Gilead (GILD) to Buy CBAY for $4.3B, Add PBC Drug to Pipeline

Published on 13 Feb 2024 on Zacks via Yahoo Finance

Gilead (GILD) to Buy CBAY for $4.3B, Add PBC Drug to Pipeline

Gilead Sciences, Inc. GILD announced that it will acquire clinical-stage biopharmaceutical company, CymaBay Therapeutics, Inc. CBAY, for $32.50 per share in cash or a total equity value of $4.3 billion.

Shares of CBAY surged 25.8% on the acquisition news as the offer price represents 27% of the company’s closing share price as of Feb 9, 2024.

Financial Terms of the Acquisition

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Gilead (GILD) to Buy CBAY for $4.3B, Add PBC Drug to Pipeline

NASDAQ.GILD price evolution

NASDAQ.KRTX price evolution

NYSE.NVS price evolution

NASDAQ.MOR price evolution

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