Connect Biopharma Holdings Limited - CNTB STOCK NEWS

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.

Connect Biopharma reported positive clinical data for rademikibart in asthma and atopic dermatitis, with plans for FDA meetings in Q2 2024. The company granted exclusive rights to Simcere for development in Greater China, with strong financials supporting operations until at least 2026.

Connect Biopharma Holdings (CNTB) announces participation in H.C. Wainwright conference to discuss therapies for chronic inflammatory diseases.

Connect Biopharma appoints James Huang, a seasoned biotech expert, to its Board of Directors. Huang brings over 30 years of experience in the industry and will play a key role in advancing the company's pipeline of therapies for chronic inflammatory diseases.

Connect Biopharma Holdings Limited (Nasdaq: CNTB) announced positive topline results from the global Phase 2b trial evaluating rademikibart efficacy and safety in adult patients with moderate-to-severe persistent asthma. The trial met its primary endpoint, showing significant improvement in lung function at Week 12 with both doses of rademikibart. The study demonstrated strong and significant improvement in asthma control, with both doses showing early and sustained improvement through Week 24. The safety results suggest rademikibart was generally well tolerated.

Connect Biopharma Holdings Limited (Nasdaq: CNTB) will present top-line data from the global Phase 2b trial evaluating rademikibart’s efficacy and safety in patients with moderate-to-severe asthma on December 12, 2023, before market open. The Company will host a conference call and webcast presentation at 8:30 a.m. ET to discuss the top-line data, featuring Dr. Edward M. Kerwin, MD, Founder and Senior Medical Director of the Clinical Research Institute, Allergy and Asthma Center and Altitude Clinical Consulting.