What Is Happening With Catalyst Biosciences Shares Today?

Catalyst Biosciences Inc CBIO has decided to halt the clinical development of MarzAA (engineered FVIIa) and focus solely on complement programs and protease medicines platforms.
MarzAA was under development for Factor VII deficiency, a blood clotting disorder.
Related Link: Catalyst Biosciences' Lead Candidate Secures Orphan Drug Tag For Blood Clotting Disorder.
The Company said that MarzAA trials had been adversely impacted by pandemic-related logistical challenges, subjects' competition, and increasing prophylaxis therapy availability.
Catalyst says that it is no longer feasible to deliver top-line data in 2022.
CBIO will report on the data obtained in the Crimson-1 trial to date for subcutaneous (SQ) MarzAA.
Halting development of MarzAA will allow the Company to reduce the burn rate by approximately 40%.
The Company expects to advance the clinical development of CB 4332 and continue to generate development candidates from the protease platform.
Cash, cash equivalents and, investments for Q3 stood at $64.5 million.
Price Action: CBIO shares slipped 33% at a 52-week low of $1.97 during the premarket session on the last check Friday.