Crescent Biopharma Inc Stock Price, News & Analysis

Crescent Biopharma (NASDAQ:CBIO) has appointed Jan Pinkas, Ph.D. as Chief Scientific Officer. Dr. Pinkas brings over 20 years of experience in oncology drug development, with expertise in antibody-drug conjugates (ADCs) and translational research.

The appointment comes at a crucial time as Crescent prepares to advance two key programs: CR-001, a PD-1 x VEGF bispecific antibody expected to begin Phase 1 trials in early 2026, and CR-002, a novel ADC with planned IND submission in mid-2026. Dr. Pinkas previously served as CSO at Pyxis Oncology and held senior positions at Magenta Therapeutics and ImmunoGen, where he contributed to the development of ELAHERE® for ovarian cancer and SARCLISA® for multiple myeloma.

Crescent Biopharma has completed its merger with GlycoMimetics and closed a $200 million private placement led by prominent healthcare investors. The combined company will trade on Nasdaq as CBIO starting June 16, 2025. Following a 1-for-100 reverse stock split, each Crescent share converted to 0.1445 shares of the combined company, resulting in approximately 19.5 million shares outstanding. The financing, along with existing cash, will fund operations through 2027. Crescent's lead program, CR-001, a PD-1 x VEGF bispecific antibody, is scheduled for IND submission in Q4 2025, with clinical data expected in H2 2026. The company is also developing two novel ADCs (CR-002 and CR-003) for use as single agents and in combination with CR-001, with CR-002's IND submission planned for mid-2026.

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.