GILD Research | Milton Maxwell

GILD

Gilead Sciences, Inc.

118.78

-1.00-0.84%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Q&A reaffirms launches, adds execution color

2/9/26Feb 9, 2026

Q&A largely reaffirmed prepared remarks and 2026 guidance, adding color on launch execution without contradictions. Management countered conservative YES2GO modeling, citing encouraging early persistency, 90% zero co-pay access, DTC campaign momentum, and account-by-account pull-through despite injectable logistics. Descovy PrEP grows through 2026 before gradual erosion. Cindy emphasized Anidocel's manufacturing superiority—99% reliability, 16-day turnaround—for eventual 4L myeloma leadership in a $3.5B market. Dan stressed pipeline depth curbs BD urgency. No surprises. Watch refill rates and frontline Trodelvy off-label uptake.

Key Stats

Market Cap

147.38B

P/E (TTM)

18.39

Basic EPS (TTM)

6.46

Dividend Yield

0.03%

Recent Filings

10-K

FY2025 results

2/24/26Feb 24, 2026

Gilead Sciences delivered FY2025 total revenues of $29.4B, up 2% y/y, driven by 6% HIV growth to $20.8B—Biktarvy up 7% to $14.3B, Descovy surging 31% to $2.8B—while Liver Disease rose 6% to $3.2B on Livdelzi gains yet Veklury cratered 49% to $911M amid fading COVID. Oncology dipped 2% to $3.2B as Cell Therapy faced headwinds, but Trodelvy climbed 6% to $1.4B; Q4 momentum shone in HIV demand acceleration. Net income hit $8.5B with diluted EPS $6.78, bolstered by $10B operating cash flow, $1.9B buybacks, $4B dividends, and $7.6B cash—debt trimmed to $24.9B. No 2026 guidance disclosed. Wholesaler inventory swings threaten quarterly sales stability.

8-K

Gilead buys Arcellx for $115/share + CVR

2/23/26Feb 23, 2026

Gilead signed a merger agreement on February 22, 2026, to acquire Arcellx via tender offer at $115 cash per share plus $5 CVR tied to $6B anito-cel sales by 2029. Building on their 2022 collaboration, it hands Gilead full control of the BCMA CAR-T for multiple myeloma, with FDA BLA accepted and PDUFA December 23, 2026. Key insiders tender 10.3% shares. Antitrust hurdles loom.

8-K

Gilead Q4 sales up 5%, HIV strong

2/10/26Feb 10, 2026

Gilead reported Q4 revenues up 5% to $7.9B and full-year 2025 product sales up 1% to $28.9B, with ex-Veklury sales rising 4% to $28.0B on 6% HIV growth to $20.8B—Biktarvy hit $14.3B—and 6% Liver Disease gains, despite Veklury's 49% plunge. Non-GAAP EPS climbed to $8.15 from $4.62. HIV dominates. Guides 2026 product sales $29.6B-$30.0B.

8-K

Telman exits Gilead GC role

11/19/25Nov 19, 2025

Gilead Sciences announced on November 19, 2025, that Deborah H. Telman will step down as Executive Vice President, Corporate Affairs and General Counsel effective December 5, 2025, with employment terminating later that month. No successor named yet. Leadership shakeup hits legal team.

10-Q

Q3 FY2025 results

11/7/25Nov 7, 2025

Gilead posted Q3 revenues of $7.8B, up 3% y/y yet flat q/q (derived), driven by HIV strength—Biktarvy +6% y/y—and $400M IP sale boost, while Veklury crashed 60% y/y on fading COVID. Operating income soared to $3.3B from $888M y/y, sans last year's $1.8B IPR&D hit; diluted EPS jumped to $2.43 from $1.00, reconciling to 1.254B shares. Cash fell to $7.3B with $6.7B YTD OCF; total debt $24.9B (senior notes, rates 1.2%-5.6%, revolver free). Strong HIV momentum persists. Patent suits linger.

About

Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis. It also offers Yescarta, Tecartus, and Trodelvy products for the treatment of oncology; Letairis, an oral formulation for the treatment of pulmonary arterial hypertension; and AmBisome, a liposomal formulation for the treatment of serious invasive fungal infections. The company has collaboration agreements with Arcus Biosciences, Inc.; Merck Sharp & Dohme Corp.; Pionyr Immunotherapeutics Inc.; Tizona Therapeutics, Inc.; Galapagos NV; Janssen Sciences Ireland Unlimited Company; Japan Tobacco, Inc.; Dragonfly Therapeutics, Inc.; Arcellx, Inc.; Everest Medicines; Merck & Co, Inc.; Tentarix Biotherapeutics Inc.; Marengo Therapeutics; and Assembly Biosciences, Inc. It also has research collaboration, option, and license agreement with Merus N.V. for the discovery of novel dual tumor-associated antigens (TAA) targeting trispecific antibodies. The company has a collaboration with Terray Therapeutics, Inc. to discover and develop small molecule therapies; and LEO Pharma to develop, manufacture, and commercialize the small molecule oral STAT6 program. The company was incorporated in 1987 and is headquartered in Foster City, California.

CEO

Mr. Daniel P. O'Day

IPO

1/22/1992

Website

https://www.gilead.com

Employees

17,600

Sector

Healthcare

Industry

Drug Manufacturers - General