secwatch.observer — SEC 8-K summary
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Issuer:     CymaBay Therapeutics, Inc. (—)
CIK:        0001042074
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001193125-24-031185
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gilead to acquire CymaBay for $32.50/sh ($4.3B); seladelpar PBC drug with priority review
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- All-cash tender at $32.50/share, a 27% premium to Feb. 9 close; equity value ~$4.3B.
- Seladelpar (PPARδ agonist) for primary biliary cholangitis has FDA priority review; PDUFA Aug. 14, 2024.
- Phase 3 RESPONSE trial: 61.7% biochemical response vs 20% placebo; 25% ALP normalization vs 0%.
- Closing expected Q1 2024, subject to HSR and minimum tender of majority of shares.
- Termination fee of $151.6M payable by CymaBay under certain circumstances.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042074/000119312524031185/0001193125-24-031185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042074/000119312524031185/d791540d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-031185

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer