Crescent Biopharma Inc Stock Price, News & Analysis

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.

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.

Catalyst Biosciences (NASDAQ: CBIO) announced plans to distribute $45 million to stockholders, contingent upon the swift resolution of a proxy contest and litigation with JDS1. The company aims to maximize stockholder value by monetizing assets and significantly reducing expenses. With a new cash distribution plan in place, Catalyst estimates potential distributions could total up to $65 million. However, ongoing legal challenges from JDS1 are hindering cash distribution, raising concerns about their intentions. Stockholders are urged to vote for Catalyst's nominees supporting the cash distribution plan in the upcoming Annual Meeting on August 15, 2022.

Catalyst Biosciences (NASDAQ: CBIO) announced an agreement with its largest shareholder, JEC II Associates, to support Catalyst’s nominees in the upcoming 2022 Annual Meeting on August 15. JEC will vote all shares in favor of Catalyst’s nominees and Michael Torok will join as an observer on the Transaction Committee. Catalyst plans a significant cash distribution to stockholders, estimating up to $65 million, contingent on the resolution of ongoing litigation. The company urges other shareholders to support this plan using the WHITE proxy card.