Gilead Sciences is a biopharmaceutical company that focuses on the research, development, and commercialization of innovative therapeutics to address significant unmet medical needs, particularly in the fields of antiviral therapies, oncology, and inflammation. The company is well-known for its advancements in treatments for diseases such as HIV, hepatitis C, and influenza, while also expanding its portfolio to include oncology products and therapies for other serious conditions. Gilead is committed to improving patient outcomes through its cutting-edge science and collaborative efforts, working to develop medicines that have both transformative efficacy and address critical health challenges on a global scale.
Gilead Pharmaceuticals is back to highs not seen in a decade as its HIV treatment franchise surges and awaits its 100% effective HIV prevention drug in summer
Shares of biopharmaceutical company Gilead Sciences (NASDAQGILD)
jumped 8.6% in the morning session after the company reported impressive fourth-quarter results that exceeded analysts' revenue, EPS, and adjusted operating income estimates. Revenue grew 6%, driven by a 16% increase in HIV product sales and supported by strength in oncology and liver disease products. The momentum is expected to continue into the next year, as full-year EPS guidance surpassed Wall Street estimates, while sales guidance was in line. Overall, this was a solid quarter with some key areas of upside.
Investors seem encouraged by the company's strong performance in its core business areas and the promise of further growth driven by its expanding pipeline.
Let's have a look at what is happening on the US markets before the opening bell on Wednesday. Below you can find the top S&P500 gainers and losers in today's pre-market session.
Gilead reported Q4 adjusted EPS of $1.90, exceeding estimates, with HIV sales up 16%. The company raised guidance and expects a key HIV drug launch in 2025.
A hotter-than-expected inflation report initially rattled markets on Wednesday morning, but investors found confidence to buy the dip, helping major indexes recover most losses by midday trading in New York.
