CymaBay Therapeutics Plummets 40% Following Liver Disease Data

CymaBay Therapeutics (NASDAQCBAY) announced results from an ongoing 52-week Phase 2b dose-ranging, paired liver biopsy study of "seladelpar" for the treatment of nonalcoholic steatohepatitis. Seladelpar is used in development for the treatment of liver diseases.

The results showed reductions in liver fat were minimal and not significant compared to placebo.

“While the reductions in liver fat were minimal, we remain encouraged by the significant improvements in biochemical markers of liver injury that we observed at week 12,” said Dr. Pol Boudes, chief medical officer of CymaBay Therapeutics. “The 52-week liver biopsy data will allow us to understand whether the improvement in liver injury markers will translate into histological improvement. The observed improvement in markers of liver injury are consistent with the observed effects of seladelpar in PBC and further support the potential for seladelpar to improve liver health.”

CymaBay Therapeutics shares traded down 42 percent to $5.95 in Tuesday's pre-market session.

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