Why Is Catalyst Biosciences (CBIO) Stock Up 55% Today?

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Catalyst Biosciences (NASDAQ:CBIO) stock is rocketing higher on Tuesday after the company announced an asset purchase agreement with GC Biopharma.

That agreement has Catalyst Biosciences selling three of its programs related to orphan hematology disorders to the company. Among these is Marzeptacog alfa, which is ready for a Phase 3 clinical trial.

GC Biopharma plans to continue the development of Marzeptacog alfa following the deal. Today’s purchase lines up with the company’s goal of seeking better therapeutic options for hemophilia. Also, no financial details of the deal were disclosed.

Nassim Usman, Ph.D., President and CEO of Catalyst Biosciences, said the following about the deal.

“We are pleased that GC Biopharma has purchased our hemophilia assets and will continue their clinical development to potentially bring new transformative treatments for several bleeding disorders.”

How This Affects CBIO Stock

The asset purchase agreement is being seen positively by investors in CBIO stock today. As a result, the company’s stock is seeing heavy trading on Tuesday. That has some 8.9 million shares of the stock changing hands as of this writing. This is well above the company’s daily average trading volume of about 911,000 shares.

CBIO stock is up 54.8% in pre-market trading on Tuesday!

Investors looking for more of the latest stock market news will want to keep reading!

We’ve got all of the most recent stock market news traders need to know about on Tuesday! That includes the biggest pre-market stock movers this morning, as well as what’s going on with AMC Entertainment (NYSE:AMC) stock, and stocks recommended by ChatGPT. You can catch up with all of that news at the following links!

More Tuesday Stock Market News

• Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
• AMC Stock Alert: Why Is AMC Up 22% Today?
• I Asked ChatGPT for 10 EV Stocks to Buy. Here’s What It Recommended.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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