Avoro Capital Advisors LLC - Jan 26, 2023 Form 4 Insider Report for CymaBay Therapeutics, Inc. (CBAY)

Role: 10%+ Owner
Signature: Avoro Capital Advisors LLC, by: /s/ Scott Epstein, its Chief Financial Officer & Chief Compliance Officer
Stock symbol: CBAY
Transactions as of: Jan 26, 2023
Transactions value $: $14,999,785
Form type: 4
Date filed: 1/30/2023, 03:30 PM
Previous filing: Nov 23, 2021
Next filing: Sep 14, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CBAY	Pre-funded Warrant (right to buy)	Purchase	$15M	+2.14M		$7.00	2.14M	Jan 26, 2023	Common Stock	2.14M	$0.00	See footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Subject to the terms and conditions set forth in the Pre-funded Warrant, the holder thereof may, at any time and from time to time on or after January 26, 2023, exercise the Pre-funded Warrant until it has been exercised in full.
F2	The securities reported herein are held on behalf of accounts managed by Avoro Capital Advisors LLC, a Delaware limited liability company (the "Investment Manager") and Avoro Life Sciences Fund LLC, a Delaware limited liability company, a fund managed by the Investment Manager. Behzad Aghazadeh ("Dr. Aghazadeh," and together with the Investment Manager, the "Reporting Persons") serves as the portfolio manager and controlling person of the Investment Manager.
F3	The filing of this statement shall not be deemed an admission that either of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.