Press release
Investigation announced for Investors in shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY)
An investigation was announced concerning possible securities laws violations by CymaBay Therapeutics, Inc. in connection with certain financial statements.
Investors who purchased shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by CymaBay Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Newark, CA based CymaBay Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases.
On June 11, 2019, CymaBay Therapeutics, Inc. announced results from an ongoing 52-week Phase 2b dose-ranging, paired liver biopsy study. The results showed reductions in liver fat were minimal and not significant compared to placebo. Nonetheless, CymaBay's Chief Medical Officer, Dr. Pol Boudes, downplayed these results, stating "[w]hile the reductions in liver fat were minimal, we remain encouraged by the significant improvements in biochemical markers of liver injury that we observed at week 12."
On September 17, 2019, CymaBay Therapeutics, Inc. announced the Company and Dr. Boudes "mutually agreed" he would cease to be an officer and employee of the Company.
Then, on November 25, 2019, CymaBay Therapeutics, Inc. announced it was halting the development of Seladelpar "based on initial histological findings observed in the Phase 2b study of seladelpar in NASH."
On December 19, 2019, CymaBay Therapeutics, Inc. announced it would terminate 60% of its employees as it explores strategic alternatives, sending the price of its shares sharply lower again. A month later, nearly half of the Company's Board abruptly resigned.
On January 29, 2020, CymbaBay's President and CEO, Sujal Shah, published a letter to shareholders stating that the Company had been "working to assess all potential ways to maximize value for our shareholders, including liquidation, sale, merger, asset acquisitions, and/or continuing development of our internal programs."
Shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY) declined from $15.30 per share in March 2018 to as low as $1.48 per share on February 12, 2020.
Those who purchased shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Investors who purchased shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by CymaBay Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Newark, CA based CymaBay Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases.
On June 11, 2019, CymaBay Therapeutics, Inc. announced results from an ongoing 52-week Phase 2b dose-ranging, paired liver biopsy study. The results showed reductions in liver fat were minimal and not significant compared to placebo. Nonetheless, CymaBay's Chief Medical Officer, Dr. Pol Boudes, downplayed these results, stating "[w]hile the reductions in liver fat were minimal, we remain encouraged by the significant improvements in biochemical markers of liver injury that we observed at week 12."
On September 17, 2019, CymaBay Therapeutics, Inc. announced the Company and Dr. Boudes "mutually agreed" he would cease to be an officer and employee of the Company.
Then, on November 25, 2019, CymaBay Therapeutics, Inc. announced it was halting the development of Seladelpar "based on initial histological findings observed in the Phase 2b study of seladelpar in NASH."
On December 19, 2019, CymaBay Therapeutics, Inc. announced it would terminate 60% of its employees as it explores strategic alternatives, sending the price of its shares sharply lower again. A month later, nearly half of the Company's Board abruptly resigned.
On January 29, 2020, CymbaBay's President and CEO, Sujal Shah, published a letter to shareholders stating that the Company had been "working to assess all potential ways to maximize value for our shareholders, including liquidation, sale, merger, asset acquisitions, and/or continuing development of our internal programs."
Shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY) declined from $15.30 per share in March 2018 to as low as $1.48 per share on February 12, 2020.
Those who purchased shares of CymaBay Therapeutics, Inc. (NASDAQ: CBAY) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
