Gilead Sciences Stock Earnings Reports

Gilead reported a strong Q3 2025 driven by HIV franchise growth (Biktarvy up 6% YoY, Descovy up 20% YoY) and a breakout quarter for Livdelzi (first quarter >$100M; #1 second‑line PBC in U.S.). New HIV prevention product Yeztugo launched in June and delivered $39M in Q3 ($54M since launch including initial stocking); payer coverage has already reached ~75% in the U.S., ahead of plan. The company raised full‑year HIV revenue growth guidance to ~5% despite an expected ~$900M headwind from Medicare Part D redesign. Oncology progress included ASCENT‑03/04 data supporting potential Trodelvy first‑line metastatic TNBC approvals (targeting 2026), and cell therapy progress (anito‑cel launch target 2026). Financially, non‑GAAP EPS grew 22% YoY (10% ex a $0.25 nonrecurring accounting benefit); Andy Dickinson noted a $400M nonrecurring other revenue item related to an IP asset sale that added about $0.25 EPS this quarter. Updated full‑year outlook: product sales (ex Veklury) $27.4–27.7B, total product sales $28.4–28.7B; non‑GAAP EPS $8.05–8.25. Key near‑term catalysts: ARTISTRY Phase III readouts (BIC/LEN), iMMagine‑1 update (anito‑cel), ASCENT‑07 readout, regulatory decisions for Trodelvy sBLAs and bulevirtide (HDV) in 2026.