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Why Catalyst Bio Nearly Tripled

Catalyst Biosciences Inc. (NASDAQ: CBIO) saw its shares practically triple in Tuesday’s session after the company announced a critical regulatory approval. The company reported that the Korean Ministry of Food and Drug Safety (MFDS) approved the Investigational New Drug Application (IND) for CB 2679d/ISU304, which works to treat individuals with hemophilia.

Hemophilia is a serious bleeding disorder that results in spontaneous bleeding episodes, as well as substantially prolonged bleeding times upon injury.

In terms of the drug, it is a highly potent next-generation coagulation Factor IX variant, has...