CymaBay Therapeutics Inc (NASDAQ: CBAY) is having an overwhelmingly strong start to the trading session this morning after announcing that a late-breaking poster presentation with new data surrounding a Phase 3 clinical trial will be featured during the International Liver Congress. Today, we’ll talk about:
- The presentation announcement;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for with regard to CBAY ahead.
CBAY To Present Clinical Data
As mentioned above, CymaBay Therapeutics is having an incredibly strong start to the trading session this morning after announcing that a late-breaking poster presentation that discusses new data from a second interim analysis of an ongoing Phase 2 clinical study will be presented. In a press release early this morning, CBAY announced that the data comes from the Phase 2 study of seladelpar and will be presented at The International Liver Congress. The International Liver Congress is an event hosted by the European Association for the Study of Liver Diseases (EASL). If you would like to read more on the data that will be presented, click here. In a statement, Dr. Pol Boudes, M.D., CMO at CBAY, had the following to offer:
We are thrilled to have the opportunity to share new data from our development of seladelpar for patients with PBC in a late-breaking presentation at The International Liver CongressTM. This is the third consecutive year in which seladelpar will be featured in the late-breaker category at one of the key international liver meetings. We have now firmly established doses of seladelpar with compelling efficacy and tolerability which we expect to further confirm in a Phase 3 study planned to start in the second half of the year… These data continue to support the potential for seladelpar to significantly improve treatment options for patients with PBC. We are thankful for the commitment and dedication of the patients, PBC support groups, investigators and study coordinators who are all essential to our efforts to advance seladelpar for patients with PBC.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news released by CymaBay Therapeutics proved to be overwhelmingly positive. After all, there are few bits of news that are viewed better in biotech than solid clinical data. So, it’s no surprise that excited investors are sending the stock toward the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:19), CBAY is trading at $14.70 per share after a gain of $2.63 per share or 21.78% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CBAY. In particular, we’re interested in following the story surrounding the company’s development of seladelpar and the rest of its pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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