Form 8-K · Current Report · Filed 2024-03-22

Gilead Sciences Completes Acquisition of CymaBay Therapeutics

On March 22, 2024, Gilead Sciences, Inc. completed the acquisition of CymaBay Therapeutics, Inc. for approximately $4.3 billion in total equity value. This acquisition is expected to enhance Gilead's portfolio with the investigational drug seladelpar for primary biliary cholangitis. The deal, which was previously disclosed, involved a tender offer followed by a merger, with Gilead paying $32.50 per share for CymaBay's outstanding shares, excluding those owned by Gilead or its subsidiaries, those held by CymaBay, shares already accepted by Gilead, and shares subject to appraisal rights. The transaction is expected to reduce Gilead's 2024 EPS by approximately $3.10 - $3.20 on a GAAP basis and $3.35 - $3.45 on a non-GAAP basis.