Connect Biopharma Holdings Limited (CNTB), a clinical-stage biopharmaceutical company, on Tuesday announced its first quarter financial results, and provided updates in the clinical trials for lead drug Rademikibart.
Q1 2026:
The company recorded a net loss of $19.39 million, or $0.34 per share in Q1 2026, while in the same period of 2025 the net loss was $10.27 million, or $0.19 per share.
Connect earned $0.20 million in licensing and collaboration revenues from Simcere, and is eligible for milestone payments up to $110 million on the achievement of certain development, regulatory and commercial milestones.
Research and development expenses (R&D) were $15.03 million, considerably higher than the $6.63 million reported in the previous year.
Cash, cash equivalents, and marketable securities on March 31, 2026, amounted to $46.03 million. The available capital is expected to fund company operations till the second half of 2027.
The company completed a private placement worth $20.20 million in the first quarter.
Pipeline Highlights:
The company is developing Rademikibart, a next-generation monoclonal antibody targeting interleukin-4 receptor alpha (IL-4Ra) to treat Th2 related inflammatory diseases like atomic dermatitis, asthma, and chronic obstructive pulmonary disorder (COPD).
In March 2026, the company reported promising results from the Phase 1 clinical pharmacology study of IV rademikibart in patients with stable asthma or COPD, and the Phase 3 study of rademikibart in treating moderate-to-severe atopic dermatitis.
The Phase 2 Seabreeze STAT trial is an ongoing study to evaluate the safety and treatment of Rademikibart as an adjunct treatment for acute exacerbations of asthma and COPD. Topline data is expected by mid-2026.
CNTB is currently trading at $2.39, up 2.14%.
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