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SAN DIEGO - Connect Biopharma Holdings Limited (NASDAQ:CNTB), a $90 million market cap clinical-stage biopharmaceutical company, has regained compliance with Nasdaq’s minimum bid price requirement, the company announced Thursday.
The company received confirmation from Nasdaq’s Listing Qualifications Department that as of July 15, its American Depositary Shares maintained a closing bid price of at least $1.00 for a minimum of 10 consecutive business days, satisfying the exchange’s Listing Rule 5450(a)(1). The stock has shown remarkable momentum, gaining over 40% in the past week and now trading near its 52-week high of $1.65. InvestingPro data reveals 15+ additional insights about CNTB’s performance and valuation.
With compliance restored, Connect Biopharma’s shares will continue to be listed and traded on Nasdaq, and the matter is now closed, according to the company’s statement.
Connect Biopharma, headquartered in San Diego, focuses on developing treatments for inflammatory diseases. The company’s lead candidate, rademikibart, is a next-generation antibody targeting IL-4Rα currently in global clinical studies for acute exacerbations of asthma and chronic obstructive pulmonary disease (COPD).
The company also maintains an exclusive license and collaboration agreement with Simcere for rademikibart in China.
The announcement was made in a press release issued by Connect Biopharma.
In other recent news, Connect Biopharma Holdings Limited announced that its partner, Simcere Pharmaceutical, has submitted a New Drug Application in China for rademikibart, a treatment for atopic dermatitis. This development is part of their collaboration, which allows Simcere exclusive rights to develop, manufacture, and commercialize the drug in Greater China. Connect Biopharma is eligible to receive milestone payments up to $110 million and tiered royalties on net sales. Meanwhile, Connect Biopharma reported positive clinical data for rademikibart in treating asthma, showing improved lung function and reduced exacerbations in patients with eosinophilic-driven type 2 asthma. These findings were presented at the European Academy of Allergy and Clinical Immunology Annual Congress. Additionally, Connect Biopharma has commenced its Phase 2 Seabreeze STAT Asthma study in the U.S. with FDA approval. This study will assess rademikibart’s safety and efficacy as an add-on therapy for acute asthma exacerbations. The company plans to release topline data from this study in the first half of 2026.
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