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Mar 31, 2022
Gyre Therapeutics Q1 2022 Earnings Report
Catalyst Biosciences reported first quarter results, regained rights to CB 2782-PEG, and implemented personnel and cost reductions.
Key Takeaways
Catalyst Biosciences reported a net loss of $14.5 million for the first quarter ended March 31, 2022. The company regained the rights to CB 2782-PEG and decreased headcount by over 70% as part of cost reduction efforts.
Regained rights to CB 2782-PEG for dry AMD treatment.
Received Rare Pediatric Disease Designation for CB 4332 for CFI Deficiency.
Cash and cash equivalents were $34.8 million as of March 31, 2022.
Net loss attributable to common stockholders was $14.5 million, or ($0.46) per share.
Gyre Therapeutics
Gyre Therapeutics
Forward Guidance
This press release contains forward-looking statements that involve substantial risks and uncertainties.
Positive Outlook
- Potential markets for CB 2782-PEG
- Potential markets for CB 4332
- Plans to explore strategic alternatives
- Potential to obtain a priority review voucher for CB 4332
Challenges Ahead
- Risk that CB 2782-PEG are not yet in human clinical trials and will require additional clinical testing, including multiple clinical trials, before being approved
- Risk that CB 4332 are not yet in human clinical trials and will require additional clinical testing, including multiple clinical trials, before being approved
- Risk that the Company’s complement degraders are not yet in human clinical trials and will require additional clinical testing, including multiple clinical trials, before being approved
- Effort to identify strategic alternatives will not be successful
- Other risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2022, the Quarterly Report on Form 10-Q filed with the SEC on May 9, 2022, and in other filings filed from time to time with the SEC.