CymaBay Launches Public Offering Of $150 Mln Of Shares, Warrants

(RTTNews) - CymaBay Therapeutics, Inc. (CBAY), a company focused on developing therapies for liver and other chronic diseases, announced on Monday that it has started an underwritten public offering of $150 million of its shares and pre-funded warrants.

The drug maker expects to use the net proceeds from the offering to fund its ongoing development of seladelpar, including clinical trials targeting market expansion. In addition, the company intends to use it for working capital and general corporate purposes.

Underwriters are granted a 30-day option to purchase up to an additional 15 percent of its shares in the offering.