Crescent Biopharma Inc Stock Price, News & Analysis

Catalyst Biosciences (NASDAQ: CBIO) announced a definitive agreement with Vertex Pharmaceuticals (NASDAQ: VRTX) for the sale of its protease medicines portfolio, including CB 2782-PEG, for $60 million in cash. This move is part of Catalyst's strategy to explore monetization options and enhance shareholder value, a process underway since February. Catalyst's remaining product candidates include MarzAA, DalcA, and CB 2679d-GT, which are in various stages of development and available for partnering. The company aims to reduce cash burn while evaluating further strategic alternatives.

Catalyst Biosciences (NASDAQ: CBIO) reported first-quarter 2022 financial results, highlighting a net loss of $14.5 million or ($0.46) per share, an improvement from $22.4 million or ($0.79) per share year-over-year. Cash and cash equivalents stood at $34.8 million. The company regained rights to CB 2782-PEG for dry age-related macular degeneration (AMD) and received Rare Pediatric Disease Designation for CB 4332. R&D expenses decreased from $17.0 million to $9.7 million, reflecting cost reductions amidst a 70% staff reduction.

Catalyst Biosciences (NASDAQ: CBIO) reported its Q4 and full-year 2021 financial results, highlighting a strategic shift from hemophilia to complement therapeutics and protease medicines. The firm reacquired rights to CB 2782-PEG, expanding its dry AMD portfolio, a market potentially exceeding $10 billion. Catalyst also received Rare Pediatric Disease Designation for CB 4332. The company announced significant reductions in personnel (70%) and costs and reported a net loss of $20.3 million for Q4 and $87.9 million for the year, with cash and investments totaling $46.9 million as of December 31, 2021.

ShouTi Inc., a clinical-stage biopharmaceutical company, has appointed Sharon Tetlow to its board of directors, where she will also chair the audit committee. With over 30 years of experience in life sciences finance, Tetlow has previously held senior roles including CFO at various biopharmaceutical firms. She currently serves on the boards of Dice Therapeutics (DICE), Valneva SE (VALN), and Catalyst Biosciences (CBIO). Her expertise is expected to strengthen ShouTi's growth strategy as the company focuses on developing innovative oral therapeutics for chronic diseases.

Catalyst Biosciences (NASDAQ: CBIO) has regained full rights to CB 2782-PEG, a C3-degrader aimed at treating dry AMD, after Biogen ended their collaboration. CEO Nassim Usman highlighted the potential of CB 2782-PEG and another candidate, CB 4332, to address a significant market opportunity in dry AMD, estimated over $10 billion. The press release also notes the challenges ahead, including the need for further clinical trials and potential market risks.

Catalyst Biosciences (NASDAQ: CBIO) has engaged Perella Weinberg Partners as a financial advisor to explore strategic alternatives. The collaboration aims to monetize its hemophilia assets and find partners for its complement asset development. CEO Nassim Usman emphasized PWP's extensive network and expertise in accelerating business development efforts. Catalyst focuses on developing innovative protease therapeutics, addressing unmet medical needs in complement system disorders, including their CB 4332 protease and partnerships with Biogen.

Catalyst Biosciences announces the FDA's Rare Pediatric Disease Designation for its product CB 4332, aimed at treating Complement Factor I deficiency.

This designation highlights the unmet medical need in pediatric patients. The CEO, Nassim Usman, expressed commitment to advancing CB 4332 and their complement medicines portfolio. If approved, CB 4332 could qualify for a priority review voucher, a significant benefit under the FDA program.

Catalyst Biosciences announced its participation in the Piper Sandler 33rd Annual Virtual Healthcare Conference scheduled from November 29 to December 2, 2021. Members of the executive team will engage in a fireside chat accessible on-demand starting November 22, 2021, at 10:00 am ET. This event will be available for registered attendees until the conference concludes. The company focuses on protease therapeutics aimed at disorders of the complement system, including its preclinical C3-degrader program licensed to Biogen. An archived webcast will be available for 90 days post-conference.

Catalyst Biosciences (CBIO) reported its Q3 2021 financial results and announced the discontinuation of MarzAA development to focus on complement therapeutics. The decision stems from enrollment challenges and competition in clinical trials. The company plans to seek buyers for its hemophilia assets and anticipates a 40% reduction in burn rate. Financially, Q3 net loss was $25.2 million, compared to $16 million a year prior, with cash reserves of $64.5 million. Catalyst aims to advance its complement program, with notable progress in CB 4332 and ongoing trials.