Catalyst Bio halts development for blood clotting disorder med

 

• Catalyst Biosciences Inc 
  CBIO -38.27%
   (Get Free Alerts for 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.
• 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.

https://www.benzinga.com/general/biotech/21/11/24060021/what-is-happening-with-catalyst-biosciences-shares-today