Catalyst Biosciences, Inc. Declares Special Cash Dividend of $1.43 per share
Catalyst Biosciences (NASDAQ: CBIO) announced a special one-time cash dividend of $1.43 per share, totaling approximately $45 million. This dividend is payable on September 20, 2022, to stockholders of record as of September 6, 2022. The company hints at the possibility of declaring additional special dividends in the future, although specific timing and amounts remain uncertain. Catalyst focuses on protease therapeutics aimed at rare bleeding disorders, with products like MarzAA and DalcA showing promise in mid-stage trials.
- Declaration of a special dividend of $1.43 per share, totaling approximately $45 million.
- Potential for future special dividends, indicating company confidence in cash flow.
- Risks associated with finding development partners for key products MarzAA, DalcA, and CB 2679d-GT.
- Possibility of liabilities exceeding expectations, which may limit future distributions.
SOUTH SAN FRANCISCO, Calif., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ: CBIO) (“Catalyst,” the “Company” or “we”) today announced that the Board of Directors has declared a special, one-time cash dividend of
The Company anticipates that it may declare one or more additional special dividends in the future, although there can be no assurance that such distributions will occur or the timing of such distributions.
About Catalyst Biosciences
Catalyst is a biopharmaceutical 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.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements include, without limitation, those regarding the amount and timing of planned cash distributions, potential uses of and markets for MarzAA, DalcA and CB 2679-GT, and potential partnering or other transactions for these products. 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 will be unable to find development partners for MarzAA, DalcA or CB 2679-GT, or that Catalyst’s obligations and liabilities will be greater than anticipated and limit other distributions, as well as the 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 August 15, 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
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