Shares of CymaBay Therapeutics (CBAY) soared to an all-time high Monday after Gilead Sciences (GILD) announced it's buying the d🐼eveloper of medicine for liver and other chronic diseases for $4.3 🏅billion.

Gilead said Monday that it will pay $32.50 per share in cash for CymaBay, a 26.5% premium to CymaBay’s 澳洲幸运5官方开奖结果体彩网:closing price Friday.

CymaBay’s investigational lead product, seladelpar, is a treatment for primary biliary cholangitis (PBC), an autoimmune disease that affects the 𓂃bile ducts in the liver. It achieved statistical siﷺgnificance across its primary endpoints in a Phase 3 trial. 

The companies noted that the 澳洲幸运5官方开奖结果体彩网:Food and Drug Administration has completed its filing rev🌳iew and accepted a new drug application for s🧸eladelpar, granting it priority review. A decision from the drug regulator is scheduled to come in August. 

Gilead Chief Executive 𝔉Officer (CEO) Daniel O’Day said that by joining forces with CymaBay, “we have the potential to address a significant unmet need for people living with PBC and expand on our existing broad 𒉰range of transformational therapies.” 

The transaction is expe🍃cted to close this quarter.

CymaBay shares were up 25% at $32.10 per share as 🗹of about 1:20 p.m. ET M💖onday after the acquisition was announced. Shares of Gilead ticked up 0.8% to $74.29.