Catabasis Continues Quick Enrollment As Potential Catalyst Looms For Second Half 2020

Summary

  • Catabasis enrollment is moving fast, having completed enrollment in certain countries, and is on track to report results from the phase 3 PolarisDMD study by second half of 2020.
  • Pending that the phase 3 PolarisDMD study meets on the primary endpoint, the biotech would be able to file an NDA of edasalonexent by 2021.
  • Should Catabasis receive FDA approval for edadalonexent, it will be able to treat the entire DMD market and not just a subset of it.
  • The company has $51.7 million in cash as of March 31, 2019, and it believes it has enough funds to get through Q4 of 2020 where it will be able to release results from its phase 3 PolarisDMD study.
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Catabasis Pharmaceuticals (CATB) continues to make solid progress for its phase 3 PolarisDMD as it continues to complete enrollment across the globe. Data from this late-stage study is anticipated to be released by the second half of 2020. If all goes well, then the biotech will be able to file an NDA for FDA approval by early 2021. A prior phase 2 study using edasalonexent to treat patients with duchenne muscular dystrophy (DMD) showed that patients were able to see an increase in the North Star Ambulatory Assessment (NSAA) score compared to placebo. This is notable because the phase 3 study has been established with the very same primary endpoint efficacy outcome measure. This catalyst provides a major inflection point for this biotech and its investors in the coming year.

Screening Of Patients Nears Completion And Readout Remains On Track

The phase 3 PolarisDMD study continues to screen in multiple countries including United States, Canada, United Kingdom, Australia, and several others. While screening is moving along in those countries, there are several countries that are no longer accepting any new patients. These countries are: Ireland, United Kingdom, Germany, Sweden, Ireland, and Israel. The quick enrollment is quite impressive in my opinion, especially when you consider that DMD is a rare disease. The reason why I like Catabasis is because edasalonexent treats all boys that are affected with DMD, regardless of mutation type. This allows the biotech to go after the entire population of DMD patients and not just a subset of it. Data from an open-label phase 2 study was quite successful. That's because treatment with edasalonexent compared to an off-treatment control time period showed that patients treated with drug had preserved muscle function and slowed DMD progression. DMD progression was slowed in all four muscle function tests which were:

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This article was written by

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Terry Chrisomalis is a private investor in the Biotech sector with years of experience utilizing his Applied Science background to generate long term value from Healthcare.

He is the author of the investing group Biotech Analysis Central which contains a library of 600+ Biotech investing articles, a model portfolio of 10+ small and mid-cap stocks with deep analysis for each, live chat, and a range of analysis and news reports to help Healthcare investors make informed decisions.

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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