Biotech Values

[Titan V]

CATB closes +13% from yesterday’s AH low upon the layoff news.

The line in bold from yesterday’s PR stood out to me:

Edasalonexent is being developed as a potential disease-modifying therapy for all patients affected by DMD, regardless of their underlying mutation. In the Phase 2 MoveDMD trial and open-label extension, edasalonexent has demonstrated consistent and sustained slowing of disease progression in boys with DMD through more than a year of treatment compared to the off-treatment control period. No evidence of side effects or safety issues common with the current DMD standard of care have been observed after more than 37 patient-years of exposure to edasalonexent. Catabasis is preparing for a single global Phase 3 trial to evaluate the efficacy and safety of edasalonexent for registration purposes, dependent on raising capital.

Haven’t seen a company say they may start a phase 3 depending on capital raise. I am curious if I am reading into it too much or if they are selling the company and used the vague language intentionally.