Connect Biopharma Q1 net loss $10.3M; cash $84M; initiates two Phase 2 rademikibart trials

Connect Biopharma Holdings Ltd

2025-Q1 EPS reported -$0.19 vs consensus -$1.92 ▲ beat (+90.1%)

Cash, equivalents and ST investments $84.0M as of March 31, 2025; runway into 2027.
Net loss $10.3M ($0.19/share) vs $8.7M ($0.16) in Q1 2024; R&D expense $6.6M, down $2.1M YoY.
Initiated Phase 2 Seabreeze STAT asthma and COPD studies for rademikibart; topline data expected 1H 2026.
Phase 2 data published in AJRCCM showed 420 mL FEV1 improvement vs placebo in eosinophilic asthma.

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