Catalyst Biosciences Announces Closing of Public Offering of Common Stock
February 18 2020 - 4:05PM
Catalyst Biosciences, Inc. (NASDAQ:CBIO), a clinical-stage
biopharmaceutical company developing novel treatments for
hemophilia and other rare bleeding disorders, (the Company), today
announced the closing of an underwritten public offering of
5,307,692 shares of its common stock, offered at a price of $6.50
per share to the public, which includes the exercise in full by the
underwriters of their 30-day option to purchase up to an additional
692,307 shares of its common stock. The gross proceeds to the
Company from this offering were approximately $34.5 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses payable by the Company. All of the
shares in the offering were sold by the Company.
The Company anticipates using the net proceeds from
this offering for general corporate purposes, which may include
clinical and manufacturing activities for Marzeptacog alfa and
dalcinonacog alfa, research and development activities,
capital expenditures, selling, general and administrative costs,
facilities expansion, and to meet working capital needs.
Raymond James & Associates, Inc. acted as the
sole book-running manager and JonesTrading Institutional Services
LLC, Chardan and LifeSci Capital LLC acted as co-managers for
the offering.
A “shelf” registration statement on Form S-3 (File
No. 333-228970) relating to the public offering of the shares of
common stock described above was previously filed with and declared
effective by the Securities and Exchange Commission (SEC) on
February 14, 2019. A final prospectus supplement and accompanying
prospectus relating to the offering were filed with the SEC on
February 14, 2020 and are available on the SEC’s web site at
www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus may also be obtained from Raymond James
& Associates, Inc., Attention: Equity Syndicate, 880
Carillon Parkway, St. Petersburg, Florida 33716, by
telephone at (800) 248-8863, by e-mail
at prospectus@raymondjames.com.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any of the securities
described herein. There shall not be any offer, solicitation of an
offer to buy, or sale of securities in any state or jurisdiction in
which such an offering, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of
any such state or jurisdiction.
About CatalystCatalyst is a
clinical-stage biopharmaceutical company which is focused on
addressing unmet needs in rare diseases and systemic complement
mediated disorders. Our protease engineering platform includes
development programs in hemophilia and a research program on
subcutaneous systemic complement inhibitors. Our engineered
coagulation factors are designed to overcome the significant
limitations of current IV treatment options, facilitate
prophylaxis, and ultimately deliver substantially better outcomes
for patients using SQ dosing. Our lead asset, MarzAA, has completed
Phase 2 development having met its primary endpoint of
significantly reducing the annualized bleed rate (ABR) in
individuals with hemophilia A or B with inhibitors. Our second
hemophilia asset, DalcA, is in a Phase 2b clinical trial and is
being developed for the treatment of hemophilia B. We also have a
global license and collaboration agreement with Biogen for the
development and commercialization of pegylated CB 2782 for the
potential treatment of geographic atrophy associated dry
age-related macular degeneration.
Forward-Looking Statements
This press release contains forward-looking
statements that involve substantial risks and uncertainties. All
statements pertaining to the Company’s expectations regarding the
expected use of proceeds described in this press release constitute
forward-looking statements. All statements, other than statement of
historical facts (including, but not limited to, statements that
contain words such as “will,” “believes,” “plans,” “anticipates,”
“expects,” “estimates”) are forward-looking statements. Actual
results or events could differ materially from the plans,
intentions, expectations and projections disclosed in the
forward-looking statements. Various important factors could cause
actual results or events to differ materially from the
forward-looking statements that the Company makes, including, but
not limited to, the anticipated use of the proceeds of the offering
which could change as a result of market conditions or for other
reasons and other risks described the “Risk Factors” sections of
the Company’s most recent annual report filed with the SEC on March
8, 2019, quarterly report filed with the SEC on November 7, 2019,
the prospectus supplement related to the public offering and in
other filings with the SEC. The Company does not assume any
obligation to update any forward-looking statements, except as
required by law.
Contact:Ana Kapor Catalyst
Biosciences, Inc. investors@catbio.com
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