operational ~~within~~costs ~~six~~through ~~months~~funds ~~following~~retained after the ~~Closing~~special ~~Date~~dividend.

~~Concurrently~~As ~~with~~a ~~the~~result ~~execution~~ of the ~~APA,~~wind ~~LianBio~~down, ~~LianBio~~the ~~Development,~~Company ~~Nanobiotix~~estimates ~~and~~that ~~Janssen~~it ~~entered~~will ~~into~~incur aapproximately ~~Novation~~$17.2 ~~Agreement,~~million ~~dated~~in ascosts ofprimarily ~~December~~related ~~22,~~to ~~2023~~employee severance and, ~~pursuant~~in tosome ~~which~~cases, ~~Nanobiotix~~retention ~~acknowledged~~bonuses. ~~and~~The ~~consented~~Company expects to ~~the~~record ~~Transactions,~~a ~~including~~significant portion of these charges in the ~~novation~~first ~~and~~half ~~assumption~~of or2024. ~~termination~~The estimates of ~~LianBio~~costs ~~Development’s~~that ~~right,~~the ~~title~~Company ~~and~~expects ~~interest~~to inincur and the ~~Lian~~timing ~~LDCA~~thereof are subject to a number of assumptions and ~~any~~actual ~~other~~results ~~contracts~~may ~~which~~differ. ~~Janssen~~The ~~will~~Company ~~assume~~may toalso ~~which~~incur ~~Nanobiotix~~other charges or ~~any~~cash ofexpenditures ~~its~~not ~~affiliates~~currently iscontemplated ain ~~party~~connection with the wind down.

~~The~~Item ~~foregoing~~3.01 ~~description~~Notice of ~~the~~Delisting ~~APA~~or isFailure ~~qualified in its entirety by reference~~ to ~~the~~Satisfy ~~full~~a ~~text~~Continued ofListing ~~the~~Rule ~~APA,~~or aStandard; ~~copy~~Transfer of ~~which LianBio expects to include as an exhibit to a future periodic report, to be filed with the U~~Listing.~~S. Securities and Exchange Commission.~~

The disclosures set forth in Item 12.~~02 Termination~~05 ofabove aare ~~Material~~incorporated ~~Definitive~~by ~~Agreement.~~reference into this Item 3.01.

~~The~~On ~~disclosures~~February ~~regarding~~13, 2024, the ~~Transactions~~Company, ~~set~~pursuant ~~forth~~to inan ~~Item~~authorization 1by the Board, provided notice to Nasdaq that it intends to file a Form 25 with the U.01S. ~~above~~Securities ~~are~~and ~~incorporated~~Exchange byCommission ~~reference~~(the ~~into~~“SEC”) ~~this~~on ~~Item~~or 1about March 8, 2024 to effect the voluntary delisting of the Company’s ADSs from Nasdaq and to deregister the ADSs under Section 12(b) of the Exchange Act.02 As a result, the Company currently expects that the last day of trading on Nasdaq will be on or about March 18, 2024, when Form 25 takes effect. Ninety days thereafter, the deregistration of the Company’s ADSs under Section 12(b) of the Exchange Act is expected to become effective. Following the delisting of the Company’s ADSs from Nasdaq, the Company intends to file a Form 15 with the SEC certifying that it has fewer than 300 shareholders of record, upon which the Company’s filing obligations under the Exchange Act will immediately be suspended, including the obligations to file all periodic reports.

Following the delisting, any trading in the Company’s ADSs would only occur in privately negotiated sales and potentially on an over-the-counter market. The Company expects that its ADSs will be quoted on a market operated by OTC Markets Group Inc. (the “OTC”) so that a trading market may continue to exist for its ADSs. There is no guarantee, however, that a broker will continue to make a market in the ADSs and that trading of the ADSs will continue on an OTC market or otherwise.

Item 7.01 Regulation FD Disclosure

On February 13, 2024, the Company issued the Press Release regarding the proposed wind down and reduction in force, the voluntary delisting and deregistration of its ADSs and the special cash dividend. The Press Release is attached to this Current Report on Form 8-K as Exhibit 99.1.

Item 8.01 Other Events.

The disclosures set forth in Items 2.05 and 3.01 above are incorporated by reference into this Item 8.01.

On February 9, 2024, the Board declared a special cash dividend of $4.80 per Ordinary Share, including Ordinary Shares represented by ADSs, for an aggregate cash dividend amount of approximately $528 million. The special dividend is payable to holders of record of the Company’s Ordinary Shares and ADSs as of the close of business on February 27, 2024. The Company expects to pay the dividend to its holders of record of Ordinary Shares on or about March 11, 2024.

Citibank, the Depositary of the ADSs (the “Depositary”), will coordinate payment of the dividend to the holders of record of the Company’s ADSs, net of applicable Depositary fees of US$0.05 per ADS held and applicable taxes, and expects to pay the dividend on March 14, 2024. The ex-dividend date for the ADSs for the special dividend will be the first trading day following the payment date. Holders of record of ADSs on the record date who sell their ADSs prior to the ex-dividend date will not receive the special dividend.

In connection with the special cash dividend, the Depositary will close the books to ADS issuances and ADS cancellations at the close of business in New York City on February 20, 2024. The Depositary will re-open the books for ADS cancellations at the close of business in New York City on March 18, 2024. The applicable Depositary fees will apply for all ADS issuances and ADS cancellations.

The Company intends to pursue the sale of its remaining pipeline assets as part of the wind down process. To the extent such sales are successful, the Company expects to distribute any profits from the sales to its then-current shareholders in a subsequent distribution before the final dissolution of the Company. However, there is no guarantee that any shareholder’s original investment, or any material amount, will be recovered.

Forward-Looking Statements

Statements in this Current Report on Form 8-K about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements. The words “anticipate,” “expect,” “believe,” “intend,” “continue,” “potential,” “may,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this Current Report on Form 8-K include, but are not limited to, statements concerning the Board’s comprehensive strategic review; the Company’s plans for payment of the special cash dividend, including with respect to timing and the special dividend amount, and the potential for payment of any future dividends upon the culmination of the wind down of the Company’s operations; the Company’s plans with respect to the delisting and deregistration of its securities; the perceived benefits and timing of the wind down; the Company’s ability to pursue the sale of its remaining pipeline assets and termination of its outstanding licenses; the Company’s plans and expected timing with respect to the reduction in workforce; the timeline in which the Company expects to be able to wind down its operations; and the trading of the Company’s ADSs following the voluntary delisting of the ADSs from Nasdaq. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the risk that the delisting, deregistration and wind down process will take longer than expected and that the benefits of such actions may not be realized; general market conditions; the impact of changing laws and regulations and those risks and uncertainties described in LianBio’s filings with the SEC, including LianBio’s Annual Report on Form 10-K for the year ended December 31, 2022 and its subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and LianBio specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Readers should not rely upon this information as current or accurate after its publication date.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits


Exhibit No.						Description

99.1						Press release issued by LianBio, dated February 13, 2024


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 hereunto duly authorized.


			LIANBIO

By:			/s/ Brianne Jahn
			Brianne Jahn
			Chief Business Officer

Date: ~~December~~February 2613, ~~2023~~2024

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