Connect Biopharma (CNTB) Registration Filing summary

Company overview and business model

• Headquartered in San Diego, operates as a clinical-stage biopharmaceutical company focused on rademikibart, a next-generation anti-IL-4Ra antibody for asthma and COPD care.

• Incorporated in the Cayman Islands as a holding company, with operations conducted through subsidiaries, including those in the PRC.

Financial performance and metrics

• As of March 31, 2025, cash and cash equivalents were $47.7 million; pro forma cash after the offering would be $192.9 million.

• Shareholders' equity as of March 31, 2025, was $82.9 million, increasing to $228.1 million pro forma for the offering.

• Public float as of June 9, 2025, was approximately $35.1 million, with 55,561,056 ADSs outstanding.

Use of proceeds and capital allocation

• Net proceeds will be used to fund pipeline development, maintain working capital, and for general corporate purposes.

• Management retains broad discretion over the allocation of proceeds, which may also be used for acquisitions or strategic transactions.