Crescent Biopharma Inc Stock Price, News & Analysis

Catalyst Biosciences (NASDAQ: CBIO) reported notable advancements and financial outcomes for Q2 2020, ending June 30, 2020. The company holds approximately $117 million in cash, supporting ongoing pipeline development, including pivotal Phase 3 trials of MarzAA for hemophilia. The quarterly net loss was $17.2 million, with a loss per share of $0.96, compared to a loss of $13.8 million and $1.15 per share in Q2 2019. R&D expenses increased by 16% to $12.9 million. Catalyst aims to initiate further trials and identify candidates in its gene therapy and complement programs by late 2020.

Catalyst Biosciences (NASDAQ: CBIO) presented data regarding marzeptacog alfa (activated) (MarzAA) at the ISTH Virtual Congress. The Phase 1 study showed that MarzAA quickly achieves therapeutic levels for treating acute bleeding in hemophilia patients. A Population PK model confirmed effective dosing for the upcoming Phase 3 trial, Crimson 1, set to start in late 2020. The results suggest a significant market opportunity for MarzAA, addressing a crucial need in bleeding disorder treatments.

Catalyst Biosciences (NASDAQ: CBIO) announced that Clinton Musil has been granted a non-qualified stock option to purchase 140,000 shares of common stock. This is part of his inducement package as the new Chief Financial Officer, effective July 1, 2020. The option has a ten-year term with an exercise price of $5.88 and will vest over four years. Catalyst focuses on developing treatments for rare hematologic conditions and has multiple clinical programs, including MarzAA, a next-generation treatment for hemophilia, set for a Phase 3 study in late 2020.

Catalyst Biosciences (NASDAQ:CBIO) has been added to the Russell 2000 Index effective June 29, 2020. This inclusion, resulting from the Russell index reconstitution, ranks the company among the 4,000 largest U.S. stocks based on market capitalization. Membership in the Russell 2000 also means inclusion in growth and value style indices. Russell indices are widely used by investment managers, with approximately $9 trillion in assets benchmarked against them. Catalyst is focused on innovative treatments for rare hematologic disorders, utilizing its proprietary protease engineering platform.

Catalyst Biosciences (NASDAQ: CBIO) announced two presentations at the International Society on Thrombosis and Haemostasis (ISTH) Virtual Congress, scheduled for July 12-14, 2020. The presentations will focus on marzeptacog alfa (activated), a next-generation treatment for hemophilia. Key topics include a Phase 1 study detailing pharmacokinetics and safety, and population pharmacokinetics simulations for dose selection in Phase 3 trials. Catalyst aims to address unmet needs in rare hematologic disorders with its protease engineering platform, and its lead candidate is set for a Phase 3 study later this year.

Catalyst Biosciences (NASDAQ: CBIO) has successfully closed an underwritten public offering of 4,615,384 shares at $6.50 each, generating $30 million in gross proceeds. The funds will support general corporate purposes including R&D for its complement program and clinical activities for marzeptacog alfa and dalcinonacog alfa. The offering was managed by Raymond James & Associates, Inc., with other partners in the underwriting process. Catalyst has previously filed a shelf registration statement for this offering, aiming to enhance its financial positioning amidst ongoing clinical developments.

Catalyst Biosciences (NASDAQ: CBIO) has appointed Charles Democko as Senior Vice President of Regulatory Affairs, bringing over 20 years of experience in the field. He will spearhead the regulatory strategy for the company’s portfolio targeting rare hematologic and systemic complement-mediated disorders. Democko's previous leadership role at CytomX and his track record in successful marketing applications are expected to bolster Catalyst’s regulatory efforts as it prepares for key milestones. The company’s advanced product candidates include SQ MarzAA and subcutaneous dalcinonacog alfa (DalcA), with Phase 3 trials planned for late 2020.

Catalyst Biosciences (NASDAQ: CBIO) presented preclinical data on its hemophilia B gene therapy, CB 2679d-GT, at the World Federation of Hemophilia Virtual Summit. The therapy demonstrated a 4-fold reduction in blood loss and an 8-fold decrease in bleeding time compared to the Padua variant in mice. Additionally, a pilot study showed stable FIX expression levels above baseline in non-human primates. Catalyst's innovative gene therapy could offer advantages over existing AAV-based options. Future studies, including a Phase 3 trial for SQ MarzAA, are planned for late 2020.

Catalyst Biosciences (NASDAQ: CBIO) announced a public offering of its common stock, subject to market conditions. The company plans to grant underwriters a 30-day option to purchase an additional 15% of shares. Proceeds will support general corporate purposes, including research, development activities for marzeptacog alfa and dalcinonacog alfa, and working capital needs. The offering is based on a previously effective shelf registration statement with the SEC. Raymond James & Associates acts as the sole book-running manager.