CymaBay raises $35.2 million

CymaBay Therapeutics Inc. (Hayward, Calif.) has raised $35.2 million since September, which the company said should provide enough runway to get to a Phase IIb readout in gout for lead compound arhalofenate ( MBX-102). The company raised $30.2 million through the sale of 6 million shares at $5 in private placements that closed on Sept. 30 and Oct. 31. Investors also received warrants. National Securities Corp. was placement agent for both offerings. Also in September, CymaBay drew down $5 million of a $10 million loan from Oxford Finance and Silicon Valley. ...