Gilead Sciences (NASDAQ:GILD) announced Friday it has successfully completed its acquisition of CymaBay Therapeutics (NASDAQ:CBAY) for an approximate total equity value of $4.3 billion.
With the merger finalized, CymaBay is now a wholly owned subsidiary of Gilead, and as a result, its common stock will be delisted from the Nasdaq Global Select Market, effective at the Friday market close.
Due to the acquisition, Gilead anticipates a decrease in both GAAP and non-GAAP earnings per share (EPS) for 2024 by approximately $3.35 to $3.45 compared to the full-year guidance shared last month.
“Reflecting acquisition costs, associated operating expenses and lower interest income, we expect this transaction to reduce Gilead’s GAAP and non-GAAP 2024 EPS by approximately $3.35 - $3.45 relative to the full-year 2024 guidance shared on February 6, 2024, the company said in a statement.
Gilead previously saw adjusted EPS ranging from $6.85 to $7.25 for the full fiscal 2024.