Shares of Catabasis Pharmaceuticals Inc $CATB slumped after the company announced underwritten offering of 2.5mn shares of its common stock at a price of $4 a share, generating gross proceeds of $10mn. It will utilize part of the funds for ongoing and planned clinical studies of edasalonexent�(CAT-1004) while remaining proceeds will be used as working capital and for general corporate purposes. The closing date is September 28.