Gilead Sciences has announced the completion of the deal to acquire CymaBay Therapeutics for approximately $4.3 billion in total equity value.
CymaBay’s investigational lead product candidate is seladelpar, which is for treating primary biliary cholangitis (PBC) including pruritus. Seladelpar complements Gilead’s existing liver portfolio and aligns with its commitment to bringing transformational medicines to patients.
Seladelpar is the first potent and selective peroxisome proliferator-activated receptor (PPAR) delta agonist (delpar) in development for PBC. In clinical studies of patients with PBC, it has reduced biomarkers associated with adverse clinical outcomes (liver-related complications, transplantation, and death) while improving pruritus (itching).
After the merger’s completion, CymaBay became a wholly-owned subsidiary of Gilead. This deal is expected to be an asset acquisition and reduce Gilead’s GAAP and non-GAAP 2024 EPS by approximately $3.10 – $3.20. Reflecting acquisition costs, associated operating expenses, and lower interest income, Gilead expects this transaction to reduce its GAAP and non-GAAP 2024 EPS by approximately $3.35 – $3.45 relative to the full-year 2024 guidance shared on February 6, 2024.
Seladelpar is an investigational product not approved for use anywhere globally, and its safety and efficacy have not been established.
KEY QUOTE:
“The acquisition of CymaBay brings us a potential best in disease therapy that could transform the treatment landscape for people with primary biliary cholangitis. I want to thank the CymaBay team for their efforts and commitment to addressing this high unmet need. We look forward to advancing seladelpar and building on Gilead’s more than 20-year legacy of treating and curing liver disease on a global scale.”
– Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences
