NEWARK, Calif., July 24, 2017 (GLOBE NEWSWIRE) -- CymaBay Therapeutics, Inc. (NASDAQ:CBAY), a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet need, today announced the closing of its previously announced underwritten public offering of its common stock. CymaBay sold 14,950,000 shares of its common stock in the offering, including 1,950,000 shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $6.50 per share before underwriting discounts and commissions. All of the shares of common stock were offered by CymaBay. CymaBay anticipates using the net proceeds from the offering to fund ongoing development of seladelpar and for working capital and general corporate purposes.
Leerink Partners LLC, Piper Jaffray & Co. and Cantor Fitzgerald & Co. acted as the joint book-running managers for the offering. Oppenheimer & Co. Inc. and SunTrust Robinson Humphrey, Inc. acted as co-lead managers for the offering.
The securities described above were offered by CymaBay pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website, located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from: Leerink Partners LLC, Attn: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, by telephone at (800) 808-7525, ext. 6132, or by email at email@example.com; Piper Jaffray & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by calling (800) 747-3924, or by email at firstname.lastname@example.org; or Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CymaBay Therapeutics, Inc. (CBAY) is a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet medical need. Seladelpar is a potent, selective, orally active PPARδ agonist currently in development for the treatment of patients with the autoimmune liver disease, primary biliary cholangitis (PBC). A Phase 2 study of seladelpar established proof of concept in PBC. CymaBay is currently conducting a second Phase 2 study of seladelpar in PBC in order to support dose selection for Phase 3.
LifeSci Advisors, LLC, an affiliate of LifeSci Capital LLC, serves CymaBay as an investor relations, corporate communications and capital markets advisor.
Source:CymaBay Therapeutics, Inc.