Catalyst Biosciences jumps on plans to return $65 million to stockholders

Gyre Therapeutics

29/06/2022 15:31

** Catalyst Biosciences  CBIO.O  shares jump 14% to $1.72 in
early trade after co announces plan to distribute up to $65
million to stockholders  urn:newsml:reuters.com:*:nFWN2YG15V
    ** Co plans to start with the initial distribution after
stockholder JDS1, LLC lawsuit ends  urn:newsml:reuters.com:*:nFWN2Y40UT
    ** CEO Nassim Usman urges JDS1 to drop lawsuit and proxy
context so co can start cash distribution
    ** 1 of 3 brokerages rate the stock "buy", 2 "hold"; their
median PT is $15.50 - Refinitiv data
    ** Including session gains, stock up 89% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))