Connect Biopharma (CNTB)
Market Price (6/1/2026): $2.42 | Market Cap: $136.8 MilSector: Health Care | Industry: Biotechnology
Connect Biopharma (CNTB)
Market Price (6/1/2026): $2.42Market Cap: $136.8 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -76% Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. | Weak multi-year price returns2Y Excs Rtn is -5.6% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -66 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -28427% Expensive valuation multiplesP/SPrice/Sales ratio is 604x Stock price has recently run up significantly12M Rtn12 month market price return is 196% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -99% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1709% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -24572%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -24723% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% High stock price volatilityVol 12M is 105% Key risksCNTB key risks include [1] potential failure to develop and approve its pipeline, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -76% |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Weak multi-year price returns2Y Excs Rtn is -5.6% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -66 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -28427% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 604x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 196% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -99% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1709% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -24572%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -24723% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% |
| High stock price volatilityVol 12M is 105% |
| Key risksCNTB key risks include [1] potential failure to develop and approve its pipeline, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Connect Biopharma (CNTB) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Ongoing clinical trial progress and positive interim data for rademikibart in asthma and COPD. Connect Biopharma continued advancing its lead asset, rademikibart, with ongoing enrollment in the Phase 2 Seabreeze STAT studies for acute exacerbations in asthma and chronic obstructive pulmonary disease (COPD), with topline data anticipated mid-2026. An independent Data Monitoring Committee (DMC) completed an interim review in April 2026, recommending no changes to the sample size and confirming no safety concerns for these studies, indicating smooth trial progression. Additionally, positive topline data from a Phase 1 intravenous (IV) rademikibart study, announced in March 2026, demonstrated rapid onset and sustained lung function improvement.
2. Successful private placement extended cash runway. The company completed a private placement financing on March 31, 2026, raising $20.2 million in gross proceeds and an estimated $18.6 million in net proceeds. This capital injection bolstered cash and cash equivalents to $46.0 million as of March 31, 2026, and is expected to fund operations into the second half of 2027. This secured funding helps alleviate near-term financial concerns, providing stability to the stock.
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Stock Movement Drivers
Fundamental Drivers
The 0.8% change in CNTB stock from 2/28/2026 to 5/31/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 5312026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.47 | 2.49 | 0.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 0 | 0.0% |
| P/S Multiple | � | 604.3 | 0.0% |
| Shares Outstanding (Mil) | 55 | 57 | -2.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2026 to 5/31/2026| Return | Correlation | |
|---|---|---|
| CNTB | 0.8% | |
| Market (SPY) | 10.6% | 3.9% |
| Sector (XLV) | -6.3% | 3.0% |
Fundamental Drivers
The -11.4% change in CNTB stock from 11/30/2025 to 5/31/2026 was primarily driven by a -2.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 5312026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.81 | 2.49 | -11.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 0 | 0.0% |
| P/S Multiple | � | 604.3 | 0.0% |
| Shares Outstanding (Mil) | 55 | 57 | -2.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
11/30/2025 to 5/31/2026| Return | Correlation | |
|---|---|---|
| CNTB | -11.4% | |
| Market (SPY) | 11.3% | 8.7% |
| Sector (XLV) | -4.4% | 1.7% |
Fundamental Drivers
The 196.4% change in CNTB stock from 5/31/2025 to 5/31/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 5312026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.84 | 2.49 | 196.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 0 | 0.0% |
| P/S Multiple | � | 604.3 | 0.0% |
| Shares Outstanding (Mil) | 55 | 57 | -2.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2025 to 5/31/2026| Return | Correlation | |
|---|---|---|
| CNTB | 196.4% | |
| Market (SPY) | 29.8% | -2.2% |
| Sector (XLV) | 14.7% | -1.0% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 5/31/2026| Return | Correlation | |
|---|---|---|
| CNTB | 129.7% | |
| Market (SPY) | 88.1% | 7.0% |
| Sector (XLV) | 22.9% | 4.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CNTB Return | -72% | -83% | 36% | 17% | 104% | -16% | -87% |
| Peers Return | 23% | 20% | 15% | 7% | 31% | -3% | 133% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| CNTB Win Rate | 60% | 25% | 58% | 42% | 67% | 40% | |
| Peers Win Rate | 57% | 63% | 57% | 57% | 60% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| CNTB Max Drawdown | - | -91% | -66% | -57% | -60% | -41% | |
| Peers Max Drawdown | -22% | -19% | -22% | -26% | -27% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: REGN, AMGN, LLY, ABBV, INCY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
| Event | CNTB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.2% | -18.8% |
| % Gain to Breakeven | 67.4% | 23.1% |
| Time to Breakeven | 74 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -16.8% | -7.8% |
| % Gain to Breakeven | 20.2% | 8.5% |
| Time to Breakeven | 24 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 19 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.5% | -6.7% |
| % Gain to Breakeven | 34.1% | 7.1% |
| Time to Breakeven | 14 days | 31 days |
In The Past
Connect Biopharma's stock fell -40.2% during the 2025 US Tariff Shock. Such a loss loss requires a 67.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | CNTB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -40.2% | -18.8% |
| % Gain to Breakeven | 67.4% | 23.1% |
| Time to Breakeven | 74 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 19 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -25.5% | -6.7% |
| % Gain to Breakeven | 34.1% | 7.1% |
| Time to Breakeven | 14 days | 31 days |
In The Past
Connect Biopharma's stock fell -40.2% during the 2025 US Tariff Shock. Such a loss loss requires a 67.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Connect Biopharma (CNTB)
AI Analysis | Feedback
An early-stage Sanofi or Regeneron, aiming to develop the next big drug for allergic and autoimmune diseases, much like Dupixent.
A clinical-stage AbbVie or Amgen, focused on discovering new treatments for autoimmune diseases.
AI Analysis | Feedback
- CBP-201: An anti-interleukin-4 receptor alpha antibody in Phase IIb clinical trials for inflammatory allergic diseases like atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps.
- CBP-307: A small molecule modulator of sphingosine 1-phosphate receptor 1 in Phase II for autoimmune-related inflammation diseases.
- CBP-174: A small molecule histamine receptor 3 antagonist in preclinical stage for treating chronic itch associated with skin inflammation.
- CBP-233: A humanized antibody against interleukin-33 in preclinical stage for T helper 2 inflammation.
AI Analysis | Feedback
Connect Biopharma Holdings Limited (CNTB) is a clinical-stage biopharmaceutical company focused on the discovery and development of immune modulators. As described, their product candidates are currently in various stages of clinical trials (Phase IIb, Phase II, and preclinical stage) and are not yet approved for commercial sale. Therefore, Connect Biopharma does not have major customers in the traditional sense, as they are not currently selling commercial products to individuals or other companies.
AI Analysis | Feedback
| Supplier Name | Symbol |
|---|---|
| WuXi Biologics (Cayman) Inc. | 2269.HK |
| WuXi AppTec Co., Ltd. | 2359.HK |
| Pharmaron (Beijing) Co., Ltd. | 2268.HK |
| Lonza Group AG | LONN.SW |
AI Analysis | Feedback
Barry Quart, Pharm.D. Chief Executive Officer and Director
Barry Quart brings over three decades of experience in the biotechnology and pharmaceutical sectors. He has personally led several early-stage biotech companies through late-stage clinical development and regulatory strategy, resulting in nine U.S. Food and Drug Administration (FDA) approved drugs. Prior to joining Connect Biopharma in June 2024, Dr. Quart served as CEO at Heron Therapeutics, where he oversaw the development and approval of four drugs. He also co-founded Ardea Biosciences, Inc. in 2006, leading it as President and CEO through its acquisition by AstraZeneca PLC in 2012.
David Szekeres President
David Szekeres is an experienced life science executive with a strong background in operational, commercial, corporate development/strategy, and legal expertise. He was appointed President of Connect Biopharma in June 2024. Previously, Mr. Szekeres served as Executive Vice President and Chief Operating Officer of Heron Therapeutics. His prior roles also include Chief Business Officer and General Counsel of Regulus Therapeutics and Head of Mergers & Acquisitions at Life Technologies Corporation.
Kimberly J. Manhard Chief Development Officer
Kimberly J. Manhard has over 25 years of experience in drug development, regulatory affairs, and pharmaceutical operations, and has been instrumental in the development and approval of eight drugs across multiple therapeutic categories. She previously served as Executive Vice President, Drug Development, and director of Heron Therapeutics, where she played a key role in the development and regulatory approvals of oncology care products. Prior to Heron, she was Senior Vice President of Regulatory Affairs and Development Operations at Ardea Biosciences, Inc., which was acquired by AstraZeneca. Her experience also includes regulatory positions at Exelixis, Agouron Pharmaceuticals, Bristol-Myers Squibb Company, and Eli Lilly and Company.
Lisa Peraza Senior Vice President, Finance
Lisa Peraza was appointed Vice President, Finance, for Connect Biopharma, effective August 12, 2024. She is a licensed Certified Public Accountant (C.P.A.) and has a background at Heron Therapeutics.
Jeff Cohn, J.D. General Counsel and Corporate Secretary
Jeff Cohn serves as the General Counsel and Corporate Secretary for Connect Biopharma.
AI Analysis | Feedback
Connect Biopharma (CNTB) faces several key risks inherent to its nature as a clinical-stage biopharmaceutical company. These risks are primarily associated with the lengthy, costly, and uncertain process of drug development and commercialization.
- Clinical Trial Failure Risk
Connect Biopharma's most advanced product candidates, CBP-201 and CBP-307, are in Phase II/IIb clinical trials. CBP-201, an anti-interleukin-4 receptor alpha antibody, is in Phase IIb for inflammatory allergic diseases, including atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps. It has shown positive results in a global Phase 2b trial for atopic dermatitis and a China-specific pivotal trial is ongoing with top-line results anticipated. CBP-307, a small molecule modulator of sphingosine 1-phosphate receptor 1 (S1P1), is in Phase II for autoimmune-related inflammation diseases. While CBP-307 has completed enrollment for its Phase 2 ulcerative colitis trial, and some secondary endpoints were met, the primary endpoint was not met in the 12-week induction phase. The success of these trials is critical, as clinical trials can fail at any stage due to lack of efficacy, safety concerns, or other issues. A failure would result in significant financial losses and could jeopardize the company's future. - Regulatory Approval Risk
Even if Connect Biopharma's clinical trials demonstrate positive results, there is no guarantee that its product candidates will receive regulatory approval from agencies such as the FDA or China's National Medical Products Administration (NMPA). The regulatory approval process is rigorous and can be unpredictable, potentially requiring additional studies, leading to delays, or even outright rejection. Connect Biopharma aims for a potential NDA approval for CBP-201 in China as early as 2025. Delays or failure to obtain regulatory approvals would significantly hinder the company's ability to commercialize its drugs and generate revenue. - Intense Competition
Connect Biopharma operates in highly competitive therapeutic areas. For CBP-201, targeting the IL-4Rα pathway, there is established competition, most notably Dupixent (dupilumab) developed by Sanofi and Regeneron, which is already approved for atopic dermatitis and asthma and has set a high standard for efficacy and safety. Connect Biopharma's rademikibart (CBP-201) is being positioned as a next-generation IL-4Rα antibody with potential for differentiated efficacy and safety. Similarly, for CBP-307, which is an S1P1 modulator, the market for autoimmune diseases already includes approved S1P receptor modulators like fingolimod and ozanimod, as well as numerous other drugs in development. The competitive landscape means Connect Biopharma must demonstrate superior efficacy, safety, or other advantages to capture market share.
AI Analysis | Feedback
The primary clear emerging threat for Connect Biopharma is the intense competition from already established and highly successful pharmaceutical products targeting the same mechanisms and indications as their lead product candidate, CBP-201. Specifically, CBP-201, an anti-interleukin-4 receptor alpha antibody in Phase IIb clinical trials for atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps, faces a significant challenge from Dupilumab (Dupixent), developed by Sanofi and Regeneron. Dupilumab is a blockbuster drug that targets the same IL-4Rα pathway and is already approved and widely prescribed for these exact conditions, having established a dominant market position years prior to CBP-201's current stage of development. This established market leader poses a substantial hurdle for CBP-201's future commercial viability, requiring significant differentiation in efficacy, safety, or cost to compete effectively.
AI Analysis | Feedback
Connect Biopharma (CNTB) Addressable Markets
Connect Biopharma's main products target several significant addressable markets globally and in the U.S.:
- CBP-201 (anti-interleukin-4 receptor alpha antibody) is in Phase IIb clinical trial for the treatment of inflammatory allergic diseases, including atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps:
- For **Atopic Dermatitis**: The global atopic dermatitis drugs market was estimated at approximately USD 12.1 billion in 2024 and is projected to reach USD 31 billion by 2034. The U.S. atopic dermatitis drugs market generated USD 4.7 billion in 2023 and is expected to reach USD 13.1 billion by 2034. Other sources suggest the global market was USD 15.92 billion in 2025, projected to reach USD 33.42 billion by 2035.
- For **Asthma**: The global asthma market size was around USD 27 billion in 2024 and is expected to grow through 2025–2034. The U.S. asthma market was valued at approximately USD 21.5 billion in 2024. Another report states the U.S. asthma drugs market size was valued at USD 10.45 billion in 2025 and is projected to surpass approximately USD 17.25 billion by 2035.
- For **Chronic Rhinosinusitis with Nasal Polyps**: The global market size for chronic rhinosinusitis with nasal polyps is projected to grow from USD 5.1 billion in 2024 to USD 7.6 billion by 2030. The U.S. market is estimated at USD 1.91 billion in 2024 and is projected to reach approximately USD 2.66 billion by 2030.
- CBP-307 (small molecule modulator of sphingosine 1-phosphate receptor 1) is in Phase II for the treatment of autoimmune-related inflammation diseases:
- For **Autoimmune Diseases**: The global autoimmune disease therapeutics market is valued at USD 168.6 billion in 2025 and is forecast to reach USD 226.2 billion by 2035. The U.S. autoimmune disease therapeutics market is estimated at USD 32.18 billion in 2025 and is expected to reach USD 49.12 billion by 2033.
- CBP-174 (small molecule histamine receptor 3 antagonist) is in a preclinical stage to treat chronic itch associated with skin inflammation:
- For **Chronic Itch (Pruritus)**: The global chronic pruritus therapeutics market size accounted for USD 11.25 billion in 2024 and is projected to surpass approximately USD 17.26 billion by 2034. The chronic pruritus market in the 7MM (United States, EU4, UK, and Japan) was valued at approximately USD 3,845 million in 2025 and is projected to reach an estimated USD 8,110 million by 2034. The U.S. pruritus therapeutics market size was exhibited at USD 3.23 billion in 2024 and is projected to be worth around USD 4.99 billion by 2034.
- CBP-233 (humanized antibody against interleukin-33) is a preclinical stage humanized antibody against interleukin-33, a cytokine involved in T helper 2 inflammation:
- The addressable market for CBP-233, which targets IL-33 involved in T helper 2 (Th2) inflammation, would primarily overlap with inflammatory allergic diseases such as atopic dermatitis and asthma. Market sizes for these conditions are provided above.
AI Analysis | Feedback
Connect Biopharma (CNTB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives focused on the advancement and commercialization of its lead product candidates and strategic partnerships:
- Commercialization of Rademikibart (CBP-201) for Atopic Dermatitis in China: Connect Biopharma anticipates potential marketing approval for rademikibart in China for moderate-to-severe atopic dermatitis as early as 2025, following positive pivotal trial data and ongoing engagement with China's Center for Drug Evaluation (CDE). The company has granted Simcere Pharmaceutical Co., Ltd. exclusive rights to develop, manufacture, and commercialize rademikibart in Greater China, with an analyst projection of $120 million in annual sales as early as 2026 for the China AD market.
- Milestone Payments and Royalties from Simcere Partnership: The existing license and collaboration agreement with Simcere Pharmaceutical Co., Ltd. for rademikibart in Greater China is already generating revenue through upfront fees, development milestones, and cost reimbursements. Continued progress in China, including regulatory approvals and sales, is expected to lead to further milestone payments and eventual royalties within the next 2-3 years.
- New Strategic Partnerships and Out-licensing Agreements: Connect Biopharma is actively seeking partnerships, particularly to advance the global Phase 3 program for rademikibart in moderate-to-severe atopic dermatitis, which was paused due to the funding environment until a suitable partner is secured. Additionally, the company is looking to out-license CBP-307 for future trials in ulcerative colitis and Crohn's disease. Successful execution of these partnerships within the timeframe could generate significant upfront payments and future milestone revenues.
- Advancement of Rademikibart (CBP-201) for Asthma and COPD: Following positive Phase 2b data for rademikibart in moderate-to-severe persistent asthma, Connect Biopharma has outlined a rapid clinical development strategy targeting acute asthma and COPD exacerbations. Parallel Phase 2 trials are expected to initiate in the second quarter of 2025, with top-line data anticipated in the second half of 2026. Positive results could pave the way for further development, potential partnerships, and eventual commercialization, contributing to revenue growth.
AI Analysis | Feedback
Share Issuance
- In March 2021, Connect Biopharma completed its initial public offering (IPO) on the Nasdaq Global Market, raising $191 million by pricing an upsized US IPO at $17 per share.
- The company's shares outstanding were 56 million in Q3 2025, reflecting a 0.3% increase from the prior quarter.
Inbound Investments
- Connect Biopharma is eligible to receive remaining milestone payments of up to approximately $110 million from an exclusive license and collaboration agreement with Simcere Pharmaceutical Co., Ltd. for rademikibart in Greater China.
- Simcere Pharmaceutical paid Connect Biopharma approximately $24 million in upfront and regulatory milestones for the rights to develop and commercialize rademikibart in China.
Capital Expenditures
- Connect Biopharma Holdings Ltd invested $34K in capital expenditures in Q3 2025.
- Capital expenditures of $750K contributed to the company's free cash flow of -$24.4M in a period where it generated -$23.6M in operating cash flow.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Connect Biopharma Earnings Notes | 12/16/2025 | |
| Connect Biopharma Stock Surges 107%, With A 6-Day Winning Spree | 11/20/2025 | |
| Connect Biopharma Stock Surges 69%, With A 5-Day Winning Spree | 11/19/2025 | |
| Connect Biopharma Stock Drop Looks Sharp, But How Deep Can It Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 277.25 |
| Mkt Cap | 122.9 |
| Rev LTM | 26,070 |
| Op Inc LTM | 7,205 |
| FCF LTM | 6,194 |
| FCF 3Y Avg | 3,561 |
| CFO LTM | 7,884 |
| CFO 3Y Avg | 10,348 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.3% |
| Rev Chg 3Y Avg | 12.5% |
| Rev Chg Q | 19.0% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Inc Chg LTM | 51.7% |
| Op Inc Chg 3Y Avg | 12.1% |
| Op Mgn LTM | 27.7% |
| Op Mgn 3Y Avg | 26.9% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 28.6% |
| CFO/Rev 3Y Avg | 30.7% |
| FCF/Rev LTM | 24.3% |
| FCF/Rev 3Y Avg | 25.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 122.9 |
| P/S | 5.5 |
| P/Op Inc | 16.9 |
| P/EBIT | 13.9 |
| P/E | 18.9 |
| P/CFO | 14.8 |
| Total Yield | 5.6% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 5.2% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.8% |
| 3M Rtn | -4.9% |
| 6M Rtn | -5.1% |
| 12M Rtn | 37.4% |
| 3Y Rtn | 77.0% |
| 1M Excs Rtn | -6.8% |
| 3M Excs Rtn | -15.1% |
| 6M Excs Rtn | -18.5% |
| 12M Excs Rtn | 8.1% |
| 3Y Excs Rtn | -15.5% |
Price Behavior
| Market Price | $2.49 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 03/19/2021 | |
| Distance from 52W High | -32.5% | |
| 50 Days | 200 Days | |
| DMA Price | $2.66 | $2.30 |
| DMA Trend | up | down |
| Distance from DMA | -6.3% | 8.1% |
| 3M | 1YR | |
| Volatility | 86.6% | 105.6% |
| Downside Capture | 130.97 | -54.72 |
| Upside Capture | 85.39 | 92.21 |
| Correlation (SPY) | 4.2% | -2.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.97 | 0.34 | 0.23 | 0.59 | -0.21 | 0.52 |
| Up Beta | 0.96 | -2.15 | -2.85 | -1.25 | -1.53 | 0.15 |
| Down Beta | 8.09 | 8.38 | 2.28 | 0.40 | 0.33 | 0.81 |
| Up Capture | 69% | 31% | 84% | 109% | 79% | 50% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 18 | 32 | 60 | 120 | 337 |
| Down Capture | 167% | 246% | 128% | 160% | -101% | 82% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 19 | 27 | 59 | 117 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTB | |
|---|---|---|---|---|
| CNTB | 203.8% | 105.3% | 1.53 | - |
| Sector ETF (XLV) | 15.8% | 14.6% | 0.78 | -0.7% |
| Equity (SPY) | 30.3% | 11.8% | 1.94 | -2.1% |
| Gold (GLD) | 37.5% | 26.7% | 1.17 | 6.0% |
| Commodities (DBC) | 39.6% | 18.8% | 1.63 | 8.3% |
| Real Estate (VNQ) | 12.5% | 13.1% | 0.64 | -6.8% |
| Bitcoin (BTCUSD) | -32.0% | 41.6% | -0.82 | -3.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTB | |
|---|---|---|---|---|
| CNTB | -31.4% | 113.9% | 0.23 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 8.0% |
| Equity (SPY) | 14.3% | 17.0% | 0.66 | 9.3% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 1.1% |
| Commodities (DBC) | 10.2% | 19.4% | 0.41 | 1.6% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 7.0% |
| Bitcoin (BTCUSD) | 14.5% | 54.6% | 0.46 | 4.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNTB | |
|---|---|---|---|---|
| CNTB | -18.6% | 112.6% | 0.20 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 8.2% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 9.2% |
| Gold (GLD) | 13.3% | 16.0% | 0.69 | 1.1% |
| Commodities (DBC) | 7.3% | 17.9% | 0.33 | 1.5% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 6.6% |
| Bitcoin (BTCUSD) | 66.9% | 66.9% | 1.06 | 4.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated N/A/N/A/N/A| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/12/2026 | 14.5% | 1.7% | |
| 11/12/2025 | 5.9% | 69.1% | 64.5% |
| 8/13/2025 | 4.0% | -20.3% | -28.2% |
| 5/15/2025 | -5.6% | 5.8% | 23.4% |
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 2 |
| # Negative | 1 | 1 | 1 |
| Median Positive | 5.9% | 5.8% | 43.9% |
| Median Negative | -5.6% | -20.3% | -28.2% |
| Max Positive | 14.5% | 69.1% | 64.5% |
| Max Negative | -5.6% | -20.3% | -28.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 06/30/2024 | 09/05/2024 | 6-K |
| 12/31/2023 | 04/16/2024 | 20-F |
| 06/30/2023 | 09/12/2023 | 6-K |
| 12/31/2022 | 04/11/2023 | 20-F |
| 06/30/2022 | 09/13/2022 | 6-K |
| 12/31/2021 | 03/31/2022 | 20-F |
| 06/30/2021 | 08/31/2021 | 6-K |
| 12/31/2020 | 03/19/2021 | 424B4 |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | |||||||
Prior: Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | |||||||
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Huang, James | See Footnote | Buy | 4012026 | 3.45 | 1,160,000 | 4,002,000 | 45,402,000 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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