Gilead acquiring CymaBay and its liver disease drug for $4.3 billion

Gilead Sciences is acquiring CymaBay Therapeutics for $4.3 billion, paying $32.50 per share, a 27% premium. CymaBay has seen its stock double in value since last fall due to growing confidence in its lead drug, seladelpar, set to treat primary biliary cholangitis (PBC), a liver disease mainly affecting women. The disease causes decreased liver function, itching, and fatigue, with increased risk of liver-related death in advanced stages. This acquisition will add a new treatment to Gilead’s portfolio, potentially receiving approval later this year.

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