Categories Earnings, Health Care

Catabasis Pharmaceuticals (NASDAQ: CATB): Q4 2019 Earnings Snapshot

— Catabasis Pharmaceuticals, Inc. (NASDAQ: CATB) reported a net loss of $6.6 million or $0.55 per share for the fourth quarter of 2019, compared to a loss of $6.1 million or $0.85 per share last year. Analysts had forecast a loss of $0.61 per share.

— Being a development-stage biopharmaceutical company, Catabasis did nor record revenues in the December-quarter

— Research & Development expenses increased 16% year-over-year to $4.3 million during the three-month period

— At $2.5 million, selling, general and administrative expenses were up 4% from the year-ago period

— As of December 2019, cash, cash equivalents and short-term investments were $36.2 million, compared to $40.6 million as of September 2019

— Expects to fund operations through a potential NDA filing and into the third quarter of 2021, using available cash

— Expects to publish top results from the phase-3 PolarisDMD trial of edasalonexent, in Duchenne muscular dystrophy, in the fourth quarter of 2020

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