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Connect Biopharma's IPO Lock-up Period Ends On Sep. 15

connectbiopharma sep13 lt

The lockup period of Taicang, China-based Connect Biopharma Holdings Ltd. (CNTB) ends on September 15.

Founded in 2012, Connect Biopharma is a clinical-stage biopharmaceutical company developing therapies for the treatment of T cell-driven inflammatory diseases.

The company's lead candidate, CBP-201, is in phase IIb trial for the treatment of moderate-to-severe atopic dermatitis in the US, China, Australia, and New Zealand, with top-line results expected in the fourth quarter of 2021.

CBP-201 is also being explored in other indications like moderate-to-severe persistent asthma and chronic rhinosinusitis.

A global phase II clinical trial evaluating CBP-201 in adults with moderate-to-severe persistent asthma was initiated as recently as May of this year.

A phase II trial of CBP-201 in adult patients with chronic rhinosinusitis with nasal polyps was initiated early this month.

A pivotal trial evaluating CBP-201 in adults with moderate-to-severe atopic dermatitis, specific to China, was initiated early this month.

The other drug candidates in clinical development include CBP-307 and CBP-174.

CBP-307 is in phase IIb trial for the treatment of ulcerative colitis, and the top-line results are expected in the first quarter of 2022.

CBP-174, for chronic inflammatory pruritus, is in phase I dose escalation study in healthy adults and top-line results are anticipated in the second half of 2021.

The company made its debut on the Nasdaq Global Select Market on March 19, 2021, offering its ADSs at a price of $17 each and as mentioned above, the 180 day lockup period expires on September 15.

CNTB opened the first day of trading on March 19 at $19.55 and closed at $18.49 that day. The stock has thus far hit a low of $14.02 and a high of $29.27.

CNTB closed Monday's trading at $22.14, down 0.67%.

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