Shares Of Catabasis Pharmaceuticals See-Saw Following Results Of Duchenne Muscular Dystrophy Study

Shares of Catabasis Pharmaceuticals Inc CATB, a clinical-stage small-cap biopharmaceutical company, were highly volatile during Monday's trading session after the company MoveDMD trial. Catabasis Pharmaceuticals reported that all 3 doses of CAT-1004 that it tested for the treatment of Duchenne muscular dystrophy (DMD) during a Phase 1 / 2 trial were "generally well tolerated with no safety signals observed" and there were "no serious adverse events and no drug discontinuation." "The unmet medical need in Duchenne is profound and potential therapies that could make a meaningful difference are needed" said Richard Finkel, M.D., Division Chief, Division of Neurology, Department of Pediatrics at Nemours Children's Health System. "Showing positive safety, tolerability and pharmacokinetics results is an important milestone in the development of CAT-1004. I look forward to the advancement of this novel potential therapy." After opening for trading at $6.10, shares of Catabasis Pharmaceuticals surged to an intra-day high of $7.50 before reversing course and trading near the $6.00 level. By early afternoon, shares were trading at $6.60, up 13.60 percent on the day.