Shares of CymaBay Therapeutics (NASDAQ: CBAY) were jumping 14.2% higher as of 10:54 a.m. ET on Friday. This move came on the heels of an 8.5% gain on Thursday.

The continued momentum is a result of CymaBay's announcement yesterday of positive top-line results from a late-stage clinical study evaluating experimental drug seladelpar in treating primary biliary cholangitis (PBC), a rare chronic inflammatory liver disease.

CymaBay reported that seladelpar achieved the study's primary endpoint as well as all key secondary end points.

Continue reading

Source Fool.com