Bulletin
Investor Alert
×

Market Pulse Archives

June 11, 2019, 8:58 a.m. EDT

CymaBay Therapeutics stock down 43% after NASH trial data disappoint investors

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    CymaBay Therapeutics Inc. (CBAY)
  • X
    Gilead Sciences Inc. (GILD)
  • X
    Intercept Pharmaceuticals Inc. (ICPT)

or Cancel Already have a watchlist? Log In

By Sarah Toy

Shares of CymaBay Therapeutics Inc. /zigman2/quotes/201917619/composite CBAY -2.29% plummeted 43% in premarket trade Tuesday after the biotech said data from an ongoing Phase 2 trial showed patients with nonalcoholic steatohepatitis (NASH) who were treated with investigational drug seladelpar did not show significant reductions in liver fat when compared with those on a placebo. However, treatment with seladelpar did result in a reduction in biomarkers associated with liver injury, the company said. "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 Pol Boudes, CymaBay's chief medical officer. "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." In NASH, fat builds up in the liver, triggering inflammation and cell injury that can lead to serious complications like cirrhosis, or liver scarring. There have been several trial updates in the NASH space so far this year from companies like Gilead Sciences Inc. /zigman2/quotes/210293917/composite GILD -0.03% and Intercept Pharmaceuticals Inc. /zigman2/quotes/202434567/composite ICPT +1.54% , but they have not been promising, according to Jefferies health desk trader Jared Holz. "Investors have not been impressed with current data," he wrote in a note to clients Tuesday morning. Shares of CymaBay Therapeutics Inc. have gained 41% in the year to date through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.65% has gained 15%.

/zigman2/quotes/201917619/composite
US : U.S.: Nasdaq
$ 6.39
-0.15 -2.29%
Volume: 702,717
July 17, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$449.27 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/210293917/composite
US : U.S.: Nasdaq
$ 66.92
-0.02 -0.03%
Volume: 4.86M
July 17, 2019 4:00p
P/E Ratio
14.75
Dividend Yield
3.77%
Market Cap
$85.12 billion
Rev. per Employee
$2.02M
loading...
/zigman2/quotes/202434567/composite
US : U.S.: Nasdaq
$ 69.75
+1.06 +1.54%
Volume: 604,525
July 17, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.21 billion
Rev. per Employee
$372,265
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,984.42
-19.62 -0.65%
Volume: 1.74B
July 17, 2019 5:04p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.