CymaBay Therapeutics, Inc. saw its loss widen to $6.95 million, or $0.30 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.98 million, or $0.26 a share.

The company has not recorded any revenues for the current as well as previous quarter.

Operating loss for the quarter was $6.69 million, compared with an operating loss of $5.85 million in the previous year period.

"In 2016, we made significant progress in our two clinical development programs, seladelpar for the treatment of primary biliary cholangitis, and arhalofenate, a unique Urate-Lowering Anti-Flare Therapy (ULAFT) candidate for the treatment of gout," said Dr. Harold Van Wart, chief executive officer of CymaBay Therapeutics. "We initiated a new dose-ranging Phase 2 study of seladelpar in patients with PBC to optimize dose selection on the strength of promising results from our earlier proof-of-concept study in this indication. At the end of 2016, we entered into an exclusive license agreement with Kowa Pharmaceuticals America, Inc. for the development and commercialization of arhalofenate in the U.S. Our accomplishments in 2016 have positioned us to advance our goal to become a leader in the development of novel therapies to treat liver diseases with high unmet medical need as we step forward into 2017."