Gilead Sciences Acquires CymaBay Therapeutics for $4.3 Billion

The acquisition aims to bolster Gilead's liver disease treatment portfolio, with CymaBay's lead product seladelpar receiving FDA priority review.

Gilead Sciences is acquiring CymaBay Therapeutics for $4.3 billion, aiming to enhance its liver disease treatment portfolio.
The acquisition values CymaBay at $32.50 per share, a 26.5% premium over its closing price last Friday.
CymaBay's lead product, seladelpar, for treating primary biliary cholangitis (PBC), has been granted priority review by the FDA, with a decision expected in August.
The transaction is anticipated to close in the first quarter of 2024, subject to regulatory approval.
Shares of CymaBay surged to an all-time high following the announcement, while Gilead's stock saw a modest increase.