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Connect Biopharma Holdings Limited(CNTB)Earnings, Financials & Key Ratios
CNTB•NASDAQ
$2.47
$137M mkt cap·Price updated May 6, 2026
AboutConnect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on the discovery and development of immune modulators for the treatment of serious autoimmune diseases and inflammation. The company's lead product candidate is CBP-201, an anti-interleukin-4 receptor alpha antibody, which is in Phase IIb clinical trial for the treatment of inflammatory allergic diseases, such as atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyps. Its products also comprise CBP-307, a small molecule modulator of sphingosine 1-phosphate receptor 1, a regulator of T cell mobilization out of lymph nodes into the periphery that is in Phase II for the treatment of autoimmune-related inflammation diseases; CBP-174, a small molecule histamine receptor 3 antagonist for oral administration, which is in a preclinical stage to treat chronic itch associated with skin inflammation; and CBP-233, a preclinical stage humanized antibody against interleukin-33, a cytokine involved in T helper 2 inflammation. The company was founded in 2012 and is headquartered in Taicang, China.Show more
- Revenue$26M
- EBITDA-$22M+64.3%
- Net Income-$16M+73.7%
- EPS (Diluted)-0.28+74.1%
- Gross Margin100%
- EBITDA Margin-83.71%
- Operating Margin-86.24%
- Net Margin-60.03%
- ROE-16.18%+72.5%
- ROIC-338.23%
- Debt/Equity0.00-58.0%
CNTB Key Insights
Connect Biopharma Holdings Limited (CNTB) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 1.5x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CNTB Price & Volume
Connect Biopharma Holdings Limited (CNTB) stock price & volume — 10-year historical chart
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CNTB Growth Metrics
Connect Biopharma Holdings Limited (CNTB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM71.82%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM93.61%
Return on Capital
10 Years-38.54%
5 Years-39.86%
3 Years-41.6%
Last Year-23.22%
CNTB Recent Earnings
Connect Biopharma Holdings Limited (CNTB) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (80%)●Beat Revenue 1/12 qtrs (100%)
Q2 2026Latest
Mar 31, 2026EPS
$0.27
Est $0.30
+10.0%
Revenue
—
Est $538
Q3 2025
Aug 13, 2025EPS
$0.23
Est $0.22
-4.5%
Revenue
$6,700
Q2 2025
Mar 31, 2025EPS
$0.06
Est $0.27
+78.7%
Revenue
$261,878
Q4 2024
Sep 5, 2024EPS
$0.02
Est $0.03
+167.5%
Revenue
$3M
Est $3M
+12.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 31, 2026 | $0.27vs $0.30+10.0% | —vs $538 |
| Q3 2025 | Aug 13, 2025 | $0.23vs $0.22-4.5% | $6,700 |
| Q2 2025 | Mar 31, 2025 | $0.06vs $0.27+78.7% | $261,878 |
| Q4 2024 | Sep 5, 2024 | $0.02vs $0.03+167.5% | $3Mvs $3M+12.5% |
Based on last 12 quarters of dataView full earnings history →
CNTB Peer Comparison
Connect Biopharma Holdings Limited (CNTB) competitors in Immunology and Inflammation Therapies — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ABBV | 364.63B | 206.15 | 86.98 | 8.57% | 6.91% | 62.15% | 4.89% | |
 REGN | 72.97B | 702.33 | 16.93 | 0.99% | 29.65% | 14.32% | 5.59% | 0.09 |
 ARQT | 2.89B | 23.42 | -180.15 | 91.34% | -4.29% | -8.52% | 0.03 | |
 DAWN | 2.22B | 21.53 | -20.70 | 20.6% | -67.85% | -23.43% | 0.01 | |
 RXST | 299.42M | 7.26 | -7.64 | -3.89% | -28.96% | -14.13% | 0.04 | |
 INCY | 19.47B | 97.47 | 15.21 | 21.22% | 26.71% | 29.31% | 6.96% | 0.01 |
 PTGX | 6.21B | 99.28 | -48.43 | -100% | -21.17% | 0.93% | 0.02 | |
 RAPT | 295.54M | 58.01 | -2.28 | -61.81% | 0.02 |
Compare CNTB vs Peers
Connect Biopharma Holdings Limited (CNTB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CNTB Income Statement
Connect Biopharma Holdings Limited (CNTB) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 26.03M | 26.08M |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 1.03M | 988K | 0 | 665.4K |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | -1.03M▲ 0% | -988K▲ 4.1% | 26.03M▲ 2734.9% | 24.93M▲ 0% |
| Gross Margin % | - | - | - | - | - | 100% | 95.62% |
| Gross Profit Growth % | - | - | - | - | 4.14% | 2734.92% | - |
| Operating Expenses | 16.44M | 29.36M | 97.59M | 114.69M | 62.07M | 48.48M | 84.65M |
| OpEx % of Revenue | - | - | - | - | - | 186.24% | - |
| Selling, General & Admin | 1.41M | 7.31M | 19.23M | 20.37M | 13.53M | 19.23M | 29.85M |
| SG&A % of Revenue | - | - | - | - | - | 73.86% | - |
| Research & Development | 15.44M | 23.12M | 81.34M | 95.26M | 51.91M | 29.26M | 63.17M |
| R&D % of Revenue | - | - | - | - | - | 112.38% | - |
| Other Operating Expenses | -411.44K | -1.07M | -2.98M | -940.31K | -4.35M | 0 | -3M |
| Operating Income | -15.99M▲ 0% | -30.3M▼ 89.4% | -99.15M▼ 227.3% | -117.66M▼ 18.7% | -62.07M▲ 47.2% | -22.45M▲ 63.8% | -58.25M▲ 0% |
| Operating Margin % | - | - | - | - | - | -86.24% | -223.39% |
| Operating Income Growth % | - | -89.42% | -227.28% | -18.67% | 47.24% | 63.83% | - |
| EBITDA | -15.88M | -30.07M | -98.51M | -116.65M | -61.09M | -21.79M | -56.94M |
| EBITDA Margin % | - | - | - | - | - | -83.71% | -218.36% |
| EBITDA Growth % | - | -89.4% | -227.56% | -18.41% | 47.63% | 64.33% | 72.73% |
| D&A (Non-Cash Add-back) | 114.61K | 221.05K | 640.98K | 1.01M | 988K | 660K | 1.31M |
| EBIT | -24.4M | -112.48M | -202.36M | -118.04M | -59.36M | -22.45M | -57.61M |
| Net Interest Income | 146.96K | 103.4K | 90.76K | 1.54M | 5.2K | 4.45M | 2.97M |
| Interest Income | 154.65K | 109.84K | 97.67K | 1.56M | 5.2K | 4.45M | 2.98M |
| Interest Expense | 7.69K | 6.43K | 6.91K | 21.03K | 0 | 0 | 9.61K |
| Other Income/Expense | -8.41M | -89.07M | -103.21M | -403.66K | 2.69M | 7.05M | 1.2M |
| Pretax Income | -24.46M▲ 0% | -119.37M▼ 387.9% | -204.94M▼ 71.7% | -116.12M▲ 43.3% | -59.38M▲ 48.9% | -15.4M▲ 74.1% | -57.06M▲ 0% |
| Pretax Margin % | - | - | - | - | - | -59.17% | -218.81% |
| Income Tax | -442.49K | 934.46K | 266.47K | 297.52K | 120K | 223K | 332.8K |
| Effective Tax Rate % | 1.81% | -0.78% | -0.13% | -0.26% | -0.2% | -1.45% | -0.58% |
| Net Income | -24.02M▲ 0% | -120.3M▼ 400.8% | -205.21M▼ 70.6% | -116.42M▲ 43.3% | -59.5M▲ 48.9% | -15.63M▲ 73.7% | -57.39M▲ 0% |
| Net Margin % | - | - | - | - | - | -60.03% | -220.08% |
| Net Income Growth % | - | -400.83% | -70.57% | 43.27% | 48.89% | 73.74% | 71.82% |
| Net Income (Continuing) | -24.4M | -112.89M | -202.63M | -118.37M | -59.5M | -15.63M | -57.39M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.02▲ 0% | -14.45▼ 378.5% | -25.00▼ 73.0% | -14.50▲ 42.0% | -1.08▲ 92.6% | -0.28▲ 74.1% | -1.03▲ 0% |
| EPS Growth % | - | -378.48% | -73.01% | 42% | 92.55% | 74.07% | 93.61% |
| EPS (Basic) | -3.02 | -14.45 | -25.00 | -14.50 | -1.08 | -0.28 | - |
| Diluted Shares Outstanding | 55.82M | 53.94M | 52.27M | 55.04M | 55.07M | 55.21M | 55.5M |
| Basic Shares Outstanding | 55.82M | 53.94M | 52.27M | 55.04M | 55.07M | 55.21M | 55.5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
CNTB Balance Sheet
Connect Biopharma Holdings Limited (CNTB) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 52.64M | 161.89M | 275.44M | 158.46M | 122.55M | 96.96M | 77.76M |
| Cash & Short-Term Investments | 49.27M | 156.74M | 268.02M | 164.65M | 118.65M | 93.71M | 71.77M |
| Cash Only | 44.82M | 154.73M | 268.02M | 80.37M | 105.66M | 78.23M | 40.63M |
| Short-Term Investments | 4.44M | 2M | 0 | 74.67M | 12.65M | 15.48M | 31.14M |
| Accounts Receivable | 0 | 0 | 7.41M | 0 | 351K | 1.05M | 193K |
| Days Sales Outstanding | - | - | - | - | - | 14.74 | 17.82 |
| Inventory | 3.18M | 4.88M | -6.74K | -6.42M | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 54K | 53K | 228K |
| Total Non-Current Assets | 1.42M | 4.3M | 15.94M | 18.55M | 4.82M | 4.32M | 4.97M |
| Property, Plant & Equipment | 496.45K | 2.68M | 12.9M | 5.47M | 4.74M | 4.24M | 4.88M |
| Fixed Asset Turnover | - | - | - | - | - | 6.14x | 5.68x |
| Goodwill | 0 | 0 | -3.45M | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 52.39K | 3.54M | 3.22M | 62K | 53K | 48K |
| Long-Term Investments | 0 | 0 | 0 | 9.6M | 0 | 0 | 0 |
| Other Non-Current Assets | 921.82K | 1.57M | 2.95M | 34.62K | 132K | 33K | 306K |
| Total Assets | 54.05M▲ 0% | 166.19M▲ 207.5% | 291.39M▲ 75.3% | 177.01M▼ 39.3% | 125.89M▼ 28.9% | 101.28M▼ 19.5% | 82.72M▲ 0% |
| Asset Turnover | - | - | - | - | - | 0.26x | 0.24x |
| Asset Growth % | - | 207.45% | 75.33% | -39.25% | -28.88% | -19.55% | -95.91% |
| Total Current Liabilities | 3.97M | 5.82M | 18.01M | 15.89M | 25.29M | 8.46M | 10.74M |
| Accounts Payable | 3.27M | 3.77M | 12.73M | 11.94M | 7.66M | 342K | 2.29M |
| Days Payables Outstanding | - | - | - | 4.23K | 2.83K | - | 2.19K |
| Short-Term Debt | 0 | 92.53K | 0 | 0 | 0 | 154K | 350K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 13.32M | 164K | 13.65M |
| Other Current Liabilities | 509.99K | -98.31K | 5.15M | 2.69M | 2.05M | 3.19M | 1.31M |
| Current Ratio | 13.24x | 27.81x | 15.30x | 9.97x | 4.85x | 11.46x | 11.46x |
| Quick Ratio | 12.44x | 26.97x | 15.30x | 10.37x | 4.85x | 11.46x | 11.46x |
| Cash Conversion Cycle | - | - | - | - | - | - | -2.18K |
| Total Non-Current Liabilities | 93.35M | 317.38M | 810.73K | 911.83K | 585K | 656K | 642K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 67.17K | 47.3K | 26K | 245K | 180K | 24K | 797K |
| Deferred Tax Liabilities | 0 | 0 | -782.42K | -656.85K | 0 | 0 | -2.87M |
| Other Non-Current Liabilities | 91.9M | 317.33M | 784K | 0 | 0 | 632K | 754K |
| Total Liabilities | 97.33M | 323.2M | 18.82M | 16.81M | 24.85M | 9.12M | 11.38M |
| Total Debt | 127.96K | 139.86K | 124.52K | 437.88K | 465K | 178K | 870K |
| Net Debt | -44.7M | -154.59M | -267.9M | -79.93M | -105.54M | -78.05M | -39.76M |
| Debt / Equity | - | - | 0.00x | - | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | - | - | - | - | - | - | -0.02x |
| Net Debt / EBITDA | - | - | - | - | - | - | 0.70x |
| Interest Coverage | -2080.02x | -4708.64x | -14350.83x | -5594.41x | - | - | -5993.94x |
| Total Equity | -43.27M▲ 0% | -157.01M▼ 262.8% | 272.57M▲ 273.6% | -463.76M▼ 270.1% | 101.04M▲ 121.8% | 92.17M▼ 8.8% | 71.34M▲ 0% |
| Equity Growth % | - | -262.83% | 273.6% | -270.14% | 121.79% | -8.79% | -95.05% |
| Book Value per Share | -0.78 | -2.91 | 5.21 | -8.43 | 1.83 | 1.67 | 1.29 |
| Total Shareholders' Equity | -43.27M | -157.01M | 272.57M | -463.76M | 101.04M | 92.17M | 71.34M |
| Common Stock | 3.05K | 3.68K | 10.36K | 9.64K | 10K | 10K | 10K |
| Retained Earnings | -42.38M | -164.12M | -373.43M | -463.76M | -329.73M | -345.36M | -368.53M |
| Treasury Stock | -144 | -460 | -180K | -180K | -180K | -180K | -180K |
| Accumulated OCI | -7.07M | -259.35K | -6.48M | 10.39M | 11.85M | -1.67M | -1.38M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CNTB Cash Flow Statement
Connect Biopharma Holdings Limited (CNTB) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -13.09M | -25.61M | -85.57M | -99.27M | -47.93M | -23.61M | -23.61M |
| Operating CF Margin % | - | - | - | - | - | -90.7% | - |
| Operating CF Growth % | - | -95.56% | -234.15% | -16.01% | 51.72% | 50.74% | 91.04% |
| Net Income | -24.46M | -119.37M | -204.94M | -116.12M | -59.38M | -15.63M | -57.39M |
| Depreciation & Amortization | 114.61K | 221.05K | 640.98K | 1.01M | 988K | 660K | 1.16M |
| Stock-Based Compensation | 562.17K | 590.64K | 1.41M | 1.01M | 3.26M | 6.73M | 12.24M |
| Deferred Taxes | 8.3M | 89.68M | 106.37M | 3.37M | 0 | 0 | 0 |
| Other Non-Cash Items | 7.69K | 443.18K | 6.91K | -1.35M | -2.28M | 118K | -251.08K |
| Working Capital Changes | 2.38M | -436.29K | 3.27M | 7.16M | 9.48M | -15.49M | -4.86M |
| Change in Receivables | -439 | -1.43K | -2.53K | 3.37K | 1.04M | -789K | 9.42K |
| Change in Inventory | 439 | 1.43K | 2.53K | -3.37K | 0 | 0 | 0 |
| Change in Payables | 2.81M | 283.4K | 8.89M | 375.66K | -4.28M | -1.87M | -4.4M |
| Cash from Investing | -484.7K | 449.15K | -5.34M | -83.44M | 75.16M | -3.45M | 42.77M |
| Capital Expenditures | -155.52K | -2.34M | -7.46M | -4.28M | -294K | -750K | -185.33K |
| CapEx % of Revenue | - | - | - | - | - | 2.88% | - |
| Acquisitions | 329 | 53.46K | 47.73K | 79.16K | 2.94M | 0 | 16.5K |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -329 | -53.46K | -47.74K | -79.16K | -84K | 123K | 2.16M |
| Cash from Financing | -57.45K | 140.74M | 206.66M | -91.28K | -246K | 227K | 438.7K |
| Debt Issued (Net) | -63.6K | -82.42K | -126K | -222K | -290K | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 1000K | 18K | 44K | 227K | 289.42K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -566K | 0 | 0 | 0 | 0 |
| Other Financing | 7K | 140.83M | -19.12M | 119K | 0 | 0 | 149.28K |
| Net Change in Cash | -13.44M▲ 0% | 107.4M▲ 899.3% | 109.42M▲ 1.9% | -168.93M▼ 254.4% | 27M▲ 116.0% | -27.43M▼ 201.6% | -91.63M▲ 0% |
| Free Cash Flow | -13.25M▲ 0% | -27.95M▼ 111.0% | -93.03M▼ 232.8% | -103.55M▼ 11.3% | -48.22M▲ 53.4% | -24.36M▲ 49.5% | -54.04M▲ 0% |
| FCF Margin % | - | - | - | - | - | -93.58% | -207.26% |
| FCF Growth % | - | -110.96% | -232.83% | -11.31% | 53.43% | 49.48% | 69.79% |
| FCF per Share | -0.24 | -0.52 | -1.78 | -1.88 | -0.88 | -0.44 | -0.44 |
| FCF Conversion (FCF/Net Income) | 0.55x | 0.21x | 0.42x | 0.85x | 0.81x | 1.51x | 0.94x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 462K | 120K | 111K | 0 |
CNTB Key Ratios
Connect Biopharma Holdings Limited (CNTB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -355.15% | - | -58.89% | -16.18% | -80.44% |
| Return on Invested Capital (ROIC) | - | -1592.18% | - | - | -338.23% | -338.23% |
| Gross Margin | - | - | - | - | 100% | 95.62% |
| Net Margin | - | - | - | - | -60.03% | -220.08% |
| Debt / Equity | - | 0.00x | - | 0.00x | 0.00x | 0.00x |
| Interest Coverage | -4708.64x | -14350.83x | -5594.41x | - | - | -5993.94x |
| FCF Conversion | 0.21x | 0.42x | 0.85x | 0.81x | 1.51x | 0.94x |
CNTB SEC Filings & Documents
Connect Biopharma Holdings Limited (CNTB) SEC filings — annual & quarterly reports (10-K, 10-Q)
CNTB Frequently Asked Questions
Connect Biopharma Holdings Limited (CNTB) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Connect Biopharma Holdings Limited (CNTB) reported $26.1M in revenue for fiscal year 2024.
Connect Biopharma Holdings Limited (CNTB) grew revenue by 0.0% over the past year. Growth has been modest.
Connect Biopharma Holdings Limited (CNTB) reported a net loss of $57.4M for fiscal year 2024.
Dividend & Returns
Connect Biopharma Holdings Limited (CNTB) has a return on equity (ROE) of -16.2%. Negative ROE indicates the company is unprofitable.
Connect Biopharma Holdings Limited (CNTB) had negative free cash flow of $54.0M in fiscal year 2024, likely due to heavy capital investments.
Explore More CNTB
Connect Biopharma Holdings Limited (CNTB) financial analysis — history, returns, DCA and operating performance tools
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Dividend History
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Earnings History
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Price History
Long-term charts & historical price data
Revenue History
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Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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