FOSTER CITY (dpa-AFX) - Gilead Sciences, Inc. (GILD) and CymaBay
Therapeutics, Inc. (CBAY) announced a definitive agreement under which Gilead
will acquire CymaBay, a clinical-stage biopharmaceutical company, for $32.50 per
share in cash or a total equity value of $4.3 billion. Gilead Sciences expects
the acquisition will be approximately neutral to earnings per share in 2025 and
significantly accretive thereafter.

Gilead said the addition of CymaBay's investigational lead product candidate,
seladelpar for the treatment of primary biliary cholangitis including pruritus,
complements the company's existing liver portfolio. The FDA has completed its
filing review and accepted a New Drug Application for seladelpar and granted
priority review with a Prescription Drug User Fee Act target action date of
August 14, 2024.

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