According to a recent filing with the Securities and Exchange Commission, Stephen DuBois‘s Camber Capital Management initiated a position in the newly-listed clinical-stage biopharmaceutical company, Catabasis Pharmaceuticals Inc (NASDAQ:CATB), reporting ownership of some 928,746 shares that are valued at $13.0 million based on the current stock price. The holding represents about 6.38% of the company’s outstanding shares.
Stephen DuBois launched Camber in 2006 with the intention to focus on the healthcare sector. The fund employs a bottom-up stock picking approach to hunt for value stocks in the micro-cap and small-cap universe. Regulatory assets under the fund’s management currently stand at $2.21 billion while the market value of its public equity portfolio stood at $1.4 billion at the end of March. The healthcare sector represented 81% of the holdings, while the rest was represented by the finance sector.
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Catabasis Pharmaceuticals Inc (NASDAQ:CATB) develops novel therapeutics based on its proprietary Safely Metabolized And Rationally Targeted, or SMART, linker technology. The concept is based on treating diseases by simultaneously modulating multiple biological targets in one or more related disease pathways. Initially the company is focusing on rare diseases such as Duchene muscular dystrophy, DMD, which affects about 1 in 3,600 boys and results in muscle degeneration and premature death. In this regard Catabasis Pharmaceuticals Inc (NASDAQ:CATB)’s treatment for DMD, CAT-1004 recently got a breakthrough as the Food and Drug Administration (FDA) bestowed Fast Track designation on the drug owing to promising pre-clinical studies.
