Connect Biopharma (CNTB) Q2 2026 earnings summary

Executive summary

• Advanced rademikibart, a next-generation antibody for asthma and COPD, with Phase 2 studies completed enrollment and topline data expected in September 2026.

• Initiated a new Phase 2 IV study for rademikibart in August 2026 to bridge subcutaneous to IV administration for acute exacerbations.

• Cash runway projected to last at least one year from August 2026.

Financial highlights

• License and collaboration revenues were $2.8M for Q2 2026 and $2.9M for H1 2026, mainly from a regulatory milestone under the Simcere agreement.

• Research and development expenses rose to $16.3M for Q2 2026 and $31.3M for H1 2026, driven by rademikibart clinical development.

• General and administrative expenses decreased to $4.1M for Q2 2026 and $8.8M for H1 2026, reflecting lower professional fees.

• Net loss was $17.3M for Q2 2026 and $36.7M for H1 2026, compared to $12.9M and $23.2M for the same periods in 2025.

• Cash, cash equivalents, and short-term investments totaled $31.5M as of June 30, 2026.

Outlook and guidance

• Management expects existing cash resources to fund operations for at least one year from August 2026.

• Ongoing and future capital needs will be met through equity, debt, collaborations, or strategic transactions.

• Topline data from key Phase 2 studies expected in September 2026, with plans to meet FDA for Phase 3 alignment.

• Eligible for up to $99M in future milestone payments from Simcere collaboration.