Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off $5.50 level and now trading above $6 handle.

Catalyst Biosciences Inc (NASDAQ:CBIO) Sees Morning Volatility

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off the 45.50 level and are now trading above the $6 handle. Volume, as of 10 AM EST, is already at 1.2 million shares. CBIO shares have a listed daily average of just over 271,000. The company has released no news, or made any filings, that could account for the morning’s volatility.

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc. (NASDAQ:CBIO) is a clinical-stage biopharmaceutical company focused on developing novel medicines to address hematology indications. Catalyst is focused on the field of hemostasis, including the subcutaneous prophylaxis of hemophilia and facilitating surgery in individuals with hemophilia. Catalyst’s most advanced program is a potent next-generation coagulation Factor VIIa variant, marzeptacog alfa (activated), that has successfully completed an intravenous Phase 1 clinical trial in individuals with severe hemophilia A or B.

CBIO Stock

In February, Catalyst Biosciences Inc. (NASDAQ:CBIO) underwent a reverse stock split to stay in compliance with NASDAQ rules regarding low priced stock. Dilution has been an issue for shareholders of CBIO. In 2013, there were 20,000 shares outstanding. By the end of 2016 that number had ballooned to 780,000.

Sales have also been going in the wrong direction. In 2012 Catalyst reported sales of $57.9 million. However, that figure was just $400,000 for FY 2016. On a diluted adjusted basis, EPS loss for 2013 was -$409.30. That loss shrank steadily and the EPS loss for CBIO was -$21.75 for 2016.

Of particular note is that the company reports a cash per share value of $6.35. Shares are trading around that level this morning. Analysts have given CBIO shares a rating of “Strong Buy”. Their consensus, one-year price target is $12.33.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CBIO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Catalyst Biosciences Inc (NASDAQ:CBIO) Stock Surges On Hemophilia B Trial

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) stock jumped 11.50% after announcing positive clinical data from an ongoing Phase ½ proof-of-concept in people suffering from severe hemophilia B. According to the biopharmaceutical company, top line potency results support the use of CB 2679d as a subcutaneous therapy for the prevention of bleeding in patients with Hemophilia B.

The positive factor IX clinical data helped push the stock to a key resistance level at the $4.00 a share level before it retreated to the $3.78. The stock continues to trade in a year-long downward trend, but investors are waiting to see if the news will help CBIO reverse direction.

Catalyst Biosciences Inc (NASDAQ:CBIO)
One month CBIO stock price chart

Positive CB 2679d Trial Results

Clinical trial results indicate that an intravenous dose of CB 2679d is about 22 times more potent than a case of BeneFIX. The factor IX protease was also found to have the ability to stay in circulation much longer – for up to 34 hours compared to BeneFIX which remains for up to 25 hours.

“We believe that CB 2679d will have advantages over the currently approved intravenous prophylactic treatments that are known to have a prolonged period of low activity levels with increased risk of spontaneous bleeding,” said Nassim Usman, Ph.D., Catalyst Biosciences Inc (NASDAQ:CBIO)’s President and Chief Executive Officer.

Catalyst Biosciences Inc (NASDAQ:CBIO) has already received $0.7 million from ISU Abxis to be used on development of the intravenous prophylactic treatment. It has also received Orphan Medicine Designation from the European Commission for the use of SQ CB 2679d on hemophilia B patients.

Financial stability

Positive CB 2679D trial results come on the heels of Catalyst Biosciences making significant progress in the second quarter in both its clinical programs and balance sheet. The company raised $26 million for the first six months of the year with $2.7 million coming from the underwritten public offering and $5.3 million from its Capital in demand program.

Catalyst Biosciences Inc. (NASDAQ:CBIO) had a total of $32.4 million in cash and a cash equivalent as of the end of the quarter which it believes is sufficient to finance all projects going forward. The company exited the second quarter with a net loss of (-$9.8) million double a net loss of (-$4.8) million reported last year.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CBIO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

Catalyst Biosciences Inc (NASDAQ:CBIO) Reports Q1 Revenue Of $0.3 Million

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) has started the year with a slight jump in its quarterly revenue. The company reported $0.3 million in revenue in Q1 2017. This is a major improvement from the $0.1 million that the company reported in Q1 2016. The quarterly revenue benefited from $0.2 million in milestone revenues that Catalyst earned from ISU Abxis.

In 2016, Catalyst Biosciences Inc (NASDAQ:CBIO) restructured its staffing needs. This paid off by reducing personnel-related costs as the company reported a slight drop in its research and development expenses. The company reported $2.1 million in research and development revenue in Q1 2017, a drop from the $2.3 million reported in Q1 2016. The company further reported $2.4 million in general and administrative expenses in Q1 2017, which is similar to what was reported in Q1 2016.

The company however reported a decrease in its interest earnings and other incomes. In Q1 2017, the company earned $0.03 million compared to $1.0 million that was reported in Q1 2016. The company has attributed the decrease to the $1.0 million gain reported last year which was related to a change in the value of a derivative liability.

Catalyst Biosciences Inc (NASDAQ:CBIO) reported an increase in its net loss. The company reported (-$4.1) million or (-$4.57) per share in net loss compared to (-$3.6) million or (-$4.71) per share reported in Q1 2016.

At the close of the quarter, the company had a much stronger cash position with $14.5 million in cash, cash equivalents plus short term investments. The company further raised an additional $20.7 million from an underwritten public equity offering and $3.5 million from its at-the-market offering program with JonesTrading. The company believes the current cash will be able to finance its operating requirements for the next 12 months. At the close of Q1 2017, the company had around 1.0 million shares of common stock which rose to around 4.26 million by May 4, 2017.

In a statement, Catalyst Biosciences Inc (NASDAQ:CBIO)’s President and Chief Executive Officer, Nassim Usman, said the company has made a lot of progress after completing the IND-enabling preclinical trials for the company’s subcutaneous Factor IX program. He added that the IND has been approved in South Korea and now they will be focusing on a Phase 1/2 proof-of-concept clinical study in severe hemophilia B patients. The company also plans to initiate Phase 2 part of a Phase 2/3 clinical study evaluating the efficacy of Marzeptacog alfa.

The company has announced that its CB 2679d/ISU304 has been given an Orphan Drug designation by the Committee for Orphan Medicinal Products (COMP), a branch of the European Medicines Agency (EMA). The product is used for treatment of hemophilia B. Many of the current approved treatments for hemophilia B utilize intravenous infusions as the delivery method.

Catalyst Biosciences Inc (NASDAQ:CBIO) stock had an impressive 13.43% raise to close the session at $4.73 per share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.