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CBIO- Interesting Stock- Why Up?

NASDAQ:CBIO   CATALYST BIOSCIENCES INC
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Why did CBIO stock shares practically triple? On longer charts,stock worth over $3,000 share once.

Catalyst Biosciences Inc . ( 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.

Terms of drug, it is a highly potent next-generation coagulation Factor IX variant, demonstrated potential to normalize human Factor IX levels with a daily subcutaneous injection in preclinical studies. In simpler terms, CB2679d/ISU304 works to inhibit blood loss and can be used as a preventative treatment to individuals with hemophilia. * F.Y.I for possible investment in.
This stock had a reverse split that brought its float under 1 million shares (day trader target). When that happened, they had around $12cash/share on hand so it had it's small spike. With news of an actual use for their drug, this was traded big time.
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