- Connect Biopharma (CNTB, Financial) to terminate ADR program, switching to direct Nasdaq listing on September 2, 2025.
- ADRs will be exchanged for ordinary shares at a one-for-one ratio, maintaining the ticker "CNTB".
- This strategic move aims to increase institutional visibility and eliminate ADR depositary fees.
Connect Biopharma Holdings Limited (CNTB), a clinical-stage biopharmaceutical company, has announced its decision to terminate its American Depositary Receipt (ADR) program and directly list its ordinary shares on the Nasdaq Global Market. This transition is scheduled to take place on September 2, 2025, with ADRs being mandatorily exchanged for ordinary shares at a one-for-one ratio. The company will retain its current trading symbol "CNTB" post-transition.
CEO Barry Quart highlighted the strategic importance of this decision, emphasizing that it aligns with the company's goal of becoming more U.S.-centric. By eliminating ADR depositary fees and simplifying the trading mechanics, Connect Biopharma aims to enhance its visibility among institutional investors and potentially expand its investor base. This move is expected to better position the company within the U.S. capital markets, crucial for funding its ongoing drug development programs.
Connect Biopharma continues its focus on advancing the clinical development of rademikibart, a next-generation antibody targeting IL-4Rα, for asthma and COPD treatments. The company is currently conducting Phase 2 clinical trials in these areas, aiming to address significant unmet medical needs in these conditions.
