NEW YORK, NY / ACCESSWIRE / April 12, 2018 / Biotech stocks Keryx and CymaBay were both flying higher in Wednesday trading on positive news. Keryx announced that it had received the 2018 Corporate Innovator Award from the National Kidney Foundation, while CymaBay announced new positive results from an ongoing study of Seladelpar.
RDI Initiates Coverage on:
Keryx Biopharmaceuticals, Inc.
CymaBay Therapeutics, Inc.
Keryx Biopharmaceuticals, Inc. shares closed up 10.27% on nearly 2.5 million shares traded yesterday. The company announced on Wednesday that it has received the 2018 Corporate Innovator Award from the National Kidney Foundation.
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CymaBay Therapeutics, Inc. shares closed up 11.35% on about 10.9 million shares on Wednesday. The stock was one of the biggest winners yesterday after the biotech company announced positive 12-week and 26-week results from an ongoing phase-II study of Seladelpar in patients who have primary biliary cholangitis. Seladelpar (MBX-8025) is the company's most advanced internal clinical program, a potent, selective, orally active PPARδ. The presentation, which is called "Treatment efficacy and safety of seladelpar, a selective peroxisome proliferator-activated receptor delta agonist, in primary biliary cholangitis patients: 12- and 26-week analyses of an ongoing international, randomized, dose ranging phase 2 study" will be made by Professor Gideon Hirschfield at The International Liver CongressTM hosted by the European Association for the Study of Liver Diseases (EASL) in Paris, France (April 11-15, 2018).
Herschfield remarked, "Seladelpar continues to demonstrate an impressive level of activity that is now sustained over 26 weeks of treatment. The decreased level of pruritus that was noted in the 10 mg group, a group that demonstrated a clinically relevant level of pruritus at baseline, is particularly intriguing and needs to be confirmed in additional studies." Chief Medical Officer of CymaBay, Dr. Pol Boudes, stated, "We are thrilled to have the opportunity to share new data from our development of seladelpar for patients with PBC in a late-breaking presentation at The International Liver CongressTM. This is the third consecutive year in which seladelpar will be featured in the late-breaker category at one of the key international liver meetings. We have now firmly established doses of seladelpar with compelling efficacy and tolerability which we expect to further confirm in a Phase 3 study planned to start in the second half of the year."
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