Long Position on CBAY @ $19.00 on 12/4/2023 (Fundamentals)

CymaBay Therapeutics, Inc. (CBAY), a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases.

Its lead product candidate is seladelpar (MBX-8025), a selective agonist of peroxisome proliferator activated receptor delta for the treatments of autoimmune liver disease, primary biliary cholangitis (PBC).

The company also develops MBX-2982 for the disease/condition of hypoglycemia in type 1 diabetics.

It has a license agreement with ABW Cyclops SPV LP to support development of seladelpar for the treatment of PBC; and holds a worldwide license from Janssen Pharmaceuticals, Inc. to research, develop, and commercialize compounds with activity against an undisclosed metabolic disease target.

The company was formerly known as Metabolex, Inc. CymaBay Therapeutics, Inc. was incorporated in 1988 and is headquartered in Newark, California.

After announcing positive results in their phase three testing in its treatment for primary cholangitis, a liver disease that causes inflammation and scarring.

Entry Point: $19.00

Trading Range: $3.83 - $19.79

Stop Loss: $18.05

Target Price: $20.90

Position closed on 12/14/2023 at price of $21.57 with a 13.53% gain in 10 days.

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