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Catabasis Pharmaceuticals Inc (CATB): Deerfield Management Adds to Its Position

James E. Flynn‘s Deerfield Management recently filed a Form 13G with the SEC in which it reported holding 783,375 common shares of Catabasis Pharmaceuticals Inc (NASDAQ:CATB), which amass 4.21% of the company’s outstanding common stock. This represents about a 21% increase to the fund’s stake, as it previously held 643,580 shares as of June 30, according to its 13F filing for the June 30 reporting period.

Catabasis Pharmaceuticals, as the name denotes it, is a clinical-stage biopharmaceutical company that works on the production of various therapeutics for treating inflammatory diseases and dyslipidemias. Over the past 12 months, the company’s stock has lost 22.9%. For the second quarter of 2016, Catabasis Pharmaceuticals disclosed a net loss of $9.45 million and a loss per share of $0.61, which compares to a net loss of $8.04 million and a loss per share of $8.07 for the corresponding quarter of 2015. Recently, Wedbush reiterated its ‘Outperform’ rating on Catabasis Pharmaceuticals’ stock, with a price target of $17.


James Flynn Deerfield Management

The number of smart money managers within Insider Monkey’s database long Catabasis Pharmaceuticals (NASDAQ:CATB) stood at three at the end of June, same as at the end of the previous quarter. Among the bullish investors, aside from Deerfield Management, were Stephen DuBois’ Camber Capital Management, which held a position valued at $3.70 million, and D E Shaw, founded by David E. Shaw, which owned $52,000 worth of Catabasis Pharmaceuticals’ shares.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Deerfield Mgmt 0 783,375 0 783,375 783,375 4.21%
Deerfield Management Company 0 783,375 0 783,375 783,375 4.21%
Deerfield Special Situations Fund 0 783,375 0 783,375 783,375 4.21%
James E. Flynn 0 783,375 0 783,375 783,375 4.21%
James E. Flynn
James E. Flynn
Deerfield Management

Page 1 of 12 – SEC Filing

(Rule 13d-102)
(Amendment No. ) *
Catabasis Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

(CUSIP Number)
September 28, 2016

(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
          o Rule 13d-1(b)
          x Rule 13d-1(c)
          o Rule 13d-1(d)
(Page 1 of 9 Pages)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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