CBAY - CymaBay initiated at outperform at William Blair on liver disease candidate
2023-04-05 08:47:36 ET
- William Blair has initiated CymaBay Therapeutics with a buy rating on the promise of its phase 3 candidate seladelpar for the autoimmune liver disease, primary biliary cholangitis ( PBC ).
- The firm does not have a target price.
- Analyst Andy Hsieh called seladelpar "one of the most de-risked late-stage assets in the biopharmaceutical space."
- The drug, a selective peroxisome proliferator-activated receptor delta (PPAR?) agonist, can improve symptoms related to the condition, according to Hsieh. He added there was promising efficacy data on seladelpar in an earlier phase 3 trial.
- A data readout from an ongoing phase 3 study is expected later this year, and Hsieh predicts a regulatory filing in 2024 with potential approval later that year or in 2025.
- Read why Seeking Alpha contributor Zach Bristow is also bullish on CymaBay ( NASDAQ: CBAY ) because of seladelpar's potential.
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CymaBay initiated at outperform at William Blair on liver disease candidate