Gilead Sciences to Acquire CymaBay Therapeutics for ~$4.3B
Shots:
- The acquisition was made as a step to expand its existing liver portfolio by the addition of CymaBay’s Seladelpar, a treatment for PBC including pruritus
- Gilead will commence a tender offer to acquire all outstanding shares of CymaBay’s common stock for $32.5/share in cash at a 27% 1-day premium adding to an equity value of $4.3B following the completion of which, Gilead will acquire all the remaining shares not tendered in the offer through a second step merger at the same price
- Seladelpar (oral selective PPARδ agonist) was evaluated in a P-III (RESPONSE) trial based on the results of which the US FDA accepted CymaBay’s NDA, granted priority review & assigned a PDUFA date of Aug 14, 2024
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Shivani is a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
