Connect Biopharma Reports First Quarter 2025 Financial Results and Provides Business Update
Clinical Trials and Data: Connect Biopharma has initiated Phase 2 Seabreeze STAT studies for rademikibart as an adjunct treatment for acute exacerbations in asthma and COPD, with topline data expected in the first half of 2026. Positive results from a previous global Phase 2 trial indicate rademikibart's potential as a novel biologic treatment for asthma patients with Type 2 inflammation.
Financial Overview: The company reported a strong financial position with $84 million in cash, sufficient to fund operations into 2027, despite a net loss of $10.3 million for Q1 2025, which reflects ongoing investments in research and development.
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Plus Therapeutics Prices Public Offering, Raising $15 Million
- Financing Update: Plus Therapeutics announced the pricing of 39,473,684 units at $0.38 each, expecting to raise approximately $15 million, which will provide fresh capital to advance its precision diagnostics and radiopharmaceutical programs targeting central nervous system cancers.
- Market Performance: Connect Biopharma's stock rose 5.96% to $2.31 without any new news, reflecting ongoing investor interest in its lead candidate rademikibart's new mechanism of action data and strategic priorities for 2026.
- Sector Momentum: ABVC BioPharma's shares increased by 3.37% to $2.15, suggesting that investor interest may be driven by broader momentum in the biotech sector despite the absence of new corporate updates.
- Clinical Progress: Traws Pharma's stock rose 2.82% to $1.82 following its announcement of filing a U.S. IND application for tivoxavir marboxil, further supporting investor optimism around the company's pipeline.
BTIG Affirms Buy Rating for Connect Biopharma Holdings, Keeps $10 Price Target Intact
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