What Contineum Therapeutics does

Contineum Therapeutics is a clinical-stage biopharmaceutical company headquartered in San Diego, California, developing small-molecule drug candidates at the intersection of neuroscience, inflammation, and immunology (NI&I). The company targets clinically validated biological receptors — the lysophosphatidic acid 1 receptor (LPA1R) and the M1 muscarinic receptor (M1R) — to address serious diseases with high unmet need. Its portfolio comprises four programs: PIPE-791, a brain-penetrant LPA1R antagonist in a global Phase 2 trial (PROPEL-IPF) for idiopathic pulmonary fibrosis with approximately 324 patients, plus ongoing evaluation in chronic pain and progressive multiple sclerosis; CTX-343, a peripherally-restricted LPA1R antagonist; PIPE-307, an M1R antagonist being co-developed with Janssen Pharmaceutica NV (Johnson & Johnson) for relapsing-remitting multiple sclerosis and major depressive disorder; and a Calpain Inhibitor program targeting undisclosed indications. The company also pursues progressive MS through its LPA1R program.

The business model is a traditional pharma development model: Contineum advances candidates through preclinical and clinical stages toward regulatory approval and eventual commercialization, while currently generating no product revenue. Cash flow is sustained by capital markets activity and partnership economics — most recently a $93.0 million upsized public offering completed in December 2025 at $12.25 per share, which brought the Q4 2025 cash balance to $262.9 million and projected runway through mid-2029. The Janssen collaboration for PIPE-307 provides non-dilutive development support and partner expertise, with Janssen retaining discretion over further advancement. End markets, once approved, would address an estimated ~130,000 IPF patients in the United States, more than 250,000 Americans living with pulmonary fibrosis, and approximately 1 million people diagnosed with multiple sclerosis in the U.S. The company employs 51–100 people and is listed on NASDAQ under ticker CTNM.

Commercial go-to-market is not yet applicable: there are no approved products, no distribution infrastructure, and no product pricing. Market-facing activity is concentrated in scientific communication (peer-reviewed publications, conference presentations at ATS, ACTRIMS, SFN, and IASP), patient advocacy partnerships (Pulmonary Fibrosis Foundation, National Multiple Sclerosis Society), clinical trial enrollment (ClinicalTrials.gov, PROPEL-IPF NCT07284459), and investor relations through ir.contineum-tx.com.

Name

Contineum Therapeutics

Legal name

CONTINEUM THERAPEUTICS, INC.

Website

https://contineum-tx.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Contineum Therapeutics is a clinical-stage biopharmaceutical company developing small-molecule drug candidates targeting the LPA1R and M1 muscarinic receptors for idiopathic pulmonary fibrosis, multiple sclerosis, chronic pain, and major depressive disorder. The company is publicly traded on NASDAQ (CTNM) and headquartered in San Diego.

Ownership category

akta.pro rank

Product category

Clinical-stage biopharmaceuticals (small molecule drug development)

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)

akta.pro secondary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

Keywords

• Clinical-stage biopharmaceutical
• Small molecule therapeutics
• Neuroscience drug development
• Fibrosis treatment
• Neuroinflammation therapeutics

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. No current revenue: Contineum Therapeutics is a clinical-stage biopharmaceutical company with no commercially approved products. The company has no current product revenue and is entirely dependent on external funding through public equity offerings and collaboration revenue to finance its research and development activities.

Go-to-market motion1 record

Marketing channels5 records

Core offering

Contineum Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops proprietary small molecule drug candidates targeting the LPA1 receptor and M1 muscarinic receptor for serious neurological, inflammatory, and fibrotic diseases. Its lead asset PIPE-791 is in a global Phase 2 trial (PROPEL-IPF) for idiopathic pulmonary fibrosis, with additional programs in chronic pain and multiple sclerosis, while PIPE-307 is co-developed with Janssen for relapsing-remitting multiple sclerosis and major depressive disorder.

Product overview

Contineum Therapeutics is a biopharmaceutical company pioneering new therapies for conditions at the intersection of neuroscience, inflammation, and immunology (NI&I). The company's balanced portfolio includes small molecule drug candidates designed to address the underlying causes of disease by targeting de-risked, clinically validated biological mechanisms. The core pipeline consists of four candidates: PIPE-791 (LPA1R antagonist for IPF, chronic pain, and progressive MS, currently in Phase 2 for IPF), CTX-343 (peripherally-restricted LPA1R antagonist), PIPE-307 (M1R antagonist developed with Janssen for RRMS and MDD), and an undisclosed Calpain Inhibitor program.

Differentiator

Problem solved

Functional benefit

Products and services

• PIPE-791 Brain-penetrant, best-in-class LPA1R antagonist small molecule in development for idiopathic pulmonary fibrosis (IPF), chronic pain, and progressive multiple sclerosis. Currently being evaluated in the global Phase 2 PROPEL-IPF trial in approximately 324 IPF patients.
• CTX-343 Peripherally-restricted LPA1R antagonist designed to remain unable to access the central nervous system, being developed as an additional LPA1R antagonist candidate within the company's portfolio for peripheral indications.
• PIPE-307 Brain-penetrant, selective M1 muscarinic receptor (M1R) antagonist being developed in collaboration with Janssen Pharmaceutica NV (Johnson & Johnson) for relapsing-remitting multiple sclerosis (RRMS) and major depressive disorder (MDD).
• Calpain Inhibitor Program Small molecule program targeting calpain, a calcium-dependent cysteine protease implicated in a range of human pathological processes via inappropriate regulation of the calpain-calpastatin proteolytic system, with applications in undisclosed therapeutic areas.

Quantifiable outcome

• PROPEL-IPF Phase 2 trial enrolling approximately 324 IPF patients with 26-week treatment duration and primary efficacy endpoint of change from baseline in absolute forced vital capacity (FVC mL)
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Janssen Pharmaceutica NV (Johnson & Johnson company)coreStrategic or Co-development PartnerContineum is developing PIPE-307, a brain-penetrant selective M1 muscarinic receptor antagonist, in collaboration with Janssen Pharmaceutica NV, a Johnson & Johnson company. PIPE-307 targets major depressive disorder (MDD) and relapsing-remitting multiple sclerosis (RRMS). Janssen has sole discretion whether or not to further develop PIPE-307 for RRMS and MDD. This is a licensing and co-development collaboration where Contineum discovered the compound internally and Janssen is advancing development.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Pliant Therapeutics: Pliant Therapeutics is a clinical-stage biopharmaceutical company developing LPA1R-targeting therapies for idiopathic pulmonary fibrosis (IPF), directly overlapping Contineum's lead PIPE-791 program on the same target and indication.
• Karuna Therapeutics: Karuna Therapeutics (now part of Bristol Myers Squibb) developed xanomeline, an M1/M4 muscarinic receptor agonist for schizophrenia, making it a closely comparable CNS muscarinic-targeting peer to Contineum's M1R antagonist PIPE-307.
• Axsome Therapeutics: Axsome Therapeutics is a CNS-focused biopharmaceutical company with Auvelity approved for major depressive disorder (MDD), a core target indication also being pursued by Contineum with PIPE-307, and shares the small-molecule CNS specialty pharma profile.
• Sage Therapeutics: Sage Therapeutics developed Zurzuvae (with Biogen) for postpartum depression and is a clinical-stage CNS specialty pharma focused on novel mechanisms for depression and neurology, directly comparable to Contineum's M1R CNS strategy.
• Denali Therapeutics: Denali Therapeutics is a clinical-stage biopharmaceutical company developing small-molecule therapies for neurodegeneration and lysosomal storage diseases, sharing Contineum's neuroscience small-molecule drug discovery approach with overlapping CNS indications.

Peers

• Acadia Pharmaceuticals:

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/contineumtherapeutics

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds3 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Contineum Therapeutics