Gilead to snap up liver disease biotech CymaBay for $4.3B
Gilead is betting $4.3 billion on a biotech six months before the FDA is expected to make an approval decision on its rare liver disease drug candidate.
The California big biotech will pay cash to buy CymaBay Therapeutics, the companies said Monday morning. The deal is for $32.50 per share, a 27% premium to the biotech’s closing price on Friday.
CymaBay’s seladelpar cleared its Phase III test in patients with primary biliary cholangitis last September, and the FDA set an approval decision deadline of Aug. 14. The rare chronic disease mainly impacts women, about 130,000 in the US, according to Gilead. PBC derails liver function, with itching and fatigue as early signs.
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