Financial Performance - Connect Biopharma reported a net loss of $12.9 million, or $0.23 per share, for the three months ended June 30, 2025, compared to a net income of $14.8 million, or $0.27 per share, for the same period in 2024[7]. - License and collaboration revenues for the three months ended June 30, 2025, were $48,000, a significant decrease from $24.1 million for the same period in 2024[7]. - Total operating expenses for the three months ended June 30, 2025, were $13.5 million, compared to $10.5 million for the same period in 2024[7]. Research and Development - Research and development expenses increased to $8.8 million for the three months ended June 30, 2025, compared to $5.3 million for the same period in 2024, primarily due to costs associated with the Phase 2 clinical trials[7]. - The company is currently recruiting participants for the Phase 2 Seabreeze STAT studies, with topline data expected in the first half of 2026[3]. Cash and Investments - Cash, cash equivalents, and short-term investments were $71.8 million as of June 30, 2025, expected to fund operations into 2027[7]. - Cash, cash equivalents, and short-term investments decreased from $93.708 billion to $71.768 billion, a decline of approximately 23.3%[18]. Assets and Equity - Total assets decreased from $101.284 billion to $82.725 billion, representing a reduction of about 18.4%[18]. - Total shareholders' equity decreased from $92.166 billion to $71.342 billion, a decline of approximately 22.6%[18]. Corporate Developments - Connect Biopharma's exclusive licensee in China, Simcere, submitted a new drug application for rademikibart for atopic dermatitis to the NMPA, with potential milestone payments up to $110 million[5]. - The company plans to terminate its ADR program and directly list ordinary shares on Nasdaq to enhance institutional visibility and reduce fees[5]. - The company appointed Jim Schoeneck to the Board of Directors, bringing expertise in product development and commercialization[7]. General and Administrative Expenses - General and administrative expenses for the three months ended June 30, 2025, were $4.7 million, a decrease from $5.1 million for the same period in 2024[7].

Core Viewpoint - Connect Biopharma Holdings Limited is making significant strides in its clinical and corporate objectives, particularly with its Phase 2 Seabreeze STAT studies for asthma and COPD, and is transitioning to a more U.S.-centric operational model [2][4]. Development Highlights - The Phase 2 Seabreeze STAT studies for asthma and COPD are currently recruiting patients, with topline data expected in the first half of 2026 [5]. - Positive data supporting rademikibart's efficacy and safety were presented at ATS 2025 and EAACI 2025, indicating its potential as a treatment for eosinophilic-driven type 2 asthma and COPD [4][5]. - A new drug application for rademikibart for atopic dermatitis has been submitted to China's NMPA by Simcere, the exclusive licensee in Greater China [4][6]. - The company plans to terminate its ADR program and directly list ordinary shares on Nasdaq to enhance institutional visibility and reduce costs [4][8]. - Jim Schoeneck, an industry veteran, has been appointed to the Board of Directors, bringing expertise in product development and commercialization [4][8]. Financial Results - As of June 30, 2025, the company reported cash, cash equivalents, and short-term investments of $71.8 million, sufficient to fund operations into 2027 [6][18]. - License and collaboration revenues for the three and six months ended June 30, 2025, were $48,000, a significant decrease from $24.1 million in the same periods of 2024 [6][16]. - Research and development expenses increased to $8.8 million for the three months ended June 30, 2025, compared to $5.3 million in 2024, primarily due to costs associated with rademikibart's development [6][16]. - The net loss for the three months ended June 30, 2025, was $12.9 million, or $0.23 per share, compared to a net income of $14.8 million, or $0.27 per share, in the same period of 2024 [6][16].

Group 1 - The top five gainers among Chinese concept stocks include 707 Cayman Holdings with a rise of 41.31%, ATA Creativity Global increasing by 33.36%, and RCON (研控科技) up by 20.35% [1] - 707 Cayman Holdings closed at a price of 5.935, with a gain of 1.735 and a trading volume of 2.7565 million [1] - ATA Creativity Global's latest price is 1.700, showing an increase of 0.425 and a trading volume of 0.8189 million [1] Group 2 - RCON (研控科技) reached a price of 2.720, with a rise of 0.460 and a trading volume of 20.0451 million [1] - 康乃德生物 (CNTB) closed at 2.100, reflecting a gain of 0.350 and a trading volume of 0.5651 million [1] - I-Mab (IMAB) saw its price at 2.030, with an increase of 0.330 and a trading volume of 3.7652 million [1]

Company Overview - Connect Biopharma Holdings Limited Sponsored ADR (CNTB) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3] - The company has a Zacks Rank of 2 (Buy), which is supported by a historical track record of outperforming the market [4] Price Performance - CNTB shares have increased by 29.07% over the past week, significantly outperforming the Zacks Medical - Biomedical and Genetics industry, which rose by 1.8% during the same period [6] - Over the past month, CNTB's price change is 65.09%, compared to the industry's 5.63% [6] - In the last quarter, CNTB shares have surged by 120.96%, and over the past year, they have gained 47.06%, while the S&P 500 has only moved 14.96% and 18.01%, respectively [7] Trading Volume - The average 20-day trading volume for CNTB is 262,215 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, one earnings estimate for CNTB has moved higher, while none have moved lower, resulting in an increase in the consensus estimate from -$1.12 to -$0.90 [10] - For the next fiscal year, one estimate has also moved upwards with no downward revisions during the same period [10] Conclusion - Given the strong price performance, positive earnings outlook, and high Momentum Style Score, CNTB is positioned as a promising investment opportunity [12]

Core Insights - Connect Biopharma has expanded its Board of Directors from six to seven members with the appointment of Jim Schoeneck, who brings over 40 years of experience in drug development and commercialization [1][2][3] Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company focused on transforming care for asthma and chronic obstructive pulmonary disease (COPD) [4] - The company is advancing rademikibart, a next-generation antibody targeting IL-4Rα, currently undergoing global clinical studies for treating acute exacerbations of asthma and COPD [4] Leadership and Expertise - Jim Schoeneck's appointment is expected to enhance the company's strategic and commercial capabilities, particularly in advancing the development and commercialization of rademikibart [2][3] - Schoeneck has held leadership positions in various biotech firms and has a strong background in guiding companies through significant transformations [3] Product Development - Rademikibart is positioned to address the needs of millions of patients with asthma or COPD who experience acute exacerbations annually [2] - The company anticipates clinical data from its Phase 2 Seabreeze STAT studies in the first half of 2026 [2]

Core Viewpoint - Connect Biopharma Holdings Limited plans to terminate its American Depositary Receipt (ADR) program and convert its ADRs into ordinary shares, which will be listed on the Nasdaq Global Market, enhancing institutional visibility and eliminating depositary fees [1][2][4]. Group 1: Termination of ADR Program - The ADR program and the Deposit Agreement are expected to terminate on or about September 2, 2025, with a mandatory cancellation and exchange of ADRs for ordinary shares at a one-for-one ratio [2]. - A termination notice will be issued to ADR owners around August 18, 2025, providing further details on the termination [3]. Group 2: Strategic Implications - The termination of the ADR program is seen as a significant step towards becoming a U.S.-centric company, which is expected to facilitate institutional visibility and strengthen the investor base [4]. - The conversion to ordinary shares is anticipated to eliminate ADR depositary fees, thereby potentially increasing shareholder value [4]. Group 3: Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company focused on developing treatments for asthma and COPD, with its lead product candidate, rademikibart, currently undergoing global clinical studies [5]. - The company has an exclusive collaboration agreement for rademikibart with Simcere in China, indicating its strategic partnerships in key markets [5].

Core Viewpoint - Connect Biopharma Holdings Limited is actively participating in the BTIG Virtual Biotechnology 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 treatments for asthma and COPD [3]. - The company is advancing rademikibart, a next-generation antibody targeting IL-4Rα, currently undergoing global clinical studies for treating acute exacerbations of asthma and COPD [3]. - Connect Biopharma has an exclusive license and collaboration agreement for rademikibart with Simcere in China [3]. Event Details - The management of Connect Biopharma will participate in a fireside chat at the BTIG Virtual Biotechnology Conference on July 29, 2025, at 9:20 a.m. ET [1]. - A live webcast of the event will be available on the company's website, with an archived replay accessible for approximately 90 days post-event [2].

Core Viewpoint - Connect Biopharma has regained compliance with Nasdaq's minimum bid price requirement, allowing its American Depositary Shares to continue trading on the exchange [1][2]. Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company focused on treating inflammatory diseases, particularly asthma and chronic obstructive pulmonary disease (COPD) [3]. - The company is advancing rademikibart, a next-generation antibody targeting IL-4Rα, and is conducting global clinical studies for its treatment of acute exacerbations of asthma and COPD [3]. - Connect Biopharma has an exclusive license and collaboration agreement for rademikibart with Simcere in China [3].

Core Viewpoint - Connect Biopharma's collaborator, Simcere Pharmaceutical, has submitted a New Drug Application for rademikibart to treat atopic dermatitis in China, indicating significant progress in the development of this potential best-in-class therapy for inflammatory diseases [1][2]. Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company focused on developing innovative therapies for inflammatory diseases, with rademikibart as its lead product candidate targeting IL-4Rα [6]. - Simcere Pharmaceutical is an R&D-driven company focusing on therapeutic areas such as neuroscience, anti-oncology, autoimmune, and anti-infection [5]. Product Development - Rademikibart is a fully human monoclonal antibody that targets IL-4Rα, blocking the Th2 inflammatory pathway, which is relevant for treating atopic dermatitis and asthma [4]. - The AD market in China presents a considerable opportunity, with an estimated 70 million patients suffering from the condition [3]. Collaboration Agreement - In 2023, Connect Biopharma and Simcere entered an exclusive license and collaboration agreement for rademikibart in Greater China, granting Simcere exclusive rights for development, manufacturing, and commercialization [2][3]. - Connect Biopharma is eligible for milestone payments totaling approximately $110 million and tiered royalties on net sales in Greater China [3].

Rademikibart Clinical Development and Market Opportunity - Rademikibart shows the largest improvement in FEV observed with a biologic in asthma patients, with a 312 mL increase at 1-week and 420 mL at 24-weeks in patients with baseline eosinophils ≥300 cell/µL[9] - Market research indicates that acute exacerbation indications in asthma and COPD differentiate rademikibart from dupilumab and other biologics, potentially leading to greater chronic use[7, 9] - Projected worldwide peak sales for rademikibart with acute and chronic indications are >$3 billion for asthma and >$2 billion for COPD[7, 9, 25] - Connect has initiated parallel Phase 2 studies in asthma and COPD patients experiencing acute exacerbations, with data expected in 1H2026 and cash runway into 2027[7, 9, 11, 74] Rademikibart Differentiation and Efficacy - Rademikibart is a next-generation anti-IL-4Rα antibody with potential for less frequent dosing, greater sustained efficacy data, and faster onset observed in asthma trials[6, 27] - Home daily lung function data demonstrated 73% of FEV1 improvement seen on Day 7 was observed by Day 1, with 113% by Day 2[41, 42] - In a Phase 2b study, rademikibart significantly improved lung function at Week 12, with enhanced efficacy over placebo in high eosinophil patients (baseline ≥150 cells/µL)[47, 48] - Analysis of COPD-like patients from the global Phase 2b asthma study showed FEV1 change from baseline of 285 mL with Rademikibart 150 mg and 694 mL with Rademikibart 300 mg in all EOS levels[53] Financial Position and Exclusivity - The company has cash, cash equivalents, and short-term investments of $83995000 as of March 31, 2025, expected to support planned operations into 2027[74, 75] - Rademikibart exclusivity extends through at least 2040, supporting substantial growth and value creation[9, 67, 68]