In the last trading session, the stock price of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) declined over 70% to close at $1.18. The company reported negative Phase II report for its Duchenne muscular dystrophy drug contender ‘CAT-1004.’
Although the firm had recorded preliminary data from an initial trial two weeks earlier, the recent data indicates the drug proved in beating placebo in 31 patients study. A placebo is an element that has no beneficial effect, and is utilized as a control in testing new medications. The CAT-1004 medication works by minimizing the levels of NF-kb, that is noted to be active in the preliminary phases of Duchenne muscular dystrophy.
Catabasis considered that NF-kb compound is a notable contributor to the advanced muscle deterioration perceived in the DMD disease, and was advancing the medication to cure DMD irrespective of the primary genetic mutations.
With the disappointing report from company, Sarepta Therapeutics Inc (NASDAQ:SRPT) Exondys 51 is the only accepted Duchenne muscular dystrophy medication to cure a specific genetically-defined group of subjects.
DMD continues to be a problem area for therapy advancement. In 2016, Exondys 51 drug nod and follow-on advancements led in wide swings in its shares price. Based on the promising data achieved for the medicine during its Phase I study, Catabasis had finalized a research association with Sarepta in 2016. The association was targeted at exploring a combination of Exondys 51 and CAT-1004 to retard the damage done to the muscles in DMD subjects.
Catabasis suffered a setback in last June, when it was forced to close a mid-stage study of its cholesterol medication CAT-2054. The company has other two medications in the pipeline, and both of them are in the pre-clinical phase. It comprises CAT-4001 and for Friedreich’s ataxia amyotrophic lateral sclerosis treatment and CAT-5571 for curing cystic fibrosis.