Catalyst Biosciences Inc. (CBIO) shares jumped 11.87% in after-hours on Thursday, September 09, 2021, and closed the daily trading at $4.90. In the regular trading session of Thursday, CBIO’s stock also performed well and gained 3.06%. CBIO shares have fallen 4.99% over the last 12 months, and they have moved down 9.13% in the past week. Over the past three months, the stock has lost 4.16%, while over the past six months, it has declined 29.24%.
Let’s see why did it perform exceptionally well on Thursday?
CBIO participation at International Conference on Complement Therapeutics (ICCT)
On September. 09, 2021, Catalyst Biosciences, Inc (CBIO) presented data at the International Conference on Complement Therapeutics (ICCT), being held September 8-13, 2021.
The oral presentation, “Complement Factor I (CFI) as a Protease Medicine: Engineered New Therapeutics for Complement-Mediated Disorders,” was presented by Natacha Le Moan, PhD, executive director, translational research, Catalyst Biosciences.
This study described the use of Catalyst’s proprietary ProTUNETM platform to engineer a diverse library of enhanced CFI proteases that degrade C3b and/or C4b. Administration of the degraders resulted in improved cleavage of C4b and C3b as well as a significant protection against an inflammatory cytokine response in a preclinical rodent model of sepsis.
CBIO’s new appointment
On September 08, 2021 Catalyst Biosciences, Inc (CBIO) appointed Jeanne Jew to its Board of Directors.
Ms. Jew has over 25 years of corporate development experience. She has served as the Chief Business Officer of ALX Oncology Holdings, Inc., since August 2020. Ms. Jew also currently serves as a QB3 Executive Mentor to early stage life science companies.
CBIO’s recent financial results announcement
On August 05, 2021, Catalyst Biosciences, Inc. (CBIO) released its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- CBIO reported a total license and collaboration revenue of $1.13 million in Q2 2021 compared to $1.66 million in Q2 2020.
- Total operating expenses were $21.04 million compared to $19.0 million in Q2 2020.
- It suffered a net loss of $19.9 million, or $0.64 per basic and diluted share in Q2 2021 compared with $17.2 million, or $0.96 per basic and diluted share in Q2 2020.
- As of June 30, 2021, the company had cash, and cash equivalents, and short-term investments totaled $86.5 million.
CBIO update about CB 4332 program
On July 22, 2021, Catalyst Biosciences, Inc (CBIO) announced the screening of the first patient in its CFI-deficiency study in the CB 4332 program, its wholly owned, first-in-class, enhanced Complement Factor I (CFI), intended for prophylactic subcutaneous (SQ) administration in individuals with CFI deficiency.
Conclusion
CBIO stock performed well after the company did poster presentation and it can further go up in the coming trading session on Friday.
