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Connect Biopharma Holdings
(NASDAQ:CNTB)
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Rating:46Neutral
Price Target:
$0.96
▼(-60.86% Downside)
Action:Reiterated
Date:10/02/26
The score is held down primarily by weak financial performance (zero reported 2025 revenue, large losses, and ongoing cash burn) and bearish technicals (price below all key moving averages with negative MACD). Positive Phase 2 COPD/asthma readouts provide a meaningful catalyst, but the negative earnings profile and financing dependence keep the overall score below average.
Positive Factors
COPD Phase 2 efficacy
The COPD results provide meaningful clinical validation for rademikibart in a serious respiratory setting, with lower treatment failure and exacerbations than placebo. If confirmed in later development, this efficacy could support differentiation, regulatory progress, and a broader respiratory franchise.
Negative Factors
No recurring product revenue
The absence of reported 2025 revenue leaves the company without a durable operating base to offset research and development costs. Substantial losses increase dependence on successful clinical execution and future financing, making earnings quality and visibility weak over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
COPD Phase 2 efficacy
The COPD results provide meaningful clinical validation for rademikibart in a serious respiratory setting, with lower treatment failure and exacerbations than placebo. If confirmed in later development, this efficacy could support differentiation, regulatory progress, and a broader respiratory franchise.
Read all positive factors
Connect Biopharma Holdings (CNTB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$54.79M
Dividend YieldN/A
Average Volume (3M)7.65M
Price to Earnings (P/E)―
Beta (1Y)-0.32
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees64
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.88
Shares Outstanding62,974,308
10 Day Avg. Volume18,831,113
30 Day Avg. Volume7,646,489
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)3.74
Price to Sales (P/S)2452.52
P/FCF Ratio-3.04
Enterprise Value/Market Cap2.17
Enterprise Value/Revenue40.44
Enterprise Value/Gross Profit40.44
Enterprise Value/Ebitda-2.29
Forecast
1Y Price Target
$6.86Price Target Upside179.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-6.7
Revenue Forecast (FY)$50.28M
Connect Biopharma Holdings Business Overview & Revenue Model
Company Description
Connect Biopharma Holdings Limited is a clinical-stage biopharmaceutical company dedicated to discovering and advancing immune modulators. Its primary objective is to develop treatments for serious autoimmune diseases and various inflammatory cond...
How the Company Makes Money
Connect Biopharma has historically generated little to no recurring revenue from product sales because it is a clinical-stage company without marketed, approved therapies. Its reported revenue, when present, has primarily come from collaboration-r...
Connect Biopharma Holdings Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.94M | 64.00K | 26.03M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.94M | 64.00K | 26.03M | 0.00 | 0.00 | 0.00 |
| EBITDA | -51.79M | -54.58M | -14.74M | -61.27M | -116.74M | -201.36M |
| Net Income | -51.79M | -55.48M | -15.63M | -62.11M | -118.09M | -202.27M |
Balance Sheet | ||||||
| Total Assets | 43.47M | 56.08M | 101.28M | 127.38M | 174.01M | 291.05M |
| Cash, Cash Equivalents and Short-Term Investments | 31.49M | 44.34M | 93.71M | 118.30M | 152.42M | 267.72M |
| Total Debt | 596.00K | 690.00K | 178.00K | 465.00K | 431.00K | 125.00K |
| Total Liabilities | 16.61M | 14.10M | 9.12M | 25.88M | 16.52M | 18.80M |
| Stockholders Equity | 26.86M | 41.98M | 92.17M | 101.50M | 157.49M | 272.26M |
Cash Flow | ||||||
| Free Cash Flow | -31.93M | -51.64M | -24.36M | -48.22M | -103.55M | -93.03M |
| Operating Cash Flow | -31.93M | -51.21M | -23.61M | -47.93M | -99.27M | -85.57M |
| Investing Cash Flow | 12.52M | 9.82M | -3.45M | 75.16M | -83.44M | -5.34M |
| Financing Cash Flow | 19.66M | 1.09M | 227.00K | -246.00K | -91.28K | 206.66M |
Connect Biopharma Holdings Technical Analysis
Negative
2.45
Price Trends
1.78
Negative
2.01
Negative
2.31
Negative
Market Momentum
-0.27
Negative
29.97
Positive
4.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNTB, the sentiment is Negative. The current price of 2.45 is above the 20-day moving average (MA) of 1.10, above the 50-day MA of 1.78, and above the 200-day MA of 2.31, indicating a bearish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 29.97 is Positive, neither overbought nor oversold. The STOCH value of 4.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNTB.
Connect Biopharma Holdings Risk Analysis
Connect Biopharma Holdings disclosed 111 risk factors in its most recent earnings report. Connect Biopharma Holdings reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Connect Biopharma Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $54.79M | -0.99 | -150.47% | ― | ― | ― | |
45 Neutral | $672.63K | ― | -26.63% | ― | 30.12% | -165.46% | |
45 Neutral | $13.77M | -0.06 | -443.08% | ― | ― | 75.09% | |
44 Neutral | $3.03M | -0.11 | -100.19% | ― | ― | 95.51% | |
42 Neutral | $4.10M | -0.23 | -166.67% | ― | ― | 88.77% |
* Healthcare Sector Average
CNTB
Connect Biopharma Holdings
0.87
-0.95
-52.20%
SCNI
Scinai Immunotherapeutics
1.18
-12.42
-91.32%
GTBP
GT Biopharma
6.68
-11.76
-63.77%
REVB
Revelation Biosciences
0.76
-4.60
-85.84%
DRMA
Dermata Therapeutics
1.02
-3.20
-75.83%
CERO
CERo Therapeutics Holdings
0.01
-3.32
-99.70%
Connect Biopharma Holdings Corporate Events
Business Operations and StrategyProduct-Related Announcements
Connect Biopharma reports positive Phase 2 COPD results
Positive
Sep 30, 2026
On September 30, 2026, Connect Biopharma reported positive preliminary topline data from its global Phase 2 Seabreeze STAT study of rademikibart as an add-on treatment for adults with COPD and type 2 inflammation experiencing acute exacerbations. ...
Business Operations and Strategy
Connect Biopharma reports positive Phase 2 asthma results
Positive
Sep 15, 2026
On September 15, 2026, Connect Biopharma reported topline data from its global Phase 2 Seabreeze STAT asthma trial of rademikibart as an add-on therapy for acute exacerbations in adults and adolescents with type 2 inflammation. In the 160-patient ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.