Connect Biopharma's Mid-Stage Atopic Dermatitis Trial Meets Primary Endpoint - Connect Biopharma Hldgs (NASDAQ:CNTB)

Connect Biopharma Holdings Limited CNTB has reported topline results from the Phase 2 trial of CBP-201 administered subcutaneously (SC) to adult patients with moderate-to-severe atopic dermatitis (AD).
The data show that the trial met its primary efficacy endpoint, with statistically significant improvements in the disease severity index score from baseline to Week 16.
All three CBP-201 arms were statistically superior to placebo at Week 16.
For secondary endpoints, all three CBP-201 arms showed statistically significant improvements in the proportion of patients achieving at least a 50% or 75% reduction in disease severity index score from baseline at Week 16, compared with placebo.
Statistically, significant improvements with CBP-201 300mg Q2W arm over placebo were seen for other key secondary efficacy endpoints.
CBP-201 was also observed to have a favorable safety profile.
Investors are probably reacting to reported low incidence of injection site reactions (1.8%) and conjunctivitis (3.5%) in patients receiving CBP-201.
Connect Biopharma will hold a conference call to discuss the detailed trial results from the Phase 2 study by the end of January 2022, following further analyses.
The Company will initiate a Phase 3 trial program in mid-2022.
Price Action: CNTB shares are down 31.5% at $8.3 during the premarket session on the last check Friday.