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.
FOSTER CITY, Calif., February 03, 2023--Gilead Sciences, Inc. (Nasdaq: GILD) today announced the U.S. Food and Drug Administration (FDA) has approved Trodelvy® (sacituzumab govitecan-hziy) for the treatment of adult patients with unresectable locally advanced or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in