# Connect Biopharma Holdings Limited (CNTB)

> Source: Nexqual · https://nexqual.com/CNTB · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Connect Biopharma Holdings Limited (CNTB), nexqual.com/CNTB" · informational, not investment advice.

**Price:** USD 0.91 (-0.31% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 0.91 · day 0.88–0.93 · 52w 0.85–3.82 · market cap $57.1M · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.0M, net income -$69.0M (-2336.3% margin), free cash flow -$60.6M (SEC filings).
- Analysts: Buy (mean 1.88 on a 1–5 scale) (8 analysts), mean target USD 5.88 (range 4–9).
- Total return with dividends: 1Y -50.5% vs S&P 500 +18.1%; 5Y -94.7% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $0K | $26.0M | $64K | $3.0M |
| Operating income | -$69.1M | -$22.5M | -$58.1M | -$70.4M |
| Net income | -$62.1M | -$15.6M | -$55.5M | -$69.0M |
| EPS (diluted) | -$1.13 | -$0.28 | -$1.00 | — |
| Free cash flow | -$47.8M | -$24.4M | -$51.6M | -$60.6M |
| Operating margin | — | -86.2% | -90740.6% | -2384.5% |
| Net margin | — | -60.0% | -86687.5% | -2336.3% |
| Revenue growth | — | — | -99.8% | — |
| Cash + short-term investments | $118M | $93.7M | $44.3M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 19.3x · P/B 2.1x · FCF yield -106.25% · Earnings yield -120.89%

## Analysts
Consensus Buy (mean 1.88 on a 1–5 scale), 8 analysts; mean target USD 5.88 (low 4, high 9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | HC Wainwright & Co. | Reiterated | Buy | $7 |
| 2026-10-02 | HC Wainwright & Co. | Reiterated | Buy | $7 |
| 2026-09-30 | BTIG | Target lowered | Buy | $10 → $5 |
| 2026-09-22 | Oppenheimer | Target lowered | Outperform | $8 → $5 |
| 2026-09-17 | HC Wainwright & Co. | Reiterated | Buy | $7 |
| 2026-09-16 | Canaccord Genuity | Target lowered | Buy | $7 → $6 |
| 2026-09-15 | BTIG | Reiterated | Buy | $10 |
| 2026-07-09 | Oppenheimer | Initiated | Outperform | $8 |
| 2026-06-26 | Piper Sandler | Initiated | Neutral → Overweight | $7 |
| 2026-06-25 | HC Wainwright & Co. | Reiterated | Buy | $7 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -50.5% | -94.7% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -50.6% | -44.4% |
| Volatility (annualized) | 104.3% | 117.4% |
| Max drawdown | -76.4% (Mar 2026→Oct 2026) | -96.4% (Oct 2021→May 2022) |

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 87.97 +1.57% · BLTE (Belite Bio, Inc) USD 152.62 +0.49% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.72 +1.52% · PRAX (Praxis Precision Medicines, Inc) USD 248.24 +2.01% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.12 +4.11% · SYRE (Spyre Therapeutics, Inc.) USD 80.1 -0.44%

## More
Full page: https://nexqual.com/CNTB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt