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Shares of CymaBay Therapeutics gain after study signals Seladelpar treatment shows 'efficacy'

The company now expects drug to advance to Phase 3 study

Assorted pills on table
The shares gained 11% on the study news

Shares of CymaBay Therapeutics Inc. (NASDAQ:CBAY) rose after the company said a study of its Seladelpar treatment for an autoimmune disease of the liver showed “compelling efficacy and tolerability.”

The stock advanced 11% to US$13.44.

The results from the Phase 2 study “support the potential for improved efficacy and better tolerability over existing second-line therapy,” the company said in a statement. CymaBay now expects the treatment to advance to Phase 3 in the second half of the year.

 

Quick facts: CymaBay Therapeutics

Price: 3.505 USD

NASDAQ:CBAY
Market: NASDAQ
Market Cap: $241.43 m
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