Connect Biopharma Holdings Ltd
CNTB evidence brief
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What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · CNTB
Connect Biopharma Holdings Ltd is a global clinical-stage biopharmaceutical company developing therapies for T cell-driven inflammatory diseases, with lead product candidate rademikibart targeting interleukin-4 receptor alpha for conditions such as atopic dermatitis and asthma.
Key risk: Need for additional capital
BioSniper Score
Based on 6 of 6 signals
Market Cap
$140.4M
Cash Runway
6.3 moLead Asset
rademikibart (Phase 2)Next Catalyst
Phase2_Topline · Sep 1, 2026Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 3 clinical trials · 1 catalyst for Connect Biopharma Holdings Ltd.
Connect Biopharma Holdings Ltd is a global clinical-stage biopharmaceutical company developing therapies for T cell-driven inflammatory diseases, with lead product candidate rademikibart targeting interleukin-4 receptor alpha for conditions such as atopic dermatitis and asthma.
- Global clinical-stage biopharmaceutical company focused on T cell-driven inflammatory diseases [sec · filed 2024-09-05].
- Lead product candidate rademikibart (formerly CBP-201) is an antibody targeting interleukin-4 receptor alpha for inflammatory diseases like atopic dermatitis and asthma [sec · filed 2024-09-05].
- Cash and equivalents of $27.0M as of 2026-06-30 [sec].
- Net loss of $17.3M for the six months ended 2026-06-30 [sec].
- Accumulated losses of approximately $531.7M as of June 30, 2024 [sec · filed 2024-09-05].
What works
- Lead candidate rademikibart targets a validated biological target (IL-4 receptor alpha) for inflammatory diseases, with potential in atopic dermatitis and asthma [sec · filed 2024-09-05].
- Company has a pipeline of internally designed, wholly owned small molecules and antibodies, indicating proprietary discovery capabilities [sec · filed 2024-09-05].
- Core expertise in functional cellular assays with T cells provides a differentiated approach to screening and discovering product candidates [sec · filed 2024-09-05].
What to weigh
- Company has incurred significant operating losses since inception, with accumulated losses of approximately $531.7M as of June 30, 2024 [sec · filed 2024-09-05].
- Existing capital of $27.0M as of 2026-06-30 is not sufficient to fund product candidates through regulatory approval, requiring additional financing [sec · filed 2024-04-16].
- Only two product candidates (rademikibart and icanbelimod) are in clinical development, with no guarantee of successful development or commercialization [sec · filed 2024-04-16].
- Negative operating cash flows since inception and expectation of continued significant expenses for R&D and regulatory activities [sec · filed 2024-09-05].
From the filings
Quoted directly from source documents.
Company is a global clinical-stage biopharmaceutical company developing therapies for T cell-driven inflammatory diseases.
“We are a global clinical-stage biopharmaceutical company developing therapies for the treatment of T cell-driven inflammatory diseases.”
SEC filings · September 5, 2024
Lead product candidate rademikibart targets interleukin-4 receptor alpha.
“Our lead product candidate, rademikibart (formerly CBP-201), is an antibody designed to target interleukin-4 receptor alpha, which is a validated target for the treatment of inflammatory diseases such as atopic dermatitis ("AD") and asthma.”
SEC filings · September 5, 2024
Company has accumulated losses of approximately $531.7 million as of June 30, 2024.
“As of June 30, 2024, we had accumulated losses of approximately US$531.7 million.”
SEC filings · September 5, 2024
Existing capital is not sufficient to fund product candidates through regulatory approval.
“Our existing capital will not be sufficient for us to fund our product candidates through regulatory approval, and we will need to raise additional capital to complete their development and commercialization.”
SEC filings · April 16, 2024
Catalyst timeline
- 2026-09-01 · Phase2_Topline · rademikibart — Phase 2 Readout: rademikibart — Topline data from the Phase 2 trial of rademikibart will be released, providing key efficacy and safety information.
Risks & what to watch (4)›
Key risks
- Need for additional capital — Existing capital of $27.0M as of 2026-06-30 is insufficient to fund product candidates through regulatory approval [sec · filed 2024-04-16].
- History of operating losses — Accumulated losses of approximately $531.7M as of June 30, 2024, with continued losses expected [sec · filed 2024-09-05].
- Limited clinical pipeline — Only two product candidates in clinical development; no guarantee of successful development or commercialization [sec · filed 2024-04-16].
- Regulatory approval uncertainty — No assurance of accelerated approval or any regulatory approval for product candidates [sec · filed 2024-04-16].
What to watch
- Phase 2 topline data for rademikibart expected on 2026-09-01 [upcoming catalysts].
- Ability to raise additional capital to fund ongoing and planned clinical trials [sec · filed 2024-04-16].
- Progress of rademikibart and icanbelimod through clinical development and regulatory interactions [sec · filed 2024-09-05].
Sources: SEC filings · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
6.3 months
D/E 0.62 · 0% dilution
Lead: Phase 2
1 candidate
1 upcoming, next in ~2d
2 buys · 0 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
36
Total value held
$18.4M
| Holder | Shares | Value |
|---|---|---|
| perceptive advisors llc | 1,585,392 | $4.2M |
| boothbay fund management, llc | 1,271,582 | $3.3M |
| 683 capital management, llc | 900,000 | $2.4M |
| adar1 capital management, llc | 742,400 | $1.9M |
| millennium management llc | 474,601 | $1.2M |
| knott david m jr | 387,835 | $1.0M |
| susquehanna international group, llp | 324,108 | $849K |
| propel bio management, llc | 209,493 | $554K |
| diadema partners lp | 200,690 | $526K |
| burkehill global management, lp | 150,000 | $360K |
Showing top 10 of 36 institutional holders of Connect Biopharma Holdings Ltd. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 3.0%
- Days to cover
- 2.8
- Shares short
- 1,134,300
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CNTB short interestFrequently asked questions
What is the AI investment thesis for Connect Biopharma Holdings Ltd?
Connect Biopharma Holdings Ltd is a global clinical-stage biopharmaceutical company developing therapies for T cell-driven inflammatory diseases, with lead product candidate rademikibart targeting interleukin-4 receptor alpha for conditions such as atopic dermatitis and asthma.
What is Connect Biopharma Holdings Ltd's lead drug candidate?
Connect Biopharma Holdings Ltd's most advanced tracked candidate is rademikibart (Phase 2) for Asthma Acute.
What is Connect Biopharma Holdings Ltd's next catalyst?
Connect Biopharma Holdings Ltd's next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: rademikibart" — expected September 1, 2026.
Who is the CEO of Connect Biopharma Holdings Ltd?
Dr. Barry David Quart Pharm.D. is the chief executive officer of Connect Biopharma Holdings Ltd (CNTB).
Where is Connect Biopharma Holdings Ltd headquartered?
Connect Biopharma Holdings Ltd (CNTB) is headquartered in San Diego, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.