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SAN DIEGO - Connect Biopharma Holdings Limited (NASDAQ:CNTB), a biopharmaceutical company specializing in treatments for asthma and chronic obstructive pulmonary disease (COPD), has been notified by Nasdaq that its stock price has fallen below the minimum required for continued listing. The notification, dated March 24, 2025, indicated that the company’s American Depositary Shares (ADSs) had closed below the $1.00 threshold for 30 consecutive business days. The stock, currently trading at $0.70, has declined 44.93% year-to-date and is significantly below its 52-week high of $2.66, according to InvestingPro data.
The company, which is currently advancing a potentially leading anti-interleukin-4-receptor alpha antibody named rademikibart, now has until September 22, 2025, to regain compliance with the Nasdaq’s minimum bid price rule. To achieve this, the bid price of Connect Biopharma’s ADSs must close at $1.00 or higher for at least ten consecutive business days within the 180-day grace period provided. Despite the price challenges, InvestingPro analysis suggests the stock is undervalued, with a strong financial health score and a current ratio of 12.04, indicating robust short-term liquidity. Subscribers to InvestingPro can access 8 additional key insights about CNTB’s financial health and market position.
While the notice does not immediately affect the listing or trading of the company’s ADSs, which continue to trade under the symbol CNTB, it does require the company to monitor its share price closely and explore options to meet the Nasdaq’s requirements. If compliance is not regained by the deadline, Connect Biopharma may be eligible for an additional 180-day period, contingent upon meeting certain conditions, including a shift to the Nasdaq Capital Market.
Connect Biopharma is known for its clinical-stage work on rademikibart, which has shown promise in Phase 2 trials for asthma by demonstrating efficacy and safety, with significant reductions in exacerbations and rapid improvements in lung function.
Despite the current challenges with its stock price, the company’s research and development efforts continue, with the goal of addressing the substantial unmet need in acute asthma and COPD exacerbations. The company has not commented on the potential impact of the Nasdaq notice on its operations or development programs.
The information in this article is based on a press release statement from Connect Biopharma Holdings Limited.
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