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Connect Biopharma Announces Positive Preliminary Topline Data from its Global Phase 2 Study of Rademikibart as an Add-on Treatment for Acute Exacerbations in Adult and Adolescent Participants with Asthma and Type 2 Inflammation

Phase 2 results for rademikibart in acute asthma exacerbations support advancing toward FDA-aligned Phase 3 development and broader acute care use.

(Very High)
(Neutral)

Connect Biopharma (CNTB) reported positive preliminary topline Phase 2 data for rademikibart as add-on treatment for acute asthma exacerbations with type 2 inflammation.

The randomized, double-blind, placebo-controlled Seabreeze STAT Asthma study enrolled 160 participants, dosed 600 mg subcutaneously plus standard of care versus placebo. Rademikibart achieved a statistically significant improvement in post-bronchodilator FEV1 at Day 7, with a mean increase of 250 mL versus 120 mL on placebo (130 mL difference; p=0.023). Treatment failure over 28 days was reduced by approximately 66% versus placebo (p=0.153), and emergency department or unscheduled medical visits for worsening asthma were reduced by 50%. Rademikibart was well tolerated, with safety comparable to placebo and fewer serious adverse events. Phase 2 COPD data are expected later this month, after which the company plans FDA discussions on a Phase 3 program.

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Positive

  • FEV1 improvement at Day 7: 250 mL with rademikibart vs 120 mL placebo (p=0.023)
  • Treatment failures reduced by approximately 66% over 28 days vs placebo
  • Emergency/unscheduled visits for worsening asthma reduced by 50% vs placebo
  • Safety profile comparable to placebo, with 1 SAE on rademikibart vs 3 on placebo
  • Phase 3 path: company plans FDA discussions after Phase 2 COPD readout later this month

Negative

  • Primary endpoint treatment failure reduction (66%) did not reach statistical significance (p=0.153)
  • Lower-than-projected event rate for treatment failure may complicate interpretation and future trial design
Argus 15 min delay
-38.46% vs previous close $1.06 last price 296.1x rel. volume Open Argus
Details

Market reaction after Phase 2 clinical data: CNTB -38.46%

-44.8% Trough in 3 min
$0.91 $1.85 Day Range
$66.85M Market Cap

Following this news, CNTB has declined 38.46%, reflecting a significant negative market reaction. Argus tracked a trough of -44.8% from its starting point during tracking. Our momentum scanner has triggered 30 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.06. Trading volume is exceptionally heavy at 296.1x the average, suggesting significant selling pressure.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

CNTB had closed down 15.44% before publication, with volume at 2.36x its 20-day average. Against tha...
Analysis

CNTB had closed down 15.44% before publication, with volume at 2.36x its 20-day average. Against that pre-existing position, the Phase 2 readout showed significant Day 7 FEV1 improvement, while the 28-day treatment-failure endpoint missed significance.

Key Figures

Treatment failure reduction: 66% Day 7 FEV1: 250 mL vs. 120 mL FEV1 treatment difference: 130 mL +4 more
Treatment failure reduction
66%
28 days versus placebo; p=0.153
Day 7 FEV1
250 mL vs. 120 mL
Post-bronchodilator change from baseline versus placebo
FEV1 treatment difference
130 mL
Greater improvement than placebo at Day 7; p=0.023
Study enrollment
160 patients
Randomized 1:1 in the Phase 2 asthma study
Rademikibart dose
600 mg
Subcutaneous dose; n=79 versus placebo n=81
Treatment failure p-value
p=0.153
28-day treatment failure endpoint
Serious adverse events
1 vs. 3 SAEs
Rademikibart arm versus placebo arm

Previous Clinical trial Reports

3 past events · Latest: Jun 17
Same Type 3 events
  1. Jun 17

    Phase 2 enrollment

    24h Move
    +4.5%

    Enrollment completed in the same Seabreeze STAT asthma study

  2. Apr 23

    Interim trial review

    24h Move
    -3.1%

    Interim review found no safety concerns and enrollment continued

  3. Mar 30

    Phase 3 clinical data

    24h Move
    -15.9%

    Rademikibart produced positive atopic dermatitis efficacy results

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

fev1, post-bronchodilator, anti-interleukin-4-receptor alpha, sae
4 terms
fev1 medical
"post-bronchodilator (post-BD) forced expiratory volume in one second (FEV1)"
FEV1 stands for forced expiratory volume in one second, a medical measurement of how much air a person can forcibly exhale in one second during a breathing test. Think of it like timing how quickly someone can blow out a candle — it gives a clear snapshot of lung strength and airflow. Investors watch FEV1 because changes in this measure are used to judge whether respiratory drugs or devices work, which affects regulatory approval, market potential, and sales forecasts.
post-bronchodilator medical
"absolute change from baseline in post-bronchodilator (post-BD) forced expiratory volume"
A measurement taken after a patient has been given a bronchodilator medication and allowed time for it to work, most commonly used with lung function tests such as spirometry (for example, FEV1). It shows how much airway narrowing can be reversed by an inhaled drug, and matters to investors because post-bronchodilator results are often used as clinical trial endpoints, diagnostic thresholds, and regulatory evidence for respiratory drug approvals.
anti-interleukin-4-receptor alpha medical
"next-generation, potentially best-in-class anti-interleukin-4-receptor alpha"
A drug described as anti-interleukin-4-receptor alpha is a biologic designed to block a specific immune receptor (IL-4Rα) that helps drive allergic inflammation, so it prevents certain immune signals from triggering asthma, eczema and other allergic conditions. Investors care because clinical trial results, regulatory approval, safety or pricing determine how widely such treatments are adopted and how much revenue they can generate—similar to how a breakthrough engine can change a car maker’s sales prospects.
sae medical
"one serious adverse event (SAE) reported in the rademikibart arm"
A serious adverse event (SAE) is a harmful medical outcome during a clinical trial or treatment that leads to death, a life‑threatening situation, hospitalisation, significant disability, or requires intervention to prevent those results. Investors care because an SAE can trigger regulatory review, pause or change a trial, damage public trust, and materially affect a company’s timelines, costs and stock value—similar to a red flag that can halt a project.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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– Rademikibart meaningfully reduced the rate of treatment failure at 28 days by 66% compared to placebo –

–Rademikibart produced a rapid, statistically significant improvement in lung function at Day 7 compared to placebo –

– Rademikibart was well tolerated in asthma patients experiencing an acute exacerbation with a low incidence of adverse events–

– Data from Seabreeze STAT COPD study of rademikibart will be available later this month after which Connect plans to engage with the U.S. Food and Drug Administration (FDA) to gain alignment on a Phase 3 program –

– Company to host a conference call to discuss the data today, September 15 at 8:00 a.m. ET –

SAN DIEGO, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (Nasdaq: CNTB) (Connect Biopharma, Connect or the Company), a clinical-stage biopharmaceutical company focused on transforming care for the treatment of inflammatory diseases, today announced topline results from its global phase 2 study evaluating rademikibart, the Company’s next-generation, potentially best-in-class anti-interleukin-4-receptor alpha (IL-4Rα) antibody as an add-on treatment for acute exacerbations in adult and adolescent participants with asthma and type 2 inflammation.

“Topline data from our Seabreeze STAT asthma trial for rademikibart supports its potential to meaningfully improve outcomes for patients in the critical period after an exacerbation,” said Barry Quart, Pharm.D., CEO and Director of Connect Biopharma. “Today’s data highlight the statistically significant rapid improvements in FEV1 within one week post treatment as well as a 66% reduction in treatment failures at 28 days, although that endpoint did not reach statistical significance. The overall results of this study provide a clear roadmap for design of a Phase 3 program. Taken together with updated market research showing approximately 1.6M ED visits in 2025 for acute asthma exacerbation by high-T2 patients, we believe these results support the potential of rademikibart to deliver significant patient impact and reduce the health economic burden for patients and hospitals. Looking ahead, we intend to report topline data from our Phase 2 Seabreeze STAT chronic obstructive pulmonary disease (COPD) trial later this month. Following which we plan to engage with the FDA regarding a Phase 3 registrational development program for rademikibart as add-on treatment for acute exacerbations of asthma and COPD.”

“Patients who experience acute exacerbations remain at an elevated risk for subsequent exacerbations and worsening of symptoms despite current standard-of-care,” said Michael Wechsler, MD, Director of the Cohen Family Asthma Institute and Professor of Medicine at National Jewish Health in Denver, Colorado. “66% reduction in treatment failure is an exceptional outcome and is particularly impressive and shows a meaningful improvement over standard-of-care therapy alone. The ability to deliver this magnitude of benefit while also significantly improving lung function underscores the potential of rademikibart to improve outcomes and establish a new treatment paradigm for managing acute exacerbations in the hospital setting.”

The Phase 2 Seabreeze STAT Asthma study (CBP-201-206) is a randomized, double-blind, placebo-controlled study that evaluated the safety and efficacy of rademikibart as an adjunct to standard of care for acute exacerbations in adult and adolescent participants with asthma and type 2 inflammation. The study enrolled 160 patients who were randomized 1:1 to receive either a 600mg dose of rademikibart (n=79) or placebo (n=81), administered subcutaneously in addition to standard of care. The primary endpoint was treatment failure, defined as death due to any cause, (re)admission to a hospital for asthma, emergency department (ED) (re)visit or unscheduled medical visit for worsening of asthma symptoms, or the necessity to intensify pharmacologic treatment within 28 days after randomization. The key secondary endpoint was absolute change from baseline in post-bronchodilator (post-BD) forced expiratory volume in one second (FEV1) at Week 1, which is also the proposed primary endpoint for Phase 3.
Key topline results include:

  • Rademikibart demonstrated a statistically significant increase from baseline in post-bronchodilator FEV1 on Day 7 of 250 mL compared to 120 mL with placebo (130mL greater improvement compared to placebo; p=0.023)
  • Rademikibart reduced the treatment failure rate by approximately 66% over 28 days compared to placebo (p=0.153).
    • The endpoint missed statistical significance due to an overall lower treatment failure rate than projected
  • 50% reduction in emergency department visits or unscheduled medical visits for worsening asthma symptoms compared to placebo
  • Rademikibart was well tolerated and no new safety signals were observed through the end of the study. The safety profile was comparable to placebo, with a low incidence of adverse events (AEs) in both arms, no individual AE occurring in more than 2 participants, no AEs leading to study discontinuation in either arm, and one serious adverse event (SAE) reported in the rademikibart arm compared to 3 SAEs in the placebo arm.

Connect expects to report topline data from the ongoing Phase 2 Seabreeze STAT COPD study (CBP-201-207) of rademikibart for the treatment of acute exacerbations in COPD patients with type 2 inflammation later this month and plans to move quickly to meet with the FDA to gain alignment on a Phase 3 program.

Company-Hosted Conference Call and Webcast

Connect will host a conference call and webcast today, September 15, 2026, at 8:00 a.m. ET. To access the conference call, please pre-register through here to receive dial-in information and a personal PIN to access the live call. Participants may access the live webcast here or from the Investors section of the Connect website at investors.connectbiopharma.com. An archive of the webcast and presentation will be available for approximately 90 days after the event.

About the Seabreeze STAT Asthma Study

Seabreeze STAT Asthma is a Phase 2, randomized, double-blind, placebo-controlled study evaluating the safety and efficacy of rademikibart as an adjunct to standard of care for acute exacerbations in adult and adolescent participants with asthma and type 2 inflammation. The study has enrolled 160 participants globally with an eosinophil count of ≥300 cells/μL who have experienced an acute asthma exacerbation. Participants received either a single dose of rademikibart or placebo, administered subcutaneously. The primary endpoint is treatment failure rate over 28 days following an acute exacerbation. The key secondary endpoint is post-bronchodilator (post-BD) forced expiratory volume in one second (FEV1) at Week 1. Other secondary endpoints include rate and time to new asthma exacerbations, change-from-baseline in asthma symptom score and nocturnal awakenings, post-BD FEV1 at other timepoints, and incidence of adverse events for 8 weeks after dosing. For more information, please visit clinicaltrials.gov (identifier NCT06940141).

About Rademikibart

Rademikibart is a fully human monoclonal antibody targeting interleukin-4 receptor alpha (IL-4Rα), a common subunit of interleukin-4 receptor (IL-4) and interleukin-13 receptor (IL-13). We believe that by binding with IL-4Rα, rademikibart can block the functions of IL-4 and IL-13 effectively, thereby blocking the T helper 2 (Th2) inflammatory pathway to achieving the goal of treating Th2 related inflammatory diseases such as atopic dermatitis, asthma and COPD.

About Connect Biopharma

Connect Biopharma is a clinical-stage biopharmaceutical company dedicated to transforming care for asthma and COPD. Headquartered in San Diego, California, the Company is advancing rademikibart, a next-generation, potentially best-in-class antibody designed to target IL-4Rα. The Company is currently conducting global clinical studies of rademikibart for the treatment of acute exacerbations of asthma and COPD, areas with significant unmet need. Connect has granted an exclusive license to Simcere Pharmaceutical Co., Ltd., for rademikibart in Greater China. Under the exclusive license and collaboration agreement, Connect is eligible to receive remaining milestone payments up to an aggregate amount of approximately $99 million upon the achievement of certain development, regulatory and commercial milestones. Connect is also eligible to receive royalties at tiered percentage rates up to low double-digit percentages on net sales in Greater China.

For more information visit www.connectbiopharma.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not of historical fact and include, without limitation, statements regarding future events, our future financial and operating results and related expectations, business strategy and plans, prospective products (as well as their potential to achieve a differentiated, competitive, or favorable benefit or profile or trend, including on safety, tolerability, improvement, maintenance, clinical response, dosing, efficacy and/or convenience), statements regarding the timing or results of any interim analysis or interim, topline or preliminary data and whether such analysis or data is indicative of safety, efficacy, final trial results or likelihood of regulatory approval for our product candidates, planned or expected meetings with the FDA or any other regulatory authorities, planned or expected product approval applications or approvals, anticipated milestones and milestone payments, expected data readouts and enrollments and the timing thereof, research and development plans and costs, potential future partnerships, expectations about existing partnerships, timing and likelihood of success, objectives of management for future operations, future results of anticipated product development efforts, adequacy of existing cash and potential partnership funding to fund operations and capital expenditure requirements, anticipated patient populations, market opportunities and potential pricing strategies for our prospective products, if approved, our plans for rademikibart, including potential indications, as well as statements regarding industry trends. These statements are based on management’s current expectations of future events only as of the date of this press release and are inherently subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond our control, including, among other things: the ability of our clinical trials to demonstrate safety and efficacy of our product candidates and other positive results; whether we will need expanded or additional trials in order to obtain regulatory approval for our product candidates; the timing and outcome of any meetings with the FDA or other regulatory authorities regarding further development of our product candidates, including with respect to a potential Phase 3 program for rademikibart; our ability to obtain and maintain regulatory approval of our product candidates; existing regulations and regulatory developments in the U.S., the People’s Republic of China, Europe and other jurisdictions; our plans and ability to obtain, maintain, protect and enforce our intellectual property rights and our proprietary technologies, including extensions of existing patent terms where available; our continued reliance on third parties to conduct additional clinical trials of our product candidates, and for the manufacture of our product candidates for preclinical studies and clinical trials; the degree of market acceptance of our product candidates, if approved, by physicians, patients, healthcare payors and others in the medical community; the impact on our business of adverse global macroeconomic and geopolitical conditions, including high interest rates, the inflationary environment, recessionary fears, foreign exchange rate volatility, instability in financial institutions, government shutdowns, changes in monetary policy, changes in trade policies, including tariffs and other trade restrictions or the threat of such actions, and rising geopolitical instability, including the conflicts in the Middle East and the related volatility in the price of oil and other commodity prices; as well as the risks and uncertainties described in Part I, “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2025, our subsequent Quarterly Reports on Form 10-Q and our other filings with the SEC .

Words such as “aim,” “anticipate,” “believe,” “commitments,” “continue,” “could,” “design,” “estimate,” “expect,” “feel,” “goal,” “intend,” “may,” “might,” “objective,” “optimistic,” “plan,” “potential,” “predict,” “promising,” “seek,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. The inclusion of forward-looking statements should not be regarded as a representation by Connect Biopharma that any of its expectations, projections or plans will be achieved. Actual results or outcomes, or the timing of such results or outcomes, may differ materially from those expressed or implied in our forward-looking statements due to the risks and uncertainties described above. These forward-looking statements should not be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such forward-looking statements have been made are correct or exhaustive or, in the case of the assumptions, fully stated herein. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You are cautioned not to place undue reliance on the scientific data presented or these forward-looking statements, which speak only as of the date hereof. Except as required by law, Connect Biopharma undertakes no obligation to publicly update any forward-looking statements, whether because of new information, future events or otherwise.

This press release discusses our product candidate, rademikibart, which is under clinical investigation and has not yet been approved for marketing by the FDA, the NMPA, or by any other regulatory agency. No representation is made as to the safety or effectiveness of rademikibart for the uses for which it is being studied. The trademarks included herein are the property of the owners thereof and are used for reference purposes only.

Investor Relations Contact:

Alex Lobo
Precision AQ
Alex.lobo@precisionaq.com
(212) 698-8802

Media Contact:

Ignacio Guerrero-Ros, Ph.D., or David Schull
Russo Partners, LLC
Ignacio.guerrero-ros@russopartnersllc.com
David.schull@russopartnersllc.com
(858) 717-2310 or (646) 942-5604


FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the design of the Seabreeze STAT Asthma Phase 2 study for rademikibart?

The Phase 2 Seabreeze STAT Asthma study (CBP-201-206) was a randomized, double-blind, placebo-controlled trial evaluating rademikibart as an adjunct to standard of care for acute exacerbations in adult and adolescent participants with asthma and type 2 inflammation. A total of 160 patients were randomized 1:1 to receive either a single 600 mg subcutaneous dose of rademikibart (n=79) or placebo (n=81) in addition to standard of care.

How was treatment failure defined in the rademikibart asthma study?

Treatment failure over 28 days was defined as death from any cause, (re)admission to a hospital for asthma, emergency department (ED) (re)visit or unscheduled medical visit for worsening asthma symptoms, or the need to intensify pharmacologic treatment within 28 days after randomization.

What were the key efficacy endpoints assessed in the Seabreeze STAT Asthma trial?

The primary endpoint was treatment failure within 28 days, as defined by death, hospital (re)admission, ED (re)visit or unscheduled medical visit for worsening asthma, or need to intensify pharmacologic therapy. The key secondary endpoint was absolute change from baseline in post-bronchodilator FEV1 at Week 1 (Day 7), which is also the proposed primary endpoint for the planned Phase 3 program.

What safety findings were reported for rademikibart in the asthma Phase 2 study?

Rademikibart was well tolerated with no new safety signals observed through the end of the study. The safety profile was comparable to placebo, with a low incidence of adverse events in both arms, no individual adverse event occurring in more than two participants, no adverse events leading to study discontinuation, and one serious adverse event (SAE) in the rademikibart arm compared with three SAEs in the placebo arm.

What is the Seabreeze STAT COPD study and when will data be available?

The ongoing Phase 2 Seabreeze STAT COPD study (CBP-201-207) is evaluating rademikibart for the treatment of acute exacerbations in COPD patients with type 2 inflammation. Connect Biopharma expects to report topline data from this COPD trial later this month and then plans to meet with the FDA to gain alignment on a Phase 3 program.

How can investors access Connect Biopharma’s conference call discussing these results?

Connect Biopharma is hosting a conference call and webcast on September 15, 2026, at 8:00 a.m. ET. Participants must pre-register via the provided link to receive dial-in details and a personal PIN. The live webcast can be accessed through a specified link or from the Investors section of the company’s website at investors.connectbiopharma.com. An archive of the webcast and presentation will be available for approximately 90 days after the event.

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