Although not an absolute, presenting clinical results at an industry conference can often be just the ticket for getting a biotech stock moving. That's what seems to be the catalyst on Thursday for Catabasis Pharmaceuticals (NASDAQ:CATB), as the company said it will be discussing the latest data from its MoveDMD phase 2 trial.
The data will be presented in a poster at the 22nd International Congress of the World Muscle Society taking place October 3 – 7, at the Palais du Grand Large in Saint Malo, France.
The abstract will include the most current results from the trial following boys with Duchenne Muscular Dystrophy (DMD) receiving 24 and 36 weeks of treatment with edasalonexent (CAT-1004). Edasalonexent is Catabasis' lead compound, an experimental small molecule inhibitor of NF-kB, a culprit protein in the deadly disease known to underscore inflammation and fibrosis and cause muscle degradation, while suppressing muscle regeneration.
Characterized by progressive muscle degeneration, DMD is is one of nine types of muscular dystrophy. The genetic disorder still does not have a great prognosis, with no cures and lifespans that previously saw most boys succumb to the disorder as a teenager, although survival into the 30s is becoming more common - and even some DMD patients into their 40s and 50s - thanks to a bevy of medical advances to treat the symptoms.
While some drugmakers are focused on specific DMD mutations, Catabasis is developing its drug under an Orphan Drug, Fast Track and Rare Pediatric Disease designations from the FDA to potentially treat all boys suffering from DMD, regardless of mutation type.
The MoveDMD trial is a three-part study investigating the safety and efficacy of edasalonexent in boys aged four to seven with any type of DMD. The third part, an open-label extension with edasalonexent, is currently ongoing.
Shares of CATB have been struggling since falling off a precipice at the start of February when top-line results from Part B of the trial failed to meet its primary endpoint. Market participants seem more optimistic that some encouraging data will be coming in October, driving shares ahead 16.1% to $1.68 as the trading day winds to a close.
