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Sep 30, 2021
Gyre Therapeutics Q3 2021 Earnings Report
Catalyst Biosciences shifted focus to complement therapeutics and protease medicines platform and discontinued MarzAA development.
Key Takeaways
Catalyst Biosciences announced a strategic decision to halt the clinical development of MarzAA and focus on its complement therapeutics and protease medicines platform. The company reported a net loss of $25.2 million for the third quarter of 2021.
Strategic decision to stop the clinical development of MarzAA.
Focus on complement programs and protease medicines platform.
Exploring opportunities to license or sell MarzAA and DalcA portfolios.
Reduce burn rate by approximately 40%.
Revenue by Segment
Forward Guidance
Catalyst Biosciences is focused on advancing the clinical development of CB 4332 and generating development candidates from its protease platform.
Positive Outlook
- Swiftly move forward with clinical development of CB 4332.
- Continue the generation of candidates from the protease platform that will either be licensed or self-developed.
- Reduction of burn rate.
- Potential that complement will open opportunities in multiple disease settings.
- Successfully completing the transfer of CBIO supported activities to Biogen for CB 2782-PEG.
Challenges Ahead
- Clinical trials and preclinical studies may be delayed as a result of COVID-19, competitive products, and other factors.
- Biogen could terminate our agreement for the development of CB 2782-PEG.
- The Company’s complement degraders are not yet in human clinical trials and will require additional manufacturing validation and preclinical testing before entering human clinical trials.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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