Unlike Moderna, Pfizer, and Vaxart CymaBay Therapeutics (NASDAQ: CBAY) rockets due to other studies and researches that test existing drugs on the seriously fatal diseases. A potent and selective peroxisome proliferator, seladelpar which is activated receptor delta (PPARδ) agonist that has demonstrated anti-cholestatic and anti-inflammatory effects in clinical studies for PBC. So, this drug has demonstrated efficacy, safety, and became well-tolerated in Phase 2 study on patients with primary biliary cholangitis (PBC).
After announcing the next study to confirm the potential of seladelpar CBAY has risen 50% on increasing daily volume that may exceed average volume by 10 fold.
If the upcoming phase 3 study delivers positive results CBAY may rocket till $20 by the aid of short term traders.