CBIO - Biotech Soars On Asset Purchase Agreement

A San Francisco-based %Biotech company is off to the races on Tuesday morning after the company announced it has signed an asset purchase agreement with GCBiopharma (GCBP) pursuant to which GCBP acquired the Company’s legacy rare %BleedingDisorders programs including marzeptacog alpha activated (MarzAA), dalcinonacog alpha (DalcA) and CB-2679d-GT for a total of $6 million, $1 million payable on signing and $5 million payable on February 28, 2025, subject to satisfaction of post-closing indemnification obligations, according to the release.

This announcement sent shares of %CatalystBiosciences () soaring up to $0.3488/share (+45.33%) at the session high. This move could indicate that support has been found after shares dropped last month.

Catalyst Biosciences Inc is a clinical-stage %Biopharmaceutical company. It mainly focuses on developing novel medicines to address serious medical conditions for individuals in need of treatment options. The company emphasizes product development efforts in the field of hemostasis and to develop valuable therapies for individuals with hemophilia. It is engaged in the clinical development of improved, next-generation subcutaneous prophylaxis using enhanced potency Factor VIIa and Factor IX variants.