CNTB

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Connect Biopharma Holdings Limited

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Key Metrics

Previous Close: $2.46
52-Week Range: $1.23 – $3.82
Market Cap: $143.58M
P/E (TTM): —
EPS (TTM): -1.19
Dividend Yield: —

Advanced Metrics

Price/Book: 5.34
PEG Ratio: —
Return on Equity: -140.51%
Return on Assets: -69.75%
Gross Margin: 100.00%
Operating Margin: -635.98%
Profit Margin: 0.00%
Current Ratio: 2.37
Debt/Equity: 0.02
Total Debt: $596.00K
Free Cash Flow: $-34.71M
Revenue Growth: 5666.70%
Earnings Growth: —
Enterprise Value: $111.75M

CNTB Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$26.03M	$64.00K
Research & Development	$96.63M	$53.00M	$29.26M	$37.80M
Selling, General & Admin	$20.81M	$16.05M	$19.23M	$20.34M
Operating Expenses	$116.51M	$69.06M	$48.48M	$58.14M
Operating Income	-$116.51M	-$69.06M	-$22.45M	-$58.07M
EBITDA	-$116.74M	-$68.34M	-$21.79M	-$57.37M
Pretax Income	-$117.79M	-$61.99M	-$15.40M	-$55.28M
Income Tax	$298.00K	$120.00K	$223.00K	$197.00K
Net Income	-$118.09M	-$62.11M	-$15.63M	-$55.48M
Diluted EPS	-2.10	-1.13	-0.28	-1.00
Diluted Shares	54.97M	55.07M	55.21M	55.66M

CNTB Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$79.01M	$105.66M	$78.23M	$38.34M
Receivables	$232.00K	$351.00K	$1.05M	$161.00K
Current Assets	$155.78M	$122.55M	$96.96M	$50.93M
Total Assets	$174.01M	$127.38M	$101.28M	$56.08M
Current Liabilities	$15.62M	$25.29M	$8.46M	$13.61M
Total Debt	$431.00K	$465.00K	$178.00K	$690.00K
Total Liabilities	$16.52M	$25.88M	$9.12M	$14.10M
Retained Earnings	-$479.84M	-$329.73M	-$345.36M	-$400.83M
Shareholders' Equity	$157.49M	$101.50M	$92.17M	$41.98M
Working Capital	$140.16M	$97.26M	$88.50M	$37.32M

CNTB Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$101.52M	-$47.74M	-$23.61M	-$51.21M
Capital Expenditure	-$4.41M	-$81.00K	-$750.00K	-$434.00K
Free Cash Flow	-$105.92M	-$47.82M	-$24.36M	-$51.64M
Depreciation & Amortisation	$1.03M	$720.00K	$660.00K	$704.00K
Stock-Based Compensation	$6.91M	$5.40M	$6.73M	$3.73M
Investing Cash Flow	-$86.24M	$74.98M	-$3.45M	$9.82M
Financing Cash Flow	-$85.00K	$45.00K	$227.00K	$1.09M
Share Repurchases	$0.00	$0.00	—	—
Net Change in Cash	-$187.85M	$27.28M	-$26.84M	-$40.30M

CNTB Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$48.00K	$16.00K	$0.00	$169.00K
Research & Development	$6.63M	$8.77M	$11.11M	$11.28M	$15.03M
Selling, General & Admin	$4.81M	$4.70M	$6.58M	$4.24M	$4.75M
Operating Expenses	$11.45M	$13.47M	$17.69M	$15.53M	$19.78M
Operating Income	-$11.45M	-$13.42M	-$17.68M	-$15.53M	-$19.61M
EBITDA	-$11.27M	-$13.25M	-$17.50M	-$15.35M	-$19.44M
Pretax Income	-$10.22M	-$12.84M	-$17.14M	-$15.08M	-$19.35M
Income Tax	$54.00K	$55.00K	$61.00K	$27.00K	$48.00K
Net Income	-$10.27M	-$12.90M	-$17.20M	-$15.11M	-$19.40M
Diluted EPS	-0.19	-0.23	-0.31	-0.27	-0.34
Diluted Shares	55.35M	55.50M	55.72M	56.07M	56.55M

CNTB Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$47.71M	$40.63M	$37.84M	$38.34M	$46.03M
Receivables	$175.00K	$193.00K	$174.00K	$161.00K	$2.70M
Current Assets	$87.75M	$77.76M	$62.60M	$50.93M	$55.02M
Total Assets	$92.69M	$82.72M	$67.36M	$56.08M	$60.07M
Current Liabilities	$8.56M	$10.74M	$11.43M	$13.61M	$17.05M
Total Debt	$940.00K	$870.00K	$781.00K	$690.00K	$693.00K
Total Liabilities	$9.79M	$11.38M	$11.99M	$14.10M	$17.44M
Retained Earnings	-$355.63M	-$368.53M	-$385.73M	-$400.83M	-$420.23M
Shareholders' Equity	$82.90M	$71.34M	$55.37M	$41.98M	$42.62M
Working Capital	$79.19M	$67.02M	$51.17M	$37.32M	$37.98M

CNTB Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$9.96M	-$12.59M	-$17.41M	-$11.25M	-$16.00M
Capital Expenditure	-$81.00K	-$303.00K	-$34.00K	-$16.00K	—
Free Cash Flow	-$10.04M	-$12.89M	-$17.44M	-$11.27M	-$16.00M
Depreciation & Amortisation	$173.00K	$171.00K	$179.00K	$181.00K	$164.00K
Stock-Based Compensation	$942.00K	$951.00K	$916.00K	$917.00K	$1.20M
Investing Cash Flow	-$20.64M	$5.13M	$14.35M	$10.98M	$6.00M
Financing Cash Flow	$2.00K	$161.00K	$215.00K	$715.00K	$17.62M
Net Change in Cash	-$30.60M	-$7.30M	-$2.85M	$449.00K	$7.62M

Market Snapshot

About

Connect Biopharma Holdings Limited is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and immunologic diseases. Headquartered in San Diego, California, with research facilities in Suzhou, China, the company leverages its expertise in T cell biology and immune modulation. Connect Biopharma's lead product candidate, CBP-201, is an anti-IL-4Rα antibody being developed for atopic dermatitis and other allergic inflammatory conditions. The company has additional programs targeting various immune-mediated diseases using its proprietary technology platforms. Connect Biopharma utilizes a dual-geography strategy, conducting clinical development in both China and the United States to accelerate timelines and access diverse patient populations.