Connect Biopharma Holdings Limited shares rose 25% Wednesday after the company reported positive topline Phase 2 results for rademikibart, its next-generation anti-interleukin-4-receptor alpha antibody, in chronic obstructive pulmonary disease patients with type 2 inflammation. In the global Seabreeze STAT COPD study, which enrolled 159 participants with eosinophil counts of at least 300 cells/μL and a history of acute COPD exacerbations, a single subcutaneous dose of rademikibart alongside standard care reduced treatment failures by 81% through four weeks versus placebo. It also reduced new moderate to severe exacerbations by 85% and eliminated new hospital admissions and emergency department visits for new exacerbations. At Week 4, post-bronchodilator FEV1 improved by 70 mL versus placebo, while patients used fewer rescue inhalers between Weeks 2 and 7. Safety remained comparable to placebo through eight weeks, with no new safety signals and fewer adverse and serious adverse events overall. Connect Biopharma plans to engage with the FDA on a Phase 3 COPD program. The company has also granted Simcere Pharmaceutical an exclusive license for Greater China and is eligible for milestone payments of up to approximately $99 million.