ICPT - CymaBay Therapeutics Deal May Not Be Needle Moving For $100B Valued Gilead But Acquisition Is Reasonably Priced: Analyst | Benzinga
Monday, Gilead Sciences Inc (NASDAQ:GILD) agreed to acquire CymaBay Therapeutics Inc (NASDAQ:CBAY) for $32.50 per share in cash or a total equity value of $4.3 billion.
The addition of CymaBay’s investigational lead product candidate, seladelpar for primary biliary cholangitis (PBC), including pruritus, complements Gilead’s existing liver portfolio.
Baird writes that Gilead’s investment in seladelpar for liver disease appears to be a strategically sound move, especially compared to potential investments in oncology.
The company’s focus on a space where it has demonstrated commercial success is seen as a positive step to restore confidence in its growth prospects.
Despite the ...