Gilead Sciences, Inc.'s Stock Analysis

Gilead Sciences Appoints New Senior Vice President of Controllership

Gilead Sciences has appointed Erin Burkhart as Senior Vice President, Controllership, and principal accounting officer, effective September 22, 2025. Burkhart, who is 46 years old, has been with BioMarin Pharmaceutical Inc. as Group Vice President and Chief Accounting Officer since May 2022 and has held various accounting and finance roles at Eli Lilly and Company from 2014 to 2022.

Burkhart will succeed Diane E. Wilfong, who is stepping down from her role as interim Controller and principal accounting officer on the same date. Burkhart is a licensed certified public accountant and holds a Bachelor of Science in Accounting from Butler University.

Aug 14, 2025 16:08:22

Gilead Sciences Reports Second Quarter 2025 Financial Results

Gilead Sciences, Inc. announced its financial results for the second quarter of 2025, reporting total revenue of $7.1 billion, a 2% increase from the same period in 2024. Product sales excluding Veklury rose 4% to $6.9 billion, primarily driven by increased sales in HIV treatments, including Biktarvy and Descovy. The diluted earnings per share increased to $1.56 compared to $1.29 in the previous year, while non-GAAP diluted EPS remained flat at $2.01. As of June 30, 2025, Gilead held $7.1 billion in cash and equivalents, down from $10.0 billion at the end of 2024. The company generated $827 million in operating cash flow during the quarter and paid dividends of $994 million.

In addition to its financial performance, Gilead highlighted significant developments, including the FDA approval of Yeztugo, the first twice-yearly HIV prevention option. The company reported a strategic partnership with the Global Fund to enhance access to HIV prevention in low-income countries. Gilead's total product sales for HIV increased by 7% to $5.1 billion, with Biktarvy sales rising by 9%. However, sales from Veklury decreased by 44% due to lower COVID-19 hospitalization rates. Gilead also announced a new $6 billion stock repurchase program and declared a quarterly dividend of $0.79 per share, payable on September 29, 2025.

Aug 07, 2025 16:26:51

Gilead Sciences Updates Bylaws Affecting Director Nominations

On July 30, 2025, Gilead Sciences, Inc. approved an amendment and restatement of its bylaws, which includes changes to the nomination process for directors and proposal submissions by stockholders. The amendments clarify the disclosure requirements for proposing stockholders and nominees, restrict the number of nominees to the number of directors to be elected, and require compliance with specific regulations under the Securities Exchange Act. Additionally, the bylaw changes reserve the white proxy card for the Company's exclusive use and update provisions related to stockholder meetings and voting rights.

The revised bylaws also introduce provisions for emergency conditions and clarify the procedures for Board meetings and filling vacancies. These changes aim to modernize and enhance the governance framework of Gilead Sciences, aligning the bylaws with recent amendments to Delaware law and ensuring a clearer process for stockholder engagement at meetings.

Aug 04, 2025 16:07:16

Gilead Sciences Reports Q1 2025 Financial Results and Updates

Gilead Sciences, Inc. announced its financial results for the first quarter of 2025, reporting total revenues of $6.7 billion, which remained flat compared to the same period in 2024. Product sales excluding Veklury increased by 4% year-over-year to $6.3 billion, driven primarily by a 7% increase in Biktarvy sales, which reached $3.1 billion. The company reported a diluted earnings per share of $1.04, a significant improvement from a loss of $3.34 in the same quarter last year, largely due to the absence of prior year charges related to acquisitions. Gilead also generated $1.8 billion in operating cash flow and paid dividends totaling $1.0 billion during the quarter.

Key updates included the acceptance of New Drug Application submissions for lenacapavir for HIV prevention, with a PDUFA date set for June 19, 2025. Additionally, Gilead announced positive Phase 3 trial results for Trodelvy in combination with pembrolizumab for breast cancer treatment. The company declared a quarterly dividend of $0.79 per share, payable on June 27, 2025. As of March 31, 2025, Gilead had $7.9 billion in cash and cash equivalents, down from $10.0 billion at the end of 2024.

Apr 24, 2025 16:03:59

Gilead Reports $28.8 Billion Revenue for Full Year 2024

Gilead Sciences reported a total revenue of $28.8 billion for the full year 2024, marking a 6% increase from the previous year. Notable growth was seen in product sales, particularly in HIV and Oncology, with Biktarvy sales rising 13% to $13.4 billion. The company also reported a strong cash position of $10 billion at year-end and generated $3 billion in operating cash flow during the fourth quarter. Additionally, the product gross margin improved to 78.2% for the full year, reflecting operational efficiencies.

Conversely, Gilead's diluted earnings per share (EPS) decreased significantly to $0.38 for the full year 2024, down from $4.50 in 2023, primarily due to a substantial impairment charge related to acquired research and development projects. The sales of Veklury, which had previously contributed significantly to revenue, fell by 53% in the fourth quarter and 18% for the full year, attributed to decreased COVID-19 hospitalizations. Furthermore, research and development expenses increased, reflecting ongoing investments and integration costs from acquisitions.

Feb 11, 2025 16:04:28

Gilead Sciences Issues $3.5 Billion in Senior Notes

Gilead Sciences, Inc. has successfully issued a total of $3.5 billion in Senior Notes, with varying interest rates and maturity dates. The proceeds from this public offering are intended for general corporate purposes, including potential debt repayment, which could enhance the company's financial flexibility. The structured nature of the issuance includes notes due in 2029, 2035, 2054, and 2064, providing the company with long-term financing options.

However, the issuance comes with certain restrictions outlined in the Base Indenture and Tenth Supplemental Indenture. These limitations include constraints on creating secured debt, entering sale and leaseback transactions, and merging or transferring significant assets. Additionally, the company is obligated to offer to repurchase the notes under specific change of control events, which could impact its operational flexibility and financial strategies.

Nov 20, 2024 16:15:36

Gilead Reports $7.5 Billion Revenue in Q3 2024

Gilead Sciences announced a 7% year-over-year increase in total revenue for the third quarter of 2024, reaching $7.5 billion, largely driven by higher product sales in HIV and oncology. Notable sales growth was seen in Biktarvy, with a 13% increase to $3.5 billion, and a 9% rise in Veklury sales to $692 million. The company also generated $4.3 billion in operating cash flow and returned capital to shareholders through dividends and stock repurchases.

However, Gilead experienced a decline in diluted earnings per share, dropping from $1.73 in Q3 2023 to $1.00 in Q3 2024, primarily due to a significant impairment charge of $1.75 billion related to assets acquired from Immunomedics. Additionally, the company's cash reserves decreased from $8.4 billion at the end of 2023 to $5.0 billion by September 30, 2024, reflecting the recent acquisition of CymaBay Therapeutics. Increased R&D and SG&A expenses were also noted, alongside a substantial increase in the effective tax rate.

Nov 06, 2024 16:09:21

Gilead Sciences Reports Strong Q2 2024 Financial Results

Gilead Sciences announced a strong second quarter with a 5% revenue increase to $7 billion. Key product sales grew, particularly in HIV and Oncology, with Biktarvy sales up 8%. Diluted earnings per share rose to $1.29 from $0.83. However, cash reserves dropped significantly due to a major acquisition. Veklury sales fell 16%, reflecting decreased COVID-19 hospitalizations. Overall, Gilead maintains its sales guidance for the year, indicating stability despite some challenges.

Aug 08, 2024 16:06:06

Gilead Sciences Chief Medical Officer to Depart in Early 2025

Gilead Sciences announced Chief Medical Officer Dr. Merdad Parsey will leave the company in early 2025. Dr. Parsey led the growth of the company's clinical development, doubling the portfolio and advancing treatments in virology and oncology. Despite his departure, Gilead expressed gratitude for his contributions and highlighted a strong clinical pipeline with 54 ongoing trials. The company aims to continue its commitment to developing innovative medicines for HIV, COVID-19, and cancer.

Jul 17, 2024 09:01:01

Gilead Sciences Q1 2024 Financial Results Overview

Gilead Sciences reports positive growth in product sales, with notable increases in Biktarvy and Oncology sales. The acquisition of CymaBay resulted in a substantial charge impacting diluted EPS. Cash reserves decreased, while operating cash flow remained strong. Despite challenges in some product sales, the company maintains optimistic outlook for 2024, with unchanged product sales expectations but revised EPS projections. Overall, Gilead's focus on HIV, Oncology, and Liver Disease segments continues to drive revenue growth.

Apr 25, 2024 16:04:55