AbbVie Retail Traders Remain Wary Amid Report Of $1B Gilgamesh Deal To Boost Mental Health Pipeline

Retail sentiment around AbbVie turned cautious late on Wednesday after the drugmaker was reported to be in late-stage talks to acquire Gilgamesh Pharmaceuticals for about $1 billion.

An announcement could come in the next few weeks, though talks may still be delayed or fall apart, according to a Bloomberg report, citing sources familiar with the matter.

If the deal goes through, it would mark another move into mental health treatments by AbbVie, which has been doubling down on the area since losing patent exclusivity on top-selling Humira. 

The drugmaker has spent over $20 billion on acquisitions since 2023 to offset the revenue decline, Reuters reported.

Gilgamesh, a privately held biotech, is working on next-generation psychedelic treatments called neuroplastogens, aimed at conditions like depression and anxiety. 

The company partnered with AbbVie in 2023 through a licensing agreement to co-develop psychiatric drugs, and in May, it reported encouraging mid-stage trial results for its lead candidate, GM-2505, which targets major depressive disorder.

A potential acquisition would bolster AbbVie’s psychiatric pipeline, following the mid-stage failure of a previously acquired schizophrenia drug. 

AbbVie already markets Vraylar, a drug for schizophrenia and bipolar disorder. Mental health company Atai Life Sciences, which counts investor Peter Thiel among its backers, is also active in this area. 

The company is fielding interest from larger players after acquiring Beckley Psytech and reporting positive trial data for its psychedelic nasal spray BPL-003.

On Stocktwits, retail sentiment for AbbVie remained in the ‘bearish’ zone amid ‘normal’ message volume.

AbbVie’s stock has risen 5.5% so far in 2025.

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