Gilead Sciences Inc - GILD STOCK NEWS

Gilead Sciences (NASDAQ: GILD) and Vir Biotechnology (NASDAQ: VIR) announced a clinical collaboration to explore new therapeutic combinations for chronic hepatitis B virus (HBV). A Phase 2 trial will evaluate therapies involving Gilead's selgantolimod, VIR's VIR-2218, and a PD-1 antagonist. The study aims to achieve a functional cure, defined by the loss of hepatitis B surface antigen (HBsAg) and HBV DNA. Both firms retain rights to their products and will consider future studies based on Phase 2 results. Current therapies require lifelong treatment for over 290 million HBV patients globally.

Gilead Sciences has revised its full-year 2020 guidance, now projecting product sales between $24.30 billion and $24.35 billion, an increase attributed to higher demand for Veklury due to COVID-19. Non-GAAP diluted EPS is forecasted at $6.98 to $7.08, while GAAP diluted EPS is expected to be between ($0.08) and $0.02. R&D expenses are estimated to grow by around 20%, while SG&A expenses are projected to rise by 10%. The company will discuss results in a conference call following its J.P. Morgan Healthcare Conference on January 11, 2021.

Kite, a Gilead Company (Nasdaq: GILD), has partnered with Oxford BioTherapeutics Ltd. to explore five novel oncology targets for hematologic and solid tumors. OBT will validate these targets using its OGAP® discovery platform and create antibodies, with Kite and Gilead securing exclusive rights for development and commercialization. The partnership involves an upfront payment and potential future milestone payments and royalties. Executives from both companies emphasize the collaboration's potential to enhance cancer therapy outcomes.

Gilead Sciences (Nasdaq: GILD) announced that Daniel O’Day, Chairman and CEO, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 11 at 12:40 p.m. Pacific Time. The live presentation will be accessible via webcast on Gilead's Investors page, with a replay available for 14 days post-event. Gilead Sciences focuses on discovering and commercializing innovative medicines for unmet medical needs, operating in over 35 countries, with headquarters in Foster City, California.

Gilead Sciences (Nasdaq: GILD) presents promising data from the Phase 3 ASCENT trial of Trodelvy for metastatic triple-negative breast cancer (mTNBC) at the 2020 San Antonio Breast Cancer Symposium. Trodelvy, which targets Trop-2, showed high clinical activity in mTNBC patients with poor outcomes, leading Gilead to submit a supplemental Biologics License Application (sBLA) to the FDA for full approval. The trial included over 500 patients, focusing on efficacy and safety, with positive outcomes noted in overall survival and progression-free survival.

Gilead Sciences (GILD) has announced its acquisition of MYR GmbH for approximately €1.15 billion, plus a potential €300 million milestone payment upon FDA approval. This acquisition aims to enhance Gilead's position in treating chronic hepatitis delta virus (HDV) through Hepcludex, a first-in-class therapy conditionally approved in Europe. The deal is expected to accelerate the global launch of Hepcludex, which blocks the entry of HDV into liver cells. Gilead anticipates the transaction will be neutral to non-GAAP EPS for the first two years and moderately accretive thereafter.

Gilead Sciences (Nasdaq: GILD) announced the appointment of Jeffrey A. Bluestone, PhD, to its Board of Directors. Dr. Bluestone, a prominent figure in immunotherapy, serves as CEO of Sonoma Biotherapeutics and is a distinguished professor at UC San Francisco. With over 500 publications, his research has significantly advanced T-cell activation and immune tolerance. His addition to the board aims to bolster Gilead's commitment to delivering innovative medicines, as noted by CEO Daniel O'Day.

Kite, a Gilead Company (GILD), announced positive interim results from the ZUMA-12 study of Yescarta (axicabtagene ciloleucel) for first-line treatment of high-risk large B-cell lymphoma. In the study, 85% of evaluable patients responded, with 74% achieving complete responses after a single Yescarta infusion. With a median follow-up of 9.5 months, safety evaluations indicated 9% experienced Grade 3 or higher cytokine release syndrome, and 25% had neurologic events. These results mark a significant step forward in CAR T therapy for early-stage high-risk patients.

Gilead Sciences announced positive updates from its magrolimab Phase 1b trial for acute myeloid leukemia (AML) patients ineligible for intensive chemotherapy. The combination of magrolimab and azacitidine showed an overall response rate of 63% and 69% for TP53-mutant patients. Complete remission rates were 42% overall and 45% in TP53-mutant patients. Median duration of response was 9.6 months for evaluable patients, and preliminary overall survival was 18.9 months for wild-type and 12.9 months for mutant patients. Adverse events were mostly manageable.