SHAREHOLDER ALERT: Weiss Law Investigates Catalyst Biosciences, Inc.

NEW YORK, Jan. 4, 2023 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Catalyst Biosciences, Inc. ("Catalyst" or the "Company") (NASDAQ: CBIO), in connection with the proposed purchase of GNI Group Ltd.'s ("GNI") proprietary new chemical entity F351 ("F351"). This purchase will transfer the global rights to F351 (excluding Mainland China) to Catalyst in consideration of 6,266,521 shares of common stock and 12,340 shares of a new series of preferred stock ("Series X") with economic rights equivalent to the Company's common stock to be paid for GNI's 65.18% interest of Beijing Continent ("Continent"), a China based commercial-stage pharmaceutical company marketing pirfenidone and having the rights to F351 in China. Each share of Series X preferred stock is convertible into 10,000 shares of common stock, subject to stockholder approval under Nasdaq rules and subject to a beneficial ownership conversion blocker. Catalyst will consolidate results of operations with Continent upon consummation of the F351 purchase.

If you own Catalyst shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/cbio 
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7^th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
[email protected]

Weiss Law is investigating whether (i) Catalyst's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Catalyst's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. 

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

SOURCE Weiss Law

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