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Connect Biopharma Holdings Limited (Nasdaq: CNTB) is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases. The company is headquartered in Taicang, China, and has a significant presence in San Diego, CA. Connect Biopharma leverages its expertise in T cell biology to develop next-generation immune modulators for treating serious autoimmune diseases and inflammation.
Connect Biopharma's core business revolves around the discovery and development of small molecules and antibodies targeting critical pathways of inflammation. The company has built a robust portfolio of drug candidates, including:
- Rademikibart (CBP-201): An antibody targeting interleukin-4 receptor alpha (IL-4Rα), developed for treating atopic dermatitis (AD) and asthma.
- Icanbelimod (CBP-307): A modulator of S1P1 T cell receptors, designed for the treatment of ulcerative colitis (UC).
- CBP-174: An investigational antagonist of histamine receptor 3, aimed at managing pruritus associated with AD.
Recent achievements include a strategic partnership with Simcere Pharmaceutical Co., Ltd. for the development and commercialization of rademikibart in Greater China. This collaboration includes an upfront payment of ¥150 million RMB (approximately US$21 million) and potential milestone payments up to ¥875 million RMB (approximately US$120 million), along with royalties.
Connect Biopharma’s financial condition is supported by its ongoing clinical trials and strategic partnerships. The company aims to complete rademikibart’s clinical trials for AD in China by the end of Q1 2024, with a new drug application submission planned thereafter.
The company has a deep commitment to leveraging functional T cell assays to screen and discover potent product candidates, aiming to provide innovative treatments for patients suffering from autoimmune and inflammatory diseases worldwide. For more information, visit Connect Biopharma.
Connect Biopharma Holdings (Nasdaq: CNTB), a global clinical-stage biopharmaceutical company, has announced its participation in the Cantor Fitzgerald Global Healthcare Conference 2024. The event will take place from September 17th to 19th in New York, NY. Connect Biopharma's management team will deliver a company presentation on September 19, 2024, at 9:10am ET at the InterContinental New York Barclay Hotel.
The presentation will be accessible via webcast, and the management team will also host one-on-one meetings during the conference. Investors interested in scheduling meetings should contact their Cantor Fitzgerald representative. Connect Biopharma will provide links to access the company presentation on their website's Investor section under Presentations & Events.
Connect Biopharma (CNTB) reported its first half 2024 financial results and provided a business update. Key highlights include:
1. New U.S.-based leadership appointed: Barry Quart as CEO and David Szekeres as President.
2. Evaluating future clinical development strategy for rademikibart.
3. Significantly reducing presence in China as part of U.S.-centric transformation.
4. Cash and cash equivalents of $110.2 million, expected to support operations into at least H1 2027.
5. Revenue of $24.1 million for H1 2024.
6. Net income of $7.6 million for H1 2024, compared to a net loss of $30.5 million in H1 2023.
7. R&D expenses decreased to $13.3 million from $26.6 million in H1 2023.
Connect Biopharma Holdings (Nasdaq: CNTB), a biopharmaceutical company developing T cell-driven therapies for chronic inflammatory diseases, announced its participation in the Leerink Partners Inflammation and Immunology (I&I) and Metabolism Therapeutics Forum. The event is scheduled for July 9-10, 2024, in Boston, MA. Key executives including CEO Barry Quart, President David Szekeres, and CFO Steven Chan will host one-on-one investor meetings.
Connect Biopharma, a clinical-stage biopharma company focused on T cell-driven therapies for chronic inflammatory diseases, announced inducement grants under Nasdaq Listing Rule 5635(c)(4). The company's Board of Directors granted non-qualified stock options to its newly-appointed CEO, Barry Quart, and President, David Szekeres. Effective June 12, 2024, Quart received options for 2,658,734 shares, and Szekeres for 1,772,489 shares, with an exercise price of $1.77 per share. These options vest over four years, with 25% vesting after the first year and the rest monthly thereafter, contingent on continued employment.
Connect Biopharma has announced significant leadership changes. Barry Quart, Pharm.D., is the new CEO, succeeding co-founder Zheng Wei, Ph.D., who will stay on as an advisor and Board member. David Szekeres has been appointed as President, bringing extensive experience from Heron Therapeutics. Kleanthis G. Xanthopoulos, who has been on the Board since 2022, is now the Chairman, succeeding Wubin Pan, Ph.D., M.B.A., who will continue as an advisor.
The leadership reshuffle aims to capitalize on Connect's progress, including Phase 3-ready programs and a promising pipeline. Quart's appointment is expected to accelerate Connect's transition to a late-stage, pre-commercial entity, leveraging his track record of nine FDA-approved drugs and extensive experience in biotech and pharmaceuticals. The company boasts a solid cash runway extending into 2026, positioning it for future growth and shareholder returns.
Connect Biopharma announced positive results from its global Phase 2b trial of rademikibart in patients with moderate-to-severe asthma. Presented at the American Thoracic Society 2024 Conference, the treatment significantly improved lung function and asthma control as early as Week 1, sustained through Week 24. An End-of-Phase 2 meeting with the FDA is scheduled for Q2 2024 to discuss Phase 3 plans. The study showed significant improvements in FEV1 at Week 12 and reduced annualized exacerbations by approximately 50%.
Connect Biopharma Holdings (Nasdaq: CNTB) announced that data from its global Phase 2b trial of rademikibart in patients with moderate-to-severe asthma was accepted as a late-breaking abstract for poster presentation at the upcoming ATS 2024 International Meeting. The presentation will showcase improved lung function and asthma control observed with Rademikibart.
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