Core Viewpoint - The stock of Gilead Sciences-B (01672) has dropped over 6% following the announcement of a share placement and recent financial results, indicating market concerns about the company's capital raising strategy and performance outlook [1] Group 1: Share Placement - Gilead Sciences plans to place 52.4 million shares at HKD 16.45 each, representing a discount of approximately 9.9% from the previous closing price [1] - The net proceeds from the placement are expected to be HKD 468 million, with about 90% allocated for clinical trials related to subcutaneous and oral peptide candidates for obesity [1] - The controlling shareholder, Wu Jinzi, will sell 52.4 million shares and subsequently subscribe to 28.82 million new shares, resulting in a cash-out of HKD 388 million and a reduction in his ownership from 62.21% to 58.03% [1] Group 2: Financial Performance - Gilead Sciences reported total revenue of RMB 104 million, a year-on-year increase of 111.4% [1] - The company's loss narrowed to RMB 87.95 million, compared to a loss of RMB 130 million in the same period last year [1] - Dongwu Securities noted that Gilead Sciences' pipeline is progressing smoothly, with clear timelines for future clinical data disclosures, potentially increasing the likelihood of successful product launches [1]