nect Biopharma (CNTB) - 2025 Q4 - Annual Results

Financial Performance - Connect Biopharma reported a net loss of $15.1 million, or ($0.27) per share, for the three months ended December 31, 2025, compared to a net loss of $8.9 million, or ($0.16) per share, for the same period in 2024[6]. - For the twelve months ended December 31, 2025, the net loss was $55.5 million, or ($1.00) per share, compared to a net loss of $15.6 million, or ($0.28) per share, for the same period in 2024[6]. - License and collaboration revenues for the twelve months ended December 31, 2025, were $64,000, a significant decrease from $26.0 million in 2024[6]. Cash and Financing - Cash, cash equivalents, and short-term investments were $44.3 million as of December 31, 2025, expected to fund operations into the second half of 2027[6]. - The company entered into a securities purchase agreement for $20.2 million equity financing, extending its cash runway into the second half of 2027[1]. Research and Development - Research and development expenses increased to $37.8 million for the twelve months ended December 31, 2025, compared to $29.3 million in 2024, primarily due to rademikibart-related development costs[6]. - Positive topline data from the Phase 1 study of IV rademikibart showed rapid improvement in forced expiratory volume (FEV) in asthma and COPD patients, with mean FEV improvements of ~200 - 400 mL maintained through Day 29[3]. - Rademikibart achieved rapid, durable efficacy results in a Phase 3 study for moderate-to-severe atopic dermatitis, with near-maximal responses in ~90% of patients[5]. - The company is currently recruiting participants for Phase 2 Seabreeze STAT studies for acute exacerbations in asthma and COPD, with topline data expected mid-2026[1]. Partnerships and Milestones - Connect Biopharma is eligible to receive remaining milestone payments up to approximately $110 million under its license agreement with Simcere for rademikibart in Greater China[8]. Investor Relations - Investor Relations contact is Alex Lobo, reachable at (212) 698-8802[18]. - Media inquiries can be directed to Ignacio Guerrero-Ros, Ph.D., or David Schull at Russo Partners, LLC[18].