Connect Biopharma Holdings Ltd
Business
Connect Biopharma is a clinical-stage biopharmaceutical company developing rademikibart, a monoclonal antibody targeting IL-4 receptor alpha for asthma and COPD. The company is advancing two Phase 2 trials for acute exacerbations of asthma and COPD, supported by prior Phase 2b results in chronic asthma showing rapid onset and sustained lung-function improvements. Connect has licensed rademikibart rights in Greater China to Simcere Pharmaceutical, which is developing the candidate for atopic dermatitis and has reported positive Phase 3 results. The company operates as a development-stage entity dependent on contract manufacturers, with clinical operations and regulatory strategy directed toward U.S. and international markets.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| License and collaboration revenues | 64,000 | 26 | 0 | |
| Research and development expense | 38 | 29 | 53 | |
| General and administrative expense | 20 | 19 | 16 | |
| Total operating expenses | 58 | 48 | 69 | |
| Loss from operations | −58 | −22 | −69 | |
| Interest income | 2 | 4 | 5 | |
| Other income (expense) | 523,000 | 3 | 2 | |
| Total other income, net | 3 | 7 | 7 | |
| Net loss before income tax | −55 | −15 | −62 | |
| Income tax expense | 197,000 | 223,000 | 120,000 | |
| Net loss | −55 | −16 | −62 | |
| Foreign currency translation adjustments | 477,000 | −670,000 | −614,000 | |
| Unrealized gains (losses) on available-for-sale investments | −2,000 | 12,000 | 354,000 | |
| Comprehensive loss | −55 | −16 | −62 | |
| Basic net loss per ordinary share (in dollars per share) | −1 | −0.28 | −1.13 | |
| Diluted net loss per ordinary share (in dollars per share) | −1 | −0.28 | −1.13 | |
| Weighted-average ordinary shares outstanding, basic (in shares) | 56 | 55 | 55 | |
| Weighted-average ordinary shares outstanding, diluted (in shares) | 56 | 55 | 55 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 38 | 78 | 106 | — | |
| Short-term investments | 6 | 16 | 13 | — | |
| Accounts receivable, net | 13,000 | 789,000 | 0 | — | |
| Prepaid expenses and other current assets | 7 | 2 | 4 | — | |
| Total current assets | 51 | 97 | 123 | — | |
| Property and equipment, net | 4 | 4 | 4 | — | |
| Right-of-use lease assets, net | 647,000 | 189,000 | 462,000 | — | |
| Intangible assets, net | 45,000 | 53,000 | 62,000 | — | |
| Other assets | 646,000 | 33,000 | 24,000 | — | |
| Total assets | 56 | 101 | 127 | — | |
| Accounts payable | 2 | 342,000 | 2 | — | |
| Accrued liabilities | 11 | 8 | 9 | — | |
| Contract liabilities | 167,000 | 164,000 | 13 | — | |
| Current lease liabilities | 322,000 | 154,000 | 285,000 | — | |
| Total current liabilities | 14 | 8 | 25 | — | |
| Non-current lease liabilities | 368,000 | 24,000 | 180,000 | — | |
| Other non-current liabilities | 114,000 | 632,000 | — | — | |
| Total liabilities | 14 | 9 | 26 | — | |
| Commitments and contingencies (see Note 7) | — | — | — | — | |
| Preferred shares, $0.000174 par value: 40,000,000 shares authorized; no shares issued or outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | — | |
| Ordinary shares, $0.000174 par value; 400,000,000 shares authorized; 56,442,308 and 55,349,208 shares issued and outstanding at December 31, 2025 and 2024, respectively | 10,000 | 10,000 | 10,000 | — | |
| Additional paid-in capital | 444 | 439 | 432 | — | |
| Accumulated other comprehensive loss | −1 | −2 | −1 | — | |
| Treasury shares | −180,000 | −180,000 | −180,000 | — | |
| Accumulated deficit | −401 | −345 | −330 | — | |
| Total shareholders' equity | 42 | 92 | 101 | 158 | |
| Total liabilities and shareholders' equity | 56 | 101 | 127 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Share-based compensation expense | 4 | 7 | 5 | |
| Depreciation and amortization | 704,000 | 660,000 | 720,000 | |
| Accretion of discounts on available-for-sale investments | −773,000 | −123,000 | −2 | |
| Impairment of property and equipment | 0 | 200,000 | 0 | |
| Loss on disposal of property and equipment | 37,000 | 9,000 | 0 | |
| Accounts receivable, net | 776,000 | −789,000 | 0 | |
| Prepaid expenses and other current assets | −4 | 2 | 4 | |
| Other non-current assets | −605,000 | 0 | 238,000 | |
| Accounts payable | 2 | −2 | −1 | |
| Accrued liabilities | 3 | −2 | −6 | |
| Contract liabilities | 3,000 | −13 | 13 | |
| Operating lease liabilities | 54,000 | −14,000 | −5,000 | |
| Other non-current liabilities | −518,000 | 227,000 | — | |
| Net cash used in operating activities | −51 | −24 | −48 | |
| Purchases of short-term investments | −30 | −15 | −31 | |
| Proceeds from maturities and sales of short-term investments | 41 | 13 | 103 | |
| Purchases of property and equipment | −434,000 | −750,000 | −81,000 | |
| Proceeds from sale of property and equipment | 2,000 | 0 | 2,000 | |
| Net cash provided by (used in) investing activities | 10 | −3 | 75 | |
| Proceeds from shares issued under the Employee Share Purchase Plan | 218,000 | 33,000 | 44,000 | |
| Proceeds from exercise of stock options | 875,000 | 194,000 | 1,000 | |
| Net cash provided by financing activities | 1 | 227,000 | 45,000 | |
| Effect of exchange rate changes on cash and cash equivalents | 408,000 | −595,000 | −568,000 | |
| Net decrease in cash and cash equivalents | −40 | −27 | 27 | |
| Federal income taxes paid | 291,000 | 110,000 | — | |
| State income taxes paid | 1,000 | 1,000 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Connect Biopharma Holdings Ltd's CIK number?
Connect Biopharma Holdings Ltd's SEC CIK number is 0001835268 (1835268). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Connect Biopharma Holdings Ltd's SEC filings?
All of Connect Biopharma Holdings Ltd's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Connect Biopharma Holdings Ltd last report earnings?
Connect Biopharma Holdings Ltd (CNTB) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001835268-26-000019). This is Connect Biopharma Holdings Ltd's most recent earnings filing of record — not a forecast of its next earnings date.
What is Connect Biopharma Holdings Ltd's most recent earnings 8-K?
Connect Biopharma Holdings Ltd's latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001835268-26-000019. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Connect Biopharma Holdings Ltd's latest earnings 8-K →
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