Connect Biopharma Q2 net loss widens to $17.3 million; cash totals $31.5 million
Connect Biopharma reported results for the three and six months ended June 30, 2026. Revenue rose to $2.8 million for the quarter, mainly from a regulatory milestone under its Simcere license, but the net loss widened to $17.3 million, or $0.27 per share, from $12.9 million, or $0.23 per share, a year earlier, as research and development expense nearly doubled. The company said its $31.5 million in cash, cash equivalents and short-term investments should fund operations for at least one year from the release date, and it expects topline data from its two Phase 2 Seabreeze STAT studies in September 2026.
Key points
- Q2 2026 license and collaboration revenue was $2.8 million, versus $48,000 in Q2 2025, primarily from a regulatory-based milestone net of development cost sharing.
- Q2 2026 research and development expense was $16.3 million, up from $8.8 million, mainly due to rademikibart development costs for the Seabreeze STAT studies.
- Q2 2026 net loss was $17.3 million, or $0.27 per share, compared with $12.9 million, or $0.23 per share, in Q2 2025.
- Cash, cash equivalents and short-term investments were $31.5 million as of June 30, 2026, down from $44.3 million at December 31, 2025; topline data from the Phase 2 studies are expected in September 2026.
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2026.
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