CymaBay prices $125.3M follow-on

Chronic liver disease company CymaBay Therapeutics Inc. (NASDAQ:CBAY) raised $125.3 million through the sale of 11.6 million shares at $10.80 in a follow-on underwritten by Leerink, Evercore, Oppenheimer, H.C. Wainwright and Roth Capital Partners. The price is a 4% discount to CymaBay’s close of $11.29 on Monday, when it proposed the offering after market hours.

This half, the company plans to begin a Phase II trial of seladelpar (MBX-8025) to treat non-alcoholic steatohepatitis (NASH). Next half, it expects to start a Phase III trial of the PPAR delta agonist to treat primary biliary cholangitis...