Summary by Moomoo AI
Apollomics Inc., a biopharmaceutical company, has responded to a comment from the SEC regarding its operations in China. The SEC's Division of Corporation Finance had requested clarification on the extent of Apollomics' operations in China, citing the need for specific disclosures about the risks associated with China-based companies. In a letter dated April 12, 2024, Apollomics clarified that it does not conduct the majority of its operations in China, stating that it is a Cayman Islands holding company with its business headquarters and management team based in California, USA. The company conducts most of its research and development efforts outside of China, with less than 20% of these activities taking place in Hong Kong and mainland China through its subsidiaries. Apollomics also highlighted that the majority of its cash and expenditures are held and incurred outside of China. This response follows the SEC's guidance on China-specific disclosures and addresses issues previously raised in a December 2021 letter.