Biotech Values

[DewDiligence]

CBIO—With traditional financing unavailable, some small biotechs are resorting to asset sales:

https://finance.yahoo.com/news/catalyst-biosciences-sells-complement-portfolio-123000192.html

Catalyst Biosciences…today announced that it has signed a definitive asset purchase and sale agreement with Vertex Pharmaceuticals Incorporated under which Vertex has acquired Catalyst’s portfolio of protease medicines that regulate complement, including CB 2782-PEG, for $60 million in cash.

“We have been exploring strategic alternatives to monetize our assets and maximize value for our shareholders. 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,” said Nassim Usman, Ph.D., Chief Executive Officer of Catalyst Biosciences.

There were two such transactions today; KALA was the other (#msg-168944055).