CymaBay Therapeutics, Inc. (CBAY)

$SLS Phase 2 T Cell Gen Combination Data with $MRK Keytruda - Previous results had 100% patient survival at 9+ months in Platinum Refractory End stage Ovarian cancer. Enrollment was completed and data locked for Joint analysis in May/June Timeframe. Anyone (serious question) have an opinion on this. Would appreciate it.

https://www.globenewswire.com/news-release/2021/06/30/2255695/0/en/SELLAS-Reports-Promising-Updated-Clinical-Data-and-Initial-Immune-Response-Profiles-from-Ongoing-Phase-1-2-Study-of-Galinpepimut-S-GPS-Combined-with-Keytruda-for-Treating-WT1-Advan.html
$SWTX Ph 3
$ADAG Ph 2
$CCCC
$PRLD
$KPTI
$ICPT Ph 3
$IMMP Ph 2
$VERU Ph 2
$DMAC Ph 2
$KLDO Ph 2
$MREO Ph 2
$SLS Ph 2
$CORT Ph 2
$CRBP Ph 2
$PRAX Ph 2
$AMRN Ph 2
$ZEAL Ph 3
$CBAY Ph 2
$ARVN Ph 2
$TNXP Ph 3
$FGEN Ph 2

$SWTX Ph 3
$ADAG Ph 2
$CCCC
$PRLD
$KPTI
$ICPT Ph 3
$IMMP Ph 2
$VERU Ph 2
$DMAC Ph 2
$KLDO Ph 2
$MREO Ph 2
$SLS Ph 2
$CORT Ph 2
$CRBP Ph 2
$PRAX Ph 2
$AMRN Ph 2
$ZEAL Ph 3
$CBAY Ph 2
$ARVN Ph 2
$TNXP Ph 3
$FGEN Ph 2

Sujal and co. did an admirable job of not over hyping but showing quiet confidence at the same time. They can't control the market. Remember the stock was down only 20 cents in the morning but closed another buck down by the close. Nothing to do with management. One thing I noticed - they don't give any warning for nukes. They quietly worked with the FDA and then announced the lift of all holds. They quietly unblinded the shortened PBC trial and then announced stellar results. They are probably quietly working on partnerships for NASH and PSC now and will suddenly announce that as well in 4Q20. I think the current $20 target from Cantor Fitzgerald will look ultra conservative when that happens. BTW, here are the latest upgrades in the past 2 weeks (besides the upgrades in May):
Date Brokerage Action Rating Price Target Impact on Share Price
8/11/2020 Raymond James Boost Price Target Strong-Buy $10.00 ➝ $11.00 High
8/4/2020 Cantor Fitzgerald Boost Price Target Overweight $15.00 ➝ $20.00 High
8/4/2020 HC Wainwright Boost Price Target Buy $9.00 ➝ $13.00 High
8/4/2020 B. Riley Reiterated Rating Buy $9.00 High
8/3/2020 Oppenheimer Initiated Coverage Buy $12.00 High
8/3/2020 Stifel Nicolaus Boost Price Target Hold ➝ Buy $8.00 ➝ $13.00 High
7/30/2020 Piper Sandler Initiated Coverage Overweight $12.00 High

Intercept Pharmaceuticals Will Lay Off a Quarter of Its Staff as NASH Dream Fades

Intercept Pharmaceuticals is laying off a quarter of its staff as it ends its run as the leader in the race to treat NASH, the newly defined liver disease that was once the hope of dozens of drug companies.
Companies in the NASH field, once among the hottest areas of development for big pharma and biotech alike, have suffered a string of disappointments in recent months. In July, Genfit (ticker: GNFT), which had been expected to bring out one of the first NASH drugs, said it was dropping its NASH program altogether.
Now, Intercept says it is scaling back its staff due to the Food and Drug Administration’s decision in June to reject its application for approval of the company’s NASH drug. The treatment would have been the first to get the go-ahead from the regulator.
Shares of Intercept (ICPT) fell 39.7% on June 29, when the company announced that the FDA had rejected its application for its drug obeticholic acid to be approved as a NASH treatment. The company said at the time that the FDA had told it that the expected benefit of the drug “does not sufficiently outweigh the potential risks.”
The stock fell another 10.7% on Tuesday, when the company filed a Securities and Exchange Commission report saying it had adopted a plan to “reduce its workforce” in light of the FDA decision. The company said it would continue to develop obeticholic acid as a NASH treatment, and as a treatment for primary biliary cholangitis, another liver disease.
Shares were up 3% on Wednesday morning.
The stock’s collapse brings shares of the company back to earth, after an extraordinary bump that lasted nearly six years. On a single day in January 2014, the stock rose from $72.39 to $275.87 after the company announced positive results on a trial of obeticholic acid in NASH.