Oppenheimer analyst Jay Olson says the Dear Doctor letter for Intercept's (ICPT) Ocaliva raises awareness of unmet medical need for patients with primary biliary cholangitis, or PBC. Since patients with Child-Pugh B/C cirrhosis were not studied in Ocaliva trials, the analyst believes the FDA's collaboration with Intercept to leverage PK modeling for dosing guidance which is included in the label and emphasized in the Dear Doctor letter highlights the importance of providing novel treatments to PBC patients. Olson expects these events to have a positive impact on the treatment of all PBC patients, and says CymaBay (CBAY) may benefit from these dynamics. He reiterates an Outperform rating and $15 price target on CymaBay's shares.

New option listings for April 23rd include Express Inc (EXPRQ). Option delistings effective April 23rd include PGT Innovations Inc (PGTI), NGM Biopharmaceuticals Inc (NGM), Karuna Therapeutics Inc (KRTX), KINNATE BIOPHARMA INC (KNTE), Daseke Inc (DSKE), Tritium Dcfc Ltd (DCFC), Xtrackers MSCI All China Equity ETF (CN), CymaBay Therapeutics Inc (CBAY), Alteryx Inc (AYX), XTRACKERS MSCI CHINA A INCLUSION EQUITY ETF (ASHX), Recro Pharma, Inc. (SCTL), Splunk Inc (SPLK), and Textainer Group Holdings Limited (TGH).