Catalyst Biosciences, Inc. - CBIO STOCK NEWS

Catalyst Biosciences (NASDAQ: CBIO) announced key updates regarding asset transactions with GNI Group and GC Biopharma. The GNI Transactions involve acquiring the F351 Assets, linked to GNI's hydronidone compound, alongside its controlling interest in Beijing Continent Pharmaceutical, which reported $102 million in revenue for 2022. Meanwhile, Catalyst sold its rare bleeding disorders programs to GC Biopharma for $6 million, enhancing shareholder returns. The proceeds from this transaction will benefit stockholders of record as of January 5, 2023. Catalyst focuses on developing F351 for treating fibrotic diseases.

GC Biopharma has entered into an acquisition agreement with Catalyst Biosciences (CBIO) to obtain three programs focused on orphan hematology disorders. This includes the Phase 3-ready 'Marzeptacog alfa (MarzAA)', which has shown efficacy for rare bleeding disorders and offers the convenience of subcutaneous administration. GC Biopharma aims to leverage this acquisition to develop and launch a first-in-class drug, enhancing its position in global markets, particularly in the US. The move aligns with the company's commitment to improving therapeutic options for hemophilia and other rare disorders.

Catalyst Biosciences (NASDAQ: CBIO) announced the acquisition of F351, a Phase 3 drug for liver and kidney fibrosis, from GNI Group. The transaction includes a controlling interest in Continent, a profitable Chinese pharma company. Catalyst plans to distribute a $7.5 million special dividend on January 12, 2023, alongside a Contingent Value Right (CVR) for future dividends. Continent has recorded $73 million in sales for the first nine months of 2022. Catalyst’s stockholder meeting is set for 2023 to seek approvals for both acquisitions, expected to consolidate the operations of Continent.

Catalyst Biosciences, Inc. (NASDAQ: CBIO) announced a special cash dividend of $1.43 per share, with an ex-dividend date of September 21, 2022. The payout will be made on September 20, 2022 to shareholders of record as of September 6, 2022, amounting to approximately $45 million. The Company also hinted at the possibility of additional special dividends in the future, although timing and occurrence cannot be guaranteed.

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.

Catalyst Biosciences, Inc. (NASDAQ: CBIO) has announced the dismissal of lawsuits by JDS1, LLC, a significant shareholder. This development allows the Board of Directors to discuss an initial capital distribution to shareholders, with details to follow. JDS1 has also agreed to a standstill and mutual releases, with Catalyst covering some of JDS1's expenses. Future announcements will specify the record date and distribution amounts. Catalyst continues to focus on protease therapeutics for medical needs, with promising assets undergoing clinical evaluation.

Catalyst Biosciences, Inc. (NASDAQ: CBIO) reported significant financial results for Q2 2022. The company completed the sale of its complement portfolio to Vertex Pharmaceuticals for $60 million, contributing to a substantial increase in cash reserves to $75.4 million. The second quarter net income reached $51.6 million, or $1.64 per share, a notable improvement from a loss of $19.9 million in the same period last year. Catalyst plans to distribute up to $65 million to shareholders, pending resolution of ongoing litigation.

JDS1, LLC, which owns approximately 8.4% of Catalyst Biosciences, Inc. (NASDAQ: CBIO), announced the withdrawal of its director nominations and non-binding proposals ahead of Catalyst's 2022 Annual Meeting. This decision included terminating its proxy contest, with no agreements made with Catalyst regarding this withdrawal. JDS1 advised Catalyst's stockholders that the GOLD proxy cards previously received will not be counted and will be discarded.