CNTB Stock — Connect Biopharma Holdings Limited: Cash, EV, Pipeline

Share price

$1.28

Market cap

$80.6M

Cash

$31.5M

Enterprise value

$49.1M

Balance sheet

Cash	$31.5M
Debt	$0.0M
Net cash	$31.5M
Enterprise value	$49.1M
Basic shares	63.0M shares
Fully diluted shares	78.1M shares
Fully diluted market cap	$99.9M
Cash per share	$0.50

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	Rademikibart	Phase 2	Asthma Acute; COPD Exacerbation Acute	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

rademikibart

Phase 2 · Active Modality: antibody

Target IL-4Rα

Partnerships Simcere Pharmaceutical (exclusive Greater China rights; $21M upfront, up to ~$99M remaining milestones, tiered royalties up to low double digits)

Indications

asthma (acute exacerbations, adjunct) (Stage not disclosed)
chronic obstructive pulmonary disease (acute exacerbations, adjunct) (Stage not disclosed)
atopic dermatitis (Greater China) (Stage not disclosed)

Catalysts

— None
— None

Status note Enrollment completed in Phase 2 Seabreeze STAT asthma and COPD studies. Simcere responsible for AD NDA in China and future Greater China studies; Connect completed Greater China AD trials and related analysis.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Rademikibart
Lead indication	Asthma Acute
Lead phase	Phase 2
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07705737	Phase 2	Recruiting	Sponsor	Connect Biopharm LLC	—	Asthma Acute; COPD Exacerbation Acute	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Connect Biopharm LLC on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Ikarian Capital	4,538,534	-849,952	1.77%	2026-08-14
ADAR1 Capital Management	700,000	-42,400	0.08%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

CNTB — Connect Biopharma Holdings Limited