CymaBay Therapeutics has received a $5 million milestone payment from Kowa Pharmaceuticals America for the initiation of a study evaluating the pharmacokinetics (PK) of arhalofenate in subjects with renal impairment.   “We are pleased with Kowa’s continued commitment to advancing the development of arhalofenate for patients with gout,” said Sujal Shah, president and chief executive officer of CymaBay.  “The initiation of the renal PK study is a key step toward Phase 3 development. We bel...