Connect Biopharma Holdings Ltd Stock Price, News & Analysis

Connect Biopharma (NASDAQ: CNTB) has received a deficiency notice from Nasdaq dated March 24, 2025, regarding non-compliance with the minimum bid price requirement. The company's American Depositary Shares (ADSs) have traded below the required $1.00 per share for 30 consecutive business days.

The company has been granted an initial 180-day period until September 22, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days. If unsuccessful, CNTB may be eligible for an additional 180-day compliance period by transferring to the Nasdaq Capital Market and meeting specific listing requirements.

The notice has no immediate impact on CNTB's listing status, and shares continue trading on the Nasdaq Global Market. However, failure to meet compliance requirements could result in delisting, subject to appeal.

Connect Biopharma (Nasdaq: CNTB), a clinical-stage biopharmaceutical company specializing in Asthma and COPD treatments, has announced its participation in two major investor conferences in March 2025.

The company will present at the Leerink Partners Global Biopharma Conference on March 12, 2025, at 1:40 p.m. ET, and the H.C. Wainwright 3rd Annual Autoimmune & Inflammatory Disease Virtual Conference on March 27, 2025, at 2:30 p.m. ET. Both presentations will be in a fireside chat format.

Live webcasts will be available on Connect's investor relations website, with archived replays accessible for approximately 90 days after the events.

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.