Gilead Sciences (GILD +0.4%) agrees to acquire YM BioSciences (YMI) for $510M, with the...

|About: Gilead Sciences, Inc. (GILD)|By:, SA News Editor

Gilead Sciences (GILD +0.4%) agrees to acquire YM BioSciences (YMI) for $510M, with the $2.95/share offer representing an 81% premium to the latter's close of $1.63 yesterday. With the deal, Gilead will gain access to YM's blood and immune cell disorder drugs. Its lead drug candidate is CYT387 for treating myelofibrosis, a progressive, chronic bone marrow disease. YM shares sky 78%. (PR)