– Announced new data demonstrating a unique mechanism of action supporting the best-in-class potential of rademikibart – – Recruitment ongoing for Phase 1b study of intravenously-administered rademikibart designed to further confirm its unique ability to rapidly improve airway function with topline results expected in first quarter 2026 – – Recruitment ongoing for Phase 2 Seabreeze STAT studies for acute exacerbations in asthma and COPD; expect to report topline data from both studies in mid-2026 – – Stron ...

Corporate Presentation for JPM January 2026 Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the "Act"). Forward-looking statements are statements that are not of historical fact and include, without limitation, statements regarding future events, our future financial condition, results of operations, business strategy and plans, prospective products (as well as their potential to achiev ...

Group 1 - The core viewpoint of the article highlights the financial struggles of Conade Biopharma (CNTB), with a significant decline in revenue and net profit [1] - As of December 15, CNTB's stock opened at $2.5 per share, reflecting a 2.88% increase, with a total market capitalization of $140 million [1] - Financial data indicates that by September 30, 2025, CNTB's total revenue is projected to be $64,000, representing a 99.75% year-over-year decrease [1] Group 2 - The company reported a net loss of $40.37 million, which is a staggering 500.58% decrease compared to the previous year [1] - Conade Biopharma is characterized as a biopharmaceutical company in the clinical stage, focusing on developing innovative therapies through its proprietary T-cell function modulation platform [1] - The company's mission is to improve the quality of life for patients suffering from inflammatory immune diseases [1]

Summary of Connect Biopharma Holdings FY Conference Call Company Overview - Connect Biopharma is focused on developing a next-generation IL-4 receptor alpha monoclonal antibody, retimicavir, designed in their labs outside of Shanghai, China [2][6] - The company aims to address significant unmet needs in asthma and potentially COPD, with a unique mechanism of action and rapid onset of effect [2][3] Core Insights and Arguments - **Market Opportunity**: There are approximately 1 million asthma patients and 1.3 million COPD patients annually seeking urgent care for acute exacerbations, indicating a total addressable market of around 4 million patients [3][15] - **Differentiation from Competitors**: Retimicavir shows a rapid onset of effect within hours, contrasting with existing biologics like Dupixent, which typically take days to weeks to show benefits [3][12] - **Efficacy Data**: In a 24-week chronic asthma study, retimicavir demonstrated an average improvement in airway function of 250-300 ml, with over 400 ml improvement in T2-mediated asthma patients [6][10] - **Safety Profile**: Unlike Dupixent, which has been associated with increased eosinophil levels leading to serious adverse events, retimicavir is expected to decrease eosinophils, presenting a more favorable safety profile [10][12] Clinical Development - **Current Trials**: Two studies are underway targeting acute asthma and COPD exacerbations, each with 160 patients. Data is expected in the first half of next year [21][34] - **Trial Design**: The studies are designed to measure treatment failure rates, with an anticipated 45% failure rate in the control group, aiming for a 50% reduction with retimicavir [23][24] - **Regulatory Pathway**: Following successful phase 2 results, the company plans to engage with the FDA to discuss phase 3 study designs, potentially starting as early as late next year [31][32] Commercial Strategy - **Acute Treatment Focus**: The initial target market is emergency departments and urgent care settings, with a significant opportunity for chronic use following acute treatment [18][19] - **Market Research Insights**: Clinicians believe that successful acute treatment will lead to ongoing chronic use, potentially expanding the market opportunity into the billions [19][34] Additional Considerations - **Collaboration with Chinese Partner**: Retimicavir has been licensed to a large Chinese pharmaceutical company for development in China, which has already filed an NDA for atopic dermatitis and is progressing in asthma studies [6][32] - **Future Indications**: The company is not pursuing atopic dermatitis due to market saturation but sees significant potential in respiratory indications [32] Key Value Drivers - Anticipated data from an IV study aimed at shortening the onset time of retimicavir and pharmacology data supporting its safety and efficacy profile [34]

Core Viewpoint - Connect Biopharma Holdings Limited is participating in the 8th Annual Evercore Healthcare Conference, highlighting its focus on transforming care for inflammatory diseases, particularly asthma and COPD [1][3]. Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company headquartered in San Diego, California, dedicated to developing rademikibart, an antibody targeting IL-4Rα for asthma and COPD treatment [3]. - The company is conducting global clinical studies for rademikibart, addressing significant unmet needs in acute exacerbations of asthma and COPD [3]. - Connect Biopharma has granted an exclusive license for rademikibart to Simcere Pharmaceutical Co., Ltd. in Greater China, with potential milestone payments up to approximately $110 million and tiered royalties on net sales [3]. Event Participation - Company management will engage in a fireside chat at the conference on December 2, 2025, at 10:50 a.m. ET, with a live webcast available on the company's investor website [1][2].

Core Viewpoint - Chinese concept stocks experienced significant gains, with notable increases in share prices for several companies on November 18. Group 1: Stock Performance - CongChain Group (ICG) saw a rise of 32.38%, closing at 1.390, with a trading volume of 2.8959 million [1] - Burning Rock Medical (BNR) increased by 30.15%, closing at 15.280, with a trading volume of 2.4965 million [1] - Intelligent Global Technology (CGT) rose by 20.70%, closing at 0.8086, with a trading volume of 12.696 million [1] - Conade Bio (CNTB) experienced a gain of 17.45%, closing at 2.490, with a trading volume of 5.4173 million [1] - CTRL Group (MCTR) increased by 17.02%, closing at 1.1000, with a trading volume of 0.1421 million [1]

Revenue Performance - License and collaboration revenues for Q3 2025 were $16,000, a significant decrease from $1.2 million in Q3 2024, and for the nine months ended September 30, 2025, revenues were $64,000 compared to $25.3 million for the same period in 2024[106]. Expenses - Research and development expenses for Q3 2025 totaled $11.1 million, up from $9.0 million in Q3 2024, and for the nine months ended September 30, 2025, expenses were $26.5 million compared to $23.0 million in 2024, primarily due to increased costs related to rademikibart development[107]. - General and administrative expenses for Q3 2025 were $6.6 million, compared to $6.1 million in Q3 2024, and for the nine months ended September 30, 2025, expenses were $16.1 million versus $15.1 million in 2024, driven by increased professional fees[108]. Net Loss - The net loss for Q3 2025 was $17.2 million, or $0.31 per share, compared to a net loss of $12.9 million, or $0.23 per share, in Q3 2024; for the nine months ended September 30, 2025, the net loss was $40.4 million, or $0.73 per share, compared to $6.7 million, or $0.12 per share, in 2024[112]. Cash Position - Cash, cash equivalents, and short-term investments as of September 30, 2025, were $54.8 million, which management believes will be sufficient to meet anticipated cash requirements for at least one year[111]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $40.0 million, an increase from $21.3 million in the same period in 2024, primarily due to a higher net loss[113]. - Net cash used in investing activities for the nine months ended September 30, 2025, was $1.2 million, a decrease from net cash provided of $12.3 million in 2024, mainly due to net purchases of short-term investments[114]. Clinical Trials and Development - The company initiated two Phase 2 clinical trials for rademikibart during Q2 2025, with topline data expected in the first half of 2026[100]. Corporate Developments - The company relocated its corporate headquarters in February 2025, with a lease for 6,942 square feet of office space, with annual rent starting at $0.3 million[117]. - The company plans to fund its short-term purchase obligations with current financial resources, which mainly consist of non-cancellable commitments with third-party manufacturers[119]. Capital and Funding Challenges - The company faces challenges in raising capital due to unfavorable global economic and political conditions[124]. - Research and development costs are impacted by supply chain constraints and geopolitical conflicts, potentially stressing working capital resources[125]. - The company may need to delay, reduce, or eliminate research and development programs if capital cannot be raised on attractive terms[125]. Costs and Future Activities - The costs associated with drug discovery, clinical trials, and regulatory reviews are significant and ongoing[124]. - The company is evaluating third-party manufacturers and suppliers, which adds to manufacturing process development costs[124]. - Future activities related to product sales, marketing, and distribution will incur additional costs once marketing approvals are obtained[124]. Intellectual Property and Collaborations - The company is focused on maintaining and enforcing its intellectual property rights, which involves substantial costs[124]. - The success of ongoing collaborations and the ability to establish new ones on favorable terms is critical for future growth[124]. - The company is assessing the terms of current and future license agreements and collaborations[124]. Operational Challenges - The impact of tariffs and shifting U.S. federal government policies may further complicate the company's operational landscape[125].

Financial Performance - License and collaboration revenues for Q3 2025 were $16,000, a decrease of 98.7% compared to $1.2 million in Q3 2024[10] - Net loss for Q3 2025 was $17.2 million, or $0.31 per share, compared to a net loss of $12.9 million, or $0.23 per share, in Q3 2024[14] - Total operating expenses for Q3 2025 were $17.7 million, compared to $15.1 million in Q3 2024, reflecting a 17.4% increase[20] Expenses - Research and development expenses for Q3 2025 were $11.1 million, up 23.3% from $9.0 million in Q3 2024[14] - General and administrative expenses for Q3 2025 were $6.6 million, an increase of 8.7% compared to $6.1 million in Q3 2024[14] Assets and Equity - Total assets as of September 30, 2025, were $67.4 million, down from $101.3 million as of December 31, 2024[22] - Total shareholders' equity decreased to $55.4 million as of September 30, 2025, from $92.2 million at the end of 2024[22] Future Outlook - Cash, cash equivalents, and short-term investments were $54.8 million as of September 30, 2025, expected to fund operations into 2027[10] - The company expects to report topline data from ongoing Phase 2 Seabreeze STAT studies in the first half of 2026[5] - Simcere submitted a New Drug Application for rademikibart for atopic dermatitis, with potential milestone payments of up to $110 million[10]

Core Insights - Connect Biopharma is actively recruiting participants for Phase 2 Seabreeze STAT studies targeting acute exacerbations in asthma and COPD, with topline data expected in the first half of 2026 [1][5] - The New Drug Application (NDA) for rademikibart, aimed at treating atopic dermatitis, has been accepted by China's National Medical Products Administration (NMPA) [1][2] - The company has terminated its American Depositary Receipt (ADR) program and directly listed its ordinary shares on Nasdaq to enhance institutional visibility [1][5] - Positive data presented at the European Respiratory Society (ERS) Congress 2025 indicates rademikibart's potential for differentiated efficacy and safety across various type 2 inflammatory markers [1][5] Development Highlights - Recruitment for the Phase 2 Seabreeze STAT studies for asthma and COPD is ongoing, with topline data anticipated in 1H26 [1][5] - Significant improvements in lung function and asthma control were observed in a global Phase 2 trial of rademikibart, particularly in patients with elevated eosinophil counts and fractional exhaled nitric oxide levels [5] - Simcere Pharmaceutical, Connect's exclusive licensee in Greater China, submitted its NDA for rademikibart for atopic dermatitis in July 2025 [5] - The atopic dermatitis market in China presents a significant opportunity, with an estimated 70 million patients affected [5] Corporate Highlights - Connect Biopharma has completed the termination of its ADR program and directly listed its shares on Nasdaq to eliminate depositary fees and expand its investor base [1][5] - The company is eligible for up to $110 million in milestone payments from Simcere upon achieving specific development and regulatory milestones [5][8] - Connect Biopharma is collaborating with the Jovante Woods Foundation to raise awareness about acute asthma attacks [5] Financial Results - As of September 30, 2025, the company reported cash, cash equivalents, and short-term investments of $54.8 million, expected to fund operations into 2027 [11] - License and collaboration revenues for Q3 2025 were $16,000, a decrease from $1.2 million in Q3 2024, primarily due to the nature of the agreement with Simcere [11][16] - Research and development expenses increased to $11.1 million for Q3 2025, compared to $9.0 million in Q3 2024, driven by costs related to rademikibart development [11][16] - The net loss for Q3 2025 was $17.2 million, or $0.31 per share, compared to a net loss of $12.9 million, or $0.23 per share, in Q3 2024 [11][16]

Core Points - Connect Biopharma is presenting a webinar led by CEO Barry Quart, focusing on the company's operations and future prospects [1] - The company trades on NASDAQ under the ticker symbol CNTB [1] Forward-Looking Statements - The presentation may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, which pertain to future financial and operational results [2] - These statements reflect management's expectations, beliefs, goals, plans, or prospects and are subject to risks and uncertainties [3]