Why Catalyst Biosciences Shares Are Skyrocketing Today

Catalyst Biosciences Inc 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 VRTX has allowed Vertex to acquire Catalyst's portfolio of protease medicines that regulate complement, including CB 2782-PEG, for $60 million in cash.

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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.