Catabasis Pharmaceuticals Jumps 53% on Novel Pharmacology Potential
Catabasis Pharmaceuticals (CATB) exploded 53% to close at $2.04 per share Friday. It was by far the best performing stock in March’s Stock Challenge. The 59,421,369 shares exchanged represent well over $180 million dollars worth of paper.
Catabasis Pharmaceuticals has been on fire for the past two days. Check out the company’s 5 day chart below:
On the company’s technology, they explain:
“Leveraging the growing body of knowledge about disease pathways, we’ve learned that chemically linking bioactives enables us to shepherd them directly into cells, resulting in the bioactives reaching their targets in the same cells at the same time and producing novel pharmacology.”
Catabasis Pharmaceuticals utilizes bioactives for SMART Linker Drug Platform
Catabasis Pharmaceuticals uses its SMART linker drug discovery platform to conjugate two separate bioactives with known pharmacological activity.
The company’s SMART (Safely Metabolized And Rationally Targeted) linker drug discovery platform enables it to engineer molecules that simultaneously modulate multiple targets in a disease.
To read more about Catabasis and clinical trials, click here.
Seeking Alpha article noted,
“No particular news accounts for the move. The company plans to release Q4 and full-year results on Thursday, March 16 after the close.”
Headquartered in Massachusetts, the company was founded in 2008 and had 34 employees last year. Catabasis Pharmaceuticals’ mission is to bring hope and life-changing therapies to patients and their families. Biotech stocks can be explosive and Catabasis is just another reminder of the type of moves these companies can have.
March’s Stock Challenge Update
Long-time Pinnacle member ‘hawkjd‘ selected Catabasis Pharmaceuticals for March’s Stock Challenge and jumped into 3rd with a monthly return of 34.22%. hawkjd’s combined average return was 28.00% Friday alone.
screefer is still the one to catch, but his lead is slipping. His combined average return declined to 142.38% at the close Friday. Last week it had been above 230%…
Long-time member ‘minerjoe‘ checked in on the community from a vacation in Bali this week (lucky guy!) to ask about prizes for second place. With that attitude he better get used to being the ‘next best’ as we reward Champions, not consolation winners at Pinnacle.
His stunning 60.08% return after just eight trading days is impressive. If screefer’s VentriPoint Diagnostics (VPT: TSXV) continues to decline, as it did Friday, dropping 7.32% he may have a chance at first place and the silver bullion.
After getting crushed last week and early this week, the miners showed some resilience Friday. The VanEck Vectors Junior Gold Miners (GDXJ) rallied 5% to finish the week at $34.69 per share. Meanwhile, the TSX Venture jumped 10 points to close at 799.19.