CAMBRIDGE, Mass.--(BUSINESS WIRE)--Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB), a clinical-stage pharmaceutical company, today announced the pricing of an underwritten offering of 2,500,000 shares of its common stock at a price of $4.00 per share. The gross proceeds to Catabasis from this offering are expected to be $10.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Catabasis has granted the underwriter a 30-day option to purchase up to an additional 375,000 shares of common stock. Catabasis intends to use the net proceeds from the sale of the offered securities to fund our ongoing and planned clinical trials of edasalonexent (CAT-1004), to fund market development activities for edasalonexent, to fund research and development to advance its pipeline of preclinical product candidates and expand its product platform, and for working capital and general corporate purposes.

All of the shares in the offering are to be sold by Catabasis. The offering is expected to close on September 28, 2016, subject to customary closing conditions. Additional details regarding the offering will be included in a Form 8-K filed by Catabasis with the Securities and Exchange Commission.

Cowen and Company, LLC is acting as sole book-running manager for the offering.

About Catabasis

At Catabasis Pharmaceuticals, our mission is to bring hope and life-changing therapies to patients and their families. Our SMART (Safely Metabolized And Rationally Targeted) linker drug discovery platform enables us to engineer molecules that simultaneously modulate multiple targets in a disease. We are applying our SMART linker platform to build an internal pipeline of product candidates for rare diseases and plan to pursue partnerships to develop additional product candidates.