CNTB - Connect Biopharma delays pivotal study for lead candidate

U.S. and China-based biotech Connect Biopharma ( NASDAQ: CNTB ) has delayed a global Phase 3 program for its lead candidate CBP-201 in atopic dermatitis (AD), the company announced Friday, citing macro concerns and funding challenges as reasons.

Previously, the program was expected to commence before the year-end. However, the company has decided to revise that timeline until it can find a "partnership necessary to fully complete the program."

The decision will have no impact on its ongoing pivotal AD trial for CBP-201 in China, Connect Biopharma ( CNTB ) said, adding that with the timeline revision for the global trial, its cash runway will extend into at least 2025, a year longer than the previous forecast.

"We anticipate that this longer runway will allow us to meet the milestones for our ongoing clinical trials and advance our preclinical assets toward the clinic, while we continue to evaluate partnership opportunities," Chief Financial Officer of CNTB Steven Chan said.

The company seeks partnership opportunities for CBP-201 not only in AD but also in other conditions, including asthma, for which a Phase 2 trial is underway, with topline data expected in H2 2023.

Read: Seeking Alpha contributor Clinically Sound Investor wrote in October that CBP-201 is "on a near-certain path to approval in the world's 2nd largest market."

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