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Dec 31, 2021
Gyre Therapeutics Q4 2021 Earnings Report
Catalyst Biosciences reported its Q4 2021 operating and financial results, pivoting its strategy towards complement therapeutics and protease medicines.
Key Takeaways
Catalyst Biosciences reported a net loss of $20.3 million for Q4 2021. The company is focusing on complement therapeutics, including CB 2782-PEG and CB 4332, and is exploring strategic alternatives while implementing cost reduction measures.
Regained rights to CB 2782-PEG for dry AMD treatment.
Received Rare Pediatric Disease Designation for CB 4332 for CFI Deficiency.
Announced plans to explore strategic alternatives for the company.
Implemented personnel and cost reductions, including a 70% headcount reduction.
Gyre Therapeutics
Gyre Therapeutics
Forward Guidance
Catalyst Biosciences is focused on developing protease therapeutics to address unmet medical needs in disorders of the complement system and is exploring strategic alternatives.
Positive Outlook
- Potential strategic alternatives for the company
- Potential markets for CB 2782-PEG and CB 4332
- Plans for clinical development of CB 2782-PEG and CB 4332 in dry AMD
- Continued generation of candidates to treat diseases that result from dysregulation of the complement cascade
- Benefits of the protease engineering platform
Challenges Ahead
- Risk that we will not identify or execute any strategic alternatives
- Clinical trials and preclinical studies may be delayed as a result of COVID-19, competitive products, and other factors
- CB 2782-PEG, CB 4332 and the Company’s complement degraders are not yet in human clinical trials and will require clinical additional testing, including multiple clinical trials, before being approved
- The Company will need to raise additional capital
- Other risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K