Frankestin
1 year ago
Continent is profitable with a robust fibrosis pipeline in various stages of development, including a Phase 3 study of F351 in HBV associated fibrosis and a Phase 2 study poised to initiate in NASH fibrosis.โ
The quastion is: 2.5% of that, How much is it worth?
the merger must be voted on!
I wouldn't go short!
So..
The Company's product candidates consist of the coagulation-related assets marzeptacog alfa (activated) (MarzAA), dalcinonacog alfa (DalcA), and CB 2679d-GT.
This agreement will bring to GC Biopharma 3 programs, including "Marzeptacog
alfa (MarzAA)"
if the merger is approved, the loot goes to whoever has the cvr otherwise to everyone...
keep going short LOLOLOL
Frankestin
1 year ago
I guess they will ask to vote soon
https://www.daiwair.co.jp/td_download.cgi?c=2160&i=2522199
Both the conversion of the Series X preferred stock and the acquisition of a 65.18% interest in Continent will be subject to Catalyst stockholder approval, which will be sought in 2023. If the acquisition is approved by stockholders, Catalyst would issue at closing a total of up to 1,110,776,224 shares of common stock for a controlling interest in Continent, at which point Catalyst would expect to consolidate results of operations with Continent.
โThe asset purchase of F351 and the subsequent business combination with Continent allows CBIO to both accelerate the return of cash to stockholders and provide additional value to our stockholders through equity ownership of Continent and a CVR for the monetization of our legacy assets,โ said Nassim Usman, Ph.D., chief executive officer of Catalyst Biosciences. โThe company is continuing its efforts to monetize the legacy assets, and we expect to distribute additional cash in 2023. We believe that this set of transactions creates an attractive fibrosis company with further upside for our stockholders. Continent is profitable with a robust fibrosis pipeline in various stages of development, including a Phase 3 study of F351 in HBV associated fibrosis and a Phase 2 study poised to initiate in NASH fibrosis.โ
Frankestin
1 year ago
Will Acquire Controlling Interest in Continent, a China-Based Commercial Pharma Company, from the GNI Group in Subsequent Transaction
Announces $7.5 Million Special Dividend and Contingent Value Right (CVR)
On December 26, 2022, Catalyst Biosciences, Inc., a Delaware corporation (?Catalyst?), acquired the F351 Assets (as defined below) from GNI Group Ltd., a company incorporated under the laws of Japan with limited liability (?GNI Japan?), and GNI Hong Kong Limited, a company incorporated under the laws of Hong Kong with limited liability (?GNI Hong Kong? and, together with GNI Japan, the ?Sellers?), pursuant to that certain Asset Purchase Agreement, dated December 26 2022 (the ?F351 Agreement?), by and among Catalyst and the Sellers. Pursuant to the F351 Agreement, Catalyst acquired all of the assets and intellectual property rights primarily related to the Sellers? proprietary Hydronidone compound (collectively, the ?F351 Assets?), other than such assets and intellectual property rights located in the People?s Republic of China. The F351 Assets include 15 issued or pending patents and patent applications outside of the People?s Republic of China, with the last acquired issued patent expected to expire in August 2037.
Under the terms of the F351 Agreement and upon the effective time of the transactions contemplated by the F351 Agreement (the ?F351 Effective Time?), Catalyst paid the Sellers $35,000,000 in the form of: 6,266,521 shares of Catalyst common stock, par value $0.001 per share (the ?Catalyst Common Stock?); and 12,340 shares of Catalyst Series X Convertible Preferred Stock, par value $0.001 per share (the ?Catalyst Convertible Preferred Stock? and collectively with the Catalyst Common Stock issued pursuant to the F351 Agreement, the ?Catalyst F351 Securities?).
Each of Catalyst and the Sellers has agreed to customary representations, warranties and covenants in the F351 Agreement, including, among others, covenants relating to (1) Catalyst filing with the U.S. Securities and Exchange Commission (the ?SEC?) and causing to become effective a registration statement (the ?Registration Statement?) to register (a) the shares of Catalyst Common Stock issued pursuant to the F351 Agreement, and (b) the shares of Catalyst Common Stock reserved for issuance upon conversion of the Catalyst Convertible Preferred Stock, (2) Catalyst using reasonable best efforts to maintain the existing listing of the Catalyst Common Stock on The Nasdaq Stock Market LLC (?Nasdaq?) and Catalyst causing the (a) shares of Catalyst Common Stock issued in connection with the F351 Agreement and (b) the shares of Catalyst Common Stock reserved for issuance upon conversion of the Catalyst Convertible Preferred Stock, to be approved for listing on Nasdaq, and (3) the Sellers assuming and paying, discharging, performing or otherwise satisfying the liabilities and obligations of any kind and nature relating to the Purchased Contracts (as defined in the F351 Agreement).
Frankestin
1 year ago
Will Acquire Controlling Interest in Continent, a China-Based Commercial Pharma Company, from the GNI Group in Subsequent Transaction
Announces $7.5 Million Special Dividend and Contingent Value Right (CVR)
On December 26, 2022, Catalyst Biosciences, Inc., a Delaware corporation (?Catalyst?), acquired the F351 Assets (as defined below) from GNI Group Ltd., a company incorporated under the laws of Japan with limited liability (?GNI Japan?), and GNI Hong Kong Limited, a company incorporated under the laws of Hong Kong with limited liability (?GNI Hong Kong? and, together with GNI Japan, the ?Sellers?), pursuant to that certain Asset Purchase Agreement, dated December 26 2022 (the ?F351 Agreement?), by and among Catalyst and the Sellers. Pursuant to the F351 Agreement, Catalyst acquired all of the assets and intellectual property rights primarily related to the Sellers? proprietary Hydronidone compound (collectively, the ?F351 Assets?), other than such assets and intellectual property rights located in the People?s Republic of China. The F351 Assets include 15 issued or pending patents and patent applications outside of the People?s Republic of China, with the last acquired issued patent expected to expire in August 2037.
Under the terms of the F351 Agreement and upon the effective time of the transactions contemplated by the F351 Agreement (the ?F351 Effective Time?), Catalyst paid the Sellers $35,000,000 in the form of: 6,266,521 shares of Catalyst common stock, par value $0.001 per share (the ?Catalyst Common Stock?); and 12,340 shares of Catalyst Series X Convertible Preferred Stock, par value $0.001 per share (the ?Catalyst Convertible Preferred Stock? and collectively with the Catalyst Common Stock issued pursuant to the F351 Agreement, the ?Catalyst F351 Securities?).
Each of Catalyst and the Sellers has agreed to customary representations, warranties and covenants in the F351 Agreement, including, among others, covenants relating to (1) Catalyst filing with the U.S. Securities and Exchange Commission (the ?SEC?) and causing to become effective a registration statement (the ?Registration Statement?) to register (a) the shares of Catalyst Common Stock issued pursuant to the F351 Agreement, and (b) the shares of Catalyst Common Stock reserved for issuance upon conversion of the Catalyst Convertible Preferred Stock, (2) Catalyst using reasonable best efforts to maintain the existing listing of the Catalyst Common Stock on The Nasdaq Stock Market LLC (?Nasdaq?) and Catalyst causing the (a) shares of Catalyst Common Stock issued in connection with the F351 Agreement and (b) the shares of Catalyst Common Stock reserved for issuance upon conversion of the Catalyst Convertible Preferred Stock, to be approved for listing on Nasdaq, and (3) the Sellers assuming and paying, discharging, performing or otherwise satisfying the liabilities and obligations of any kind and nature relating to the Purchased Contracts (as defined in the F351 Agreement).
Frankestin
2 years ago
Dr. Usman continued, โAs we previously indicated, the Board and the Company are actively controlling the Companyโs expenses while seeking to monetize its remaining assets. And while we welcome the opportunity to further demonstrate the propriety of our actions in court, we (and all the many stockholders with whom we have spoken) would prefer for JDS1 to drop its lawsuit and proxy contest, both of which are depleting the resources of the Company. The Board remains committed to distributing its cash, net of liabilities and obligations, expeditiously to stockholders once the potential liabilities and expenses associated with the stockholder litigation and the proxy contest are known.โ
So, JDS1 stop, please please please!
they sell everything!
what is left is likely to be worth little so let's get moving!
Frankestin
2 years ago
https://www.catalystbiosciences.com/partnering-opportunities/
This remains to be sold
SOUTH SAN FRANCISCO, Calif., June 29, 2022 (GLOBE NEWSWIRE) โ Catalyst Biosciences, Inc. (NASDAQ: CBIO) (the โCompanyโ or โweโ) today announced its intention to distribute cash to the Companyโs stockholders through one or more distributions. The intention of the Companyโs Board of Directors (the โBoardโ) is to maximize the size of the total distribution after satisfying or reserving for Company obligations, and to complete the distribution as soon as practicable. The Board currently expects the total amount of cash to be distributed to stockholders to be as much as $65 million, depending upon several factors, including pending stockholder litigation.
โAfter careful deliberation by the Board and constructive engagement with several of the Companyโs largest investors, I am pleased to announce that we are planning to distribute cash to stockholders,โ said Nassim Usman, Ph.D., Chief Executive Officer of Catalyst Biosciences. โThis follows our recently completed sale of a portion of our product portfolio for up to $60 million in cash, $55 million upfront and $5 million in a 12-month hold-back, after a thorough and competitive process with the assistance of independent financial and legal advisors.โ