Catalyst Biosciences Shares Soar After Complement Portfolio Sale
May 23 2022 - 10:08AM
Dow Jones News
By Colin Kellaher
Shares of Catalyst Biosciences Inc. more than doubled in early
trading Monday after the biopharmaceutical company said it sold its
portfolio of protease medicines that regulate complement to Vertex
Pharmaceuticals Inc. for $60 million in cash.
The South San Francisco, Calif., company in February said it
planned to explore options to monetize its assets, and it hired
investment bank Perella Weinberg Partners to assist with the
process.
Catalyst said it has significantly reduced its cash burn, and
that it continues to work with its advisers to evaluate additional
moves.
The company said its product candidates now consist of the
coagulation-related assets marzeptacog alfa (activated),
dalcinonacog alfa and CB 2679d-GT.
Catalyst shares, which closed Friday at 38 cents, were recently
changing hands at 92 cents.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 23, 2022 09:53 ET (13:53 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Vertex Pharmaceuticals (NASDAQ:VRTX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vertex Pharmaceuticals (NASDAQ:VRTX)
Historical Stock Chart
From Sep 2023 to Sep 2024