Catalyst Biosciences To Drop Lab-Made Clotting Factor

Catalyst Biosciences ($CBIO@US) has decided to halt the clinical development of its lab-made clotting factor to prevent acute bleeds in hemophilia patients with inhibitors. It will now focus solely on complement programs and protease medicines platforms. The company said that trials for the treatment have been adversely impacted by pandemic-related logistical challenges, competition, and the increasing therapies available. Catalyst also reports that halting development will allow it to reduce the burn rate by approximately 40%. The company plans to advance the clinical development of CB 4332, a protein that could eventually be used to restore and rebalance the root cause of an ultra-rare disorder that affects the immune system. Cash, cash equivalents, and investments for the third quarter stood at $64.5 million. Shares slipped 33% at a 52-week low of $1.97 during the premarket session last Friday.