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Gilead to present new antiviral research at IDWeek 2024

Published 2024/10/09, 14:46
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FOSTER CITY, Calif. - Gilead Sciences, Inc. (NASDAQ:GILD) announced its participation in IDWeek 2024, slated for October 16-19, where it will showcase findings from its antiviral research programs. The data include 31 presentations spanning HIV, COVID-19, and viral hepatitis research, with a focus on addressing the needs of diverse populations affected by challenging viruses.

Notably, Gilead will present outcomes from the pivotal Phase 3 PURPOSE 1 and PURPOSE 2 trials of lenacapavir, an injectable HIV-1 capsid inhibitor, for HIV prevention. The trials, unblinded in June and September, respectively, explored lenacapavir's efficacy and safety across a global demographic. Additionally, long-term data on the company's HIV treatment, Biktarvy® (bictegravir/emtricitabine/tenofovir alafenamide), will be discussed, including five-year outcomes for treatment-naïve patients aged 50 or older and Black adults, two groups disproportionately impacted by HIV.

The CAPELLA study's three-year outcomes will also be highlighted, evaluating Sunlenca® (lenacapavir) in combination with an optimized regimen for multi-drug resistant HIV. Moreover, Gilead will address new pre-exposure prophylaxis (PrEP) use in U.S. populations with unmet needs for HIV prevention.

In COVID-19 research, Gilead will present real-world evidence reinforcing Veklury® (remdesivir) as the standard of care for hospitalized COVID-19 patients, including those with blood cancers. The antiviral activity of Veklury against recent Omicron subvariants will also be examined.

Furthermore, investigational obeldesivir's safety and tolerability data from the BIRCH and OAKTREE trials will be shared, supporting its continued evaluation, particularly for Respiratory Syncytial Virus (RSV) treatment in non-hospitalized adults.

Gilead's ongoing commitment to antiviral innovation is evident in its extensive portfolio and pipeline aimed at treating and preventing viral diseases. The company's presence at IDWeek 2024 underscores its dedication to scientific advancements in virology to meet urgent global health needs.

This news summary is based on a press release statement. Gilead's investigational compounds, including GS-1720 and lenacapavir for HIV prevention, as well as obeldesivir, are not yet approved by regulatory authorities. The safety and efficacy of these investigational therapies are currently unknown.

In other recent news, Gilead Sciences' HIV drug lenacapavir has demonstrated a 96% reduction in HIV infections in the Phase 3 PURPOSE 2 trial, outperforming Truvada, a pre-existing medication. In addition, Gilead has entered agreements with six pharmaceutical manufacturers to produce and distribute generic versions of lenacapavir in 120 primarily low- and lower-middle income countries, pending regulatory approval.

In the oncology sector, Gilead's drug Trodelvy could potentially face less competition following AstraZeneca (NASDAQ:AZN)'s failed TROPION-breast-01 study. This development could reinforce Gilead's position in the market.

Furthermore, Gilead reported a 6% year-over-year rise in total product sales, driven by an 8% rise in sales for its HIV treatment, Biktarvy, and a 23% increase for Trodelvy. Investment banking firms such as Mizuho, BMO Capital Markets, Goldman Sachs, and Morgan Stanley have maintained their respective ratings on Gilead.

These are recent developments that highlight Gilead's continued strides in both the HIV treatment and oncology sectors.

InvestingPro Insights

As Gilead Sciences (NASDAQ:GILD) prepares to showcase its antiviral research at IDWeek 2024, investors may find additional context in the company's financial performance and market position. According to InvestingPro data, Gilead boasts a substantial market capitalization of $106.1 billion, reflecting its significant presence in the biotechnology sector.

The company's financial health appears robust, with a revenue of $27.8 billion over the last twelve months as of Q2 2024. Notably, Gilead's gross profit margin stands at an impressive 77.44%, indicating strong pricing power for its innovative treatments. This aligns well with the company's focus on high-value antiviral therapies showcased in the IDWeek presentations.

InvestingPro Tips highlight Gilead's status as a "prominent player in the Biotechnology industry," which is evident from its extensive research portfolio in HIV, COVID-19, and viral hepatitis. The company's commitment to shareholder returns is also noteworthy, with an InvestingPro Tip pointing out that Gilead "has raised its dividend for 9 consecutive years." This consistent dividend growth, coupled with a current dividend yield of 3.61%, may appeal to income-focused investors.

The stock's recent performance has been strong, with a 26.93% price total return over the past three months. This upward momentum could be attributed to investor optimism surrounding Gilead's pipeline developments, particularly the promising results from lenacapavir trials mentioned in the article.

For those interested in a deeper analysis, InvestingPro offers 11 additional tips for Gilead Sciences, providing a more comprehensive view of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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