---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-24-002027"
form_type: "8-K"
ticker: "GILD"
cik: "0000882095"
company_name: "GILEAD SCIENCES, INC."
filed_at: "2024-02-12T23:59:59+00:00"
generated_at: "2026-06-06T04:37:50.480456+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Gilead to acquire CymaBay for $4.3B, adding seladelpar for PBC with FDA priority review

## Summary
- Gilead to pay $32.50/share in cash, total equity value of $4.3 billion, a 27% premium over CymaBay's Feb 9 close.
- Seladelpar (PPARδ agonist) for primary biliary cholangitis has FDA priority review; PDUFA date Aug 14, 2024.
- Phase 3 RESPONSE trial: seladelpar achieved primary composite endpoint (61.7% biochemical response vs 20% placebo).
- Deal expected to close in Q1 2024, subject to HSR clearance and majority tender; termination fee of $151.6M.
- Upon FDA approval, transaction expected to be ~neutral to Gilead EPS in 2025 and significantly accretive thereafter.

## SEC filing metadata
- accession: 0000950103-24-002027
- form_type: 8-K
- ticker: GILD
- cik: 0000882095
- company_name: GILEAD SCIENCES, INC.
- filed_at: 2024-02-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/882095/000095010324002027/0000950103-24-002027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/882095/000095010324002027/dp206638_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-24-002027
- JSON: https://secwatch.observer/filing/0000950103-24-002027.json
- Plain text: https://secwatch.observer/filing/0000950103-24-002027.txt

## Key facts
- Material Agreements
  GILEAD SCIENCES, INC. entered into Agreement and Plan of Merger with CymaBay Therapeutics, Inc. valued at $32.50 per Share (effective 2024-02-11).
  - Action: entry
  - Agreement: merger
  - Counterparty: CymaBay Therapeutics, Inc.
  - Value: $32.50 per Share
  - Effective: 2024-02-11
  source text: On February 11, 2024, Gilead Sciences, Inc., a Delaware corporation (" Parent " or " Gilead "), entered into an Agreement and Plan of Merger (the " Merger Agreement "), among Parent, CymaBay Therapeutics, Inc., a Delaware corporation (the " Company "), and Pacific Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent (" Purchaser ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/882095/000095010324002027/0000950103-24-002027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.