Introduction
CymaBay (CBAY) has been in the news lately for reasons other than the Phase 3 PBC clinical trial. Specifically, the 12-week interim topline data on the effect of seladelpar on relative liver fat reduction was not clinically successful. Unfortunately, these 5 key words "ongoing 52 week Phase 2b" dose-ranging, paired liver biopsy study of seladelpar for NASH did not register. For this reason, CBAY stock depreciated ~40%.
As noted by the company, biopsy data is expected at 52 weeks. Besides, the ultimate clinical goal of all biopharmas involved in NASH trials is to