Connect Biopharma (CNTB) investor relations material

Rademikibart clinical development and differentiation

• Rademikibart, a next-generation anti-IL-4Ra antibody, showed rapid and sustained FEV₁ improvement in asthma and COPD, with effects observed within 24 hours of SC dosing and within 15 minutes of IV push, maintained through Day 29.

• Demonstrated greater FEV₁ response and faster onset than other biologics, including dupilumab, and directly induces bronchodilation in preclinical and clinical studies.

• Rademikibart reduces eosinophil counts, lowering risk of hypereosinophilia and related SAEs, unlike dupilumab which increases eosinophils.

• Phase 2 studies in acute asthma and COPD exacerbations completed enrollment, with topline results expected September 2026; positive results may prioritize asthma for faster approval.

• Phase 3 atopic dermatitis (AD) study in China showed high response rates (87.1% IGA 0/1, 96.6% EASI-75, 85.3% EASI-90) and a favorable safety profile.

Market opportunity and commercial strategy

• Acute and chronic indications in asthma and COPD represent a significant commercial opportunity, with projected peak sales of >$3B for asthma and >$2B for COPD.

• Rademikibart's rapid onset and acute indication differentiate it from competitors, with clinicians expecting to maintain 75% of acutely treated patients on chronic therapy.

• Addressable market includes >1 million acute asthma exacerbation patients annually in the US, with similar numbers in the EU.

• New high-yield manufacturing and IV presentation support hospital-friendly pricing and market penetration.

Financial position and outlook

• Cash and cash equivalents of $46.0 million as of March 31, 2026, expected to fund operations into the second half of 2027.

• Net loss for Q1 2026 was $19.4 million, with $16.0 million net cash used in operations.

• Exclusive global rights (outside greater China) and patent protection extend into the 2040s, supporting long-term value creation.