Gilead Sciences, Inc. - GILD STOCK NEWS

Gilead Sciences, Inc. reported a 7% increase in product sales excluding Veklury, 14% increase in Biktarvy sales, and a 37% increase in oncology sales for the full year 2023. However, total revenue decreased by 4% in the fourth quarter of 2023 compared to the same period in 2022. The company's diluted EPS decreased to $1.14 in the fourth quarter of 2023. Gilead had $8.4 billion of cash, cash equivalents, and marketable debt securities as of December 31, 2023.

Gilead Sciences has been named one of Newsweek America's Greatest Workplaces for Diversity. The company is a research-based biopharmaceutical company that discovers, develops, and commercializes innovative medicines in areas of unmet medical need. Gilead operates in more than 35 countries worldwide and has headquarters in Foster City, California.

Gilead Sciences, Inc. (Nasdaq: GILD) appoints Dr. Ted Love, a highly respected executive leader in the biopharma industry, to its Board of Directors. Dr. Love has extensive experience and a strong scientific background, having led a pre-clinical startup to a global commercial company with a focus on sickle cell disease. He is known for championing access to care and has received distinguished service awards for addressing healthcare disparities. Gilead's Chairman and CEO, Daniel O’Day, expressed delight in welcoming Dr. Love to the board, citing his alignment with Gilead's values and his potential to contribute to the company's impact on patients and communities worldwide.

Kite, a Gilead Company, has received FDA approval for a manufacturing process change that will reduce the turnaround time for Yescarta from 16 days to 14 days. This change is crucial for patients with relapsed or refractory large B-cell lymphoma, as it allows for a quicker delivery of the CAR T-cell therapy, potentially improving the patients' chances of survival. The approval is expected to benefit healthcare providers and patients, with Kite's focus on increasing manufacturing capacity and reliability.

Gilead Sciences released a new book called 'From the Margins' featuring the personal journeys of six people in the UK living with HIV, hepatitis C, and cancer. The book aims to raise awareness about the challenges faced due to stigma and health inequities. Each person's experience is deliberately written around the margins of the book to depict what it feels like to live on the periphery of society with a chronic or life-threatening disease.

Gilead Sciences, Inc. and Arcus Biosciences, Inc. have announced an amendment to their collaboration agreement and a separate equity investment by Gilead of $320 million in Arcus common stock at $21.00 per share. The investment reinforces the companies' conviction in the TIGIT pathway and provides an opportunity to accelerate the anti-TIGIT program. The amendment also provides Gilead with one additional seat on the Arcus Board. The press release highlights the governance enhancements enabling streamlined decision-making and reflects the continued growth of the collaboration. Gilead and Arcus have reprioritized the joint domvanalimab development program to focus on advancing and potentially accelerating the Phase 3 studies STAR-121 (lung cancer) and STAR-221 (gastrointestinal cancer). This prioritization reflects the companies' continued conviction in the TIGIT pathway and the Fc-silent design of domvanalimab, which has the potential for differentiation in both efficacy and safety. The additional investment by Gilead, which extends Arcus' cash runway into 2027, will enable the funding of Phase 3 studies of quemliclustat in pancreatic cancer and AB521 in kidney cancer, as well as the preparation for potential product approvals.

Gilead Sciences, Inc. invests $320 million in Arcus Biosciences, Inc. and amends collaboration agreement, raising Gilead's ownership stake in Arcus to 33%. The investment aims to accelerate the joint development programs, with a focus on advancing Phase 3 studies for lung and gastrointestinal cancers. The amendment also provides Gilead with one additional seat on the Arcus Board, enabling streamlined decision-making.

Gilead Sciences, Inc. (GILD) will release its Q4 and full year 2023 financial results and guidance on February 6, 2024. A webcast will be hosted by the company's management to discuss the results and provide a business update.

The press release discusses the partnership between Gilead and the Metastatic Breast Cancer Association to use artificial intelligence to share the experiences of women living with metastatic triple-negative breast cancer (mTNBC). The collaboration resulted in the creation of unique paintings that depict the emotional weight of living with this diagnosis. The project, Paintings of Hope, received numerous honors and was displayed in hospitals around Spain, as well as in the Spanish Parliament. The success of this project led to the launch of a new project, Portraits of Hope, which takes a more personal approach with the involvement of well-known Spanish artists.