Biotech Values

[DewDiligence]

Catalyst Biosciences reverse-merges into TRGT public shell:

http://finance.yahoo.com/news/targacept-catalyst-biosciences-enter-definitive-233400776.html

Targacept, Inc. (TRGT) and Catalyst Biosciences, Inc., a privately held biopharmaceutical company, jointly announced today that they have entered into a definitive agreement to merge the two companies. The combined entity, to be named Catalyst Biosciences, Inc., is expected to create a financially strong company to harness the catalytic power of engineered human proteases to develop next-generation biopharmaceuticals with improved efficacy and therapeutic index to treat major diseases.

The ticker symbol will change from TRGT to CBIO in due course.

CC at 8:30a.m. ET tomorrow.