Drugmaker Gilead Sciences Scoops Up Liver-Disease Focused CymaBay Therapeutics For $4.3B
Portfolio Pulse from Vandana Singh
Gilead Sciences Inc (NASDAQ:GILD) is acquiring CymaBay Therapeutics Inc (NASDAQ:CBAY) for $4.3 billion, or $32.50 per share in cash. This acquisition enhances Gilead's liver disease portfolio with CymaBay's lead product candidate, seladelpar, for primary biliary cholangitis (PBC). Seladelpar has shown promising results in Phase 3 trials and has received FDA priority review. The deal is expected to close in Q1 2024, with potential revenue growth and EPS neutrality in 2025 for Gilead.
February 12, 2024 | 2:22 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
CymaBay's shares surged 24.2% in premarket trading following the announcement of its acquisition by Gilead Sciences for $4.3 billion, or $32.50 per share in cash.
The acquisition announcement has already positively impacted CBAY's stock price, indicating a short-term bullish outlook for investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Gilead's acquisition of CymaBay for $4.3 billion enhances its liver disease portfolio with seladelpar, a promising drug for PBC. The deal is expected to close in Q1 2024, with potential revenue growth and EPS neutrality in 2025.
The acquisition directly enhances Gilead's product portfolio, promising revenue growth and neutral EPS impact in 2025, indicating a positive outlook for GILD's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100