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Connect Biopharma Holdings LimitedNasdaqGM:CNTB 株式レポート

時価総額 US$77.5m
株価
n/a
1Y-23.0%
7D-39.8%
1D6.0%
ポートフォリオ価値
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Connect Biopharma Holdings Limited

NasdaqGM:CNTB 株式レポート

時価総額：US$77.5m

Connect Biopharma Holdings（CNTB）株式概要

コネクト・バイオファーマ・ホールディングス・リミテッドは、米国で臨床段階のバイオ医薬品会社として事業を展開している。 詳細

CNTB ファンダメンタル分析
スノーフレーク・スコア
評価0/6
将来の成長2/6
過去の実績0/6
財務の健全性4/6
配当金0/6

報酬

収益は年間56.06%増加すると予測されています

リスク分析

今後3年間の収益は年平均4.3%減少すると予測されている。

キャッシュランウェイが1年未満である

US市場と比較して、過去 3 か月間の株価の変動が非常に大きい

現在は利益が出ておらず、今後3年間で利益が出る見込みはない

+2 さらなるリスク

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Connect Biopharma Holdings Limited 競合他社

価格と性能

株価の高値、安値、推移の概要Connect Biopharma Holdings
過去の株価
現在の株価US$1.24
52週高値US$3.82
52週安値US$1.06
ベータ0
1ヶ月の変化-48.97%
3ヶ月変化-38.00%
1年変化-22.98%
3年間の変化n/a
5年間の変化n/a
IPOからの変化-37.69%

最新ニュース

分析記事 • Sep 03

We're Keeping An Eye On Connect Biopharma Holdings' (NASDAQ:CNTB) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Jul 23

Connect Biopharma: Attempting To Differentiate Rademikibart From Dupixent

Summary CNTB is developing rademikibart, a drug with a similar mechanism of action to SNY/REGN's blockbuster Dupixent. The company is approaching a readout from two trials, Seabreeze STAT Asthma and Seabreeze STAT COPD, which have the potential to show a benefit of rademikibart for acute exacerbations. CNTB raised net proceeds of $18.6M in Q1'26 with a private placement, with cash of $46M at the end of that quarter. Read the full article on Seeking Alpha

Recent updates

分析記事 • Sep 03

We're Keeping An Eye On Connect Biopharma Holdings' (NASDAQ:CNTB) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Jul 23

Connect Biopharma: Attempting To Differentiate Rademikibart From Dupixent

Summary CNTB is developing rademikibart, a drug with a similar mechanism of action to SNY/REGN's blockbuster Dupixent. The company is approaching a readout from two trials, Seabreeze STAT Asthma and Seabreeze STAT COPD, which have the potential to show a benefit of rademikibart for acute exacerbations. CNTB raised net proceeds of $18.6M in Q1'26 with a private placement, with cash of $46M at the end of that quarter. Read the full article on Seeking Alpha
分析記事 • May 20

Here's Why Connect Biopharma Holdings (NASDAQ:CNTB) Must Use Its Cash Wisely

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
分析記事 • Sep 27

Connect Biopharma Holdings (NASDAQ:CNTB) Is In A Strong Position To Grow Its Business

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
分析記事 • Mar 07

Companies Like Connect Biopharma Holdings (NASDAQ:CNTB) Are In A Position To Invest In Growth

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
分析記事 • Sep 19

Is Connect Biopharma Holdings (NASDAQ:CNTB) In A Good Position To Invest In Growth?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
分析記事 • Mar 29

Will Connect Biopharma Holdings (NASDAQ:CNTB) Spend Its Cash Wisely?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
分析記事 • Dec 14

Is Connect Biopharma Holdings (NASDAQ:CNTB) In A Good Position To Deliver On Growth Plans?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Seeking Alpha • Oct 10

Market Appears To Relegate Connect Biopharma To A Long-Term Hold

Summary Lead product candidate CBP-201 had a successful pivotal trial. After an initial surge, traders selling the news brought prices 15% below the previous close. CBP-201 is now on a near-certain path to approval in the world's 2nd largest market. (Editor's Note: This is a follow-up to the contributor's September 26, 2022 article) On October 4, 2022, Connect Biopharma (CNTB) announced topline results for CBP-201's atopic dermatitis (or AD) study in China. The primary endpoint and key secondary endpoints were all met with high statistical significance (Table 1). CBP-201 turned in Dupixent-level numbers and more, but the stock was punished on a day the iShares Biotechnology ETF (IBB) and SPDR S&P Biotech ETF (XBI) rose 2.86% and 3.78%, respectively. This may be a prime opportunity for long-term investors looking for value to buy the dip. Table 1. Efficacy results of CN002 CBP-201 Placebo P-value Primary endpoint: IGA 0 or 11 30.3 7.5 <0.001 EASI-502 83.1 41.1 <0.001 EASI-753 62.9 23.4 <0.001 EASI-904 35.8 6.3 <0.001 % change in EASI5 -73.7 -36.6 <0.001 PP-NRS [4+]6 35 9.6 <0.001 PP-NRS [3+]7 46.7 16.7 <0.001 % change in PP-NRS8 -38.1 -12.3 <0.001 1 % of patients with 0 or 1 point ("clear" or "almost clear") on validated Investigator Global Assessment for Atopic Dermatitis (vIGA-AD) scale and ≥2-point reduction in IGA from baseline at Week 16 2 % of patients with ≥50% improvement in Eczema Area and Severity Index ((EASI)) score from baseline to Week 16 3 % of patients with ≥75% improvement in EASI score from baseline at Week 16 4 % of patients with ≥90% improvement in EASI score from baseline at Week 16 5 % improvement in EASI at Week 16 6 % of patients with ≥4-point reduction on Peak Pruritus-Numerical Rating Scale (PP-NRS) from baseline at Week 16 7 % of patients with ≥3-point reduction on PP-NRS from baseline at Week 16 8 % change in PP-NRS at Week 16 CN002 is a randomized, double-blind, multi-center, controlled trial in Chinese subjects aged 12 to 75 with moderate to severe AD. At the screening and baseline visit, patients had to have, among other things, a) IGA score of ≥3 out of 4 (see Figure 1), b) EASI score ≥16 out of 72 and c) average daily score on the PP-NRS of ≥4 out of 10. Figure 1. Eli Lilly The FDA has recommended an IGA as the primary endpoint for new drug approval trials in AD since the days of Elidel cream, while the global Harmonising Outcome Measures for Eczema (or HOME) initiative prefers the EASI. HOME also endorses PP-NRS to measure itch intensity, a core symptom of AD, based on the question: 'On a scale of 0 to 10, with 0 being "no itch" and 10 being "worst itch imaginable", how would you rate your itch at the worst moment during the previous 24 hours?' Thus, China's Center for Drug Evaluation of the National Medical Products Administration (or CDE) deemed that a positive primary analysis on a subset of 255 adult patients who had completed the initial 16-week period (Stage 1) of this well-designed study would support a New Drug Application (or NDA). CBP-201 delivered, with efficacy results comparable to Dupixent, the only interleukin-4 receptor alpha (IL-4Rα) on the market and jointly sold by Sanofi (SNY) and Regeneron (REGN). Table 2 shows additional data aligning with the CN002 topline results. So why did the market react so negatively? It might be a case of too little, too late. Table 2. Efficacy results of Dupixent in major trials of adult subjects with moderate-to-severe AD, using the current recommended initial dose of 600 mg, followed by 300 mg given every other week (Q2W) SOLO 1 SOLO 2 LIBERTY AD CHRONOS Chinese Phase III Dupixent Placebo Dupixent Placebo Dupixent Placebo Dupixent Placebo IGA 0 or 1 37.9 10.3 36.1 8.5 38.7 12.4 26.8 4.8 EASI-50 68.8 24.6 65.2 22.0 80.2 37.5 70.7 28.9 EASI-75 51.3 14.7 44.2 11.9 68.9 23.2 57.3 14.5 EASI-90 35.7 7.6 30.0 7.2 39.6 11.1 40.2 6.0 % change in EASI -72.3 -37.6 -67.1 -30.9 -76.7 -43.2 -75.23 -39.4 PP-NRS [4+] 40.8 12.3 36.0 9.5 58.8 19.7 39.0 4.8 PP-NRS [3+] 46.8 17.2 50.6 12.8 65.7 27.8 52.4 9.6 % change in PP-NRS -51.0 -26.1 -44.3 -15.4 -56.2 -28.6 -48.59 -21.13 Connect Bio did not release data among the topline results that clearly maintained a quicker onset by CBP-201 over Dupixent. Yes, improvements in EASI at Week 2 (26.3% change with CBP-201 vs 13.8% for placebo, p < 0.001) were significant and clinically meaningful. Baseline EASI score was 29.6, so the average improvement was approximately 7.8 points, which is higher than minimal clinically important difference of 6.6 points and also correlates to at least a 1-point improvement in the IGA. It was a good start, but not better than Dupixent. Now, management is angling for a positive showing for the more convenient Q4W dosing, as well as increased efficacy post-16 weeks (Figure 2), as potential areas of differentiation. Figure 2. CBP-201 Secondary Endpoint CNTB October 2022 Corporate Presentation, p. 14 Now the waiting begins for the Stage 2 36-week readout. If the last Stage 1 patient was dosed in June, their 36-week visit would occur by May of next year. Stage 2 will more likely than not show statistical significance for both active regimens. This will also include 52-week safety data, which so far has been exemplary. By that time, data from additional adult and adolescent Stage 1 patients outside the primary analysis population could also be available. Connect Bio will next be requesting a pre-biologics license application with the CDE to determine the next steps for a potential NDA filing. Risks and Takeaways Some of the key points from our article from a few weeks ago remain: CNTB is a risky biotechnology stock. Investors in a bear market prefer companies with stable earnings, even in the defensive health sector, so might pass over biotech, especially microcaps. So long as CNTB is below $5, the threshold will also preclude most institutions and mutual funds from buying. ETFs such as IBB and XBI may be safer means of exposure to the sector.
Seeking Alpha • Sep 26

Connect Biopharma Is A Sleeper Heading Into October Data Readout

Summary The stock is down 80% year-to-date due to disappointing study results from the company’s two lead product candidates, CBP-201 and CBP-307. CBP-307 development has been put on ice. But CBP-201 is back, and if more successful this time, it could be on a fast track for approval in the world’s 2nd largest market. Connect Biopharma Holdings Limited (CNTB) is a microcap (<$75 million) biopharmaceutical company developing T cell-driven therapies to chronic inflammatory diseases with 3 drugs in the clinical-stage (Figure 1). On their Sept. 13 fiscal 2022 half year report was an announcement that they expected top-line results next month for the pivotal CBP-201 atopic dermatitis (or AD) trial in Chinese adults. CBP-201 is an antibody targeting interleukin-4 receptor alpha (IL-4Rα) like Dupixent, the blockbuster drug jointly sold by Sanofi (SNY) and Regeneron (REGN). Previously in November 2021, the WW001 global Phase 2 AD clinical trial met its primary efficacy endpoint, but Connect Biopharma didn’t provide immediate specifics. The market dropped the stock 58% (Figure 1) as it took the lack of details as an unfavorable comparison to Dupixent. Subsequent analyses released in January didn’t lift the share price. Nevertheless, the explanations shared by the company were reasonable, and the actual results bolster the likelihood of success in China. Figure 1. Pipeline, Page 4 of September 2022 Corporate Presentation Connect Biopharma pipeline (Connect Biopharma) Figure 2. One-year price chart Connect Biopharma price chart (Seeking Alpha) A Huge Showcase Opportunity for CBP-201 On July 11, Connect Biopharma said that China’s Center for Drug Evaluation of the National Medical Products Administration (or CDE) had deemed a positive primary efficacy analysis based on the 255 patients already enrolled, together with data from the CBP-201 Phase 1 and global Phase 2 AD trials, would be enough to support the filing of a New Drug Application in that country. CBP-201 patients in the current study received a loading dose of 600 mg followed by 300 mg every two weeks (Q2W). The primary endpoint is the Investigator’s Global Assessment (or IGA) 0,1 response rate, which is the proportion of patients whose IGA score is 0 and/or 1 (“clear/almost clear” skin) with a decrease of IGA score by at least 2 points from baseline, as measured through the first 16 weeks (Stage 1 of the treatment period) of the 60-week trial. Key secondary endpoints include Eczema Area and Severity Index (or EASI)-50/75/90 response rates, which are the proportion of patients with ≥50%/75%/90% improvement in EASI score from baseline to week 16. Per CDE recommendations, IGA and EASI response rates will be analyzed as co-primary endpoints. The 300 mg CBP-201 Q2W is the strongest regimen tested so far, and the only cohort in WW001 that demonstrated statistically significant improvement (p value<0.001) in the primary endpoint of EASI % reduction from baseline at Week 16 (-63% vs -40.7% for placebo), as well as multiple key secondary endpoints listed in Table 1. Scores on the EASI range from 0 to 72, while the IGA ranges from 0 to 4, with higher scores indicating greater severity on both scales. There was also a greater treatment benefit of CBP-201 among patients enrolled in the China sub-population (-82.9% vs -34.9% for placebo). Table 1. Efficacy results of WW001 Full analysis set Placebo China subgroup Placebo EASI-501 54.4% 33.9% 50.0% 33.3% EASI-752 47.4% 14.3% 50.0% 0.0% IGA 0 or 13 28.1% 10.7% 33.3% 0.0% 1 % of patients with ≥50% improvement in Eczema Area and Severity Index score from baseline to week 16 2 % of patients with ≥75% reduction in EASI score from baseline at week 16 3 % of patients with 0 or 1 point on Investigator’s Global Assessment and ≥2-point reduction in IGA from baseline at week 16 Although it is a me-too follow-up to Dupixent, CBP-201 has the potential to be best-in-class among IL-4Rα antagonists. In 2020, a Phase 1b study exhibited early, rapid and durable improvements in several measures. At week 4, EASI change from baseline was 74.4% for the 300 mg dose compared with 32.9% for placebo. Additionally, 42.9% of patients receiving 300 mg achieved a score of 0 or 1 in the IGA, compared with 12.5% in the placebo group. IGA response is the primary efficacy endpoint required for FDA approval. Value and Financial Outlook According to Quantamental analysis, Connect Biopharma has been a deep value Strong Buy play for a while (Figure 3) and is trading well below cash. Liquidity is not a problem. As of June 30, 2022, the company had $212.9 million in cash, cash equivalents, and investments, which CFO Steven Chan stated was sufficient to fund operations into at least 2024, but cash outflows suggest a need for financing if no partnership help is acquired before the end of next year. H1 2022 operating loss was $60 million, of which research and development expenses took $50.8 million while supporting 6 trials involving all three clinical drugs. Two studies ended: the Phase 1 trial of CBP-174, a peripherally acting antagonist of histamine receptor 3 for the treatment of pruritus associated with AD; and a Phase 2 trial of CBP-307, a modulator of a T-cell receptor known as sphingosine 1-phosphate receptor 1, for the treatment of ulcerative colitis ((UC)). Another two have been terminated early, and the asthma study recruitment is slower than expected, so H2 R&D should be lower. The global Phase 3 initiating by year end might eventually enroll more than 600 patients, assuming patients will be randomized in a 2-to-1 ratio to receive either CBP-201 or placebo, and 200 patients in the control group, as in the Dupixent pivotal trials. Consequently, R&D will increase in 2023, but gradually because it takes longer to set up clinical sites over several countries. H1 administrative expenses totaled $10.7 million and may likely stay in the $10-12 million range for the next year. It is reasonable to expect the company to end 2022 with at least $160 million and burn $75-80 million in H1 2023. Figure 3. Quant Rating Quant rating (Seeking Alpha) Connect Bio has practically put all its eggs in one basket. If the trial meets the primary endpoint, which it likely will, they may not need financing at all. Since they hold global rights to a potential second-to-market to Dupixent, CBP-201 will draw heavy interest, even if it ends up making a fraction of the original. A mere 10% penetration of the first-in-class agent (Dupixent Q2 sales were over $2 billion) would project to at least $800 million in sales annually, or over 10 times CNTB's current market cap. Risks The greatest risk is for the China-specific trial to fail. That would render its Stage 2 irrelevant and likely derail the current plans for the worldwide 4-trial Phase 3 AD program. Since the Phase 2 study in chronic rhinosinusitis with nasal polyps was terminated due to disruptions from COVID-19 and the Ukraine War, any residual hopes for CBP-201 hinge on the readout for the asthma Phase 2b trial, which CEO Zheng Wei said was delayed 6 months to H2 2023. With nothing else on the horizon for a year, CNTB shares would probably sink well below $1, miss regaining compliance with Nasdaq Global Market’s $1 minimum price requirement, and get demoted to the third tier Capital Market. Even if positive, the results may, like WW001, not meet market expectations. Differences exist between trial designs and subjects enrolled, so caution should be exercised when comparing data across trials; but a cursory glance at the performance of the Dupixent dose that was ultimately approved (Table 2) show it to be numerically greater than CBP-201 in WW001. Table 2. Efficacy results of Dupixent in major trials of adult subjects with moderate-to-severe AD, using the current recommended initial dose of 600 mg, followed by 300 mg given every other week (Q2W) CHRONOS SOLO 1 SOLO 2 LIBERTY AD CHRONOS Chinese Phase III Dupixent Placebo Dupixent Placebo Dupixent Placebo Dupixent Placebo Dupixent Placebo EASI-50 78.1 29.5 68.8 24.6 65.2 22.0 80.2 37.5 70.7 28.9 EASI-75 68.8 23.0 51.3 14.7 44.2 11.9 68.9 23.2 57.3 14.5 IGA 0 or 1 39.1 11.5 37.9 10.3 36.1 8.5 38.7 12.4 26.8 4.8
Seeking Alpha • Sep 13

Connect Biopharma reports 1H results

Connect Biopharma press release (NASDAQ:CNTB): 1H Net loss totaled $59.8M. Cash, cash equivalents, and short-term and long-term investments were $212.9M as of June 30, 2022. The Company believes it has sufficient cash and investments to support planned operations into at least 2024 based on its current operating plans. Short-term and long-term investments are indicated as Investments: Financial Assets at Fair Value Through Other Comprehensive Income in the balance sheet.
分析記事 • Aug 12

We're Keeping An Eye On Connect Biopharma Holdings' (NASDAQ:CNTB) Cash Burn Rate

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...
分析記事 • Apr 29

We're Keeping An Eye On Connect Biopharma Holdings' (NASDAQ:CNTB) Cash Burn Rate

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
Seeking Alpha • Jan 12

Connect Biopharma's Latest Dermatitis Drug Update Fails To Pump Up Shares

Company’s stock sank after it released data on Phase 2b trials for its atopic dermatitis drug, a potential competitor to Regeneron-Sanofi blockbuster Dupixent. Loss-making Connect Biopharma says Phase 3 clinical trials of its CBP-201 drug for atopic dermatitis will begin in second half of this year. Connect Biopharma shares, which more than halved after its November release of initial Phase 2 clinical trial data, fell further after latest update.
分析記事 • Jan 01

We're Hopeful That Connect Biopharma Holdings (NASDAQ:CNTB) Will Use Its Cash Wisely

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

株主還元

CNTBUS BiotechsUS 市場
7D-39.8%-2.1%-1.1%
1Y-23.0%36.5%11.7%

業界別リターン: CNTB過去 1 年間で36.5 % の収益を上げたUS Biotechs業界を下回りました。

リターン対市場: CNTBは、過去 1 年間で11.7 % のリターンを上げたUS市場を下回りました。

価格変動

Is CNTB's price volatile compared to industry and market?
CNTB volatility
CNTB Average Weekly Movement17.7%
Biotechs Industry Average Movement9.5%
Market Average Movement6.9%
10% most volatile stocks in US Market15.2%
10% least volatile stocks in US Market2.9%

安定した株価: CNTBの株価は、 US市場と比較して過去 3 か月間で変動しています。

時間の経過による変動: CNTBの weekly volatility ( 18% ) は過去 1 年間安定していますが、依然としてUSの株式の 75% よりも高くなっています。

会社概要

設立従業員CEO（最高経営責任者ウェブサイト
201264Barry Quartwww.connectbiopharm.com

コネクト・バイオファーマ・ホールディングス・リミテッドは、米国で臨床段階のバイオ医薬品会社として事業を展開している。IL-4Raに対するヒト型モノクローナルIgG4抗体であるrademikibartを開発し、喘息および慢性閉塞性肺疾患（COPD）の急性増悪の治療薬として2つのフェーズ2試験を実施中。同社は2012年に設立され、カリフォルニア州サンディエゴに本社を置いている。

Connect Biopharma Holdings Limited 基礎のまとめ

Connect Biopharma Holdings の収益と売上を時価総額と比較するとどうか。
CNTB 基礎統計学
時価総額US$77.46m
収益（TTM）-US$68.99m
売上高(TTM)US$2.95m
26.4x
P/Sレシオ
-1.1x
PER（株価収益率

CNTB は割高か？

公正価値と評価分析を参照

収益と収入

最新の決算報告書（TTM）に基づく主な収益性統計
CNTB 損益計算書（TTM）
収益US$2.95m
売上原価US$0
売上総利益US$2.95m
その他の費用US$71.94m
収益-US$68.99m

直近の収益報告

Jun 30, 2026

次回決算日

該当なし

一株当たり利益（EPS）-1.10
グロス・マージン100.00%
純利益率-2,336.30%
有利子負債／自己資本比率0%

CNTB の長期的なパフォーマンスは？

過去の実績と比較を見る

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2026/09/17 12:46
終値2026/09/16 00:00
収益2026/06/30
年間収益2025/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。

シンプリー・ウォールストリート分析モデルを設計・構築した ご紹介します。

業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

Connect Biopharma Holdings Limited 8 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。12

アナリスト機関
Julian HarrisonBTIG
Edward NashCanaccord Genuity
Olivia BrayerCantor Fitzgerald & Co.