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CymaBay initiated with an Outperform at William Blair
The Fly

CymaBay initiated with an Outperform at William Blair

William Blair analyst Andy Hsieh initiated coverage of CymaBay Therapeutics with an Outperform rating and no price target. CymaBay is advancing seladelpar, a selective peroxisome proliferator-acti- vated receptor delta agonist, in primary biliary cholangitis, the analyst tells investors in a research note. The firm views seladelpar as one of the most de-risked late-stage assets in the biopharmaceutical space. It believes CymaBay could capture a material portion of the second-line primary biliary cholangitis market, given that approved therapies "are characterized by inadequate response and/or unfavorable tolerability profiles."

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