Jul. 9 at 3:28 PM
Oppenheimer🏁
$CNTB and said -- We are initiating coverage of Connect Biopharma (CNTB) with an Outperform rating and an
$8 PT.
$SNY -
$REGN INSM VRNA INSM AZN GSK NVS AMGN UPB
Oppenheimer added—Connect is developing rademikibart for inflammatory respiratory diseases.
A single-asset story, CNTB is built on rademikibart (formerly CBP-201), a next-generation human IgG4 anti-IL-4Ra antibody that binds with higher affinity than dupilumab and, uniquely in the class, drives receptor-independent bronchodilation via pHSP20, producing FEV1 gains within 15 minutes through IV formulation.
That speed could allow rademikibart to enter the acute exacerbation setting no current biologic is approved.
FDA-aligned 28-day treatment-failure endpoint, which could then bridge patients into chronic maintenance where value concentrates.
The two Phase 2 Seabreeze STAT studies (asthma and COPD, n = 160 each) read out in 2H26, the asthma topline in early September, as the valuation-inflection event.
