Gilead Sciences, Inc. (GILD) announces the FDA approval of their first-in-class, Trop-2 directed antibody-drug conjugate, Trodelvy, for the treatment of metastatic HR+/HER2- breast cancer in adult patients.
Shares of Gilead Sciences (NASDAQ: GILD) marched higher on Thursday, Feb. 2 in response to a fourth-quarter earnings report that exceeded expectations. A day later, the U.S. Food and Drug Administration (FDA) agreed to dramatically increase the addressable patient population for an important cancer drug called Trodelvy. Gilead Sciences splashed out with a $21 billion acquisition of Immunomedics in 2020 for access to Trodelvy.
Gilead's (GILD) Q4 earnings and sales beat on strong HIV and oncology business. The guidance for 2023 was also ahead of expectations.