Strengthened leadership team with key appointments, including Barry Quart, Pharm.D. as CEO, and David Szekeres as President, bringing deep clinical, regulatory, operational and strategic expertise Unveiled rapid clinical development program for rademikibart initially targeting acute care in asthma and COPD; expect to initiate parallel Phase 2 trials in 2Q 2025 with data expected in 2H 2026 Strong balance sheet with cash runway into 2027 and through key clinical catalysts SAN DIEGO, March 31, 2025 (GLOBE NEW ...

Core Viewpoint - Connect Biopharma Holdings Limited has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement for its American Depositary Shares (ADSs), which have been trading below $1.00 for the last 30 consecutive business days [1][2]. Compliance and Listing Status - The company has been granted an initial compliance period of 180 calendar days, until September 22, 2025, to regain compliance by having its ADSs close at or above $1.00 for at least ten consecutive business days [2]. - The Nasdaq letter does not have an immediate effect on the trading of the company's ADSs, which will continue to trade under the symbol "CNTB" [2]. - If compliance is not regained by the deadline, the company may be eligible for an additional 180-day compliance period, contingent upon transferring to the Nasdaq Capital Market and meeting other listing requirements [3]. Company Overview and Product Development - Connect Biopharma is focused on developing treatments for asthma and chronic obstructive pulmonary disease (COPD), with its lead product candidate being rademikibart, an anti-interleukin-4-receptor alpha (IL-4Rα) antibody [4]. - Rademikibart has shown promising results in a Phase 2 trial for asthma, demonstrating significant efficacy and safety, including rapid improvements in forced expiratory volume [4].

Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company based in San Diego, California, focusing on transforming care in Asthma and Chronic Obstructive Pulmonary Disease (COPD) [3] - The company is advancing Rademikibart™, a next-generation anti-interleukin-4-receptor alpha (IL-4Rα) antibody, which aims to address acute indications in asthma and COPD [3] Upcoming Conferences - Company management will participate in the Leerink Partners Global Biopharma Conference on March 12, 2025, at 1:40 p.m. ET [1] - The company will also be present at the H.C. Wainwright 3rd Annual Autoimmune & Inflammatory Disease Virtual Conference on March 27, 2025, at 2:30 p.m. ET [2] - Live webcasts for these events will be available on Connect's website, with archived replays accessible for approximately 90 days post-event [2] Market Opportunity - Rademikibart targets approximately 1 million asthma and 1.3 million COPD patients in the U.S. who experience acute exacerbations annually, representing a significant untapped market [3] - The drug has shown promising efficacy and safety in Phase 2 studies, with a rapid onset of action observed as early as 24 hours [3]

Company Overview - Attovia Therapeutics has appointed Steven Chan as Chief Financial Officer, bringing over thirty years of financial leadership experience across various sectors including biotechnology and healthcare [1][2] - The company focuses on developing a pipeline of biotherapeutics for immune-mediated diseases using its proprietary ATTOBODY™ platform [3] Leadership and Strategy - Steven Chan's previous experience includes serving as CFO at Connect Biopharma and Delphon Industries, as well as holding financial leadership roles at several publicly traded companies [2] - CEO Tao Fu emphasized that Chan's track record in private-to-public transitions and public-stage companies is crucial for Attovia's expansion and corporate strategy [2] Technology and Innovation - Attovia's ATTOBODY™ platform enables the creation of bispecific and multispecific therapeutics with high potency and tunable half-lives, potentially allowing for less frequent dosing [3] - The platform utilizes spatial positioning technology for biparatopic target engagement, achieving picomolar affinity and glue-like off-rates, which enhances the biologic activity of the therapeutics [3]

Company Overview - Concordia Biotech (CNTB) experienced a stock price increase of 5.48%, currently priced at $1.49 per share with a trading volume of 16,435 shares and a turnover rate of 0.03% [1] - The company reported a revenue of $24.12 million and a net profit of $7.65 million, with earnings per share at $0.14 and a gross profit of $23.64 million [1] - The price-to-earnings ratio for Concordia Biotech is -3.78, indicating a negative earnings situation [1] Institutional Ratings - One institution has rated Concordia Biotech's stock, with 100% recommending a buy and none suggesting hold or sell [1] Industry Performance - The biotechnology sector overall saw a decline of 0.96%, but certain stocks like Tevogen Bio Holdings Inc, Tc Biopharm (Holdings) Plc, and Geovax Labs Inc showed strong performance [2] - Active stocks in the sector included Aditxt, Inc., Windtree Therapeutics, Inc., and Tc Biopharm (Holdings) Plc, with turnover rates of 1108.86%, 55.62%, and 51.27% respectively [2] - Highly volatile stocks included Pasithea Therapeutics Corp, Apollomics Inc, and Aditxt, Inc., with amplitudes of 145.55%, 60.44%, and 51.53% respectively [2] Company Focus - Concordia Biotech is a clinical-stage company focused on developing next-generation immunomodulators for severe autoimmune diseases and inflammation [2] - The company's pipeline includes products CBP-201, CBP-307, and CBP-174, leveraging expertise in T cell regulatory biology [2]

Core Insights - Connect Biopharma is transitioning to a U.S.-centric company, appointing Barry Quart as CEO and David Szekeres as President, while significantly reducing its operations in China [1][2][3] - The company has received positive feedback from the FDA regarding its lead product candidate, rademikibart, for potential Phase 3 trials in asthma and atopic dermatitis [4] - Financial results indicate a revenue of $24.1 million for the first half of 2024, with a net income of $7.6 million, a significant improvement from a net loss of $30.5 million in the same period of 2023 [6][8] Leadership and Management Changes - Barry Quart, Pharm.D., has been appointed as CEO, bringing over 30 years of experience in biotechnology and pharmaceutical leadership [3] - David Szekeres has been appointed as President, contributing his expertise in life sciences [3] - Kleanthis G. Xanthopoulos, Ph.D., was appointed as Chairperson of the Board in June 2024 [3] Clinical Development and Programs - The company is evaluating the future clinical development strategy for rademikibart, considering advancing it into Phase 3 trials [1][4] - Simcere Pharmaceutical Co., Ltd. has initiated Phase 3 trials for rademikibart in China for moderate-to-severe atopic dermatitis and asthma [4] - Positive results from the global Phase 2b trial of rademikibart were presented at the American Thoracic Society 2024 International Conference [4] Financial Performance - Cash, cash equivalents, and short-term investments totaled $110.2 million as of June 30, 2024, down from $118.7 million at the end of 2023 [6][9] - R&D expenses decreased to $13.3 million in the first half of 2024 from $26.6 million in the same period of 2023, primarily due to fewer clinical trials and reduced personnel costs [6][8] - Administrative expenses increased slightly to $8.3 million in the first half of 2024, attributed to severance costs related to workforce reductions [6][8] Corporate Strategy and Transformation - The company has completed a technology transfer for rademikibart's manufacturing process to a U.S.-based contract manufacturer, aiming to reduce manufacturing costs [5] - As part of its transformation, Connect has reduced its workforce in China by approximately 15% over the past year, with further reductions expected [5]

Group 1 - Connect Biopharma Holdings Limited is a U.S.-headquartered global clinical-stage biopharmaceutical company focused on developing therapies for chronic inflammatory diseases through T cell-driven research [1][2] - The company is hosting one-on-one investor meetings at the Leerink Partners Inflammation and Immunology and Metabolism Therapeutics Forum on July 9-10, 2024, in Boston, MA [1] - Connect Biopharma is developing a pipeline of proprietary small molecules and antibodies, with its lead product candidate rademikibart targeting interleukin-4 receptor alpha for atopic dermatitis and asthma [2] Group 2 - The second product candidate, icanbelimod, is a modulator of S1P1 T cell receptors in development for ulcerative colitis [2] - The company's goal is to improve the lives of millions affected by chronic inflammatory diseases worldwide [2]

Company Overview - Connect Biopharma Holdings Limited is a global clinical-stage biopharmaceutical company focused on developing therapies for chronic inflammatory diseases through T cell-driven research [2] - The company aims to improve the lives of millions affected by these diseases by building a pipeline of proprietary small molecules and antibodies [2] Recent Developments - The Board of Directors granted non-qualified stock option awards to the newly-appointed CEO Barry Quart and President David Szekeres, totaling 2,658,734 and 1,772,489 ordinary shares respectively [1] - The options have an exercise price of $1.77 per share, which is the closing price on the grant date, and will vest over four years [1] Product Pipeline - The lead product candidate, rademikibart, targets interleukin-4 receptor alpha (IL-4Rα) and is in development for atopic dermatitis and asthma [2] - The second product candidate, icanbelimod, modulates S1P1 T cell receptors and is being developed for ulcerative colitis [2]

Leadership Changes - Barry Quart, Pharm.D. has been appointed as the new Chief Executive Officer (CEO) of Connect Biopharma, succeeding Zheng Wei, Ph.D., who will remain on the Board of Directors as an advisor [1][3] - David Szekeres has been appointed as President, bringing extensive experience in life sciences [1][5] - Kleanthis G. Xanthopoulos, Ph.D. has been appointed as the Chair of the Board of Directors, succeeding Wubin (Bill) Pan, Ph.D., M.B.A., who will also serve as an advisor during the transition [1][2] Company Vision and Strategy - The company aims to improve the lives of patients with chronic inflammatory diseases through T cell-driven research and innovative therapies [1][7] - The lead product candidate, rademikibart, is designed to target interleukin-4 receptor alpha (IL-4Rα) for the treatment of atopic dermatitis and asthma, establishing Connect as a late-stage company entering its pre-commercial phase [3][7] - The company has a cash runway extending into at least 2026, positioning it well for future growth and shareholder returns [4] Leadership Experience - Barry Quart brings over 30 years of experience in biotechnology and pharmaceuticals, having led multiple companies through late-stage clinical development and regulatory strategy, with nine FDA-approved drugs to his credit [3][4] - David Szekeres has a proven track record in operational, commercial, and corporate development roles, previously serving as Executive Vice President and COO at Heron Therapeutics [5][6]

Leadership Changes - Barry Quart, Pharm.D. has been appointed as the new Chief Executive Officer (CEO) of Connect Biopharma, succeeding Zheng Wei, Ph.D., who will remain on the Board of Directors as an advisor [1][3] - David Szekeres has been appointed as President, bringing extensive experience in life sciences [1][5] - Kleanthis G. Xanthopoulos, Ph.D. has been appointed as the Chair of the Board of Directors, succeeding Wubin (Bill) Pan, Ph.D., M.B.A., who will also serve as an advisor during the transition [2][3] Company Vision and Strategy - The company aims to improve the lives of patients with chronic inflammatory diseases through T cell-driven research and innovative therapies [1][7] - The lead product candidate, rademikibart, is designed to target interleukin-4 receptor alpha (IL-4Rα) for the treatment of atopic dermatitis and asthma, establishing Connect as a late-stage company entering its pre-commercial phase [3][7] - The company has a cash runway extending into at least 2026, positioning it well for future growth and shareholder returns [4] Leadership Experience - Barry Quart brings over 30 years of experience in biotechnology and pharmaceuticals, having led multiple companies through late-stage clinical development and regulatory strategy, with nine FDA-approved drugs to his credit [3][4] - David Szekeres has a proven track record in operational, commercial, and corporate development roles, previously serving as Executive Vice President and COO at Heron Therapeutics [5][6]