Contineum Therapeutics, Inc.
CTNM evidence brief
What we can confirm
- BioSniper Score:
- 5.1 / 10
- Market Cap:
- $551.5M
- Lead Asset:
- PIPE-307 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for CTNM—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CTNM
Contineum Therapeutics (CTNM) is a clinical-stage biopharmaceutical company developing small molecule therapies for inflammatory, fibrotic, and neuroscience indications, with a lead program in chronic pain and a recent Phase 2 miss in major depressive disorder.
Key risk: Phase 2 failure in MDD
BioSniper Score
Based on 4 of 6 signals
Market Cap
$551.5M
Cash Runway
—
Lead Asset
PIPE-307 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 2 clinical trials for Contineum Therapeutics, Inc..
Contineum Therapeutics (CTNM) is a clinical-stage biopharmaceutical company developing small molecule therapies for inflammatory, fibrotic, and neuroscience indications, with a lead program in chronic pain and a recent Phase 2 miss in major depressive disorder.
- Cash & equivalents of $14.7M as of 2026-06-30 [sec]
- Net income of -$15.2M for the period ending 2026-06-30 [sec]
- Shareholders' equity of $239.7M as of 2026-06-30 [sec]
- PIPE-791 Phase 1b chronic pain trial met primary endpoint with at least 30% pain reduction [news · 2026-04-30]
- PIPE-307 Phase 2 MOONLIGHT-1 trial in major depressive disorder did not achieve its primary efficacy endpoint [news · 2026-09-14]
What works
- PIPE-791 Phase 1b chronic pain trial met its primary endpoint, showing at least 30% reduction in chronic pain [news · 2026-04-30]
- PIPE-791 has advanced to Phase 2 for idiopathic pulmonary fibrosis, a large unmet need [catalyst · 2026-01-08]
- The company has a partnership with Johnson & Johnson for PIPE-307, providing development resources and expertise [news · 2026-09-14]
What to weigh
- The Phase 2 MOONLIGHT-1 trial for PIPE-307 in major depressive disorder failed to meet its primary endpoint [news · 2026-09-14]
- Cash position of $14.7M as of 2026-06-30 is relatively low for a clinical-stage company with multiple ongoing trials [sec]
- J&J has sole discretion on further development of PIPE-307 for any indication, limiting Contineum's control [pipeline]
From the filings
Quoted directly from source documents.
PIPE-307 Phase 2 trial failed primary endpoint
“the MOONLIGHT-1 trial did not achieve its primary efficacy endpoint”
News · September 14, 2026
PIPE-791 Phase 1b met primary endpoint
“Contineum Therapeutics Announces Its Phase 1b Study Of PIPE-791 Meets Primary Endpoint By Demonstrating At Least 30% Reduction In Chronic Pain”
News · April 30, 2026
J&J has sole discretion on PIPE-307 development
“J&J has sole discretion whether or not to further develop PIPE-307 for RRMS, MDD, or any other indication.”
Catalyst timeline
- 2026-01-08 · Phase 2 start for PIPE-791 in idiopathic pulmonary fibrosis — A Phase 2 trial for PIPE-791 in IPF began, evaluating efficacy, safety, and tolerability.
- 2025-02-04 · Phase 1 start for PIPE-791 in chronic pain — A Phase 1b trial for PIPE-791 in chronic osteoarthritis pain and chronic low back pain began.
Risks & what to watch (3)›
Key risks
- Phase 2 failure in MDD — PIPE-307 failed primary endpoint in MOONLIGHT-1, casting doubt on its value [news · 2026-09-14]
- Low cash runway — Cash of $14.7M as of 2026-06-30 may limit ability to fund ongoing trials without new financing [sec]
- Partner control over key asset — J&J has sole discretion on further development of PIPE-307, reducing Contineum's influence [pipeline]
What to watch
- PIPE-791 Phase 2 results in idiopathic pulmonary fibrosis, expected to enroll patients as of December 2025 [news · 2025-12-11]
- Any update from J&J on whether to continue PIPE-307 development after Phase 2 failure [news · 2026-09-14]
- Next financing or partnership moves given low cash position [sec]
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.04 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
0 buys · 12 sells (180d)
Pipeline
Regulatory
Financials
Short Interest
as of May 20, 2026- % of float
- 4.9%
- Days to cover
- 6.4
- Shares short
- 1,605,258
- 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 →
CTNM short interestGovernance
Frequently asked questions
What is the AI investment thesis for Contineum Therapeutics, Inc.?
Contineum Therapeutics (CTNM) is a clinical-stage biopharmaceutical company developing small molecule therapies for inflammatory, fibrotic, and neuroscience indications, with a lead program in chronic pain and a recent Phase 2 miss in major depressive disorder.
What is Contineum Therapeutics, Inc.'s lead drug candidate?
Contineum Therapeutics, Inc.'s most advanced tracked candidate is PIPE-307 (Phase 2) for Chronic Osteoarthritis Pain.
Who is the CEO of Contineum Therapeutics, Inc.?
Mr. Carmine N. Stengone MBA, MS is the chief executive officer of Contineum Therapeutics, Inc. (CTNM).
Where is Contineum Therapeutics, Inc. headquartered?
Contineum Therapeutics, Inc. (CTNM) is headquartered in San Diego, CA, United States.
What therapeutic areas does Contineum Therapeutics, Inc. focus on?
Contineum Therapeutics, Inc. develops therapies across Respiratory, Pain, Musculoskeletal.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.