Catabasis Pharmaceuticals Announces Pricing of $20 Million Underwritten Public Offering

Pharmaceuticals, Inc.
(“Catabasis,” the “Company,” “we,” “our,” or
“us”) (NASDAQ: CATB), a clinical-stage biopharmaceutical company, today
announced the pricing of an underwritten public offering of an aggregate
of 4,000,000 units at a public offering price of $5.00 per unit. Each
unit is comprised of one share of common stock and 0.5 of a warrant to
purchase one share of common stock for a total of 4,000,000 shares of
common stock and warrants to purchase 2,000,000 shares of common stock.

Oppenheimer & Co. Inc. is acting as sole underwriter for the offering.

Each warrant will have an exercise price of $6.25 per share and is
exercisable immediately. The warrants will expire five years from the
date of issuance. The shares of common stock and the accompanying
warrants included in the units can only be purchased together in this
offering but will be issued separately and will be immediately separable
upon issuance. The offering is expected to close on or about February 8,
2019, subject to customary closing conditions.

The gross proceeds of the offering are expected to be approximately
$20.0 million, prior to deducting the underwriting discount and other
estimated offering expenses.

Catabasis intends to use the net proceeds from the offering for clinical
trial and other research and development activities; continued growth of
its manufacturing capabilities; initial investments in commercial and
medical affairs infrastructure to support its transition to a
commercial-stage company; and for working capital and other general
corporate purposes.

The securities described above are being offered pursuant to a
prospectus supplement and an accompanying base prospectus forming part
of a shelf registration statement on Form S-3 (File No. 333-212382),
which was previously filed with and declared effective by the Securities
and Exchange Commission (“SEC”) on July 19, 2016. A final prospectus
supplement relating to the offering will be filed with the SEC and will
be available on the SEC’s website located at
When available, copies of the final prospectus supplement and the
accompanying base prospectus may be obtained for free by contacting
Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85
Broad St., 26th Floor, New York, NY 10004, by telephone at (212)
667-8055 or by email at

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such state or other jurisdiction.

About Catabasis
At Catabasis Pharmaceuticals, our mission is
to bring hope and life-changing therapies to patients and their
families. Our lead program is edasalonexent, an NF-kB inhibitor in
development for the treatment of Duchenne muscular dystrophy. Our global
Phase 3 PolarisDMD trial is currently enrolling boys affected by
Duchenne. For more information on edasalonexent and our Phase 3
PolarisDMD trial, please visit

Forward Looking Statements
Any statements in this press
release about future expectations, plans and prospects for the Company,
including statements about the anticipated completion, timing and size
of the public offering and the anticipated use of net proceeds
therefrom, among other things, statements containing the words
“believes,” “anticipates,” “plans,” “expects,” “may” and similar
expressions, constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: risks
and uncertainties associated with market conditions, the satisfaction of
customary closing conditions relating to the public offering and the
Company’s intended use of proceeds, as well as uncertainties inherent in
the initiation and completion of preclinical studies and clinical trials
and clinical development of the Company’s product candidates; whether
interim results from a clinical trial will be predictive of the final
results of the trial or the results of future trials; expectations for
regulatory approvals to conduct trials or to market products;
availability of funding sufficient for the Company’s foreseeable and
unforeseeable operating expenses and capital expenditure requirements;
other matters that could affect the availability or commercial potential
of the Company’s product candidates; and general economic and market
conditions and other factors discussed in the “Risk Factors” section of
the prospectus supplement and the accompanying base prospectus to the
Company’s Registration Statement on Form S-3 relating to this offering,
which will be filed with the SEC, and the Company’s Quarterly Report on
Form 10-Q for the quarter ended September 30, 2018, which is on file
with the SEC, and in other filings that the Company may make with the
SEC in the future. In addition, the forward-looking statements included
in this press release represent the Company’s views as of the date of
this press release. The Company anticipates that subsequent events and
developments will cause the Company’s views to change. However, while
the Company may elect to update these forward-looking statements at some
point in the future, the Company specifically disclaims any obligation
to do so. These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the date
of this release.


Investor and Media Contact
Catabasis Pharmaceuticals, Inc.
T: (617) 349-1971

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