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Connect Biopharma Holdings Limited (CNTB)

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Previous Close16.16
Open16.19
Bid0.00 x 1100
Ask0.00 x 1100
Day's Range15.57 - 16.97
52 Week Range15.29 - 23.29
Volume38,932
Avg. Volume263,718
Market Cap967.221M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
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1y Target Est31.00
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  • Connect Biopharma Completes Enrollment of CBP-201 Global Phase 2 Clinical Trial in Moderate-to-Severe Atopic Dermatitis
    GlobeNewswire

    Connect Biopharma Completes Enrollment of CBP-201 Global Phase 2 Clinical Trial in Moderate-to-Severe Atopic Dermatitis

    SAN DIEGO and TAICANG, China, April 08, 2021 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (Nasdaq: CNTB) ("Connect Biopharma" or the “Company”), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T cell-driven research, today announced that it has completed full enrollment of the phase 2 clinical trial evaluating CBP-201 in adult patients with moderate-to-severe Atopic Dermatitis (AD). The global, randomized, double-blind, placebo-controlled, dose-ranging clinical trial to assess the efficacy, safety, and pharmacokinetics (PK) profile of CBP-201, was designed to enroll 220 subjects and is being conducted at 60 sites across the US, China, Australia, and New Zealand. CBP-201 or placebo was administered to eligible adult subjects with moderate-to-severe AD for 16 weeks with 8 weeks of follow up (NCT04444752). “The completion of enrollment of the CBP-201 global phase 2 trial in patients with moderate-to-severe AD is an important step for Connect and our lead clinical program,” said Zheng Wei, PhD, Co-founder and CEO of Connect Biopharma. “A significant unmet need still exists for patients and we believe that CBP-201 has the potential to show a differentiated profile to address it. We are optimistic that the results from this study, expected in the second half of this year, will continue to support our hypothesis.” About Atopic Dermatitis Atopic dermatitis (AD), which has an estimated lifetime prevalence of up to 20% and is increasing globally, is the most commonly diagnosed chronic inflammatory skin disorder. It is characterized by skin barrier disruption and immune dysregulation. It is estimated that 26.1 million people in the United States have AD, of which 6.6 million have moderate-to-severe disease. It is estimated that over 58% of adults with moderate-to-severe AD have disease which physicians consider to be inadequately controlled by approved therapeutic modalities, including topical anti-inflammatory agents and systemic agents. About CBP-201 CBP-201 is a novel IL-4Rα monoclonal antibody that has shown a favorable safety and efficacy profile in a Phase 1b clinical trial in adult patients with moderate-to-severe AD. CBP-201 was shown to be well tolerated with no new safety signals compared to other approved IL-4Rα blockers, and no reported injection site reactions or conjunctivitis. The proportion of patients given CBP-201 150mg or 300 mg or placebo, weekly for 4 weeks, who achieved an Investigator Global Assessment score of clear or almost clear skin (IGA 0,1) was 50%, 42.9% and 12.5% respectively. Additionally, skin lesion improvements were rapid, as evidenced as early as one week after dosing and were correlated with a rapid reduction in pruritus intensity and frequency. This suggests the potential for a differentiated efficacy profile, with fast onset of action for CBP-201 compared with data from clinical trials of the current biologic standard of care therapy. About Connect Biopharma Holdings Limited Connect Biopharma Holdings Limited is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients living with chronic inflammatory diseases through the development of therapies derived from our T cell-driven research. Our lead product candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha (IL-4Rα), which is a validated target for the treatment of several inflammatory diseases such as atopic dermatitis (AD) and asthma. Our second lead product candidate is CBP-307, a modulator of a T cell receptor known as sphingosine 1-phosphate receptor 1 (S1P1). Specifically, we are developing CBP-307 for two types of inflammatory bowel disease (IBD), ulcerative colitis (UC) and Crohn’s disease (CD). With current headquarters in China, additional operations in the United States and Australia, and clinical development activities in those geographies as well as Europe, Connect Biopharma is building a rich global pipeline of internally designed, wholly owned small molecules and antibodies targeting several aspects of T cell biology. For additional information about Connect Biopharma, please visit our website at www.connectbiopharm.com. FORWARD-LOOKING STATEMENTS Connect Biopharma cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as "may," "could," "will," "would," "should," "expect," "plan," "anticipate," "believe," "estimate," "intend," "predict," "seek," "contemplate," "potential," "continue" or "project" or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include the Company's statements regarding the potential of CBP-201 to achieve a differentiated profile to address the unmet needs of patients with AD and the timing of the results of the Company's phase 2 clinical trial evaluating CBP-201 in adult patients with moderate-to-severe AD. The inclusion of forward-looking statements should not be regarded as a representation by Connect Biopharma that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the Connect Biopharma business and other risks described in the Company's filings with the Securities and Exchange Commission ("SEC"). Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Connect Biopharma undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included in Connect Biopharma's filings with the SEC which are available from the SEC's website (www.sec.gov) and on Connect Biopharma's website (www.connectbiopharm.com) under the heading "Investors." All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. IR/PR Contacts:Lazar FINN PartnersDavid Carey (IR)T: +1-(212) 867-1768david.carey@finnpartners.com Erich Sandoval (Media)T: +1-(917)-497-2867erich.sandoval@finnpartners.com Corporate Contacts:info@connectpharm.com

  • Connect Biopharma Holdings Limited Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional American Depositary Shares
    GlobeNewswire

    Connect Biopharma Holdings Limited Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional American Depositary Shares

    SAN DIEGO and TAICANG, China, March 23, 2021 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (Nasdaq: CNTB) (the “Company”), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T-cell-driven research, today announced the closing of its initial public offering of 12,937,500 American Depositary Shares (“ADSs”), representing 12,937,500 ordinary shares of the Company, at a public offering price of US$17.00 per ADS. The number of ADSs issued at closing included the exercise in full of the underwriters’ option to purchase 1,687,500 additional ADSs from the Company at the initial public offering price, less underwriting discounts and commissions. The gross proceeds from the offering were approximately US$219.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. Each ADS represents one ordinary share of the Company. The ADSs began trading on the Nasdaq Global Market on March 19, 2021 under the ticker symbol "CNTB”. Jefferies LLC, SVB Leerink LLC, Piper Sandler & Co. and China International Capital Corporation Hong Kong Securities Limited acted as joint book-running managers for the offering. A registration statement relating to the securities sold in this offering was declared effective by the U.S. Securities and Exchange Commission on March 18, 2021. This offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from (i) Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-821-7388, or by email at Prospectus_Department@jefferies.com; (ii) SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, telephone: 1-800-808-7525 ex. 6105 or email: syndicate@svbleerink.com; (iii) Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at 1-800-747-3924, or by e-mail at prospectus@psc.com; or (iv) China International Capital Corporation Hong Kong Securities Limited, Address: 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, by telephone at 852-2872-2000 or by email at ECM_Project_Kayak@cicc.com.cn. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Connect Biopharma Holdings Limited Connect Biopharma Holdings Limited is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients living with chronic inflammatory diseases through the development of therapies derived from our T cell-driven research. Our lead product candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha (IL-4Rα), which is a validated target for the treatment of several inflammatory diseases such as atopic dermatitis (AD) and asthma. Our second lead product candidate is CBP-307, a modulator of a T cell receptor known as sphingosine 1-phosphate receptor 1 (S1P1). IR/PR Contacts: Lazar FINN Partners David Carey (IR) T: +1-(212) 867-1768david.carey@finnpartners.comErich Sandoval (Media)T: +1-(917)-497-2867erich.sandoval@finnpartners.com Corporate Contacts:info@connectpharm.com

  • Connect Biopharma Holdings Limited announces pricing of Initial Public Offering
    GlobeNewswire

    Connect Biopharma Holdings Limited announces pricing of Initial Public Offering

    SAN DIEGO and TAICANG, China, March 18, 2021 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (the “Company”), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T-cell-driven research, today announced the pricing of its initial public offering of 11,250,000 American Depositary Shares (“ADSs”), representing 11,250,000 ordinary shares of the Company, at a public offering price of US$17.00 per ADS. All of the ADSs are being offered by the Company. The Company has granted the underwriters an option to purchase up to an additional 1,687,500 ADSs within 30 days from the date of the final prospectus at the initial public offering price, less underwriting discounts and commissions. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately US$191.3 million, assuming the underwriters do not exercise their option to purchase additional ADSs, or approximately US$219.9 million, if the underwriters choose to exercise their option to purchase additional ADSs in full. The ADSs are expected to begin trading on the Nasdaq Global Market on March 19, 2021 under the ticker symbol “CNTB.” The offering is expected to close on March 23, 2021, subject to customary closing conditions. Jefferies LLC, SVB Leerink LLC, Piper Sandler & Co. and China International Capital Corporation Hong Kong Securities Limited are acting as joint book-running managers for this offering. The Company’s registration statement related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from (i) Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-821-7388, or by email at Prospectus_Department@jefferies.com; (ii) SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, telephone: 1-800-808-7525 ex. 6105 or email: syndicate@svbleerink.com; (iii) Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at 1-800-747-3924, or by e-mail at prospectus@psc.com; or (iv) China International Capital Corporation Hong Kong Securities Limited, Address: 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, by telephone at 852-2872-2000 or by email at ECM_Project_Kayak@cicc.com.cn. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Connect Biopharma Holdings Limited Connect Biopharma Holdings Limited is a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients living with chronic inflammatory diseases through the development of therapies derived from our T cell-driven research. Our lead product candidate, CBP-201, is an antibody designed to target interleukin-4 receptor alpha (IL-4Rα), which is a validated target for the treatment of several inflammatory diseases such as atopic dermatitis (AD) and asthma. Our second lead product candidate is CBP-307, a modulator of a T cell receptor known as sphingosine 1-phosphate receptor 1 (S1P1). IR/PR Contacts:Lazar FINN Partners David Carey (IR) T: +1-(212) 867-1768david.carey@finnpartners.comErich Sandoval (Media)T: +1-(917)-497-2867erich.sandoval@finnpartners.com Corporate Contacts:info@connectpharm.com