Why CymaBay Therapeutics Inc. (CBAY) stock surge in the after-hours on Friday?

CymaBay Therapeutics Inc. (CBAY) shares soared 5.24% in after-hours on Friday, November 05, 2021, and closed the weekly trading at $4.62 per share. However, in the regular trading session, CBAY’s stock lost 3.94%. CBAY shares have fallen 48.35% over the last 12 months, and they have moved up 12.56% in the past week. Over the past three months, the stock has gained 12.85%, while over the past six months, it has surged 11.42%.

Let’s have a look at its recent news and developments.

CBAY participation in the upcoming conferences

• CymaBay Therapeutics Inc will participate at the Credit Suisse 30^thAnnual Healthcare Conference which will be held on Monday, November 8, 2021, at 11:20 am Eastern standard time.
• CymaBay Therapeutics will do multiple presentations of results from clinical and preclinical studies of seladelpar The Liver Meeting Digital Experience™ 2021 (TLMdX) of the American Association for the Study of Liver Diseases (AASLD), which will be held online on November 12^th– 15^th.
•  CBAY will also participate at Evercore ISI 4^thAnnual HealthCONx Conference which is to be held on Tuesday, November 30, 2021, at 9:15 am Eastern Time.
•  On December 2, 2021, the company will be present at Piper Sandler 33^rdAnnual Virtual Healthcare Conference.

CBAY upcoming financial results announcement

CymaBay Therapeutics, Inc. (CBAY) will host a conference call and live audio webcast on Wednesday, November 10, 2021, at 4:30 p.m. Eastern Time to discuss financial results for the third quarter ended September 30, 2021, and to provide a business update.

CBAY Q2 2021 financial results

On August 12, 2021, CymaBay Therapeutics, Inc. (CBAY) released financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

• General and administrative expenses were $6.5 million in Q2 2021 compared to $3.2 million in the second quarter of 2020.
• Research and development expenses were $16.7 million in Q2 2021 compared to $7.9 million in Q2 2020.
• CBAY suffered a net loss of $23.2 million or $0.34 per diluted share in Q2 2021 compared to a net loss of $10.7 million or $0.16 per share in Q2 2020.
• As of June 30, 2021, the company had $106.1 million in cash, cash equivalents, and short-term investments.

Conclusion

Well, as of this writing, there is no recent news or developments which could be linked with its early loss and later recovery on Friday. we hope that it will commence the new week in a positive mode.