Catalyst Biosciences, Inc. (CBIO) is a leading global Biotherapeutics company engaged in the development of treatments for different rare diseases. One of the pipeline candidates of the company is CB 4332 for treating dry age-related macular degeneration. Also, ProTUNE and ImmunoTUNE platforms are developed to treat diseases of the inflammatory pathways.
The price of CBIO stock during the regular trading on January 25, 2022, was $0.58 with a steep drop of 7.05%. At last check in the aftermarket, the stock was further down by 5.74%.
CBIO: Events and Happenings
On January 25, 2022, CBIO reported about filing an 8-K form of unscheduled material events or corporate events to the SEC. On January 25, 2022, CBIO reported about the Rare Pediatric Disease Designation grant by FDA for CB 4332.
CBIO: CEO Comments
Speaking at the occasion, CBIO CEO Nassim Usman said that the grant of RPDD highlights the important unfulfilled medical needs in the patients. He further added that the company is rapidly engaged in the production of CB 4332.
On November 22, 2021, CBIO reported that the company’s Executives presented at the Virtual 33rd Annual Piper Sandler Healthcare Conference held on November 29-December 2, 2021.
CBIO: Key Financials
On November 12, 2021, CBIO reported its financial results for the third quarter ended September 30, 2021. Some of the key features are as follows.
Net Loss per Share
Basic and diluted net loss per share in Q3 2021 was $25.2 million, or $0.80 compared with $16.0 million, or $0.73 for the same period the prior year.
Total current assets in Q3 2021 were recorded to be $73.9 million.
On October 29, 2021, CBIO reported that the company’s management presented at the following two scientific conferences.
- The 5thComplement-based Drug Development Summit held on October 26-28, 2021
- The Virtual American Society for Biochemistry and Molecular Biology’s Meeting was held on October 28-30, 2021.
The performance of CBIO stock was not appreciable from the past six months as the company’s stock dipped by 86%. The recent aftermarket drop in the stock price is the result of the current SEC filing by the company of its 8-K form, as predicted by the analysts. The financial experts believe that the company should rediscover its policies and make them investor-friendly.