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Connect Biopharma

CNTB Lead: Phase 2 4 Biotech Distilled articles ↓ 16 filings & releases ↓ Cash $27.0M (Jun 30, 2026) ↓ 4 verdicts ↓ 2 timing quotes ↓
Respiratory Protein

Market cap $45.9M 63.0M shares (10-Q, Jul 31, 2026) × $0.729 close Nov 6, 2026

Most recent annual filing: 2026-03-31

Catalyst timeline

2 trackedQuarter catalyst calendar →
  1. Rademikibart atopic dermatitis China decision2H 2026Rademikibart atopic dermatitis China decision, 2H 2026, material
  2. Rademikibart FDA feedback4Q 2026Rademikibart FDA feedback, 4Q 2026, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

Discontinued (1)

Capital (as filed)

Cash
$27.0M cash and cash equivalents · Jun 30, 2026 (10-Q)
Short-term investments
$4.5M Jun 30, 2026
Operating cash flow
−$15.9M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$31.5M cash per the update of Sep 30, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (4)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (4 calls)

Every verdict Biotech Distilled has published on Connect Biopharma, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-06-08 Watch Connect Biopharma (CNTB) - Scientific Deep Dive for Rademikibart and Pipeline Products Differentiated mechanism and real acute-exacerbation white space, but the entire equity hinges on one funded-but-binary mid-2026 Seabreeze readout in a novel endpoint, against subgroup-heavy supporting data and a China-structure/Phase-3-dilution overhang.
  2. 2026-08-13 Speculative buy speculative UPDATE: Connect Biopharma (CNTB) - The Clock Is Set, The Cushion Is Gone Upgrade is narrow and calendar-driven: readout now has a month, both trials finished enrollment at plan with no sample-size expansion, and Simcere milestone cash is flowing — asymmetry intact with timing certainty, but sized only as a small event-sized starter given the thinned cash cushion.
  3. 2026-09-16 Watch UPDATE: Connect Biopharma (CNTB) - The Trial Failed. The Drug Might Not Have. Asthma trial missed its primary endpoint on only 8 events (p=0.153), forcing a raise from a broken tape without a re-rating; the mechanistic FEV1 secondary hit but the endpoint the equity was priced on failed, and the dilution event is now unavoidable before COPD data and FDA endpoint clarity.
  4. 2026-09-30 Watch UPDATE: Connect Biopharma (CNTB) - The Mirror Image COPD hit the clinical-outcome primary (81% fewer treatment failures, p=0.0122) but missed Day-7 FEV1, each trial won on a different endpoint, and the imminent dilutive raise keeps the stance at Watch until a fairly priced deal and constructive FDA read would justify a SPEC_BUY upgrade.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (2 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (16)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 12, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

9 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)