Catabasis Pharmaceuticals (NASDAQ:CATB) stock is taking off on Wednesday despite a lack of news from the biopharmaceutical company.
The increase in CATB stock comes as it experiences heavy trading today. As of this writing, more than 161 million shares of the stock have changed hands. That’s a massive spike compared to the company’s daily average trading volume of 1.29 million shares.
With eyes on CATB stock, there’s no doubt investors are looking to learn more about the company. Let’s dive right into what investors need to know about Catabasis Pharmaceuticals.
- Catabasis Pharmaceuticals is a biopharma company that focuses on developing drugs to treat diseases.
- The company uses its SMART Linker drug discovery platform for these efforts.
- Edasalonexent is one of the company’s leading candidates and is a novel oral investigational drug designed to treat duchenne muscular dystrophy.
- The company has gone so far as to complete a Phase 3 clinical trial of the drug and was awarded fast track designation for the drug.
- It’s also working to use this drug to treat non-ambulatory duchenne muscular dystrophy as well as becker muscular dystrophy.
- Another of its candidates is CAT-5571, which it wants to use to treat cystic fibrosis and mycobacterium tuberculosis.
- It entered into an agreement with the Bill and Melinda Gates Research Institue for its mycobacterium tuberculosis research.
- Catabasis Pharmaceuticals was founded in 2008 and is led by co-founder, president, and CEO Jill Milne.
- Its current market capitalization is sitting at $44.19 million.
CATB stock was up 43.9% as of noon Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.