Gilead's $4.3 Billion Acquisition of CymaBay Sends Stock Soaring
TL;DR
Gilead has announced its acquisition of CymaBay Therapeutics for $4.3 billion, just ahead of the FDA's expected decision on CymaBay's rare liver disease drug candidate, selexipag. The deal, valued at $32.50 per share, represents a 27% premium to CymaBay's closing price on Friday. CymaBay's drug has shown promise in treating primary biliary cholangitis, a rare chronic disease that primarily affects women in the US, with the FDA's approval decision deadline set for August 14.
Topics:businessbusiness-and-pharmaceuticals#biotech#business-and-pharmaceuticals#cymabay-therapeutics#fda-approval#gilead#liver-disease
- Gilead to snap up liver disease biotech CymaBay for $4.3B Endpoints News
- CymaBay Stock Skyrockets On Gilead's $4.3 Billion Takeover Investor's Business Daily
- CymaBay's stock surges as Gilead reaches $4.3 billion deal for liver-drug maker MarketWatch
- Gilead to Buy Liver Disease Biotech CymaBay Therapeutics for $4.3 Billion Barron's
- Drugmaker Gilead to acquire CymaBay for $4.3 bln Reuters.com
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