# Contineum Therapeutics, Inc. (CTNM)

> Source: Nexqual · https://nexqual.com/CTNM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Contineum Therapeutics, Inc. (CTNM), nexqual.com/CTNM" · informational, not investment advice.

**Price:** USD 8.4 (+0.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 8.35 · day 8.12–8.75 · 52w 6.73–17.79 · market cap $316M · NMS

## Key facts
- Insider open-market sales, last ~7 months: 10 Form 4 filings, $1.2M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.13 on a 1–5 scale) (8 analysts), mean target USD 22.14 (range 14–30).
- Total return with dividends: 1Y -24.5% vs S&P 500 +14.9%; 5Y -45.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD -0.45, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $50.0M | $0K | — | — |
| Operating income | $16.1M | -$50.9M | -$68.1M | -$66.4M |
| Net income | $22.7M | -$42.3M | -$60.0M | -$57.6M |
| EPS (diluted) | $0.08 | -$2.18 | -$2.17 | — |
| Free cash flow | $18.9M | -$33.4M | -$55.5M | -$53.5M |
| Operating margin | 32.2% | — | — | — |
| Net margin | 45.4% | — | — | — |
| Revenue growth | — | -100.0% | — | — |
| Cash + short-term investments | $125M | $205M | $263M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 1.3x · FCF yield -16.93% · Earnings yield -18.22%

## Insider sales (SEC Form 4, open-market, last ~7 months)
10 of 10 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Stengone Carmine N. | CEO and President | 2,500 | $41K | 12.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-03 | Stengone Carmine N. | CEO and President | 2,500 | $40K | 12.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-08…2026-07-09 | Lorrain Daniel S. | Chief Scientific Officer | 1,040 | $17K | 0.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023) |
| 2026-07-08 | Stengone Carmine N. | CEO and President | 2,500 | $40K | 12.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-30…2026-07-01 | Lorrain Daniel S. | Chief Scientific Officer | 37,179 | $595K | 20.4% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023) |
| 2026-06-30 | Watkins Tim | CMO & Head of Development | 10,833 | $174K | 54.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-30 | Stengone Carmine N. | CEO and President | 10,000 | $160K | 36.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Lorrain Daniel S. | Chief Scientific Officer | 4,170 | $55K | 2.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-01 | Lorrain Daniel S. | Chief Scientific Officer | 4,170 | $55K | 2.7% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023) |
| 2026-04-06 | Lorrain Daniel S. | Chief Scientific Officer | 4,170 | $56K | 2.6% | Yes (adopted September 23, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.13 on a 1–5 scale), 8 analysts; mean target USD 22.14 (low 14, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Jones Trading | Target raised | Buy | $24 → $30 |
| 2026-10-14 | Baird | Downgrade | Outperform → Neutral | $19 → $14 |
| 2026-09-28 | Morgan Stanley | Target lowered | Equal-Weight | $18 → $17 |
| 2026-09-15 | Jones Trading | Target lowered | Buy | $26 → $24 |
| 2026-09-15 | Baird | Target lowered | Outperform | $20 → $19 |
| 2026-07-31 | RBC Capital | Target raised | Outperform | $22 → $23 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-04-01) |
|---|---|---|
| Total return | -24.5% | -45.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -24.6% | -21.1% |
| Volatility (annualized) | 82.4% | 80.8% |
| Max drawdown | -59.7% (Sep 2026→Oct 2026) | -83.3% (Jul 2024→May 2025) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 90.9 +2.57% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · ABVX (Abivax SA) USD 90.23 -3.49%

## More
Full page: https://nexqual.com/CTNM · 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

## Supply chain and relationships (SEC annual reports)

Named in CTNM's own 10-K filed 2026-03-05 (https://www.sec.gov/Archives/edgar/data/1855175/000162828026015165/ctnm-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | WuXi | "However, the Act provides a mechanism for Chinese companies to be designated as a "biotechnology company of concern" in the future, and it is possible that WuXi Biologics and/or WuXi AppTec could receive that designation…" |
| Partner | Leerink Partners | "In addition, in May 2025, we entered into the Sales Agreement with Leerink Partners LLC (the "ATM Sales Agreement") pursuant to which we may offer and sell up to $75.0 million in shares of our common stock from time to t…" |
| Partner | Johnson & Johnson (JNJ) | "From its inception through December 31, 2025, the Company has financed its operations primarily from the sale of equity securities and convertible equity securities, and a global license and development agreement (the "J…" |
| Competitor | Eli Lilly (LLY) | "Our competition may also include other programs in clinical development for the treatment of COAP and/or CLBP being developed by Eli Lilly and Company, GSK plc, Novartis AG and AstraZeneca PLC." |

## Company outlook (8-K filed 2026-07-30)

- "With a projected cash runway that extends through mid-2029, which is approximately one year past the estimated completion of our IPF trial, we are maintaining a disciplined approach to capital allocation." Stengone continued, "We're grateful to Dan for his years of leadership, service and contributions in founding and helping build Contineum into the world-class organization it is today."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.45 | $-0.43 | +5.7% | $0 | 7 |
| Next quarter (ends 2026-12-31) | $-0.45 | $-0.37 | +20.6% | $0 | 7 |
| Current fiscal year (ends 2026-12-31) | $-1.70 | $-1.65 | +2.9% | $0 | 7 |
| Next fiscal year (ends 2027-12-31) | $-1.93 | $-1.81 | +6.2% | $0 | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±25.0%; last 8 reports averaged ±7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 110.1% | ±25.0% |
| 2026-12-18 | 56 | 129.5% | ±39.3% |
| 2027-01-15 | 84 | 76.2% | ±40.6% |
| 2027-04-16 | 175 | 134.1% | ±50.6% |
| 2027-06-17 | 237 | 115.8% | ±67.9% |
| 2027-07-16 | 266 | 117.4% | ±72.7% |