Months after NASH failure, more woes for CymaBay's lead product on safety

CymaBay lost three quarters of its market value Monday after atypical histological findings prompted it to hold its lead program and discontinue two more trials, all developing seladelpar for liver indications.

The $4.22 (76%) decline to $1.33 for CymaBay Therapeutics Inc. (NASDAQ:CBAY) follows the company's 45% decline on June 11 due to the failure of seladelpar vs. placebo to meet the primary endpoint of reducing liver fat content at week 12 in a Phase IIb trial to treat non-alcoholic steatohepatitis. Since June 10, its market value has declined 88%, and its market cap has fallen to about $91 million (see "CymaBay Down on Phase IIb NASH Miss")...