Drugmaker Gilead to acquire CymaBay for $4.3 bln (updated)

CymaBay Therapeutics

12/02/2024 13:38

(Adds details in paragraph 2,3)
       Feb 12 (Reuters) - Gilead Sciences  GILD.O  on Monday
said it will acquire CymaBay Therapeutics  CBAY.O  for $4.3
billion, to expand its portfolio of liver disease drugs.
    The deal will give Gilead access to CymaBay's lead drug
candidate called seladelpar for the treatment of primary biliary
cholangitis, a type of chronic inflammatory liver disease.
    CymaBay had submitted a marketing application to the U.S.
Food and Drug Administration (FDA) for the drug in December. 
    Shares of CymaBay were halted ahead of the announcement in
premarket hours.

 (Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))