On June 29, 2022, Catalyst Biosciences Inc announced that it intends to distribute cash to the Company's stockholders through one or more distributions. In addition, the Company stated that intends to make an initial distribution as soon as the potential liability and expenses associated with the ongoing Delaware Court of Chancery stockholder litigation and the contested Annual Meeting of Stockholders initiated by JDS1 LLC and communicated with JDS1, LLC regarding lawsuit and proxy contest. Later, the Company stated that it call upon JDS1 LLC to drop its lawsuit and proxy contest so that the Company can distribute the first, sizable portion of its cash to the Company's stockholders expeditiously.