CymaBay Therapeutics (NASDAQ:CBAY) shares are in the spotlight today after the biopharmaceutical company posted positive topline results from a Phase 3 trial evaluating the safety and efficacy of seladelpar. The treatment is for primary biliary cholangitis (PBC) in adult patients.
PBC is a rare liver disease that predominantly affects women. It impacts nearly 130,000 people in the U.S. and is characterized by the accumulation of toxic bile acids in the liver. This can lead to inflammation and destruction of the bile ducts in the liver, increasing the risk of liver-associated mortality.
The trial achieved the primary and all key secondary endpoints. Importantly, these results support further discussions with healthcare regulators in major markets to advance seladelpar.
Overall, the Street has a consensus price target of $18.89 for CymaBay, alongside a Strong Buy consensus rating. This implies a mouth-watering 35% potential upside in the stock.
With today’s price gains, CymaBay shares have now surged nearly 321.5% over the past year.
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