Catalyst Biosciences Announces Withdrawal of JDS1 Nominations to the Board

Rhea-AI Summary

Catalyst Biosciences (NASDAQ: CBIO) has announced the withdrawal of nominations for Board of Directors candidates by JDS1, LLC. The candidates, Shelly C. Lombard, Matthew Stecker, and Igor Volshteyn, will not be on the ballot for the 2022 Annual Meeting scheduled for August 15, 2022. Stockholders are encouraged to vote using the WHITE proxy card to ensure their votes are counted. Catalyst's product pipeline includes promising therapeutics for bleeding disorders, which are available for strategic partnerships.

Positive

• Candidates for Catalyst's Board withdrawn could lead to stability in governance.
• Pipeline products MarzAA and DalcA show sustained efficacy and safety in mid-stage trials.

Negative

• Pending litigation with JDS1 may lead to increased costs and uncertainty for the company.
• The withdrawal of candidates might indicate ongoing governance issues that could affect investor confidence.

Encourages Stockholders to Vote on the WHITE Proxy Card

SOUTH SAN FRANCISCO, Calif., Aug. 10, 2022 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ: CBIO) (the “Company,” “Catalyst” or “we”) announced that it has received a notice from JDS1, LLC (“JDS1”) that JDS1 has withdrawn the nominations of Shelly C. Lombard, Matthew Stecker, and Igor Volshteyn (the “Withdrawn Candidates”) for election to the Catalyst Board of Directors at the Catalyst 2022 annual meeting of stockholders (the “2022 Annual Meeting”), which is scheduled for August 15, 2022.

Accordingly, any votes cast for the Withdrawn Candidates will be disregarded at the 2022 Annual Meeting. JDS1 has not indicated whether it intends to submit votes cast by Catalyst stockholders on JDS1’s gold proxy card with respect to the other matters on the agenda at the 2022 Annual Meeting.

Catalyst encourages shareholders wishing to have their votes counted at the meeting to vote using the Company’s WHITE proxy card.

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”) has filed a definitive proxy statement, an accompanying WHITE proxy card and other relevant documents with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2022 annual meeting of stockholders (the “Annual Meeting”). BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders will be able to obtain a copy of the definitive proxy statement and other documents filed by the Company with the SEC free of charge from the SEC’s website at www.sec.gov. In addition, copies will be available at no charge by selecting “Financials & Filings” in the “Investors” tab of the Company’s website at www.catalystbiosciences.com.

Certain Information Regarding Participants in the Solicitation
The Company, its directors and certain of its executive officers will be participants in the solicitation of proxies from the Company’s stockholders in connection with the Annual Meeting. The names of these directors and executive officers and their respective direct and indirect interests, by security holdings or otherwise, in the Company are set forth in the Company’s definitive proxy statement filed with the SEC on July 19, 2022.

Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements include, without limitation, potential uses of and markets for MarzAA, DalcAA and CB 2679-GT, and Catalyst’s plans to continue to explore strategic alternatives. 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 risks that Catalyst’s obligations and liabilities will be greater than currently anticipated, that the pending litigation with JDS1 will not be resolved in a timely manner and the expenses associated with that litigation will be greater than anticipated, that Catalyst will not be able to identify strategic partners interested in MarzAA, DalcAA, CB 2679-GT or any other transaction with the Company, 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 May 9, 2022, 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 Information
Trisha Colton
Catalyst Biosciences, Inc.
investors@catbio.com

FAQ

What recent announcement did Catalyst Biosciences make regarding its Board of Directors?

Catalyst Biosciences announced that JDS1, LLC has withdrawn its nominations for three candidates for the Board of Directors at the 2022 Annual Meeting.

When is the Catalyst Biosciences 2022 Annual Meeting scheduled?

The Catalyst Biosciences 2022 Annual Meeting is scheduled for August 15, 2022.

What should stockholders use to vote at the Catalyst Annual Meeting?

Stockholders are encouraged to use the WHITE proxy card to ensure their votes are counted.

What is the significance of MarzAA and DalcA for Catalyst Biosciences?

MarzAA and DalcA are key product candidates that have shown sustained efficacy and safety in mid-stage clinical trials.

What risks does Catalyst Biosciences face according to their recent press release?

Catalyst Biosciences faces risks related to pending litigation with JDS1 and potential difficulties in finding strategic partners for its product pipeline.