Catalyst Biosciences Shares Rise Premarket After Key FDA Designation
January 25 2022 - 7:55AM
Dow Jones News
By Colin Kellaher
Shares of Catalyst Biosciences Inc. rose almost 20% in premarket
trading Tuesday after the biopharmaceutical company said the U.S.
Food and Drug Administration granted rare-pediatric-disease
designation to CB 4332, its lead pipeline candidate, for the
treatment of the genetic disorder complement factor I
deficiency.
The FDA's rare-pediatric-disease designation covers diseases
with serious or life-threatening manifestations that mainly affect
fewer than 200,000 people in the U.S. under the age of 18. The
agency awards priority-review vouchers to drugmakers upon approval
of drugs that are granted the designation, and those vouchers can
be used to obtain priority review for another drug or sold to other
companies.
The South San Francisco, Calif., company said it is focused on
efficiently advancing the development of CB 4332 and its complement
medicines portfolio in a number of complement-driven diseases in
hematology, nephrology and ophthalmology.
Catalyst shares, which closed Monday at 63 cents, were recently
up 19% in premarket trading at 75 cents. The stock is down roughly
90% from its 52-week high of $7.55 reached last February.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 25, 2022 08:40 ET (13:40 GMT)
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