CymaBay Announces Closing of Public Offering of Common Stock

Biotech Investing

CymaBay Therapeutics (Nasdaq:CBAY), a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet need, announced the closing of its previously announced underwritten public offering of its common stock. As quoted in the press release: CymaBay sold 13,340,000 shares of its common stock in the offering, including 1,740,000 shares …

As quoted in the press release:

CymaBay sold 13,340,000 shares of its common stock in the offering, including 1,740,000 shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $10.80 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.

Click here to read the full press release.

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