Gilead Sciences Inc - GILD STOCK NEWS

Kite, a Gilead Company (Nasdaq: GILD), announced three-year follow-up results from the ZUMA-3 study on Tecartus, a CAR T-cell therapy for relapsed/refractory B-cell acute lymphoblastic leukemia (R/R B-ALL). The study reported a median overall survival of 26 months, with a durable response rate of 71% in adults. Notable findings included an overall complete remission (CR) rate of 56% and a sustained median relapse-free survival of around 11.6 months. Investigators emphasized the potential for Tecartus to establish a new standard of care for this aggressive leukemia, encouraging ongoing research and treatment advancements.

Gilead Sciences focuses on innovative therapies for breast cancer, particularly metastatic HR+/HER2- types, accounting for about 70% of all breast cancer diagnoses globally. The company is advancing a development program to address critical gaps in treatment, including the use of antibody-drug conjugates (ADCs) that target tumor cells. As of 2023, Gilead is running over 50 active or planned cancer clinical trials and aims to gain 10 new indications by 2026. The survival rate for metastatic HR+/HER2- breast cancer is notably low, highlighting the urgency for new treatment options that enhance quality of life while minimizing chemotherapy's side effects.

Gilead Sciences announced FDA approval for Trodelvy (sacituzumab govitecan-hziy) to treat hormone receptor-positive, HER2-negative metastatic breast cancer in patients who have undergone endocrine therapy and at least two chemotherapies. The approval stems from the Phase 3 TROPiCS-02 study, indicating an overall survival benefit of 3.2 months compared to chemotherapy. Trodelvy is now a preferred treatment option as per the NCCN guidelines. The safety profile aligns with previous studies, showing common side effects such as diarrhea and neutropenia, while also maintaining its market potential with ongoing regulatory reviews in over 40 countries.

Gilead Sciences, Inc. (NASDAQ: GILD) has declared a 2.7% increase in its quarterly cash dividend, now set at $0.75 per share. This increase will begin in the first quarter of 2023, with dividends payable on March 30, 2023 to stockholders on record by March 15, 2023. Future dividends are contingent on Board approval. Gilead continues to focus on innovative medicines for serious diseases, including HIV and cancer, operating in over 35 countries globally.

Gilead Sciences (Nasdaq: GILD) reported its fourth quarter and full year 2022 financial results, highlighting an overall revenue increase of 2% to $7.4 billion in Q4. Notable year-over-year sales growth included Oncology sales up 71%, and Biktarvy sales rising 20% to $10.4 billion for the year. However, Veklury sales fell 26% in Q4 and decreased 30% for the year, reflecting reduced COVID-19 hospitalizations. Diluted EPS for Q4 was $1.30, a significant increase from $0.30 in 2021. For 2023, Gilead anticipates total product sales between $26.0 billion and $26.5 billion, with a focus on continued growth in HIV and oncology products.

Gilead Sciences has awarded $5.7 million in grants to 21 U.S. organizations to support efforts aimed at advancing health equity for Black individuals affected by triple-negative breast cancer (TNBC). Recognizing the impact of racism and social determinants of health, these grants focus on enhancing organizational capacity, promoting racial equity, improving communication in care, and providing educational resources for communities. The company's efforts highlight its commitment to addressing disparities in cancer care and fostering equitable health outcomes.

Gilead Sciences (GILD) announced a $7.6 million grant funding initiative under the Toward Health Equity Oncology Grant™ to 24 U.S.-based organizations. This program focuses on addressing health inequity in breast cancer care through evidence-based interventions like patient navigator and cultural competency training. With breast cancer affecting more women in the U.S. than any other cancer (excluding skin cancer), this initiative aims to combat disparities, particularly among people of color. The funding builds on a prior $5.7 million support provided to 21 organizations in 2022, expanding efforts to close gaps in care for historically neglected communities.

On January 29, 2023, Kite, a Gilead company (NASDAQ: GILD), and Arcellx (NASDAQ: ACLX) announced the completion of a global strategic collaboration to co-develop and co-commercialize CART-ddBCMA, a late-stage product candidate for treating relapsed or refractory multiple myeloma. Currently in a Phase 2 pivotal trial, CART-ddBCMA leverages a novel synthetic binder technology. The collaboration will allow Kite to commercialize the therapy outside the U.S., while both companies will advance the asset in the U.S. This partnership aims to address the urgent need for effective therapies in treating multiple myeloma, an incurable cancer for most patients.

Gilead Sciences (NASDAQ: GILD) announced its participation in three upcoming investor conferences. The SVB Securities Global Biopharma Conference will take place on February 14 at 11:20 AM ET. Following this, Gilead will be present at the Cowen Annual Health Care Conference on March 7 at 11:10 AM ET, and the Barclays Global Healthcare Conference on March 15 at 10:15 AM ET. Live webcasts and 30-day replays will be available on the company’s investor page.

Gilead, headquartered in Foster City, California, has been a leader in developing innovative medicines for over three decades.