Connect Biopharma Raises $20.2M, $46M Cash Funds Seabreeze STAT Phase 2 Data Mid-2026
Connect Biopharma closed a $20.2 million private placement on March 31, 2026, boosting cash to $46 million and funding operations into the second half of 2027. Phase 2 Seabreeze STAT trials of rademikibart in asthma and COPD remain on track per DMC review, with topline data due mid-2026.
1. First Quarter Financial Results
Connect Biopharma ended March 31, 2026 with $46.0 million in cash and cash equivalents, following a $20.2 million private placement that closed on March 31. Net loss widened to $19.4 million, or $0.34 per share, for Q1 2026 versus $10.3 million, or $0.19 per share, in Q1 2025.
2. Phase 2 Seabreeze STAT Trial Progress
Recruitment is ongoing for the Seabreeze STAT Phase 2 studies of rademikibart in acute exacerbations of asthma and COPD. An independent data monitoring committee reviewed the interim analysis with no safety concerns or sample-size changes, and topline results are expected mid-2026 before planned FDA alignment on a Phase 3 program.
3. Encouraging Phase 1 IV Data
A single intravenous dose of rademikibart improved lung function as early as 15 minutes post-dosing, with clinically meaningful FEV1 gains maintained up to four weeks. The rapid onset and lower dosing profile suggest potential for differentiated hospital-setting pricing if approved.
4. Atopic Dermatitis Partnership Success
In a Phase 3 study conducted by Simcere Pharmaceutical in China, rademikibart achieved rapid, durable efficacy through 52 weeks in moderate-to-severe atopic dermatitis, with near-maximal responses in approximately 90% of patients, supporting broader Th2 inflammatory disease potential.