Gilead Sciences News
3 articles
growth-negative
Stocks to watch next week: BP, Diageo, Disney, Uber and WPP
BP is set to release its second-quarter results amid declining oil and gas prices, with analysts expecting earnings of $1.35 per share and $60 billion in revenue. The company is under pressure due to weak cash flow, rising net debt, and challenges in its transition to cleaner energy sources. Activist investor Elliott has raised concerns over BPs performance, particularly its lagging shareholder returns. Analysts predict a pre-tax profit of $4.6 billion, up from $4.2 billion in Q1, but still below past levels. BPs cash flow and net debt, forecasted to be $24.9 billion by Q1 2025, remain key issues.
growth-positive
Compugen signs cancer drug licensing deal with Gilead Sciences
Gilead Sciences has entered into an agreement with Compugen to exclusively license its pre-clinical antibody program targeting IL-18 binding protein. Gilead will make an immediate payment of $60 million to Compugen, with potential milestone payments up to $890 million, excluding royalties. Compugens COM503 drug candidate aims to inhibit cancer growth by releasing natural IL-18 in the tumor microenvironment. Additionally, Compugen will receive a $10 million milestone payment from AstraZeneca for its ARTEMIDE-Bil01 trial. Compugens share price has surged by 156.33% on Nasdaq, reflecting positive market sentiment. The agreement marks a significant step for Compugen in advancing its cancer immunotherapy pipeline.
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growth-positive
אקזיט ענק בביומד הישראלי: גיליד רוכשת את קייט פארמה ב-11.9 מיליארד דולר
Gilead Sciences, a major American pharmaceutical company, has announced its acquisition of Kite Pharma for $11.9 billion in cash, valuing Kite at $180 per share. Kite Pharma, founded by Prof. Arie Belldegrun in 2009, specializes in CAR immunotherapy treatments targeting immune responses for cancer treatment. The acquisition positions Gilead as a leader in cell therapy, with plans to maintain Kites research and development operations in Santa Monica, California. The deal reflects Gileads commitment to advancing innovative cancer treatments and aligns with Kites mission to revolutionize cancer therapy. Major shareholders of Kite include American funds such as Capital Group, BlackRock, and J.P. Morgan.
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