Shares of CymaBay Therapeutics (CBAY) soared to an all-time high Monday after Gilead Sciences (GILD) announced it's buying th🥀e developer 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开奖号码历史查询:closing price Friday.

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

The companies noted that the 澳洲幸运5开奖号码历史查询:Food and Drug Administration has complಞeted its filing review and accepted a new drug application for seladelpar, granting it priority review. A decision from the drug regulator is scheduled to come in August.&nb🐠sp;

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

The transaction is expected✨ to close this quarter.

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