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Catalyst Biosciences Announces Plan to Distribute Cash to Stockholders
Board is Committed to Maximizing the Amount of Cash the Company Distributes to Stockholders
Decision Follows Recent Sale of Certain Assets and Extensive Engagement with Stockholders
Board Will Set Initial Distribution Date and Amount Once Potential Liability and Expenses Associated with Stockholder Litigation and Proxy Contest Are Known
SOUTH SAN FRANCISCO, Calif., June 29, 2022 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ: CBIO) (the “Company” or “we”) today announced its intention to distribute cash to the Company’s stockholders through one or more distributions. The intention of the Company’s Board of Directors (the “Board”) is to maximize the size of the total distribution after satisfying or reserving for Company obligations, and to complete the distribution as soon as practicable. The Board currently expects the total amount of cash to be distributed to stockholders to be as much as $65 million, depending upon several factors, including pending stockholder litigation.
“After careful deliberation by the Board and constructive engagement with several of the Company’s largest investors, I am pleased to announce that we are planning to distribute cash to stockholders,” said Nassim Usman, Ph.D., Chief Executive Officer of Catalyst Biosciences. “This follows our recently completed sale of a portion of our product portfolio for up to $60 million in cash, $55 million upfront and $5 million in a 12-month hold-back, after a thorough and competitive process with the assistance of independent financial and legal advisors.”
Dr. Usman continued, “In addition, we have aggressively reduced costs through headcount reductions, ceased all R&D activities, terminated our lab lease and monetized lab and other equipment. We now have six employees – enough to manage the orderly transfer of the technology we sold, continue efforts to monetize the Company’s remaining assets, and satisfy our public company reporting obligations.”
The Company intends to make an initial distribution as soon as the potential liability and expenses associated with the ongoing Delaware Court of Chancery stockholder litigation and the contested Annual Meeting of Stockholders initiated by one of the Company’s stockholders, JDS1, LLC (“JDS1”), can be fully evaluated by the Board.
Dr. Usman continued, “We call upon JDS1 to drop its lawsuit and proxy contest so that we can distribute the first, sizable portion of our cash to the Company’s stockholders expeditiously.
The Company continues to work with its independent advisors to evaluate additional strategic opportunities, including licensing and other asset sales to maximize and monetize the value of the Company’s remaining assets. It is the Board’s intent to distribute all available cash to stockholders after accounting for Company obligations and contingent liabilities.
The Company expects that after the initial distribution, it will continue to hold sufficient cash for future expenses to satisfy the Company’s obligations and liabilities, meet indemnification and tax obligations associated with the recent asset sale to Vertex Pharmaceuticals, pay wind-down costs, and meet D&O insurance policy requirements. The Company will make further distributions as its liabilities and obligations become clear.
Stockholders do not need to take any action at this time. The Company intends to provide further updates to stockholders as developments warrant.
About Catalyst Biosciences
Catalyst is a biotechnology company focused on protease therapeutics to address unmet medical needs in disorders of the complement and coagulation systems. After the transaction of its complement pipeline, Catalyst’s product candidates consist of the coagulation related assets marzeptacog alfa (activated) (“MarzAA”), dalcinonacog alfa (“DalcA”), and CB 2679d-GT. MarzAA is a SQ administered next generation engineered coagulation Factor VIIa (“FVIIa”) for the treatment of episodic bleeding and prophylaxis in subjects with rare bleeding disorders. DalcA is a next-generation SQ administered FIX. CB 2679d-GT is an AAV-based gene therapy construct harboring the DalcA sequence. Both MarzAA and DalcA have shown sustained efficacy and safety in mid-stage clinical trials and are available for partnering. CB 2679d-GT has obtained preclinical proof-of-concept and is also available for partnering.
Additional Information and Where to Find It
Catalyst Biosciences, Inc. (the “Company”) intends to file a definitive proxy statement, accompanying WHITE proxy c
Start.DD on gud friend Julien Singer here, he ants to do good things.
Honor to him an those
JDS1 LLC - CALLS
https://sec.report/Document/0001171520-22-000346/
What are you doing with 87 million?
Why don't you give them to us?
Twinkle Twinkle Little Star
up above the board so high
likewise!
Buying more in here chee chee cheee
Amended Current Report Filing (8-k/a)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 19, 2022
CATALYST BIOSCIENCES, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-51173 56-2020050
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
611 Gateway Blvd, Suite 710, South San Francisco, CA 94080
(Address of principal executive offices)
(650) 871-0761
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
?
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
?
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
?
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
?
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock CBIO Nasdaq
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Explanatory Note
On May 23, 2022, Catalyst Biosciences, Inc. (“Catalyst”) filed a Form 8-K with the Securities and Exchange Commission (the “Original Form 8-K”), reporting, among other items, that on May 19, 2022, Catalyst entered into and closed on an Asset Purchase Agreement with Vertex Pharmaceuticals Incorporated.
This Amendment No. 1 to the Original Form 8-K amends and supplements the Original Form 8-K solely to amend and restate Item 9.01 to the Original Form 8-K to file the pro forma financial information as Exhibit 99.2, to add Exhibit 99.2 to the exhibit list and to include a hyperlink to such Exhibit 99.2. Such pro forma financial information was inadvertently included in the Original Form 8-K as part of Exhibit 99.1 thereto.
Except as set forth herein, no modifications have been made to the information contained in the Original Form 8-K.
Item 9.01
Financial Statements and Exhibits.
(b) Pro Forma Financial Information
Catalyst’s unaudited pro forma condensed consolidated financial information is included as Exhibit 99.2 hereto and is incorporated by reference in this Item 9.01(b).
(d) Exhibits
Exhibit
No. Description
99.1 Press Release of Catalyst Biosciences, Inc. dated May 23, 2022 (incorporated by reference to Exhibit 99.1 to the Original Form 8-K filed on May 23, 2022).
99.2 Unaudited Pro Forma Condensed Consolidated Financial Statements of Catalyst Biosciences, Inc.
104 Cover Page Interactive Data File (formatted as Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CATALYST BIOSCIENCES, INC.
Date: May 23, 2022
/s/ Nassim Usman
Nassim Usman, Ph.D.
Buhahahahahahah
they haven't slept!
They shit on themselves!
They tried the onslaught!
pathetic
maybe someone went a little too short!
Oh ok sounds good
10k filed with the SEC.
Where you get that # from
So not thinking $60 will even be the top? Even if it is that’s up .60 from here right?
it would be curious if tomorrow they launch a partnering
90 mil cash
MarzAA and DalcA have shown sustained efficacy and safety in mid-stage clinical trials and are available for partnering.
CB 2679d-GT has obtained preclinical proof-of-concept and is also available for partnering.
Want partnering
Actual value per share is $1.93 is that accurate?
This sale is part of the ongoing strategic process that we announced in February to explore alternatives and create value for shareholders. We have significantly reduced our cash burn and continue to work with our advisors to evaluate additional strategic alternatives for Catalyst
Let’s break $2
Me as well. Next leg up forming. GL
I have the feeling that everyone who sells at 1 will buy at 2!
INTERESTING MC
1.09 +186% awesome day here.
Catalyst Biosciences (CBIO, $0.58) RSI Indicator left the oversold zone on April 22, 2022
A.I.dvisor at Tickeron, Inc
View Buy/Sell Recommendations
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04/22/22
@Biotechnology#TechnicalAnalysis#RSI#Bullish#PennyStocks#NanoCap
This is a signal that CBIO's price could be shifting from a downtrend to an uptrend. Traders may consider buying the stock or exploring call options. A.I.dvisor looked back and found 40 similar cases where CBIO's RSI Indicator left the oversold zone, and in 29 of them led to a successful outcome. Odds of Success: 73%.
https://tickeron.com/news/18134790-catalyst-biosciences-cbio-0-58-rsi-indicator-left-the-oversold-zone-on-april-22-2022?utm_source=stocktwits_free&utm_medium=news&utm_campaign=TA_RSI_14_CROSS_30_BUY&utm_term=Stock_70815_CBIO&utm_content=9309689
Catalyst Biosciences Reports Fourth Quarter and Year-end 2021 Operating
8:00 AM ET 3/31/22 | GlobeNewswire
Catalyst Biosciences Reports Fourth Quarter and Year-end 2021 Operating & Financial Results and Provides a Corporate Update
SOUTH SAN FRANCISCO, Calif., March 31, 2022 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ: CBIO) today announced its operating and financial results for the fourth quarter and year ended December 31, 2021 and provided a corporate update.
"In late 2021 we announced a strategic change in corporate strategy, pivoting from hemophilia to a highly promising complement therapeutics and protease medicines platform," said Nassim Usman, Ph.D., president and chief executive officer of Catalyst. "This month, we re-acquired the full rights to CB 2782-PEG adding to our promising portfolio, which includes CB 4332 our enhanced CFI development candidate. Having the full rights to these two potentially best-in-class candidates in dry AMD provides another opportunity in our exploration of strategic alternatives that was announced in February. We are also implementing expense reduction measures, including headcount, while we continue this process."
Recent Milestones
-- Regained the rights to CB 2782-PEG for the treatment of Dry AMD,
expanding the Company's complement portfolio in ophthalmology. With the
full rights to CB 2782-PEG back under the company's control, Catalyst now
has two wholly owned, potentially best-in-class development candidates.
Dry AMD is a leading cause of blindness in its severe form for which
there are no currently approved drugs. The potential dry AMD market is
estimated to be over $10 billion.
-- Received Rare Pediatric Disease Designation for CB 4332 for the treatment
of CFI Deficiency. Under the FDA's rare pediatric disease designation
program, the FDA may grant a priority review voucher to a sponsor that
received product approval for a rare pediatric disease. A rare pediatric
disease is defined as a serious or life-threatening condition that
affects less than 200,000 individuals in the U.S. per year and who are
primarily less than 18 years of age.
-- Announced plans to explore strategic alternatives for the company.
-- Implemented further personnel and cost reductions, including additional
headcount reductions of approximately 19 employees, or 70%, that are
expected to be completed by April 30, 2022.
Fourth Quarter and Year-End 2021 Results and Financial Highlights
-- Cash, cash equivalents, and, investments, as of December 31, 2021, were
$46.9 million.
-- Research and development expense for the three months and year ended
December 31, 2021 was $16.1 million and $68.9 million respectively,
compared with $14.6 million and $53.0 million for the prior year periods,
respectively. The increase was due primarily to an increase in MarzAA
clinical and manufacturing costs, preclinical research costs,
personnel-related costs including one-time severance costs associated
with our restructuring, and an increase in facilities costs.
-- General and administrative expense for the three months and year ended
December 31, 2021 was $4.2 million and $19.0 million, respectively,
compared with $4.3 million and $16.2 million, for the prior year periods,
respectively. This increase was due primarily to an increase in
personnel-related costs and an increase in professional services.
-- Interest and other income (expense), net for the three months and year
ended December 31, 2021 was $(16,000) and $(39,000) respectively,
compared with $(0.1) million and $1.1 million, for the prior year periods,
respectively. The $1.2 million decrease was primarily due to a decrease
in interest income and due to the payment received in the first quarter
of 2020 under an agreement associated with neuronal nicotinic receptor
asset sold in 2016.
-- Net loss attributable to common stockholders for the three months and
year ended December 31, 2021 was $20.3 million, or ($0.65) per basic and
diluted share, and $87.9 million, or ($2.87) per basic and diluted share,
respectively, compared with $18.9 million, or ($0.86) per basic and
diluted share, and $56.2 million, or ($2.93) per basic and diluted share,
for the prior year periods, respectively.
-- As of December 31, 2021, the Company had 31,409,707 shares of common
stock outstanding.
About Catalyst Biosciences, the Protease Medicines company
Catalyst is a research and clinical development biopharmaceutical company focused on developing protease therapeutics to address unmet medical needs in disorders of the complement system. Proteases are natural regulators of this biological system. We engineer proteases to create improved or novel molecules to treat diseases that result from dysregulation of the complement cascade. Our complement pipeline consists of several proteases that regulate the complement cascade including CB 2782-PEG, a C3 degrader for the potential treatment of dry age-related macular degeneration (dAMD), improved Complement Factor I protease CB 4332 for patients with deficiencies in CFI including dAMD, and proteases from our ProTUNE(TM) C3b/C4b degrader and ImmunoTUNE(TM) C3a/C5a degrader platforms designed to target other disorders of the complement or inflammatory pathways.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements include, without limitation, those regarding potential strategic alternatives, potential markets for CB 2782-PEG and CB 4332, plans for clinical development of CB 2782-PEG and CB 4332 in dry AMD, and the continued generation of candidates to treat diseases that result from dysregulation of the complement cascade, as well as statements about the benefits of our protease engineering platform. Actual results or events could differ materially from the plans, intentions, expectations, and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially, including, but not limited to, the risk that we will not identify or execute any strategic alternatives, that clinical trials and preclinical studies may be delayed as a result of COVID-19, competitive products, and other factors, that CB 2782-PEG, CB 4332 and the Company's complement degraders are not yet in human clinical trials and will require clinical additional testing, including multiple clinical trials, before being approved, that the Company will need to raise additional capital, and other risks described in the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 31, 2022, the Quarterly Report on Form 10-Q filed with the SEC on November 12, 2021, and in other filings filed from time to time with the SEC. The Company does not assume any obligation to update any forward-looking statements, except as required by law.
Contact:
Trisha Colton
Catalyst Biosciences, Inc.
investors@catbio.com
Weekly pincher chart looking real close to breaking out.
I wonder how the public offering at 5.75 will impact the trading short term...i guess will soon see.
RJ has them with a $20.00 target!!! Not bad...
JUST IN: $CBIO Catalyst Biosciences Receives US Patent for its Anti-Complement Factor 3 Portfolio of Engineered Proteases
SOUTH SAN FRANCISCO, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ: CBIO) today announced that the United States Patent and Trademark Office (USPTO) has issued US Patent Number 10,781,435 B2 entitled “Modified Membrane Type Serine Protease 1 (MTSP-1) Po...
Got this from CBIO - Catalyst Biosciences Receives US Patent for its Anti-Complement Factor 3 Portfolio of Engineered Proteases
Catalyst Biosciences, Inc. Is Maintained at Outperform by Raymond James
Forwarded this tin the SEC to see if it’s true.
CBIO 7.41 - enters an agreement with Biogen (BIIB). Friday's 8-K filing afterclose confirmed what was vague in the earlier pr:
Under the terms of the Agreement, the Company is entitled to receive from Biogen an up-front cash payment of $15 million. The Company is also eligible to receive from Biogen up to $340 million in clinical, regulatory, and commercial milestone payments. The Company will perform pre-clinical and manufacturing activities and Biogen will be solely responsible for Investigational New Drug (IND)-enabling activities, worldwide clinical development, and commercialization. Biogen will reimburse the Company for pre-clinical and manufacturing activities performed under the Agreement.
https://ih.advfn.com/stock-market/NASDAQ/catalyst-biosciences-CBIO/stock-news/81406145/current-report-filing-8-k
At 9/30 CBIO had $6.75 per share netcash remaining. This $15M upfront payment should increase their netcash and are all bills paid moving forward??? Sweetest offensive and defensive setup I see out there?
* * $CBIO Video Chart 12-19-2019 * *
Link to Video - click here to watch the technical chart video
News: $CBIO Catalyst Biosciences Announces Global License and Collaboration Agreement to Develop Pegylated CB 2782 for the Treatment of Dry Age-Related Macular Degeneration
SOUTH SAN FRANCISCO, Calif., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (Nasdaq: CBIO), today announced it has entered into a global license and collaboration agreement with Biogen Inc. (Nasdaq: BIIB) for the development and commercialization of pegylated CB 2782 (CB 2782-...
In case you are interested CBIO - Catalyst Biosciences Announces Global License and Collaboration Agreement to Develop Pegylated CB 2782 for the Treatment of Dry Age-Related Macular Degeneration
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All currently approved medicines for hemophilia are injected into a patient’s veins – at Catalyst, we believe that a clotting factor that could instead be injected just under the skin would enhance the treatment, and lives, of patients with hemophilia.
Catalyst is focused on the prevention of spontaneous bleeding in hemophilia, even during surgery, using our potent, coagulation factors to promote blood clotting. We plan to initiate two clinical trials in 2017, one in patients with Hemophilia B using our next-generation Factor IX, CB 2679d, and the other in hemophilia inhibitor patients using our next-generation Factor VIIa, marzeptacog alfa (activated) (formerly known as CB 813d).
Hemophilia patients suffer from spontaneous bleeding episodes and substantially prolonged bleeding times that can become limb- or life-threatening following injury or trauma. In cases of severe hemophilia, spontaneous bleeding into muscles or joints is frequent and often results in permanent, disabling joint damage. Hemophilia results from a genetic or acquired deficiency of a protein required for normal blood coagulation.
Hemophilia patients are currently treated with replacement therapy of key coagulation proteins, Factor VIII for Hemophilia A or Factor IX for Hemophilia B. A complication for hemophilia patients receiving factor replacement therapy is the production of antibodies against the replacement factor, also called inhibitors. The overall prevalence of inhibitor formation is up to 30% in patients with hemophilia A and up to 5% in patients with hemophilia B.
Inhibitor patients are treated with what are known as “bypass” agents that initiate coagulation by a pathway that is independent of Factor VIII or Factor IX. There are currently two approved “bypass agents”, Factor VIIa (for example NovoSeven™) and FEIBA™. However, current hemophilia drugs for patients with inhibitors have significant limitations regarding potency, duration of action and often require frequent dosing – and they are all injected intravenously which is not ideal for patients who predominantly take these medicines at home.
We believe that the shortcomings of currently approved therapies are barriers to prophylactic treatment strategies that, if surmounted, could provide meaningfully improved long-term clinical outcomes for patients. Catalyst's engineered proteases in the fields of hemostasis are designed to overcome the significant limitations of current treatment options, facilitate preventative treatment, and ultimately deliver substantially better outcomes for patients.
Catalyst created a portfolio of improved Factor IX proteases, including the clinical development candidate CB 2679d for treatment of hemophilia B, a life-long disease caused by a genetic deficiency in coagulation Factor IX.
The leading recombinant human Factor IX on the market for treating acute bleeding episodes in hemophilia B patients has a short half-life and is therefore not ideal for prophylactic treatment.
CB 2679d has shown significantly higher potency in pre-clinical studies versus other FIX products on the market and in development. Based on data from well-validated animal models of hemophilia, CB 2679d may provide hemophilia B patients with a viable subcutaneous prophylactic therapy.
Catalyst has a collaboration with ISU Abxis to advance the development of CB 2679d through Phase 1/2 proof-of-concept study in hemophilia B patients. After Phase 1, ISU Abxis retains exclusive commercial rights in Korea while Catalyst retains full development and commercial rights for CB 2679d outside of Korea.
Marzeptacog alfa (activated) (formerly known as CB 813d) is a next-generation Factor VIIa that was designed to allow for the effective, long-term, prophylaxis in hemophilia patients with inhibitors. Catalyst has successfully completed an intravenous Phase 1 clinical trial in patients with severe hemophilia A and B with and without inhibitors.
Catalyst designed marzeptacog alfa (activated) (formerly known as CB 813d) to combine higher clot-generating activity at the site of bleeding and improved efficacy. Catalyst anticipates that this product candidate could be used for subcutaneous prophylactic treatment.
Positive results from an open label, multicenter Phase 1 intravenous dosing clinical trial of marzeptacog alfa (activated) (formerly known as CB 813d) were reported in June 2015. Marzeptacog alfa (activated) (formerly known as CB 813d) was given intravenously to 25 non-bleeding hemophilia patients in single ascending dose cohorts who were then observed for up to 60 days post treatment. Results showed that single doses of marzeptacog alfa (activated) (formerly known as CB 813d) were well tolerated when administered to hemophilia A and B patients, and there were no instances of antibody response or thrombosis. Marzeptacog alfa (activated) (formerly known as CB 813d) demonstrated pharmacological efficacy as measured by significant shortening of aPTT (activated partial thromboplastin time) and PT (prothrombin time) for up to 48 hours post dosing. The results were presented in a poster session at the International Society on Thrombosis and Haemostasis (ISTH) Meeting in June 2015.
Catalyst has identified Factor Xa variants that have enhanced potency, improved safety, and superior duration of action in preclinical models of bleeding compared with a competing Factor Xa in clinical development. Catalyst believes that a safe and effective Factor Xa product has the potential to be used both to treat hemophilia patients and to reduce blood loss in trauma and surgery in patients with normal coagulation systems and clotting activity or those who are taking anti-platelet agents or anticoagulants.
Catalyst’s FXa program has reached the lead candidate stage of research and is available for partnering.
Catalyst has developed and optimized a propriety method to create novel proteases that include anti-C3 protease assets such as CB 2782 for ischemia-reperfusion injury such as delayed graft function (DGF) after kidney transplantation and the preclinical leads in the dry age-related macular degeneration (AMD) program. In 2016, Catalyst reduced resources deployed towards its anti-complement research programs and all related research activities were discontinued. These assets are available for partnering.
The complement cascade is a series of molecular processes that plays a central role in the body’s inflammatory and immune responses and helps to localize specific immune system cells at the site of infection or inflammation. Drugs that target the complement cascade could potentially be used in a number of indications, including prevention of transplant rejection, age-related macular degeneration, cardiovascular disease, pulmonary diseases, and autoimmune disease.
CB 2782 is a novel protease derived from human membrane type serine protease 1 (MTSP-1) that cleaves complement factor 3 (C3) and may be developed to prevent delayed graft function (DGF) following kidney transplant as a result of ischemia-reperfusion injury. Other opportunities might include coronary artery bypass graft (CABG), acute myocardial infarction (AMI), and stroke. Catalyst also has earlier stage, distinct anti-complement lead molecules for dry age-related macular degeneration (dry AMD) and other chronic, and selected orphan, diseases.
Catalyst created improved protease variants using a rational design strategy. In this process, a small number of amino acids in a given protease are substituted in an iterative fashion with different amino acids to improve a molecule’s biological properties. This approach led to product candidates that have the potential to be improved versions of Factor VIIa, Factor IX, and Factor Xa that may have many important and differentiated advantages including higher activity, longer duration of action, and improved safety.
Catalyst has developed and optimized a propriety method to create novel proteases that currently make up part of our partnering portfolio, including our anti-C3 proteases including CB 2782 for delayed graft function (DGF) and the leads in our dry age-related macular degeneration (AMD) program. In September 2016, Catalyst reduced resources deployed towards its anti-complement research programs and all related research activities were discontinued. Catalyst intends to explore licensing opportunities for its anti-complement programs in DGF and Dry AMD.
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