Gilead Sciences to acquire PepStar Therapeutics for $1.275 billion

Gilead Sciences has agreed to acquire the oral IL-23 receptor inhibitor HCXT-2001 from PepStar Therapeutics in a deal valued at $1.275 billion in upfront cash. The acquisition provides Gilead with worldwide rights to the program, which is currently in Phase 1 clinical trials.

HCXT-2001 is an oral macrocyclic peptide designed to target the IL-23 pathway, a clinically validated method for treating immune-mediated inflammatory diseases such as inflammatory bowel disease (IBD) and psoriasis. Gilead’s Chief Medical Officer, Dietmar Berger, noted the potential for the asset to serve as a daily oral treatment, either alone or in combination with the candidate emvistegrast.

The transaction is expected to impact Gilead’s fourth-quarter earnings, reducing both GAAP and non-GAAP earnings per share by approximately $0.79 to $0.83. The deal is subject to customary closing conditions and is anticipated to close in the fourth quarter of 2026.