Revenue Update on CymaBay Therapeutics Inc(NASDAQ:CBAY)

CymaBay Therapeutics Inc(NASDAQ:CBAY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Earnings per share were $-0.30.

In a different note, On Jun 1, 2016, H.C. Wainwright said it Downgrades its rating on CymaBay Therapeutics Inc. In the research note, the firm Lowers the price-target to $6.00 per share. The shares have been rated ‘Neutral’ by the firm.

CymaBay Therapeutics Inc (CBAY) made into the market gainers list on Wednesdays trading session with the shares advancing 0.87% or 0.02 points. Due to strong positive momentum, the stock ended at $2.32, which is also near the day’s high of $2.45. The stock began the session at $2.45 and the volume stood at 3,04,621 shares. The 52-week high of the shares is $3.31 and the 52 week low is $0.8201. The company has a current market capitalization of $54 M and it has 2,34,47,003 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Apr 19, 2016, Patrick J. Omara (VP, Business Development) purchased 5,000 shares at $1.64 per share price.Also, On Apr 19, 2016, Charles Mcwherter (Sr. Vice President) purchased 3,000 shares at $1.68 per share price.On Apr 6, 2016, Sujal Shah (CFO) purchased 55,000 shares at $1.39 per share price, according to the Form-4 filing with the securities and exchange commission.

CymaBay Therapeutics Inc. is a biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases including serious rare and orphan disorders. Arhalofenate the Company’s lead product candidate is used to treat gout. The Company has completed five Phase II clinical trials of Arhalofenate in patients with gout. The Company’s second product candidate MBX-8025 is used to treat disorder linked to deficits in lipid storage handling and utilization many of which result in metabolic disorders. The Company has completed five Phase I and one Phase II clinical trials of MBX-8025. The Company’s MBX-2982 is a treatment for type 2 diabetes that targets G protein-coupled receptor 119 (GPR119) a receptor that interacts with bioactive lipids known to stimulate glucose-dependent insulin secretion. MBX-2982 has completed four Phase I studies and one Phase II study.

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