CymaBay Therapeutics rises as liver disease drug succeeds in late-stage study

CymaBay Therapeutics

07/09/2023 16:58

** Shares of CymaBay Therapeutics  CBAY.O  rise 8% to $14.95
    ** Co says its experimental drug for the treatment of a
chronic liver disease met the main goal in a late-stage study
    ** CBAY is testing the drug, seladelpar, among adult
patients with primary biliary cholangitis (PBC) who have
received prior therapy
     ** PBC is a chronic disease in which the small bile ducts
in the liver become injured and inflamed and causes liver damage
    ** CBAY says 61.7% of patients treated with seladelpar
achieved regulated levels of serum alkaline phosphatase and
bilirubin, which remain elevated in PBC patients, compared with
a placebo
    ** "We are highly enthusiastic about the prospect of
approval and believe that seladelpar will quickly emerge as the
best-in-class second-line agent in PBC," William Blair analyst
Andy Hsieh wrote in a note
    ** Including session gains, stock more than doubled YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))