Connect Biopharma 2025 Q3 Earnings 33.6% Wider Net Loss Amid Sharp Revenue Decline

Connect Biopharma (CNTB) reported its fiscal 2025 Q3 earnings on Nov 13, 2025, with results reflecting a dramatic revenue contraction and deepening losses. The company’s total revenue plummeted 98.7% year-over-year to $16,000, while its net loss widened by 33.6% to $17.2 million. Management highlighted cash reserves of $54.8 million as of September 30, 2025, projecting sufficiency to fund operations through 2027.

Revenue

Connect Biopharma’s total revenue of $16,000 in Q3 2025 represented a 98.7% decline from $1.22 million in the prior-year period, driven entirely by cost reimbursements under the Simcere License Agreement for clinical materials. License and collaboration revenue accounted for the entirety of the company’s total revenue, with no other revenue streams reported during the quarter.

Earnings/Net Income

The company’s losses widened to $0.31 per share in Q3 2025, a 34.8% increase in per-share loss compared to $0.23 in Q3 2024. Net loss surged to $17.2 million, up 33.6% from $12.88 million in the prior-year period, reflecting elevated research and development expenses tied to its pipeline. The deteriorating earnings underscore significant operational challenges.

Post-Earnings Price Action Review

Following the earnings report, Connect Biopharma’s stock experienced mixed short-term performance. Shares rose 2.55% on the latest trading day but declined 4.45% during the subsequent full trading week, with a steeper 11.54% month-to-date drop. The post-earnings price action highlights investor skepticism amid the company’s revenue collapse and widening losses, though cash reserves and pipeline progress may provide some near-term stability.

CEO Commentary

The CEO emphasized the company’s focus on addressing key challenges during the Q3 earnings call, stating, “While our revenue of $16,000 reflects ongoing hurdles, we remain committed to advancing rademikibart through Phase 2 trials and leveraging our partnership with Simcere to unlock long-term value.”

Guidance

Connect Biopharma expects cash, cash equivalents, and short-term investments to fund operations through 2027, aligning with its current operating plans. The company aims to report topline data for its Phase 2 acute exacerbation studies in asthma and COPD by mid-2026.

Additional News

1. Relocation Strategy: In February 2025, Connect Biopharma relocated its corporate headquarters to San Diego, California, as part of its U.S.-centric expansion strategy.

2. Clinical Progress: The company presented positive data at the European Respiratory Society Congress 2025, showing improved lung function and asthma control with rademikibart.

3. Strategic Collaboration: Connect Biopharma maintains an exclusive license agreement with Simcere Pharmaceutical Co., Ltd. for rademikibart’s development and commercialization in Greater China.