Connect Biopharma Holdings Ltd (CNTB) Form 10-Q — Aug 12, 2026
Connect Biopharma's Q2 2026 net loss widened to $17.3 million from $12.9 million a year ago as R&D spend doubled to $16.3 million on rademikibart clinical activity, while license revenue jumped to $2.8 million on a roughly $7 million Simcere regulatory milestone. For the first half of 2026, the net loss was $36.7 million versus $23.2 million in 1H 2025. The company ended the quarter with $31.5 million in cash, equivalents and short-term investments, bolstered by an $18.6 million net private placement closed March 31, 2026 at $3.25 per share. Management says this is sufficient for at least one year, though 1H operating cash burn of $31.9 million suggests future financing is likely.
Key figures
- Eps
- -$0.27 basic and diluted in Q2 2026 (-$0.61 for 1H 2026)
- Revenue
- $2.8M in Q2 2026 ($2.9M for 1H 2026), vs $48,000 in the year-ago periods, driven by a ~$7M Simcere regulatory milestone net of ~$4M cost sharing
- Net Income
- -$17.3M in Q2 2026 vs -$12.9M in Q2 2025; -$36.7M for 1H 2026 vs -$23.2M in 1H 2025
- Total Assets
- $43.5M as of June 30, 2026
- Cash Position
- $27.0M cash and equivalents plus $4.5M short-term investments = $31.5M total as of June 30, 2026
- Shares Outstanding
- 62974309
- Ga expense q2 2026
- $4.1M vs $4.7M year-ago
- Rnd expense q2 2026
- $16.3M vs $8.8M year-ago (rademikibart costs $12.5M of the total)
- Q2 milestone achieved
- ~$7M regulatory-based milestone; ~$4M time-based milestone lapsed
- Topline data expected
- September 2026 (Seabreeze STAT asthma and COPD studies)
- Simcere upfront received
- $21M
- Operating cash burn 1h 2026
- -$31.9M vs -$22.6M year-ago
- Private placement march 2026
- $20.2M gross / $18.6M net at $3.25 per share for 6,130,000 shares
- Simcere remaining milestones
- up to approximately $99M
Price after filing
Close on the filing date to close N calendar days later (from $2.15). Historical, not a forecast.
AI analysis
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