CymaBay Therapeutics stock jumps as rare liver disease treatment shows positive results

Shares of CymaBay Therapeutics Inc. (CBAY) gained 23% premarket on Thursday after the company released positive results from a late-stage study of seladelpar, its investigational treatment for the rare chronic liver disease primary biliary cholangitis. About 62% of patients treated with seladelpar met the study's primary endpoint related to serum alkaline phosphatase and bilirubin, compared with 20% of those on placebo, CymaBay said in a release. The study also met key secondary endpoints, including a significant reduction of pruritis, or itching that is a common early symptom of the disease, CymaBay said. The trial data support filing for approval of the treatment with U.S. and European regulators, the company said. CymaBay shares have gained 120% in the year to date, while the S&P 500 has gained 16.3%.

-Eleanor Laise

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09-07-23 0804ET

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