Camber Capital Quick To Move On This Newly-Listed Biotech Stock

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The designation will allow Catabasis Pharmaceuticals Inc (NASDAQ:CATB) to submit a New Drug Application (NDA) on a rolling basis and greatly accelerate the FDA’s review process by allowing the company to frequently communicate with the FDA regarding all aspects of its clinical development. Provided that certain criteria are met, drugs with Fast Track Designation could get early approval as well. Catabasis Pharmaceuticals Inc (NASDAQ:CATB) plans to report on top-line Phase 2 data for CAT-1004 in late 2016, which is dependent on patient enrollment for the trial.

The company’s most advanced preclinical product candidate is CAT-4001, which uses SMART technology to activate the Nrf2 pathway, a protein that works inside the cells, controlling the body’s response to cellular stress and oxidative damage. The molecule can potentially treat rare neurodegenerative diseases such as Friedreich’s ataxia and amyotrophic lateral sclerosis, or ALS, commonly referred to also as Lou Gehrig’s Disease.

Since its IPO in late June, Catabasis Pharmaceuticals Inc (NASDAQ:CATB)’s stock has appreciated by 7%. The biotechnology industry has been a strong performer lately, posting gains of more than 17% year-to-date and over 50% over the past year. Healthcare-focused hedge funds that have been cashing in on the rise of the sector include names like Samuel Isaly‘s Orbimed Advisors, and Adage Capital Management, which is managed by Phill Gross and Robert Atchinson.

Disclosure: None

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