Connect Biopharma Completes Termination of its American Depositary Receipt Program and Directly Lists its Ordinary Shares on Nasdaq

Core Viewpoint - Connect Biopharma has transitioned to a direct listing of its ordinary shares on Nasdaq, marking a strategic shift towards becoming a U.S.-centric company focused on treating inflammatory diseases [1][2][3]. Company Overview - Connect Biopharma is a clinical-stage biopharmaceutical company headquartered in San Diego, California, dedicated to transforming care for asthma and COPD [5]. - The company is advancing rademikibart, a next-generation monoclonal antibody targeting IL-4Rα, which is currently undergoing global clinical studies for treating acute exacerbations of asthma and COPD [5]. Recent Developments - The ADR program and Deposit Agreement were terminated on September 2, 2025, with ADRs being mandatorily cancelled and exchanged for ordinary shares at a one-for-one ratio [2]. - Ordinary shares began trading directly on Nasdaq under the existing symbol "CNTB" [2]. Future Focus - The company aims to execute its Phase 2 Seabreeze STAT studies for rademikibart, which is expected to enhance institutional access with U.S. investors and build long-term shareholder value [3].