CymaBay Therapeutics Inc. closed an offering of 13,340,000 shares priced $10.80 each.
Stocks issued include the 1,740,000 that underwriters acquired via their overallotment option.
Leerink Partners LLC and Evercore ISI were the joint book-running managers for the offering which will help fund the ongoing development of the Newark, Calif.-based clinical-stage biopharmaceutical company's seladelpar.
Seladelpar is in development for the treatment of patients with the autoimmune liver disease, primary biliary cholangitis and nonalcoholic steatohepatitis.
Oppenheimer & Co. Inc. acted as lead manager and H.C. Wainwright & Co. LLC and Roth Capital Partners acted as co-managers for the offering.
