Connect Biopharma Holdings Ltd Stock Price, News & Analysis

Connect Biopharma (Nasdaq: CNTB) has initiated a pivotal trial in China for its drug CBP-201, targeting adults with moderate-to-severe atopic dermatitis. This multicenter, randomized trial will evaluate CBP-201's efficacy and safety, enrolling approximately 255 patients across 55 clinical sites. The trial involves a 16-week treatment phase followed by a 36-week maintenance period. Atopic dermatitis is increasingly prevalent in China, highlighting the need for effective treatments. Success in this trial could expedite patient access to CBP-201.

Connect Biopharma reported a net loss of RMB 942.5 million (USD 145.9 million) for H1 2021, a significant increase from RMB 75.2 million in the same period last year. The company completed its IPO in March 2021, raising approximately USD 204.5 million, boosting cash to RMB 2,025 million (USD 313.5 million). Key milestones include the completion of Phase 2 trials for CBP-201 in atopic dermatitis and asthma, with top-line data expected in Q4 2021. R&D expenses surged to RMB 217.8 million (USD 33.7 million), driven by increased clinical and personnel costs.

Connect Biopharma (Nasdaq: CNTB) announced it will report financial results for H1 ended June 30, 2021 after market close on August 31, 2021. A webcast and conference call to discuss the results will take place on September 1, 2021, at 8:30 am ET. The company is advancing therapies for chronic inflammatory diseases through T cell research. Their lead product candidates include CBP-201 for atopic dermatitis and asthma, and CBP-307 for ulcerative colitis and Crohn’s disease. For more details, refer to their website.

Connect Biopharma (Nasdaq: CNTB) has appointed Jiang Bian as General Counsel & Chief Compliance Officer, effective August 20, 2021. Bian brings extensive experience from Guardant Health and Pieris Pharmaceuticals, focusing on legal issues in healthcare and biopharma. Additionally, Jean Liu has joined the Board of Directors as an Independent Director, contributing over 20 years of biotech experience. These appointments aim to strengthen executive leadership and support Connect Biopharma's growth strategy, particularly in developing therapies for chronic inflammatory diseases.

Connect Biopharma (Nasdaq: CNTB) announced that Dr. Zheng Wei, Co-Founder & CEO, will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 10:00 am ET. The event aims to discuss the company's advancements in therapies for chronic inflammatory diseases, including their lead products CBP-201 and CBP-307. A live webcast can be accessed on Connect Biopharma's Investor Relations page, with a replay available post-event. The company is dedicated to innovative T cell-driven research.

Connect Biopharma (Nasdaq: CNTB) has announced the first dosing of a subject in a Phase I clinical trial for CBP-174, a novel oral treatment for chronic inflammatory pruritus. This double-blind, placebo-controlled trial aims to assess safety, tolerability, and pharmacokinetics of CBP-174, targeting patients suffering from chronic itch, particularly those with atopic dermatitis. The trial follows promising preclinical results showing rapid relief from itching. CEO Zheng Wei emphasized the importance of addressing unmet needs in pruritus management, highlighting CBP-174's potential to complement existing therapies.

Connect Biopharma (Nasdaq: CNTB) announced the initiation of a Phase 2 trial for CBP-201, targeting adults with moderate-to-severe persistent asthma. The trial aims to enroll about 300 patients across 80 sites globally, assessing the efficacy and safety of two SC doses of CBP-201. This treatment blocks IL-4 receptor alpha to mitigate allergic inflammation. CEO Zheng Wei emphasized the potential of CBP-201 to address significant unmet medical needs in asthma patients.

Connect Biopharma Holdings Limited (Nasdaq: CNTB) has completed full enrollment for its phase 2 clinical trial of CBP-201, targeting adult patients with moderate-to-severe Atopic Dermatitis (AD). The trial aims to assess CBP-201's safety, efficacy, and pharmacokinetics over 16 weeks, involving 220 participants across 60 sites globally. CEO Zheng Wei expressed optimism for the trial results, expected later this year, highlighting the unmet needs in treating AD. CBP-201 has shown favorable outcomes in earlier trials, indicating potential for a differentiated profile compared to existing therapies.

Connect Biopharma Holdings Limited (Nasdaq: CNTB) has successfully closed its initial public offering of 12,937,500 American Depositary Shares (ADSs) at a price of $17.00 per ADS, raising approximately $219.9 million in gross proceeds. This offering included the full exercise of an underwriters’ option for an additional 1,687,500 ADSs. The ADSs commenced trading on March 19, 2021, on the Nasdaq Global Market. The company is focused on developing therapies for chronic inflammatory diseases, with lead candidates including CBP-201 and CBP-307.