Gilead's $4.3 Billion Acquisition of CymaBay Sends Stock Soaring

Gilead has announced its acquisition of CymaBay Therapeutics for $4.3 billion, just ahead of the FDA's expected decision on CymaBay's rare liver disease drug candidate, selexipag. The deal, valued at $32.50 per share, represents a 27% premium to CymaBay's closing price on Friday. CymaBay's drug has shown promise in treating primary biliary cholangitis, a rare chronic disease that primarily affects women in the US, with the FDA's approval decision deadline set for August 14.