|By Marketwired .||
|June 16, 2014 09:01 AM EDT|
NEWARK, CA--(Marketwired - June 16, 2014) - CymaBay Therapeutics, Inc. (OTCQB: CYMA), a clinical-stage biopharmaceutical company developing novel therapies to treat metabolic and rare diseases with high unmet need, today announced that its common stock has been approved for listing on the NASDAQ Capital Market and is expected to begin trading on Wednesday, June 18, 2014 under the symbol "CBAY". The company's common stock will continue to trade on the Over the Counter Bulletin Board, under the symbol "CYMA", until the market close on Tuesday, June 17, 2014.
"Uplisting to NASDAQ is an important milestone for CymaBay. We believe that trading on NASDAQ will enhance our visibility, increase our liquidity and provide access to a broader investor base," said Harold Van Wart, President and CEO of CymaBay.
CymaBay Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies to treat metabolic and rare diseases with high unmet need. Arhalofenate, the Company's lead product candidate, possesses two therapeutic actions in a single drug. In gout patients, arhalofenate is intended to prevent painful attacks in joints through an anti-inflammatory effect while at the same time promoting excretion of uric acid by the kidney, thereby addressing both the key debilitating symptom and the underlying cause of the disease. CymaBay is currently investigating arhalofenate in a 12-week Phase 2b clinical trial in patients with gout. The Company's second product candidate, MBX-8025, demonstrated favorable effects on cholesterol, triglycerides and markers of liver health in a Phase 2 clinical trial in patients with mixed dyslipidemia. MBX-8025 is currently being considered for further development in certain orphan diseases.
For additional information about CymaBay visit www.cymabay.com.