nect Biopharma (US:CNTB) Newsfilterยท2025-03-31 13:00Core Insights - Connect Biopharma has strengthened its leadership team with key appointments, including Barry Quart as CEO and David Szekeres as President, enhancing its clinical, regulatory, operational, and strategic expertise [1][2] - The company has unveiled a rapid clinical development program for rademikibart, targeting acute care in asthma and COPD, with plans to initiate parallel Phase 2 trials in Q2 2025 and data expected in H2 2026 [1][2][3] - Connect Biopharma maintains a strong balance sheet with cash runway projected into 2027, supporting key clinical catalysts [1][6] Clinical Program Highlights - Rademikibart is positioned as an adjunct to standard care for acute asthma and COPD exacerbations, with trials set to begin in Q2 2025 [3][6] - The drug has shown a differentiated clinical profile in Phase 2 trials, achieving rapid improvement in pulmonary function within 24 hours and sustained effects over 24 weeks [2][7] Corporate Developments - The company is becoming more U.S.-centric by assembling a management team with extensive drug development experience and relocating its headquarters to San Diego, California [6] - Connect Biopharma has transitioned to a U.S.-based independent registered accounting firm and plans to file as a domestic filer with the SEC [6] Financial Performance - For the year ended December 31, 2024, Connect Biopharma reported total revenue of $26.0 million, primarily from a license agreement with Simcere Pharmaceutical [6][13] - Research and Development expenses decreased to $29.3 million from $53.0 million in 2023, while General and Administrative expenses increased to $19.2 million from $16.1 million [10][13] - The net loss for 2024 was $15.6 million, or $0.28 per share, compared to a net loss of $62.1 million, or $1.13 per share, in 2023 [10][13]