Gilead bid against itself in $4.3B deal for CymaBay, filing shows
Gilead Sciences was the sole bidder for liver disease biotech CymaBay Therapeutics and ultimately hiked up its initial proposal by $9.50 per share, according to a new securities filing from Feb. 23.
Like many of the biopharma acquisitions in recent memory, CymaBay’s pending $4.3 billion exit to Gilead was the result of partnering discussions. Between late 2022 and early this year, CymaBay said it had talked with nearly two dozen biopharmaceutical companies about potential partnerships, per the Friday SEC paperwork.
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