Connect Biopharma Holdings Limited plans to terminate its American Depositary Share (ADS) program and list its ordinary shares directly on the Nasdaq Global Market. The ADS program will end around September 2, 2025, with ADRs being exchanged for ordinary shares at a 1:1 ratio. Connect Biopharma intends for its ordinary shares to trade under the existing ticker symbol “CNTB.”
This shift to a direct listing represents a strategic move by Connect Biopharma to solidify its presence in the U.S. market. Directly listing the ordinary shares will likely enhance the company’s visibility among institutional investors, potentially broaden its investor base, and eliminate the costs associated with maintaining the ADS program. This simplified structure could make the company more attractive to U.S.-based investors and streamline its financial operations.
The termination of the ADS program coincides with Connect Biopharma’s ongoing Phase 2 clinical development program for rademikibart, a treatment for asthma and COPD. This parallel development suggests the company is positioning itself for potential future growth and investment as it advances its lead drug candidate. Eliminating ADR fees frees up resources that could be directed toward research, development, or commercialization efforts for rademikibart.
This transition to a direct Nasdaq listing signals Connect Biopharma’s intention to focus on the U.S. market and potentially attract a wider range of investors. The move, coupled with the advancement of its clinical program, indicates the company is preparing for a significant phase of growth and development. It will be crucial to observe how this strategic decision impacts investor engagement and the overall trajectory of the company.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
