Gilead to buy CymaBay Therapeutics for $4.3 billion

CymaBay Therapeutics Inc (NASDAQ: CBAY) opened more than 25% up this morning after Gilead Sciences Inc (NASDAQ: GILD) said it will buy the biopharmaceutical company for $4.3 billion.Details of Gilead-CymaBay agreementCopy link to sectionThe said deal values CymaBay at $32.50 per share. Lead asset of this Newark-headquartered firm is “seladelpar” – a candidate drug for primary biliary cholangitis. The acquisition, therefore, will help Gilead Sciences expand its liver portfolio.The news arrives only days afte ...