Catalyst Biosciences Receives $1.5 Million In Two Milestone Payments for Neuronal Nicotinic Receptor (NNR) Asset
Catalyst Biosciences, Inc. (CBIO)
Last catalyst biosciences, inc. earnings: 11/7 08:00 am
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Source: GlobeNewswire
The TC-6499 asset sale may provide up to $35.5 million in remaining development, regulatory and commercial milestone payments plus net sales royalties and sub-license fees SOUTH SAN FRANCISCO, Calif., March 26, 2018 (GLOBE NEWSWIRE) -- Catalyst Biosciences, Inc. (NASDAQ:CBIO), a clinical-stage biopharmaceutical company focused on developing novel medicines to address hematology indications, today announced that it has received $1.5 million in milestone payments following the completion of two triggering events for its neuronal nicotinic receptor (NNR) asset TC-6499, sold in Oct. 2016. The first milestone payment of $500,000 was received following dosing of the first patient in a clinical trial for TC-6499, and a second milestone payment of $1 million was received for the dosing of the first patient in a Phase 2 clinical trial with TC-6499. “We are very pleased with the continued clinical development of the TC-6499 NNR program,” said Nassim Usman, Ph.D., president and chief executi
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