CNTB on Nasdaq
Connect Biopharma Holdings Ltd
Connect Biopharma, headquartered in San Diego, California, is a clinical-stage biopharmaceutical company dedicated to transforming care for asthma and chronic obstructive pulmonary disease (“COPD”).3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
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- TickerCNTB on Nasdaq1
- IndustryPharmaceutical Preparations1
- HeadquartersSan Diego, California1
- Incorporated inCayman Islands2
- Business address3580 Carmel Mountain Road, Suite 200, San Diego, Ca 921302
- Filer category, Emerging growth company2
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Connect Biopharma, headquartered in San Diego, California, is a clinical-stage biopharmaceutical company dedicated to transforming care for asthma and chronic obstructive pulmonary disease (“COPD”). The Company is advancing rademikibart, a next-generation, potentially best-in-class antibody designed to target interleukin-4-receptor alpha (“IL-4Rα”).3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development99¢$37.8M
- Income tax1¢$197.0K
Out of $64.0K in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $05 | $26.0M4 | $64.0K4 | |||
| Research and development | $80.5M6 | $96.6M6 | $53.0M5 | $29.3M4 | $37.8M4 | |
| Operating expenses | $69.1M5 | $48.5M4 | $58.1M4 | |||
| Operating income | -$98.1M6 | -$119.3M6 | -$69.1M5 | -$22.5M4 | -$58.1M4 | |
| Interest | $18.0K6 | $21.0K6 | $23.0K6 | |||
| Income before tax | -$202.0M6 | -$117.8M6 | -$62.0M5 | -$15.4M4 | -$55.3M4 | |
| Income tax | $266.0K6 | $298.0K6 | $120.0K5 | $223.0K4 | $197.0K4 | |
| Net income | -$202.3M6 | -$118.1M6 | -$62.1M5 | -$15.6M4 | -$55.5M4 | |
| Earnings per share | -$3.886 | -$2.156 | -$1.135 | -$0.284 | -$1.004 | |
| Earnings per share (diluted) | -$3.886 | -$2.156 | -$1.135 | -$0.284 | -$1.004 | |
| Shares (weighted, basic) | 52.2M shares6 | 55.0M shares6 | 55.1M shares5 | 55.2M shares4 | 55.7M shares4 | |
| Shares (weighted, diluted) | 55.1M shares5 | 55.2M shares4 | 55.7M shares4 |
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash | $154.8M6 | $267.7M6 | $78.9M5 | $105.7M5 | $78.2M4 | $38.3M4 |
| Receivables | $05 | $789.0K4 | $13.0K4 | |||
| Current assets | $275.1M6 | $155.8M6 | $122.6M5 | $97.0M4 | $50.9M4 | |
| Property, plant and equipment | $9.3M6 | $5.0M6 | $4.3M5 | $4.0M4 | $3.8M4 | |
| Intangible assets | $62.0K5 | $53.0K4 | $45.0K4 | |||
| Total assets | $291.1M6 | $174.0M6 | $127.4M5 | $101.3M4 | $56.1M4 | |
| Accounts payable | $2.2M5 | $342.0K4 | $2.0M4 | |||
| Current liabilities | $18.0M6 | $15.6M6 | $25.3M5 | $8.5M4 | $13.6M4 | |
| Long-term liabilities | $810.0K6 | $897.0K6 | $585.0K6 | |||
| Total liabilities | $18.8M6 | $16.5M6 | $25.9M5 | $9.1M4 | $14.1M4 | |
| Retained earnings | -$361.8M6 | -$479.8M6 | -$329.7M5 | -$345.4M4 | -$400.8M4 | |
| Shareholders’ equity | -$157.1M6 | $272.3M6 | $158.4M5 | $101.5M4 | $92.2M4 | $42.0M4 |
| Shares outstanding | 55.1M shares9 | 55.0M shares10 | 55.1M shares6 | 55.3M shares4 | 56.4M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | -$84.3M6 | -$101.5M6 | -$47.7M5 | -$23.6M4 | -$51.2M4 | |
| Depreciation and amortization | $634.0K6 | $1.0M6 | $720.0K5 | $660.0K4 | $704.0K4 | |
| Stock-based compensation | $5.4M5 | $6.7M4 | $3.7M4 | |||
| Capital spending | $3.8M6 | $4.4M6 | $81.0K5 | $750.0K4 | $434.0K4 | |
| Free cash flow | -$88.2M | -$105.9M | -$47.8M | -$24.4M | -$51.6M | |
| Cash from investing | -$5.2M6 | -$86.2M6 | $75.0M5 | -$3.5M4 | $9.8M4 | |
| Share buybacks | $566.0K6 | $06 | $06 | |||
| Cash from financing | $202.2M6 | -$85.0K6 | $45.0K5 | $227.0K4 | $1.1M4 |
Leadership
Who has led Connect Biopharma Holdings Ltd, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerBarry D. Quart Mar 16, 2026 to now11
- PresidentDavid Leslie Szekeres Mar 16, 2026 to now12
Board members and other officers (5)
- Senior Vice President, FinanceLisa Peraza Mar 16, 2026 to now13
- Board memberBarry D. Quart Mar 16, 2026 to now11
- Board memberJames A. Schoeneck Mar 16, 2026 to now14
- Board memberJean I. Liu Mar 16, 2026 to now15
- Board memberKaren J. Wilson Mar 16, 2026 to now16
Timeline
- Mar 16, 2026New chief executive Barry D. Quart becomes CEO11
Filings
158 filings to the SEC since October 2021: 5 annual reports, 5 quarterly reports, 20 major events, 16 insider forms, 33 large holders, 79 other. The latest 20:
- Oct 6, 2026SCHEDULE 13G EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Sep 30, 20268-K EDGAR
- Sep 15, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 202610-Q EDGAR
- Aug 12, 20268-K EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
- Jun 2, 20264 EDGAR
- Jun 1, 2026EFFECT EDGAR
- May 28, 2026CORRESP EDGAR
- May 22, 2026UPLOAD EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 15, 2026F-3 EDGAR
- May 12, 202610-Q EDGAR
- May 12, 20268-K EDGAR
- Apr 23, 20268-K EDGAR
The 158 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 29, 2026 | Huang JamesDirector | Buy | 150,000 | $2.48 | $372.0K | Form 4 |
| Mar 31, 2026 | Huang JamesDirector | Buy | 1,160,000 | $3.45 | $4.0M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BML Investment Partners, L.P.SCHEDULE 13G, 1 filing Oct 6, 202617
- Ikarian Capital, LLCSCHEDULE 13G/A, 2 filings Feb 17, 2026 to Aug 14, 202618
- Zheng WeiSCHEDULE 13G/A, 7 filings Feb 25, 2022 to Aug 14, 202619
- BioFortune IncSCHEDULE 13G, 5 filings Feb 25, 2022 to Apr 14, 202620
- Panacea Innovation LtdSCHEDULE 13D/A, 6 filings Feb 13, 2024 to Apr 1, 202621
- RA CAPITAL MANAGEMENT, L.P.SC 13D/A, 4 filings Dec 4, 2023 to Feb 27, 202422
- James HuangSC 13G/A, 2 filings Jan 3, 2023 to Oct 4, 202323
- Qiming Venture Partners V, L.P.SC 13G/A, 1 filing Feb 14, 202324
- Shanghai Minhui Enterprise Management Consulting Partnership (Limited Partnership)SC 13G, 1 filing Feb 13, 202325
- FMR LLCSC 13G/A, 2 filings Feb 9, 2022 to Feb 9, 202326
- Advantech Capital II L.P.SC 13G, 1 filing Feb 15, 202227
- Qiming Venture Partners VII, L.P.SC 13G, 1 filing Feb 14, 202228
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARDavid Leslie Szekeres, President
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- 14SEC EDGARJames A. Schoeneck, Board member
- 15SEC EDGARJean I. Liu, Board member
- 16SEC EDGARKaren J. Wilson, Board member
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