Gilead Sciences, Inc. (GILD) announced positive interim results from the ongoing ASSURE study on pipeline candidate seladelpar. ASSURE is an open-label study evaluating the long-term safety and efficacy of seladelpar, a once-daily potent and selective peroxisome proliferator-activated receptor (PPAR) delta agonist or delpar. Seladelpar is a first-in-class oral, selective PPAR-delta agonist or delpar is being evaluated for treating primary biliary cholangitis (PBC). The study enrolled adult patients with PBC ...

Summary of Gilead Sciences, Inc. Conference Call Company Overview - **Company**: Gilead Sciences, Inc. (NASDAQ:GILD) - **Event**: RBC Capital Markets Global Healthcare Conference - **Date**: May 15, 2024 - **Participants**: Johanna Mercier (Chief Commercial Officer), Brian Abrahams (Senior Biotech Analyst at RBC Capital Markets) Key Points on HIV Franchise - **Market Leadership**: Gilead holds over 70% market share in the HIV treatment market, primarily driven by Biktarvy, which has a 49% share in the daily oral segment [3][4] - **Market Growth**: The HIV treatment market grows annually by 2-3%, with Gilead's Biktarvy showing a 3% year-on-year market share growth in Q1 [3][4] - **Long-Acting Treatments**: Gilead is developing long-acting oral treatments and injectables, including lenacapavir, which is expected to enhance adherence and drive growth [4][5][6] - **Prevention Market**: The HIV prevention market is currently about $3 billion, with Gilead holding over 40% share through Descovy. The market is growing at approximately 11% year-on-year [7][9] - **Future Opportunities**: Lenacapavir for PrEP (pre-exposure prophylaxis) is anticipated to launch by late 2025, potentially doubling the market size due to its less frequent dosing [8][9][10] Financial Guidance - **2025 Outlook**: Gilead expects flat growth for HIV in 2025 due to the impact of the IRA (Inflation Reduction Act) but anticipates a reset to growth in 2026 [12][13] Oncology Insights - **Trodelvy Performance**: Trodelvy is the leading treatment for second-line metastatic triple-negative breast cancer, with significant room for growth as only 1/3 of eligible patients are currently treated with it [15][16] - **Bladder Cancer**: Gilead has conditional approval for bladder cancer treatment and is awaiting data from the TROPiCS-04 trial, which could establish a stronger position in the second-line setting [16][17] - **Lung Cancer**: Gilead is exploring opportunities in lung cancer, with ongoing trials and data expected to be presented at ASCO [18][19] New Product Development - **Seladelpar for PBC**: Gilead is preparing to launch Seladelpar for primary biliary cholangitis (PBC) in Q3 2024, targeting a market of approximately 130,000 patients in the U.S. [22][24] - **Multiple Myeloma**: Gilead is collaborating with Arcellx to develop Anito-cel for multiple myeloma, with a market opportunity estimated at $12 billion [27][28] Strategic Focus - **Therapeutic Areas**: Gilead is focusing on urology, inflammation, and oncology for future growth and potential acquisitions [36][38] - **Pipeline Confidence**: The company expresses strong confidence in its current pipeline and growth opportunities over the next 5 to 10 years [39] Additional Insights - **Market Dynamics**: The HIV prevention market is expected to expand significantly with new entrants, increasing awareness and treatment uptake [7][10] - **Patient Demographics**: Current PrEP treatments primarily serve affluent demographics, indicating a need for broader outreach to underserved populations [9][10] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Gilead's market position, growth opportunities, and future product developments.

Summary of Gilead Sciences, Inc. Conference Call Company Overview - **Company**: Gilead Sciences, Inc. (NASDAQ: GILD) - **Event**: BofA Securities 2024 Health Care Conference - **Date**: May 14, 2024 - **Participants**: Geoff Meacham (Bank of America Securities), Andrew Dickinson (CFO) Key Points on HIV Business - **BIKTARVY Performance**: - BIKTARVY has gained 3 percentage points in the overall HIV treatment market year-over-year, with sales growing 10% year-over-year [6] - It is used by 49% of HIV patients in the U.S. as their first treatment and has a long retention rate due to its effectiveness [6] - BIKTARVY is a $12 billion drug with patent protection until 2033, making it a cornerstone of Gilead's HIV portfolio [7][8] - **Market Dynamics**: - The overall HIV treatment market is growing at 2% to 3% year-over-year, with stable pricing [7] - Competitive dynamics exist, particularly in Europe where price sensitivity is higher [10] - **Future Developments**: - Gilead has nine programs in clinical development for next-generation HIV therapies, with at least four expected launches by the end of the decade [11][12] - Long-acting therapies are anticipated to capture at least half of the HIV treatment market over time [16][17] Key Points on HIV Prevention - **Market Growth**: - The HIV prevention market has grown significantly, with an 11% year-over-year increase in the first quarter [19] - Gilead's DESCOVY and TRUVADA are key products, with lenacapavir expected to be a viable option for prevention [18] - **Lenacapavir**: - Expected approval for lenacapavir as a six-month injection for prevention by 2025, which could significantly impact the HIV epidemic [20][21] Key Points on Oncology - **TRODELVY Performance**: - TRODELVY, an antibody-drug conjugate, is commercially successful, with $1 billion in sales and potential for growth in multiple solid tumors [26] - Upcoming Phase 3 data for TRODELVY in breast cancer and bladder cancer is anticipated [25] - **Trop-2 Targeting**: - Trop-2 is a promising target across various solid tumors, with ongoing studies in lung cancer and other indications [28] Key Points on Cell Therapy - **Kite Acquisition**: - Gilead's cell therapy business, particularly CAR T therapies, is crucial, with $2 billion in sales and significant growth potential [42] - Manufacturing capabilities are a competitive advantage, with a 14-day turnaround time for CAR T production [43] - **Anito-cel Development**: - Partnership with Arcellx for anito-cel, a BCMA CAR T therapy, shows promise with favorable Phase 1/2 data [45] Key Points on Liver Disease - **CymaBay Acquisition**: - Gilead acquired CymaBay, which has a product for Primary Biliary Cholangitis (PBC), expected to be breakeven to EPS next year and accretive in 2026 [58][59] - The drug shows significant benefits for liver injury markers and pruritus, enhancing its market potential [59] Strategic Outlook - Gilead plans to pursue similar acquisitions every two to three years, focusing on late-stage assets with significant revenue growth potential [60]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File No. 0-19731 GILEAD SCIENCES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 94-3047598 (State or Other Jurisdi ...

Gilead Sciences, Inc. (GILD) reported better-than-expected results in the first quarter, as its loss was narrower than expected and sales beat estimates.GILD’s first-quarter adjusted loss per share of $1.32 per share was narrower than the Zacks Consensus Estimate of a loss of $1.49. In the year-ago quarter, the company reported adjusted earnings of $1.37 per share.The year-over-year decrease was due to an acquired in-process research and development (IPR&D) charge of $3.9 billion, or $3.14 per share, relate ...

Gilead Sciences, Inc. (NASDAQ:GILD) Q1 2024 Earnings Conference Call April 25, 2024 4:30 PM ET Company Participants Jacquie Ross - Vice President, Investor Relations Daniel O'Day - Chairman and Chief Executive Officer Johanna Mercier - Chief Commercial Officer Merdad Parsey - Chief Medical Officer Andrew Dickinson - Chief Financial Officer Cindy Perettie - Executive Vice President, Kite Conference Call Participants Chris Schott - JPMorgan Daina Graybosch - Leerink Partners Umer Raffat - Evercore ISI Tyler V ...

Q124 Financial Results A p r i l 2 5 , 2 0 2 4 Forward-Looking Statements Statements included in this presentation that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include those relating to: Gilead’s ability to achieve its anticipate ...

For the quarter ended March 2024, Gilead Sciences (GILD) reported revenue of $6.69 billion, up 5.3% over the same period last year. EPS came in at -$1.32, compared to $1.37 in the year-ago quarter.The reported revenue represents a surprise of +5.59% over the Zacks Consensus Estimate of $6.33 billion. With the consensus EPS estimate being -$1.49, the EPS surprise was +11.41%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Gilead Sciences (GILD) came out with a quarterly loss of $1.32 per share versus the Zacks Consensus Estimate of a loss of $1.49. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.41%. A quarter ago, it was expected that this HIV and hepatitis C drugmaker would post earnings of $1.76 per share when it actually produced earnings of $1.72, delivering a surprise of -2.27%.Over the last four quar ...

GILEAD SCIENCES ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS Product Sales Excluding Veklury Increased 6% Year-Over-Year to $6.1 billion Biktarvy Sales Increased 10% Year-Over-Year to $2.9 billion Oncology Sales Increased 18% Year-Over-Year to $789 million Closed CymaBay Acquisition Resulting in $3.9 billion Acquired IPR&D Charge ($3.14 Diluted EPS Impact) Foster City, CA, April 25, 2024 - Gilead Sciences, Inc. (Nasdaq: GILD) announced today its first quarter 2024 results of operations. “Gilead delivered ...