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Benzinga
Benzinga
Business
Henry Khederian

Why Catalyst Biosciences Shares Are Skyrocketing Today

Catalyst Nasdaq

Catalyst Biosciences Inc (NASDAQ:CBIO) shares are trading higher by 180.26% at $1.06 after the company announced it sold its complement portfolio for $60 million.

A definitive asset purchase and sale agreement with Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has allowed Vertex to acquire Catalyst's portfolio of protease medicines that regulate complement, including CB 2782-PEG, for $60 million in cash.

See Also: Why Inovio Pharmaceuticals Stock Is Rising Today

Catalyst Biosciences is a clinical-stage biopharmaceutical company. It mainly focuses on developing novel medicines to address serious medical conditions for individuals.

According to data from Benzinga Pro, Catalyst Biosciences has a 52-week high of $5.20 and a 52-week low of $3.05.

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