Page 1

August 12 , 2021 CYMABAY THERAPEUTICS CymaBay Reports Second Quarter and Six Months Ended June 30 , 2021 Financial Results and Provides Corporate Update Secured up to $ 100 million of additional development funding through a non - dilutive financing transaction with Abingworth • Funds the Phase 3 development program for seladelpar in primary biliary cholangitis ( PBC ) , including the Phase 3 RESPONSE clinical trial Actively recruiting patients in two global , clinical studies evaluating seladelpar in PBC • RESPONSE , a 52 - week , randomized , placebo - controlled , Phase 3 registrational study • ASSURE , an open - label , long - term study Conference call and webcast today at 4:30 p.m. ET NEWARK , Calif . , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Cyma Bay Therapeutics , Inc. ( NASDAQ : CBAY ) , a clinical - stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet need , today announced corporate updates and financial results for the second quarter ended June 30 , 2021 . In July 2021 , Cyma Bay announced a development funding agreement with Abingworth , pursuant to which CymaBay will receive up to $ 100 million of funding for seladelpar development costs , of which $ 75 million will be received in three installments over approximately six months . CymaBay has an option to receive an additional $ 25 million within approximately two months of the completion of enrollment of CymaBay's Phase 3 RESPONSE clinical trial . In exchange , CymaBay will make fixed payments spread over a six - year period based on regulatory approval in the U.S. or the E.U. after the first such regulatory approval is obtained , as well as pay fixed and capped sales milestones based on U.S. product sales . CymaBay has the ability to accelerate payment at a reduced amount upon regulatory approval and in the event of a change of control of CymaBay . CymaBay retains upside potential for seladelpar in the U.S. along with full worldwide commercial rights . CymaBay also continued to make progress conducting the development program for seladelpar in primary biliary cholangitis ( PBC ) . Additional clinical sites were activated in North America and Europe during the second quarter in RESPONSE , a global Phase 3 registrational study evaluating seladelpar in patients with PBC , and in ASSURE , an open label , long - term study of seladelpar in patients with PBC intended to collect additional safety data to support registration . Enrollment of patients in both of these studies continued through the second quarter and is expected to increase as more sites are activated through