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                             July 18, 2022

       Julian Singer
       Managing Member
       JDS1, LLC
       2200 Fletcher Avenue
       Suite 501
       Fort Lee, NJ 07024

                                                        Re: CATALYST
BIOSCIENCES, INC.
                                                            PRRN14A filed July
14, 2022
                                                            Filed by JDS1, LLC
et al.
                                                            SEC File No.
0-51173

       Dear Mr. Singer:

               We have reviewed your revised filing and have the following
comment. Please respond to
       the comment by providing the requested information or advise us as soon
as possible when you
       will respond. If you do not believe our comment applies to your facts
and circumstances, please
       tell us why in your response.

              After reviewing your response to this comment, we may have
additional comments. All
       defined terms used here have the same meaning as in your filing.

       PRRN14A filed July 14, 2022

       We Believe That, to Unock [sic] Stockholder Value, the Company Should
Distribute Most of Its
       Available Cash to Stockholders, page 23

   1.                                                   We note your assertions
here and throughout the proxy statement that "stockholders are
                                                        currently suffering a
discount of approximately 36%," based on the fact that the Company
                                                        had cash and cash
equivalents of $87 million at March 31, 2022, and its stock is trading at
                                                        $1.77 rather than $2.76
per share. However, this figure does not take into account
                                                        expenses incurred since
that date, or reserves for future liabilities that may reduce the
                                                        amount of cash
available for distribution. (On page 23, you acknowledge the Company
                                                        may need to reserve for
administrative and other expenses.) The Company issued a press
                                                        release on June 29,
2022 stating it intends to distribute $65 million in cash to
                                                        shareholders. Revise
generally to explain why you believe the Company has $87 million
                                                        rather than $65 million
available for distribution and to express that assertion as an
                                                        opinion, or advise.
Make corresponding changes to the discount to trading figures as well.
 Julian Singer
JDS1, LLC
July 18, 2022
Page 2

        We remind you that the filing persons are responsible for the accuracy
and adequacy of
their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.

        Please direct any questions to Christina Chalk, Senior Special Counsel,
at (202) 551-
3263.



                                                            Sincerely,
FirstName LastNameJulian Singer
                                                            Division of
Corporation Finance
Comapany NameJDS1, LLC
                                                            Office of Mergers &
Acquisitions
July 18, 2022 Page 2
cc:       Keith Gottfried, Esq.
FirstName LastName