CymaBay Therapeutics Inc. is scrapping two mid-stage trials of the liver disease drug seladelpar after biopsies found a type of liver damage in some patients, sending the company’s shares down more than 75 percent.

Following a disappointing review of interim data from a clinical study of GS-5745, an investigational anti-MMP9 antibody, Gilead said the company will halt the trial.

The outlook remains bright due to a favorable regulatory arena, support for biopharma-friendly legislation and development incentives, expanding scientific opportunities in key therapeutic areas such as immuno-oncology, and big pharma’s continued push to obtain innovation.

January 19, 2016By Mark Terry, BioSpace.com Breaking News Staff   Ardley, N.Y.-based Acorda Therapeutics, Inc. (ACOR) announced today that it plans to acquire Turku, Finland-based Biotie Therapies Corp. (BITI) for approximately $363 million. Acorda focuses on central nervous system disorders, such as multiple sclerosis (MS), spasticity related to MS, spinal cord injury (SCI), brain trauma […]