After CymaBay Therapeutics announced that it has entered into a collaboration and license agreement with Kaken Pharmaceutical for the development and commercialization in Japan of seladelpar for the treatment of primary biliary cholangitis, or PBC, Piper Sandler analyst Yasmeen Rahimi argued that the collaboration "further de-risks" upcoming topline pivotal Phase 3 PBC data from the RESPONSE trial. The analyst, who says the deal highlights the value of this asset and contends that Japan is an important market for seladelpar given that there are currently no approved second line treatments for PBC in the country, has an Overweight rating and $12 price target on CymaBay shares.
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Published first on TheFly
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