GILD

A month has gone by since the last earnings report for Gilead Sciences (GILD). Shares have added about 13.6% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Gilead due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Gilead Sciences, Inc. before we dive into how investors and analysts have reacted as of late. GILD Q2 Earnings Beat on HIV and Trodelvy Growth, Product Sales Outlook Raised Gilead Sciences reported a second-quarter 2026 adjusted loss of $6.75 per share, narrower than the Zacks Consensus Estimate of a loss of $7.07. In the year-ago quarter, GILD posted adjusted earnings of $2.01 per share. The significant decline was due to acquired in-process research and development (IPR&D) expenses related to the acquisitions of Arcellx, Tubulis and Ouro Medicines. Revenues increased 10% year over year to $7.80 billion, which beat the Zacks Consensus Estimate of $7.37 billion. Growth was driven by the HIV portfolio, along with Trodelvy and Livdelzi. Product sales, excluding Veklury, rose 10% to $7.60 billion. GILD's HIV Franchise Drives Growth HIV product sales increased 12% year over year to $5.69 billion, reflecting higher average realized prices and demand. The figure beat the Zacks Consensus Estimate of $5.4 billion and our model estimate of $5.35 billion. Flagship HIV therapy Biktarvy sales rose 7% to $3.80 billion, driven by pricing, favorable inventory dynamics and higher demand. Sales surpassed the Zacks Consensus Estimate of $3.65 billion and our model estimate of $3.72 billion. Biktarvy continues to lead as the regimen of choice for both naive and switch patients across major markets. Descovy sales jumped 48% to $967 million, comfortably exceeding the Zacks Consensus Estimate of $750 million and our model estimate of $701 million. The increase reflected higher demand and realized prices, particularly in HIV prevention. Incremental sales of newly approved Yeztugo (lenacapavir) for pre-exposure prophylaxis (PrEP) also boosted HIV product sales. Yeztugo generated sales of $232 million in the second quarter. Driven by a $4 billion annualized PrEP business and the continued strong performance of Biktarvy, Gilead raised its full-year HIV sales growth guidance to 9-10% from the previous 8% forecast. GILD continues to expect Yeztugo sales of approximately $1 billion in 2026. Gilead's Liver Disease Portfolio Sales Advance Liver Disease portfolio sales increased 10% to $877 million. The figure topped the Zacks Consensus Estimate of $800 million and our model estimate of $787 million. Higher demand for Livdelzi, hepatitis B treatments and Hepcludex more than offset lower hepatitis C product sales. GILD's Cell Therapy Sales Face Pressure Cell Therapy sales declined 14% year over year to $417 million amid continued competitive headwinds. The figure matched the Zacks Consensus Estimate but came below our model estimate of $418.8 million. Yescarta sales decreased 12% to $346 million due to competition. Tecartus sales fell 24% to $70 million because of in-class competition. Gilead now expects full-year Cell Therapy sales to decline by a mid-teens percentage. Trodelvy Boosts GILD’s Q2 Revenues Trodelvy sales increased 26% year over year to $457 million, beating the Zacks Consensus Estimate of $448 million and our model estimate of $427 million. Growth reflected stronger demand across triple-negative and previously treated HR-positive/HER2-negative metastatic breast cancer. The recent first-line metastatic triple-negative breast cancer approvals expand Trodelvy's addressable population. Management said adoption has broadened following regulatory approvals and treatment guideline updates. Gilead's Costs Reflect Acquisition Charges Adjusted product gross margin remained unchanged year over year at 86.9%. Adjusted research and development expenses declined 1% to $1.43 billion, as lower oncology clinical study activity offset costs associated with newly acquired businesses. Adjusted selling, general and administrative expenses increased 12% to $1.52 billion, mainly due to higher HIV promotional spending. Acquired in-process research and development expenses totaled $11.2 billion, primarily related to the Arcellx, Tubulis and Ouro Medicines acquisitions. As of June 30, 2026, Gilead's cash, cash equivalents and marketable debt securities totaled $3.2 billion, down from $10.6 billion as of Dec. 31, 2025. The decline was primarily due to $11.3 billion in acquisition-related cash outflows, $2.8 billion in debt repayments, $2.1 billion in dividend payments and $774 million in share repurchases. These acquisition-related charges were the main reason for the adjusted quarterly loss. Excluding the acquisitions and nonrecurring other revenues, management indicated that adjusted earnings would have been $2.27 per share. GILD Raises 2026 Base Business Outlook Gilead now expects product sales of $30.10-$30.40 billion in 2026, up from the earlier expectation of $30.00-$30.40 billion. Product sales excluding Veklury are projected to be in the band of $29.80-$30.10 billion, up from the previous guidance of $29.40-$29.80 billion. Veklury sales are now expected to be approximately $300 million, down from the earlier forecast of around $600 million, reflecting fewer COVID-19-related hospitalizations. Adjusted loss per share is projected to be between 30 cents and 65 cents compared with the previous loss guidance of 65 cents-$1.05. The improved adjusted earnings outlook reflects stronger base-business sales. Key Pipeline and Regulatory Updates From GILD The FDA accepted Gilead's supplemental new drug application for Yeztugo (lenacapavir) 300 mg tablets as a potential once-weekly oral HIV PrEP regimen, with a target date of Feb. 2, 2027. Gilead and partner Merck reported positive phase III results from the ISLEND-1 and ISLEND-2 studies, demonstrating the potential of the investigational once-weekly oral combination of islatravir and lenacapavir in virologically suppressed adults with HIV. The FDA also granted accelerated approval to Hepcludex for the treatment of chronic hepatitis D virus (HDV) infection in adults without cirrhosis or with compensated cirrhosis, making it the first and only FDA-approved therapy for HDV in the United States. Trodelvy received FDA approval for first-line metastatic triple-negative breast cancer (mTNBC), as a monotherapy for patients who are not candidates for PD-1/PD-L1 inhibitor-based therapy or in combination with Merck’s Keytruda (pembrolizumab) or Keytruda Qlex (pembrolizumab and berahyaluronidase alfa-pmph) for patients whose tumors express PD-L1 (CPS ≥10). The European Commission approved Trodelvy monotherapy for first-line unresectable locally advanced or metastatic TNBC in patients ineligible for PD-1/PD-L1 therapy. However, Gilead and partner Merck announced that the phase III EVOKE-03 study was discontinued. The study was evaluating Trodelvy plus Keytruda in first-line PD-L1-high metastatic non-small cell lung cancer after an independent review found the study was unlikely to meet its efficacy goals. It turns out, estimates review flatlined during the past month. Currently, Gilead has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Gilead has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Gilead belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Bristol Myers Squibb (BMY), has gained 6.3% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Bristol Myers reported revenues of $12.97 billion in the last reported quarter, representing a year-over-year change of +5.7%. EPS of $2.04 for the same period compares with $1.46 a year ago. Bristol Myers is expected to post earnings of $1.68 per share for the current quarter, representing a year-over-year change of +3.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +1%. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Bristol Myers. Also, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Over the last six months, Gilead Sciences’s shares have sunk to $137.77, producing a disappointing 11.3% loss - a stark contrast to the S&P 500’s 13.1% gain. This might have investors contemplating their next move. Is there a buying opportunity in Gilead Sciences, or does it present a risk to your portfolio? Get the full stock story straight from our expert analysts, it’s free. Even with the cheaper entry price, we don’t have much confidence in Gilead Sciences. Here are three reasons why GILD doesn’t excite us, plus one stock we’d rather own. A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Regrettably, Gilead Sciences’s sales grew at a tepid 2.7% compounded annual growth rate over the last five years. This was below our standards. Adjusted operating margin is one of the best measures of profitability because it tells us how much money a company takes home after subtracting all core expenses, like marketing and R&D. It also removes various one-time costs to paint a better picture of normalized profits. Looking at the trend in its profitability, Gilead Sciences’s adjusted operating margin decreased by 34.2 percentage points over the last five years. This raises questions about the company’s expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. Its adjusted operating margin for the trailing 12 months was 9.7%. Analyzing the long-term change in earnings per share (EPS) shows whether a company’s incremental sales were profitable — for example, revenue could be inflated through excessive spending on advertising and promotions. Sadly for Gilead Sciences, its EPS declined by 15.4% annually over the last five years while its revenue grew by 2.7%. This tells us the company became less profitable on a per-share basis as it expanded. Gilead Sciences isn’t a terrible business, but it isn’t one of our picks. Following the recent decline, the stock trades at 14.9× forward P/E (or $137.77 per share). While this valuation is fair, the upside isn’t great compared to the potential downside. We’re pretty confident there are superior stocks to buy right now. Let us point you toward one of our top software and edge computing picks. ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,552% between June 2020 and June 2025). Find your next big winner with StockStory today.

– Expanded ABI-6250 clinical development into cholestatic liver diseases, including primary biliary cholangitis (PBC) and primary sclerosing cholangitis (PSC) – – Completed $115 million gross financing to support advancement of pipeline programs through key development milestones – – GS-1179 (formerly ABI-1179) selected to advance in HSV HPI program, with Phase 2 initiation expected by year-end 2026 – – Cash runway projected into 2029, including first $75 million Gilead collaboration extension payment due in Q4 2026 – SOUTH SAN FRANCISCO, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Assembly Biosciences, Inc. (Nasdaq: ASMB), a biotechnology company developing innovative therapeutics targeting serious viral and liver diseases, today reported financial results for the second quarter ended June 30, 2026, and recent business updates. “During the second quarter, we advanced several important strategic priorities, including expanding ABI-6250 into cholestatic liver diseases and strengthening our balance sheet through a successful financing to support the continued advancement of our pipeline," said Jason Okazaki, chief executive officer and president of Assembly Bio. "We were also pleased to receive Gilead’s clinical development plan for the HSV helicase primase inhibitor program, which includes plans for GS-1179 to advance into a Phase 2 clinical trial by the end of 2026. The plan also contemplates evaluation of GS-1179 across broader prevention settings, including in connection with HIV PrEP, further reinforcing the potential opportunity for this program. We expect to make our determination on whether to opt-in to the U.S. cost and profit share soon after we receive the commercial cost estimates from Gilead, which will complete the opt-in package.” Second Quarter 2026 and Recent Updates Announced expansion of ABI-6250 into cholestatic liver diseases, including PBC and PSC, with a Phase 2 study anticipated to initiate in the first quarter of 2027 Completed $115 million gross financing expected to extend funding beyond planned ABI-6250 Phase 2 studies in hepatitis delta virus (HDV) and cholestatic liver diseases Presented topline Phase 1a data for ABI-6250 at the European Association for the Study of the Liver (EASL) Congress 2026 and participated in several scientific and investor conferences during the quarter Received the clinical development plan from Gilead Sciences, Inc. (Gilead) for the herpes simplex virus (HSV) helicase-primase inhibitor (HPI) program. The plan indicates GS-1179 (formerly ABI-1179) has been selected to advance, with a Phase 2 clinical trial in participants with recurrent genital herpes expected to initiate by the end of 2026. The program is also being considered for possible evaluation as part of a combination strategy with HIV pre-exposure prophylaxis (PrEP). Assembly Bio’s decision to opt in to the 40% U.S. cost-profit share will be made after receipt and review of Gilead’s commercial cost estimates, which will complete the opt-in package. Anticipated Milestones and Events Following receipt of Gilead’s commercial cost estimates for the complete opt-in package for the HSV HPI program, determine by year-end 2026 whether to exercise Assembly Bio’s option to participate in a 40% U.S. cost-profit share in lieu of receiving U.S. milestones and royalties Initiate a Phase 2 clinical study evaluating ABI-6250 in participants with chronic HDV by year-end 2026 Initiate a Phase 2 clinical study evaluating ABI-6250 in participants with cholestatic liver diseases, including PBC and PSC, in the first quarter of 2027 Upcoming Conferences American Chemical Society (ACS) Fall 2026: August 23-27, 2026 – Chicago, Illinois International HBV Meeting: September 6-10, 2026 – Singapore ID Week: October 21-24, 2026 – Washington, D.C. American Association for the Study of Liver Diseases (AASLD): November 5-9, 2026 – Denver, Colorado GS-1179 and ABI-6250 are investigational product candidates that have not been approved anywhere globally, and their safety and efficacy have not been established. GS-1179 is exclusively licensed to Gilead under the collaboration between Assembly Bio and Gilead, and Gilead has the sole right and responsibility for further clinical development and commercialization of the HSV HPI program. Second Quarter 2026 Financial Results Cash, cash equivalents and marketable securities were $320.4 million as of June 30, 2026, compared to $226.6 million as of March 31, 2026. The company’s cash position, including the first $75 million extension fee due from Gilead in the fourth quarter of 2026 following the third anniversary of the collaboration agreement, is projected to fund operations into 2029. Revenue from collaborative research with Gilead was $13.4 million for the three months ended June 30, 2026, compared to $9.6 million for the same period in 2025. The increase reflects the timing of activities performed and progress toward completion of services under the Gilead Collaboration Agreement, and includes a $5.1 million cumulative catch-up adjustment related to updated estimates of future activities under the collaboration. Research and development expenses were $14.9 million for the three months ended June 30, 2026, compared to $16.1 million for the same period in 2025. The decrease was primarily driven by lower external program expenses due to the completion of clinical trials, partially offset by increased research and discovery activities and higher employee-related expenses. General and administrative expenses were $4.8 million for the three months ended June 30, 2026, compared to $4.6 million for the same period in 2025, primarily driven by increased stock-based compensation related to performance-based awards. Net loss attributable to common stockholders was $3.9 million, or $0.20 per basic and diluted share, for the three months ended June 30, 2026, compared to $10.2 million, or $1.33 per basic and diluted share, for the same period in 2025. The lower net loss was driven by increased revenue, lower research and development expenses and higher interest income from a larger cash balance following Assembly Bio’s recent financings. Lower net loss per share also reflects a higher weighted-average share count in 2026. About Assembly Biosciences Assembly Biosciences is a biotechnology company dedicated to the development of innovative small-molecule therapeutics aimed at advancing the treatment paradigm of serious viral and liver diseases and improving the lives of patients worldwide. Led by an accomplished leadership team in antiviral and liver disease drug development, Assembly Bio is committed to improving outcomes for people living with the chronic impacts of herpesvirus, hepatitis delta virus (HDV) infections, cholestatic liver diseases and hepatitis B virus (HBV). For more information, visit assemblybio.com. Forward-Looking StatementsThe information in this press release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to materially differ. These risks and uncertainties include: Assembly Bio’s ability to realize the potential benefits of its collaboration with Gilead, including all financial aspects of the collaboration and equity investments; Assembly Bio’s ability to initiate and complete clinical studies involving its therapeutic product candidates, including studies contemplated by Assembly Bio’s collaboration with Gilead, including studies conducted by Gilead, in the currently anticipated timeframes or at all; safety and efficacy data from clinical or nonclinical studies may not warrant further development of product candidates; clinical and nonclinical data may not differentiate product candidates from other companies’ candidates; Assembly Bio’s ability to maintain financial resources and secure additional funding necessary to continue its research activities, clinical studies, and other business operations; potential effects of changes in government regulation; results of nonclinical studies may not be representative of disease behavior in a clinical setting and may not be predictive of the outcomes of clinical studies; and other risks identified from time to time in Assembly Bio’s reports filed with the U.S. Securities and Exchange Commission (the SEC). You are urged to consider statements that include the words may, will, would, could, should, might, believes, hopes, estimates, projects, potential, expects, plans, anticipates, intends, continues, forecast, designed, goal or the negative of those words or other comparable words to be uncertain and forward-looking. Assembly Bio intends such forward-looking statements to be covered by the safe harbor provisions contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. More information about Assembly Bio’s risks and uncertainties are more fully detailed under the heading “Risk Factors” in Assembly Bio’s filings with the SEC, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Except as required by law, Assembly Bio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts: Investors:Patrick TillMeru Advisors(484) [email protected] Media:Jamie StrachotaSam Brown LLC(703) [email protected]

Gilead Sciences delivered a solid Q2, with year-over-year sales growth led by strong demand in its HIV franchise, particularly Biktarvy and the PrEP segment, as well as advances in oncology and liver disease. Management credited commercial execution and new product launches—including Trodelvy in breast cancer and Livdelzi in liver disease—for boosting results. CEO Daniel O’Day highlighted, “Quarterly PrEP sales doubled year-over-year, exceeding $1 billion for the first time,” underscoring the impact of portfolio expansion. The quarter also saw progress in clinical programs and the closing of strategic acquisitions. Is now the time to buy GILD? Find out in our full research report (it’s free). Revenue: $7.80 billion vs analyst estimates of $7.35 billion (10.2% year-on-year growth, 6.2% beat) Adjusted EPS: -$6.75 vs analyst estimates of -$7.25 (6.9% beat) Adjusted Operating Income: -$7.33 billion vs analyst estimates of -$8.02 billion (-93.9% margin, 8.6% beat) The company slightly lifted its revenue guidance for the full year to $30.25 billion at the midpoint from $30.2 billion Management raised its full-year Adjusted EPS guidance to -$0.48 at the midpoint, a 44.1% increase Operating Margin: -133%, down from 34.9% in the same quarter last year Market Capitalization: $165 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Tyler Van Buren (TD Cowen) asked about Yeztugo’s prescription trends versus external data, and Chief Commercial and Corporate Affairs Officer Johanna Mercier emphasized launch momentum and persistency, declining to comment on third-party data methodologies. Evan Seigerman (BMO Capital Markets) questioned the rationale for both long-acting injectables and once-weekly oral PrEP. Mercier explained these are complementary, expanding patient choice rather than cannibalizing existing products. Geoffrey Meacham (Citibank) probed whether reducing HIV revenue concentration remains a goal. CEO Daniel O’Day reiterated that diversification within virology and into oncology/immunology is a strategic priority, supported by recent pipeline and M&A moves. Brian Abrahams (RBC Capital Markets) sought clarity on regulatory interactions for anito-cel in earlier multiple myeloma lines. Executive Vice President Cindy Perettie indicated ongoing FDA discussions with no major changes in filing requirements. Courtney Breen (Bernstein) asked about Biktarvy’s growth amid U.S. insurance changes. Mercier acknowledged a temporary softness due to ACA subsidy losses, expecting a return to typical growth rates as patient coverage stabilizes. In the coming quarters, our analysts will focus on (1) FDA approval outcomes for BIC/LEN in HIV and anito-cel in multiple myeloma, (2) the pace of integration and clinical progress for assets gained through recent acquisitions, and (3) sustained commercial momentum across new HIV and oncology launches. Execution on these fronts will shape Gilead’s ability to maintain revenue growth and manage margin recovery. Gilead Sciences currently trades at $133.09, down from $135.25 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Tango Therapeutics TNGX incurred a loss of 37 cents per share in the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 31 cents. The company had reported a loss of 35 cents per share in the year-ago quarter. Collaboration revenues were zero compared with $3.2 million a year earlier. Tango shares were down 4.8% on Tuesday, likely due to investor disappointment over the earnings miss. Higher operating expenses weighed on the result. In the absence of a marketed product, Tango has no regular source of income. The company instead reports collaboration revenues periodically, depending on the terms and progress of its collaboration arrangements. All remaining deferred revenues from upfront and research option-extension payments under the Gilead collaboration were recognized during 2025. This followed the truncation of the collaboration agreement, which concluded all research activities. Consequently, Tango recorded no collaboration revenues in the reported quarter. Research and development expenses increased 13% year over year to $37.2 million in the second quarter of 2026. The increase primarily reflected higher spending related to the advancement of the vopimetostat and TNG456 clinical programs. The rise was partly offset by lower spending resulting from Tango's portfolio prioritization efforts. Year to date, TNGX stock has skyrocketed 197.3% compared with the industry’s 5.5% growth. Image Source: Zacks Investment Research General and administrative expenses almost doubled year over year to $22.6 million, mainly due to higher personnel-related costs, including share-based compensation. Vopimetostat is Tango's lead pipeline candidate and an MTAP-selective, once-daily PRMT5 inhibitor. In June, the company reported initial data from a phase I/II study evaluating vopimetostat in combination with Revolution Medicines' RAS(ON) inhibitors daraxonrasib or zoldonrasib in patients with MTAP-deleted, RAS-mutant pancreatic cancer. Per the data readout, the combo achieved a 92% objective response rate and 90% six-month progression-free survival rate in this patient population, with a generally well-tolerated safety profile. The findings strengthened Tango's focus on advancing vopimetostat in pancreatic cancer. The company is working internally and has begun discussions with regulators and Revolution Medicines toward developing a registrational plan and path forward for vopimetostat plus daraxonrasib in MTAP-deleted pancreatic cancer. The design of this impending phase III study of the combo drug in front-line pancreatic cancer is expected to be finalized later in 2026. Beyond pancreatic cancer, Tango expects to disclose phase I/II vopimetostat lung cancer monotherapy data later in 2026. The update is expected to provide another clinical readout for the company's lead PRMT5 program in a different tumor setting. The company also plans to release initial data from an early- to mid-stage study of TNG456 for glioblastoma and other cancers and to initiate a phase I/II study of vopimetostat in combination with Erasca's ERAS-0015 in patients with MTAP-deleted RAS-mutant cancers later in 2026, thereby extending development across its broader oncology pipeline. Tango Therapeutics, Inc. price-consensus-eps-surprise-chart | Tango Therapeutics, Inc. Quote Tango currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech sector are Amarin AMRN, Repligen RGEN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The estimate for Amarin’s 2026 loss per share is currently pegged at 65 cents, while that for 2027 is currently pegged at 51 cents. AMRN shares have gained 2.2% year to date. Amarin’s earnings beat estimates in three of the trailing four quarters and missed on the remaining occasion, delivering an average surprise of 62.27%. Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62 during the same time. RGEN shares have declined 3.2% year to date. Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%. Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 158.4% year to date. Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tango Therapeutics, Inc. (TNGX) : Free Stock Analysis Report Repligen Corporation (RGEN) : Free Stock Analysis Report Amarin Corporation PLC (AMRN) : Free Stock Analysis Report Liquidia Corporation (LQDA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Completed acquisition of Ouro Medicines with Gilead Sciences to advance potential first and best-in-class T-cell engager Forecast at least €1.6B of cash remaining after funding portfolio to first gamgertamig approval Maintain year-end 2026 cash and financial investments balance guidance of ~€2B, and now includes €50M share repurchase Mechelen, Belgium; August 10, 2026, 22.01 CET; regulated information – Lakefront Biotherapeutics NV (Euronext & NASDAQ: LKFT) today announced its half-year 2026 financial results and provided a second quarter and post-period business update. These results are further detailed in the half-year 2026 financial report available on the financial reports section of the corporate website. “In June, we closed our acquisition of Ouro Medicines with Gilead. By combining the strengths of our teams, we expect to accelerate and expand the already rapid development of our lead asset, gamgertamig. To that end, in 2027, we look forward to adding new proof-of-concept basket studies of gamgertamig in additional autoimmune indications. We are pleased with the progress in our ongoing trials in the U.S. and abroad and the emerging clinical data we have seen reflecting durability in the initial data set and consistent responses from the most recent cohorts. We are excited by the potential for gamgertamig to represent an important new immune reset treatment approach for patients across a large number of conditions. We are looking forward to sharing additional data on this potential first-in-class, best-in-class T-cell engager later this year,” said Henry Gosebruch, Chief Executive Officer of Lakefront. Aaron Cox, Chief Financial Officer of Lakefront, added, “We are pleased to maintain our guidance for year-end 2026 cash and financial investments, which remains at approximately €2 billion, despite recently announcing a €50 million share repurchase expected to be completed by year end. Importantly, incremental to funding the portfolio to first approval, we forecast having at least €1.6 billion of dry powder remaining to fund additional strategic transactions and other capital allocation priorities.” Second Quarter 2026 Business Update CORPORATE The Company’s name change to Lakefront Biotherapeutics was effective as of May 8, 2026, and the ticker on Euronext and NASDAQ (ADRs) was changed to LKFT. The Company appointed Eric Hedrick, MD, as Chief Medical Officer. This expanded leadership role supports the Company’s strategic transformation following its acquisition of Ouro Medicines’ operational assets announced on June 4, 2026. Eric reports to Henry Gosebruch, CEO, and joined the Company’s Management Committee. Lakefront announced the initiation of a €50 million share repurchase program on June 9, 2026. Repurchases under the program may be made no later than December 31, 2026. The program was entered into with Morgan Stanley & Co International PLC. The purchased shares are held as treasury shares. As of June 30, 241,904 shares were repurchased at an average price of €25.1261. Paulo Fontoura resigned from the Board of Directors following Sanofi’s announcement of his appointment as Global Head of R&D at Sanofi on June 22, 2026. IMMUNOLOGY PORTFOLIO Lakefront and Gilead Sciences (Gilead) completed the acquisition of Ouro Medicines (Ouro). The companies will collaborate on the development of gamgertamig, a potential first-in-class and best-in-class T-cell engager in autoimmune diseases. Gamgertamig has been granted both Fast Track and Orphan Drug Designation by the U.S. FDA for the treatment of autoimmune hemolytic anemia (AIHA) and immune thrombocytopenia (ITP) and is expected to enter registrational studies in 2027. Ongoing Lakefront-sponsored clinical trials of gamgertamig in autoimmune diseases are actively enrolling, and expansion of the clinical trials program is anticipated in 2027. In addition, Keymed is conducting a number of company-sponsored studies in Greater China with gamgertamig in both malignant and autoimmune indications. At the International Society on Thrombosis and Haemostasias (ISTH) 2026 Congress in Paris, Lakefront presented a poster on the effects of gamgertamig in a patient with active antiphospholipid antibody syndrome and concurrent autoimmune thrombocytopenia (click here to access the poster). Additionally, Lakefront in-licensed a preclinical portfolio of three autoimmune and inflammatory disease programs originally from Ouro with an opt-in for Gilead for a 50/50 profit split post clinical proof-of-concept for $75 million per program. GLPG3667 has completed GALARISSO and GALACELA studies1: ONCOLOGY CAR-T CELL THERAPY UPDATE The Company announced in January 2026 the start of the wind-down of its cell therapy activities. The wind-down remains on schedule and is expected to be substantially completed by the end of the third quarter of 2026. To support long-term patient follow-up, the HESPERIA study continues to monitor safety of all patients treated in the discontinued parent studies; associated spending is expected to remain minimal. Financial Guidance Following the closing of the Ouro transaction and the related impact to cash, the Company expects its year end 2026 cash and financial investments balance to be in the range of €1.975 billion to €2.050 billion. This guidance includes the announced €50 million share buyback program, which was not considered in the previous guidance range. Lakefront forecasts having at least €1.6 billion of its cash remaining for additional strategic transactions and other capital allocation priorities following funding the portfolio to first gamgertamig approval. All figures assume an EUR/USD exchange rate of 1.175, consistent with year-end 2025 and prior guidance. As of June 30, 2026, the EUR/USD exchange rate was 1.1394. These estimates are subject to change and depend on exchange rate fluctuations, and future business development activity. Financial Performance Key figures for the first half-year of 2026 (consolidated)(€ millions, except basic & diluted earnings/loss (-) per share) Details of the financial results for the first half-year of 2026Total operating loss from continuing operations for the first six months of 2026 amounted to €107.2 million, compared to an operating loss of €215.7 million for the first six months of 2025. The operating loss in 2025 was negatively impacted by the executed strategic reorganization announced in January 2025, for €131.6 million. This was mainly reflected in severance costs of €47.5 million, costs for early termination of collaborations of €45.7 million and impairment on fixed assets related to small molecules activities of €12.0 million, professional services costs of €16.6 million, €8.0 million accelerated non-cash cost recognition for subscription right plans and €1.8 million other expenses. Total net revenues amounted to €18.6 million for the first six months of 2026, compared to €140.3 million for the first six months of 2025. For the first six months of 2025, the revenue recognition related to the exclusive access rights granted to Gilead for Lakefront’s drug discovery platform amounted to €115.1 million. The deferred income balance related to the drug discovery platform was fully released in revenue at the end of 2025. We have recognized royalty income from Gilead for Jyseleca® for €4.5 million in the first six months of 2026 (compared to €5.6 million in the same period last year). Cost of sales amounted to €13.9 million for the first six months of 2026, compared to €18.4 million for the first six months of 2025, and related to the supply of Jyseleca® to Alfasigma under the transition agreement. The related revenues are reported in total net revenues. R&D expenses amounted to €56.5 million for the first six months of 2026, compared to €278.0 million for the first six months of 2025. In the first six months of 2025, the Company recorded increased personnel expenses (mainly related to severance costs), an impairment on fixed assets (related to small molecules programs) and a provision for early termination of collaboration agreements. Also, due to the wind-down of the cell therapy activities, the spending in the cell therapy programs decreased in the first six months of 2026 as compared to the first six months of 2025. G&A and S&M expenses amounted to €58.0 million for the first six months of 2026, compared to €74.5 million for the first six months of 2025. This decrease was mainly due to lower personnel costs (primarily severance costs). Other operating income amounted to €2.6 million for the first six months of 2026, compared to €14.9 million for the first six months of 2025, mainly driven by lower R&D incentives income. Net financial income amounted to €123.2 million for the first six months of 2026, compared to net financial loss of €45.0 million for the first six months of 2025. Fair value adjustments and net currency exchange results amounted to a positive amount of €97.1 million for the first six months of 2026, compared to a negative amount of €66.2 million for the first six months of 2025, and were primarily attributable to €52.4 million of positive changes in fair value of financial investments and €38.8 million of unrealized currency exchange gains on Lakefront’s cash and cash equivalents and financial investments at amortized cost in U.S. dollars. Net other financial income amounted to €26.1 million for the first six months of 2026, compared to net other financial income of €21.2 million for the first six months of 2025. Net interest income amounted to €24.9 million for the first six months of 2026, compared to €21.5 million of net interest income for the first six months of 2025. Fair value gains and interest income derived from cash, cash equivalents and financial investments excluding any currency exchange results amounted to €48.6 million for the first six months of 2026 (compared to €49.7 million for the same period last year). The Company reported a net profit from continuing operations of €15.8 million for the first six months of 2026, compared to a net loss from its continuing operations of €259.0 million for the first six months of 2025. Net profit from discontinued operations related to Jyseleca® amounted to €0.8 million for the first six months of 2026, compared to net loss amounting to €0.1 million for the first six months of 2025. Lakefront reported a net profit of €16.6 million for the first six months of 2026, compared to a net loss of €259.1 million for the first six months of 2025. Cash positionFinancial investments and cash and cash equivalents totaled €2,239.5 million on June 30, 2026, as compared to €2,998.0 million on December 31, 2025. The cash and cash equivalents and financial investments included $1,962.2 million held in U.S. dollars ($2,159.0 million on December 31, 2025) which could generate foreign exchange gains or losses in the financial results in accordance with the fluctuation of the EUR/U.S. dollar exchange rate as the Lakefront’s functional currency is EUR (translated at a rate of 1.1394 €/$ at June 30, 2026). Total net decrease in cash and cash equivalents and financial investments amounted to €758.5 million during the first six months of 2026, compared to a net decrease of €226.3 million during the first six months of 2025. This net decrease was composed of (i) €63.6 million of operational cash burniii, which includes cash in of €78.4 million related to the return on financial investments, (ii) €38.5 million of positive exchange rate differences, changes in fair value of current financial investments, variation in accrued interest income, (iii) €1.1 million acquisition of equity investments, (iv) €4.1 million of net cash in related to the sale of subsidiaries, (v) €2.9 million purchase of own shares and (vi) €733.5 million cash out related to the purchase of Ouro Medicines. About Lakefront® BiotherapeuticsLakefront Biotherapeutics (formerly known as Galapagos) is a biotechnology company dedicated to building a differentiated pipeline of medicines for patients with serious diseases in areas of high unmet need. The Company has established a clinical-stage portfolio in immunology and inflammation, anchored by gamgertamig, a potential first-in-class and best-in-class BCMAxCD3 T-cell engager for autoimmune diseases. Backed by deep deal-making expertise, operational flexibility, and a strong capital position, Lakefront identifies, acquires, and advances high-quality assets with clear potential to deliver meaningful patient impact and long-term shareholder value. For more information, visit https://www.lakefrontbio.com or follow us on LinkedIn or X. For further information, contact Lakefront Biotherapeutics:Investor Relations Sherri Spear+1 412 522 [email protected] Forward-looking statementsThis press release contains forward-looking statements, all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “upcoming,” “future,” “estimate,” “may,” “will,” “could,” “would,” “potential,” “forward,” “goal,” “next,” “continue,” “should,” “encouraging,” “aim,” “progress,” “remain,” “explore,” “further” as well as similar expressions. These statements include, but are not limited to, statements regarding our business development strategy, including the collaboration agreement between Gilead Sciences (Gilead) and us and the expected benefits of such collaboration, including the expected benefits from our collaboration with respect to Ouro Medicines (Ouro or Ouro Medicines); statements regarding our corporate transformation, including the changes to our board of directors and management; statements regarding our business and financial condition, including our cash position, the rate and timing of our cash burn, and the proposed uses and allocations of our capital resources; statements regarding the wind down of our cell therapy activities, including regarding the timing and completion thereof; statements regarding the potential attributes and benefits of gamgertamig and our other current and future product candidates, our ability to advance such product candidates into, and successfully complete, clinical trials, and our commercialization efforts for such product candidates and our future approved products, if any. We caution the reader that forward-looking statements are based on our management’s current expectations and beliefs and are not guarantees of future performance. Forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause actual events, financial condition and liquidity, performance or achievements, or the industry in which we operate, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. In addition, even if our results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Such risks include, but are not limited to, the risk that we are not able to realize the benefits of our collaboration with Gilead, including with respect to Ouro; the risk that our financial estimates may be incorrect (including because one or more of its assumptions underlying our revenue or expense expectations may not be realized); the risk that we will not be able to execute on our currently contemplated business plan or strategy and/or will revise our business plan or strategy; risks related to our ability to successfully identify, pursue and consummate new transformational business development transactions, including our ability to identify product candidates that will have commercial success and/or be profitable; the risk that the commercial potential of gamgertamig or our other current and product candidates proves to be inaccurate; the impact of this press release on our business relationships, employee retention and hiring, and stock price; the inherent risks and uncertainties associated with competitive developments, clinical trials, recruitment of patients, product development activities and regulatory approval requirements; risks related to our reliance on collaborations with third parties (including, but not limited to, our collaboration partner Gilead); risks associated with our ability to advance product candidates into, and successfully complete, clinical trials, including the inherent uncertainties associated with competitive developments, clinical trial and product development activities, and regulatory approval requirements (including the possibility of unfavorable new clinical data and further analyses of existing clinical data, the risks related to clinical failure at any stage of clinical development); and the risk that our estimates regarding the commercial potential of our product candidates (if approved) or expectations regarding the costs and revenues associated with the commercialization rights may be inaccurate. A further list and description of these risks, uncertainties and other risks can be found in our filings and reports with the Securities and Exchange Commission (SEC), including in our most recent annual report on Form 20‐F filed with the SEC and our subsequent filings and reports filed with the SEC. Given these risks and uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. In addition, even if the result of our operations, financial condition and liquidity, or the industry in which we operate, are consistent with such forward-looking statements, they may not be predictive of results, performance or achievements in future periods. These forward-looking statements speak only as of the date of publication of this press release. We expressly disclaim any obligation to update any such forward-looking statements in this press release to reflect any change in our expectations or any change in events, conditions or circumstances, unless specifically required by law or regulation. Lakefront Biotherapeutics NV was formerly known as Galapagos NV. Throughout this press release, we refer to the company as “Lakefront Biotherapeutics,” “LKFT,” "Lakefront" or “Lakefront Bio.” 1 Galapagos Announces Topline Results from Two Phase 3-Enabling Studies with Selective TYK2 Inhibitor GLPG3667 in Dermatomyositis and Systemic Lupus Erythematosus - Lakefront Biotherapeutics i General and administrativeii Sales and marketingiii The operational cash burn (or operational cash flow if this liquidity measure is positive) is equal to the increase or decrease in the cash and cash equivalents (excluding the effect of exchange rate differences on cash and cash equivalents), minus: the net proceeds, if any, from share capital and share premium increases included in the net cash flows generated from/used in (-) financing activities the net proceeds or cash used, if any, related to the acquisitions or disposals of businesses; the acquisition of financial assets held at fair value through other comprehensive income; the movement in restricted cash and movement in financial investments, if any, the cash advances and loans given to third parties, if any, included in the net cash flows generated from/used in (-) investing activities the cash used for other liabilities related to the acquisition or disposal of businesses, if any, included in the net cash flows generated from/used in (-) operating activities. The cash used for the purchase of own shares. This alternative liquidity measure is in the view of the Company an important metric for a biotech company in the development stage. The operational cash burn for the six months ended June 30, 2026, amounted to €63.6 million and can be reconciled to the cash flow statement by considering the increase in cash and cash equivalents of €41.6 million, adjusted by (i) the net sale of financial investments amounting to €838.6 million, (ii) the cash-in related to the sale of subsidiaries of €4.1 million, (iii) the acquisition of equity investments of €1.1 million, (iv) the purchase of own shares of €2.9 million, and (v) the cash out from acquisition of Ouro Medicines of €733.5 million. Attachment Q2 2026 EPS PR_EN FINAL

Gilead Sciences, Inc. GILD used its second-quarter 2026 call to emphasize stronger base-business growth, led by HIV, PrEP, Trodelvy and Livdelzi, while outlining a busy second-half launch calendar. Non-GAAP loss per share was $6.75, better than the Zacks Consensus Estimate for a loss of $7.07. Revenues of $7.8 billion also topped the $7.37 billion consensus and increased 10% year over year. Gilead Sciences, Inc. price-consensus-eps-surprise-chart | Gilead Sciences, Inc. Quote Executive vice president and chief financial officer Andrew Dickinson said GILD now expects 2026 product sales excluding Veklury of $29.8 billion to $30.1 billion, up $350 million at the midpoint from May guidance. Dickinson said full-year HIV sales are now expected to rise 9% to 10% compared with the prior 8% outlook, reflecting strength in Biktarvy, Yeztugo and Descovy. Moreover, Dickinson raised the lower end of total product sales guidance to $30.1 billion, leaving the high end at $30.4 billion. Veklury expectations fell to approximately $300 million from about $600 million. Chairman and chief executive officer Daniel O'Day said HIV sales increased 12% and quarterly PrEP sales exceeded $1 billion for the first time, putting the prevention business at a $4 billion annual run rate. Chief commercial and corporate affairs officer Johanna Mercier said Biktarvy sales rose 7% to $3.8 billion, while Yeztugo generated $232 million. Gilead maintained its approximately $1 billion full-year Yeztugo sales target. Mercier also said more than 70% of Yeztugo users returned for reinjection at six months. She expects HIV treatment market growth to return to its typical 2% to 3% annual rate after softer second-quarter trends. O'Day said Trodelvy sales rose 26% year over year, supported by breast cancer demand and new first-line metastatic triple-negative breast cancer approvals. Mercier said cell therapy sales declined 14% amid ongoing competitive pressure, while launch preparations are underway for anito-cel ahead of its Dec. 23 regulatory decision. Chief medical officer Dietmar Berger highlighted GS-8824 data in platinum-resistant ovarian cancer, including a 61% confirmed objective response rate and 11-month median progression-free survival across select doses. Registrational development could begin as early as 2027. A BMO Capital Markets analyst asked whether development of once-weekly oral PrEP reflected weaker enthusiasm for twice-yearly injections. Mercier said the strategy instead addresses patients who prefer oral therapy. Mercier noted that roughly 80% to 85% of the market remains on daily oral options. She described weekly oral lenacapavir as complementary to Yeztugo rather than a substitute. A Citigroup analyst asked whether reducing HIV concentration remains a long-term objective. O'Day replied that diversification remains a goal both within virology and through expansion in oncology and immunology. Dickinson said Gilead does not currently anticipate additional sizable M&A in 2026 after completing the Arcellx, Tubulis and Ouro Medicines acquisitions. Dickinson also said near-term priorities center on integrating the acquired programs and platforms. Acquired IPR&D expenses totaled $11.2 billion in the second quarter, primarily reflecting the three transactions. Dickinson added that GILD returned nearly $1.4 billion to shareholders during the quarter, including $355 million of share repurchases, while operating cash flow totaled $3.6 billion. O'Day said the second half could bring two additional commercial launches, BIC/LEN in HIV treatment and anito-cel in multiple myeloma, alongside continued clinical execution. Management's focus coming out of the call centers on sustaining base-business growth, integrating recent acquisitions and advancing a broader pipeline across HIV, oncology and inflammation. GILD carries a Zacks Rank #3 (Hold), with a Value Score of C, Growth Score of C, Momentum Score of A and VGM Score of B. The Style Score framework places A and B grades above C, making momentum the strongest individual style signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The Zacks framework treats the Rank as the primary short-term indicator, while Style Scores complement it over a similar one-to-three-month horizon. The Zacks Rank can change as analysts revise earnings estimates following the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Kymera Therapeutics, Inc. KYMR reported a second-quarter 2026 loss of 62 cents per share, narrower than the Zacks Consensus Estimate of a loss of 64 cents. The company posted a loss of 95 cents in the year-ago period. Revenues surged to $65 million from $11.5 million in the year-ago quarter and surpassed the Zacks Consensus Estimate of $39 million. Year to date, shares of KYMR have surged 35.6% compared to the industry’s 2.6% gain. Image Source: Zacks Investment Research All second-quarter revenues came from collaboration agreements. Kymera recognized a $45 million option exercise fee related to Gilead Sciences, Inc.’s GILD exclusive license for KT-200, its oral CDK2 molecular glue degrader candidate. The company also recorded a $20 million milestone payment after Sanofi SNY initiated a phase I study of KT-485, an oral, potent and selective second generation IRAK4 degrader, in adult healthy volunteers and hidradenitis suppurativa patients. Management said all deferred revenues have now been recognized. Consequently, Kymera does not expect additional revenues in 2026. Future collaboration revenues will depend on milestones achieved under the Gilead or Sanofi agreements in 2027 and beyond. Research and development expenses increased 52.4% year over year to $119.48 million. The increase reflected higher investments in the STAT6 program, platform and discovery programs, along with continued expansion of the R&D organization. R&D expenses included $10.4 million of stock-based compensation. Excluding that noncash expense, adjusted cash R&D spending was $109.1 million. General and administrative expenses rose 19.7% to $21.13 million. The increase was driven by higher legal and professional service costs, personnel expenses and facility-related spending. Cash, cash equivalents and marketable securities totaled $1.50 billion as of June 30, 2026, compared with $1.62 billion at the end of 2025. Management maintained its expectation that available capital will fund operations into 2029. The runway is expected to support completion of KT-621’s phase IIb studies in atopic dermatitis and asthma, as well as KT-579’s planned lupus proof-of-concept program. Kymera also expects to fund the initial stages of a phase III asthma study and most of the planned phase III atopic dermatitis study for KT-621. KT-621, an investigational once-daily oral STAT6 degrader, is being developed for type II inflammatory diseases. Kymera completed enrollment in the BROADEN2 phase IIb study of KT-621 in moderate-to-severe atopic dermatitis (AD) nearly six months ahead of schedule. Top-line data are now expected by year-end 2026, six months earlier than the company’s previous target. Subject to regulatory discussions, phase III studies in atopic dermatitis are planned to begin by mid-2027. The trial is evaluating three doses of the once-daily oral STAT6 degrader against placebo. Its primary endpoint is the percentage change from baseline in the Eczema Area and Severity Index score at week 16. Enrollment is also underway in the BREADTH phase IIb study in patients with moderate-to-severe eosinophilic asthma. Kymera continues to expect top-line data in late 2027 and has initiated an open-label extension that permits eligible participants to receive KT-621 for up to 52 additional weeks. Beyond STAT6, Kymera is progressing KT-579, a first-in-class oral degrader of IRF5, a transcription factor positioned as a master regulator across autoimmune diseases. Enrollment is ongoing in the phase I study of KT-579 in healthy volunteers, with data expected in the fourth quarter of 2026. The study is assessing whether the oral IRF5 degrader can achieve more than 90% degradation in blood while maintaining a favorable safety profile. Kymera plans to initiate a proof-of-concept study in lupus patients soon after completing the healthy-volunteer trial. Sanofi initiated the first-in-human phase I study evaluating KT-485 (SAR447971) in adult healthy volunteers and hidradenitis suppurativa patients. KT-485 has the potential to offer a novel oral approach for a variety of chronic immuno-inflammatory diseases.  Under the agreement, Sanofi is responsible for the program's development, regulatory and commercialization activities. In April 2026, Gilead Sciences exercised its option to exclusively license KT-200, Kymera's first-in-class oral CDK2 molecular glue degrader, triggering a $45 million milestone payment. KT-200 is being developed for breast cancer and other solid tumors and has the potential to improve the current standard of care. Gilead plans to advance the candidate into IND-enabling studies, with an IND filing targeted for 2027. Kymera put up an impressive performance in the second quarter. The pipeline progress is encouraging. R&D expenses continue to increase as the company advances its pipeline. Kymera Therapeutics, Inc. price-consensus-eps-surprise-chart | Kymera Therapeutics, Inc. Quote The investment thesis centers on pipeline execution in targeted protein degradation, led by KT-621 in phase II for AD and asthma. Additional positive pipeline updates on KT-621 will be a boost for the stock. The pipeline offers additional opportunities beyond KT-621. Phase I data for the IRF5 degrader KT-579 is expected in the fourth quarter of 2026, followed by a planned proof-of-concept study in lupus. Partnered programs with GILD and SNY also reduce some development burden while generating milestone-based revenues. Kymera’s strong cash balance supports pipeline development and limits near-term financing pressure, although spending will increase as the company expands its clinical and commercial infrastructure. Kymera Therapeutics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kymera Therapeutics, Inc. (KYMR) : Free Stock Analysis Report Sanofi (SNY) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Product Sales Excluding Veklury Increased 10% Year-Over-Year to $7.6 billion Biktarvy Sales Increased 7% Year-Over-Year to $3.8 billion Diluted Loss Per Share was $(8.45) and Non-GAAP Diluted Loss Per Share was $(6.75) Reflecting $(9.08) Per Share Acquired IPR&D and Tax Expenses Associated with Recent Acquisitions FOSTER CITY, Calif., August 05, 2026--(BUSINESS WIRE)--Please replace the release with the following corrected version due to a change in the "PRODUCT SALES SUMMARY" table, where the Odefsey sales in Europe have been updated to $58 million for the three months ended June 30, 2026 (instead of $28 million). The updated release reads: GILEAD SCIENCES ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS Product Sales Excluding Veklury Increased 10% Year-Over-Year to $7.6 billion Biktarvy Sales Increased 7% Year-Over-Year to $3.8 billion Diluted Loss Per Share was $(8.45) and Non-GAAP Diluted Loss Per Share was $(6.75) Reflecting $(9.08) Per Share Acquired IPR&D and Tax Expenses Associated with Recent Acquisitions Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the second quarter 2026. "Gilead delivered a very strong second quarter, with 10% year-over-year revenue growth in our base business driven by our HIV portfolio, Trodelvy and Livdelzi. HIV sales grew 12%, reflecting continued strength in treatment and the rapid expansion of our PrEP business, supporting an increase in our base business revenue expectations for 2026," said Daniel O’Day, Gilead’s Chairman and Chief Executive Officer. "We also made significant clinical progress with three FDA approvals and three positive Phase 3 updates. We look forward to delivering on our many opportunities in the second half of the year including another two potential launches in oncology and HIV." Second Quarter 2026 Financial Results Total second quarter 2026 revenues increased 10% to $7.8 billion compared to the same period in 2025, primarily driven by: Diluted (loss) earnings per share ("EPS") was $(8.45) in the second quarter 2026 compared to $1.56 in the same period in 2025. The decrease was primarily driven by the $(9.08) per share impact of acquired in-process research and development ("IPR&D") expenses associated with our acquisitions of Arcellx, Inc. ("Arcellx"), Tubulis GmbH ("Tubulis") and Ouro Medicines, LLC ("Ouro Medicines"), net of the impact of our collaboration with Lakefront Biotherapeutics NV ("Lakefront") and the related taxes, as well as an IPR&D impairment related to assets previously acquired from Immunomedics, Inc. ("Immunomedics") and higher operating expenses. The decrease was partially offset by higher revenues, lower income tax expense, and higher net gains from equity securities. Non-GAAP diluted (loss) EPS was $(6.75) in the second quarter 2026 compared to $2.01 in the same period in 2025. The decrease was primarily driven by the $(9.08) per share impact of acquired IPR&D and tax expenses discussed above, as well as higher non-GAAP selling, general and administrative ("SG&A") expenses and non-GAAP income tax expense, partially offset by higher revenues. As of June 30, 2026, Gilead had $3.2 billion of cash, cash equivalents and marketable debt securities compared to $10.6 billion as of December 31, 2025. The decrease was primarily driven by year-to-date cash outflows of $11.3 billion related to acquisitions, $2.8 billion of debt repayments, $2.1 billion of dividend payments and $774 million of common stock repurchases, partially offset by $4.1 billion of net proceeds from debt financing and $6.1 billion of operating cash flow. During the second quarter 2026, Gilead generated $3.6 billion in operating cash flow. During the second quarter 2026, Gilead paid dividends of $1.0 billion and repurchased $355 million of common stock. Second Quarter 2026 Product Sales Total second quarter 2026 product sales increased 8% to $7.6 billion compared to the same period in 2025. Total second quarter 2026 product sales excluding Veklury increased 10% to $7.6 billion compared to the same period in 2025, primarily due to higher sales of HIV products, Trodelvy and Livdelzi, partially offset by lower sales of Cell Therapy and HCV products. HIV product sales increased 12% to $5.7 billion in the second quarter 2026 compared to the same period in 2025, primarily driven by higher average realized price and demand. Biktarvy® (bictegravir 50mg/emtricitabine ("FTC") 200mg/tenofovir alafenamide ("TAF") 25mg) sales increased 7% to $3.8 billion in the second quarter 2026 compared to the same period in 2025, primarily driven by higher average realized price, favorable inventory dynamics and higher demand. Descovy® (FTC 200mg/TAF 25mg) sales increased 48% to $967 million in the second quarter 2026 compared to the same period in 2025, primarily driven by higher average realized price and demand. The Liver Disease portfolio sales increased 10% to $877 million in the second quarter 2026 compared to the same period in 2025, primarily reflecting higher demand for Livdelzi, as well as chronic hepatitis B virus ("HBV") products and Hepcludex® (bulevirtide-gmod), partially offset by lower sales for HCV products. Veklury sales decreased 81% to $23 million in the second quarter 2026 compared to the same period in 2025, primarily driven by lower rates of COVID-19-related hospitalizations. Cell Therapy product sales decreased 14% to $417 million in the second quarter 2026 compared to the same period in 2025, reflecting ongoing competitive headwinds. Yescarta® (axicabtagene ciloleucel) sales decreased 12% to $346 million in the second quarter 2026 compared to the same period in 2025, primarily driven by in- and out-of-class competition. Tecartus® (brexucabtagene autoleucel) sales decreased 24% to $70 million in the second quarter 2026 compared to the same period in 2025, primarily driven by in-class competition. Trodelvy® (sacituzumab govitecan-hziy) sales increased 26% to $457 million in the second quarter 2026 compared to the same period in 2025, primarily driven by higher demand. Second Quarter 2026 Product Gross Margin, Operating Expenses and Effective Tax Rate Product gross margin remained relatively flat at 79.3% in the second quarter 2026 compared to 78.7% in the same period in 2025. Non-GAAP product gross margin also remained flat at 86.9% in the second quarter 2026 compared to the same period in 2025. Research and development ("R&D") expenses were $1.8 billion in the second quarter 2026 compared to $1.5 billion in the same period in 2025, primarily due to integration costs and other acquisition-related expenses, partially offset by lower oncology clinical study activity. Non-GAAP R&D expenses were $1.4 billion in the second quarter 2026 compared to $1.5 billion in the same period in 2025, primarily driven by lower oncology clinical study activity. Acquired IPR&D expenses were $11.2 billion in the second quarter 2026, primarily related to $7.0 billion for the Arcellx acquisition, $3.1 billion for the Tubulis acquisition and $1.0 billion for the Ouro Medicines acquisition, net of the impact of the Lakefront collaboration. SG&A expenses were $1.9 billion in the second quarter 2026 compared to $1.4 billion in the same period in 2025, primarily driven by integration costs related to the acquisitions and higher HIV promotional activities. Non-GAAP SG&A expenses were $1.5 billion in the second quarter 2026 compared to $1.4 billion in the same period in 2025, primarily due to higher HIV promotional activities. The effective tax rate ("ETR") was (2.4)% in the second quarter 2026 compared to 19.3% in the same period in 2025. The non-GAAP ETR was (11.4)% in the second quarter 2026 compared to 18.8% in the same period in 2025. These changes primarily reflect the non-deductible acquired IPR&D expenses related to our acquisitions of Arcellx, Tubulis, and Ouro Medicines. Guidance and Outlook For the full year 2026, Gilead now expects: Our full year 2026 GAAP and non-GAAP diluted loss per share guidance includes the impact of approximately $9.08 due to acquired IPR&D charges of $11.1 billion related to the Arcellx, Tubulis and Ouro Medicines transactions, net of the impact of the Lakefront collaboration and related taxes. Additional information and a reconciliation between GAAP and non-GAAP financial information for the 2026 guidance is provided in the accompanying tables. The financial guidance is subject to a number of risks and uncertainties. See the Forward-Looking Statements section below. Key Updates Since Our Last Quarterly Release Virology Announced U.S. Food and Drug Administration ("FDA") accepted a supplemental New Drug Application submission for Yeztugo® (lenacapavir) 300-mg tablets as a potential once-weekly oral formulation for HIV pre-exposure prophylaxis ("PrEP"), with a Prescription Drug User Fee Act target action date of February 2, 2027. Announced positive Phase 3 results from the ISLEND-1 and ISLEND-2 trials, in partnership with Merck, evaluating an investigational long-acting oral treatment regimen of islatravir 2 mg and lenacapavir 300 mg in adults with HIV who are virologically suppressed and switched from Biktarvy (ISLEND-1) or standard of care antiretroviral regimens (ISLEND-2) to the once-weekly combination. Received FDA accelerated approval for Hepcludex for the treatment of chronic hepatitis delta virus ("HDV") infection in adults without cirrhosis or with compensated cirrhosis, which is now the first and only FDA-approved treatment for HDV in the U.S. Announced a donation of 2,000 vials of remdesivir to the Republic of Uganda to support response efforts to the current outbreak of Ebola Bundibugyo virus disease ("BVD"). Remdesivir is not approved for the treatment of Ebola virus disease, including BVD, anywhere globally, and the safety and efficacy of this use is not known. Oncology Received FDA approval of Trodelvy for the first-line ("1L") treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer ("mTNBC") as either a single agent for patients who are not candidates for PD-1/PD-L1 inhibitor-based therapy or in combination with Keytruda® (pembrolizumab) or Keytruda Qlex™ (pembrolizumab and berahyaluronidase alfa-pmph) for patients whose tumors express PD-L1 (CPS ≥10). Announced European Commission marketing authorization for Trodelvy as a monotherapy for the treatment of adult patients with unresectable locally advanced or mTNBC who have not received prior systemic therapy for metastatic disease and are not candidates for PD-1/PD-L1 inhibitor therapy. Received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for Trodelvy in combination with Keytruda® (pembrolizumab) for the treatment of adult patients with unresectable locally advanced or mTNBC who have not received prior systemic therapy for metastatic disease and whose tumors express PD-L1 (CPS≥10). Announced the discontinuation of the Phase 3 EVOKE-03 study, in partnership with Merck, evaluating Trodelvy in combination with Keytruda® for the investigational treatment of 1L metastatic non-small cell lung cancer with high PD-L1 expression (TPS ≥50%). The decision was based on the recommendation of the external Data Monitoring Committee, following review of data from a pre-specified final analysis of progression-free survival and interim analysis of overall survival. Presented new analyses at the 2026 American Society of Clinical Oncology meeting from the Phase 3 ASCENT-03 and ASCENT-04 studies evaluating Trodelvy with or without Keytruda® in 1L mTNBC, as well as new data on investigational anitocabtagene-autoleucel ("anito-cel") clinical trial manufacturing experience in patients with newly diagnosed or relapsed/refractory multiple myeloma. Presented updated Phase 1 results for KITE-753, an investigational bicistronic autologous CD19/CD20 CAR T-cell therapy for relapsed or refractory B-cell lymphoma at the 2026 European Hematology Association meeting. Completed the acquisition of Tubulis for $3.15 billion in upfront consideration. This acquisition brings Gilead next-generation antibody-drug conjugate ("ADC") assets, including GS-8824, a NaPi2b-directed topoisomerase-I inhibitor ADC, and a platform to develop novel ADCs. Inflammation Completed the acquisition of Ouro Medicines for $1.675 billion in upfront consideration, which brings Gilead gamgertamig, an investigational clinical stage BCMAxCD3 T cell engager for autoimmune diseases. The acquisition was completed in collaboration with Lakefront, which equally shared the upfront payment and will equally share contingent milestone payments, subject to customary adjustments. Announced positive results from the Phase 3 IDEAL study, supporting the potential of Livdelzi to help people living with primary biliary cholangitis ("PBC") with elevated alkaline phosphatase ("ALP") levels (between 1.0 and 1.67xULN) whose disease remains inadequately controlled despite treatment with ursodeoxycholic acid ("UDCA"), or who are intolerant to UDCA. Presented data from the open-label Phase 3 ASSURE study at the 2026 European Association for the Study of the Liver Congress evaluating the long-term safety and tolerability profile of Livdelzi in people living with PBC with elevated ALP levels (between 1.0 and 1.67xULN) whose disease remains inadequately controlled despite treatment with UDCA, or who are intolerant to UDCA. Corporate Issued $3.0 billion aggregate principal amount of senior unsecured notes and borrowed $1.1 billion aggregate principal amount under a one-year term loan facility. Announced a renewed 5-year collaboration with the World Health Organization to commit funding, strategic support and AmBisome donations toward eliminating visceral leishmaniasis. The Board declared a quarterly dividend of $0.82 per share of common stock for the third quarter of 2026. The dividend is payable on September 29, 2026, to stockholders of record at the close of business on September 15, 2026. Future dividends will be subject to Board approval. Certain amounts and percentages in this press release may not sum or recalculate due to rounding. Conference Call At 1:30 p.m. Pacific Time today, Gilead will host a conference call to discuss Gilead’s results. A live webcast will be available on http://investors.gilead.com and will be archived on www.gilead.com for one year. Non-GAAP Financial Information The information presented in this document has been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), unless otherwise noted as non-GAAP. Management believes non-GAAP information is useful for investors, when considered in conjunction with Gilead’s GAAP financial information, because management uses such information internally for its operating, budgeting and financial planning purposes. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Gilead’s operating results as reported under GAAP. Non-GAAP financial information generally excludes acquisition-related expenses including amortization of acquired intangible assets, restructuring charges and other items that are considered unusual or not representative of underlying trends of Gilead’s business, fair value adjustments of equity securities, the related tax charges or benefits associated with such exclusions and other discrete tax charges or benefits not representative of underlying trends such as changes in tax laws, transfers of intangible assets between certain legal entities, and effects of legal entity restructurings. Although Gilead consistently excludes the amortization of acquired intangible assets from the non-GAAP financial information, management believes that it is important for investors to understand that such intangible assets were recorded as part of acquisitions and contribute to ongoing revenue generation. Non-GAAP measures may be defined and calculated differently by other companies in the same industry. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the accompanying tables. About Gilead Sciences Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer and inflammation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Forward-Looking Statements Statements included in this press release that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include those relating to: Gilead’s ability to achieve its full year 2026 financial guidance, including as a result of the uncertainty of the amount and timing of Veklury revenues, the impact from Medicare Part D pricing reform in the Inflation Reduction Act, the expiration of subsidies related to the Affordable Care Act, our most-favored-nation pricing agreement with the U.S. government, changes in U.S. regulatory or legislative policies, and changes in U.S. trade policies, including tariffs; Gilead’s ability to make progress on any of its long-term ambitions or priorities laid out in its corporate strategy; Gilead’s ability to accelerate or sustain revenues for its virology, oncology, inflammation and other programs; Gilead’s ability to realize the potential benefits of acquisitions, collaborations or licensing arrangements, including the arrangements with Arcellx, Immunomedics, Lakefront, Merck, Ouro Medicines, The World Health Organization and Tubulis; the risk that Gilead’s U.S. manufacturing and R&D investment may not achieve their intended benefits; patent protection and estimated loss of exclusivity for our products and product candidates; Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timeframes or at all, the possibility of unfavorable results from ongoing and additional clinical trials, including those involving Livdelzi, Trodelvy, anito-cel, KITE-753 and lenacapavir (such as ASCENT-03, ASCENT-04, ASSURE, IDEAL, ISLEND-1 and ISLEND-2), and the risk that safety and efficacy data from clinical trials may not warrant further development of Gilead’s product candidates or the product candidates of Gilead’s strategic partners; Gilead’s ability to resolve the issues cited by the FDA in pending clinical holds to the satisfaction of the FDA and the risk that FDA may not remove such clinical holds, in whole or in part, in a timely manner or at all; Gilead’s ability to submit new drug applications for new product candidates or expanded indications in the currently anticipated timelines; Gilead’s ability to receive or maintain regulatory approvals in a timely manner or at all, and the risk that any such approvals, if granted, may be subject to significant limitations on use and may be subject to withdrawal or other adverse actions by the applicable regulatory authority, including those involving Hepcludex, Trodelvy and once-weekly oral Yeztugo; Gilead’s ability to successfully commercialize its products; the risk of potential disruptions to the manufacturing and supply chain of Gilead’s products; pricing and reimbursement pressures from government agencies and other third parties, including required rebates and other discounts; a larger than anticipated shift in payer mix to more highly discounted payer segments; market share and price erosion caused by the introduction of generic versions of Gilead products; the risk that physicians and patients may not see advantages of Gilead’s products over other therapies, including Hepcludex and Trodelvy; Gilead’s ability to effectively manage the access strategy relating to lenacapavir for HIV PrEP, subject to necessary regulatory approvals; and other risks identified from time to time in Gilead’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, Gilead makes estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Gilead bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. There may be other factors of which Gilead is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ significantly from these estimates. Further, results for the quarter ended June 30, 2026 are not necessarily indicative of operating results for any future periods. Gilead directs readers to its press releases, annual reports on Form 10-K, quarterly reports on Form 10-Q and other subsequent disclosure documents filed with the SEC. Gilead claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. The reader is cautioned that forward-looking statements are not guarantees of future performance and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update or supplement any such forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements. Additional information is available on our Investor Relations website, https://investors.gilead.com. Among other things, an estimate of Acquired IPR&D expenses is expected to be made available on the Quarterly Results page within the first ten (10) days after the end of each quarter. Gilead owns or has rights to various trademarks, copyrights and trade names used in its business, including the following: GILEAD®, GILEAD SCIENCES®, KITE®, AMBISOME®, ATRIPLA®, BIKTARVY®, CAYSTON®, COMPLERA®, DESCOVY®, DESCOVY FOR PREP®, EMTRIVA®, EPCLUSA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPCLUDEX®, JYSELECA®, LIVDELZI®/LYVDELZI®, LETAIRIS®, ODEFSEY®, SOVALDI®, STRIBILD®, SUNLENCA®, TECARTUS®, TRODELVY®, TRUVADA®, TRUVADA FOR PREP®, TYBOST®, VEKLURY®, VEMLIDY®, VIREAD®, VOSEVI®, YESCARTA®, YEZTUGO®/YEYTUO® and ZYDELIG®. Other trademarks and trade names are the property of their respective owners. For more information on Gilead Sciences, Inc., please visit www.gilead.com or call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235). View source version on businesswire.com: https://www.businesswire.com/news/home/20260804436824/en/ Contacts Investors: Jacquie Ross, [email protected] Media: Ashleigh [email protected]

Interested in Kymera Therapeutics, Inc.? Here are five stocks we like better. KT-621 atopic dermatitis trial enrollment is complete about six months ahead of schedule, with top-line Phase 2b data expected by the end of 2026 and potential Phase 3 initiation around mid-2027. The asthma Phase 2b trial is also enrolling, with results expected in late 2027. Kymera’s wholly owned KT-579 IRF5 degrader remains on track to report Phase 1 data in the fourth quarter of 2026 and enter a lupus proof-of-concept study shortly afterward, targeting significant unmet needs in autoimmune disease. The company ended June with approximately $1.5 billion in cash, cash equivalents and investments, providing a runway into 2029. Second-quarter collaboration revenue reached $65 million, including a $20 million Sanofi milestone and a $45 million Gilead-related option exercise fee. Insider Buying: Smart Money Just Spent +$100M on These 3 Stocks Kymera Therapeutics (NASDAQ:KYMR) said it completed enrollment in its Phase 2b atopic dermatitis trial of KT-621 about six months ahead of schedule, positioning the company to report top-line data by the end of 2026 and potentially begin Phase 3 development around mid-2027. Chief Executive Officer Nello Mainolfi said the accelerated enrollment reflected investigator and patient interest in a once-daily oral treatment, as well as the company’s clinical execution. The placebo-controlled BROADEN2 study is evaluating three doses of KT-621, a STAT6 degrader, in atopic dermatitis. The primary endpoint is the percentage change from baseline in EASI score at week 16, while secondary measures include EASI-50, EASI-75, Investigator’s Global Assessment, pruritus scores and safety. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Analysts Can't Get Enough of These Little-Known Biopharma Stocks Mainolfi said the company sought to maintain trial quality and enroll patients with appropriate disease severity despite the faster-than-expected recruitment. He said Kymera expects its results to fall “in that ballpark” of prior dupilumab atopic dermatitis studies, while noting that differences in trial populations make direct comparisons difficult. Kymera is developing KT-621 as an oral therapy for Type 2 inflammatory diseases, including atopic dermatitis, asthma, eosinophilic esophagitis, chronic spontaneous urticaria and other conditions. Mainolfi said the company sees an opportunity for an oral medicine that combines clinical activity with tolerability, particularly among patients who are not well served by existing treatments. → 3 Drone Stocks That Should Soar After the Summer Slump The company said enrollment is also underway in the BREADTH Phase 2b trial of KT-621 in Type 2 asthma, with top-line data expected in late 2027. Kymera has initiated an open-label extension study that will allow patients completing BREADTH to continue receiving KT-621 for up to 52 additional weeks. Mainolfi said asthma recruitment is progressing well but is not expected to match the pace of enrollment in atopic dermatitis. The asthma study has more specific entry requirements, including criteria related to fractional exhaled nitric oxide and eosinophil levels, narrowing the eligible patient population and potentially increasing screen failures. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure During the question-and-answer session, Mainolfi said Kymera expects to hold an end-of-Phase 2 meeting with the FDA for atopic dermatitis as soon as possible after the Phase 2b data are available. The company does not intend to wait for the asthma study results before seeking that meeting. Kymera is also considering pediatric development. The atopic dermatitis study includes adolescents ages 12 and older, and Mainolfi said the company is preparing for studies in younger patients, subject to discussions with regulators. He said the company believes it is in a favorable position from a formulation perspective but did not provide further details. Kymera’s second wholly owned clinical program, KT-579, is an oral IRF5 degrader being studied in healthy volunteers. The company expects to report Phase 1 results in the fourth quarter of 2026 and plans to move into a lupus proof-of-concept study shortly afterward. Mainolfi described IRF5 as a genetically supported regulator of innate immune dysfunction that is implicated in lupus, inflammatory bowel disease and other autoimmune diseases. The Phase 1 trial is designed to assess single and multiple ascending doses, with an objective of achieving more than 90% degradation of IRF5 in blood at doses with a favorable safety profile. The study will also evaluate pharmacodynamic activity through ex vivo assays measuring the effects of IRF5 degradation on Type 1 interferons, inflammatory cytokines and gene transcripts associated with TLR7, TLR8 and TLR9 pathways. Mainolfi said Kymera expects to see a 50% to 80% reduction in these biomarkers if the program is effectively engaging the target. New Chief Medical Officer Terence Rooney, a rheumatologist who previously held immunology portfolio leadership roles at Johnson & Johnson, said lupus continues to have substantial unmet need, including for oral medicines with a favorable benefit-risk profile. He said patient selection, site selection, trial design and oversight will be central considerations in lupus development. Kymera said Sanofi recently started a Phase 1 study of KT-485, its second-generation IRAK4 degrader, triggering a $20 million milestone payment. The study is designed to evaluate the drug in healthy volunteers and patients with hidradenitis suppurativa. Meanwhile, KT-200, a CDK2 molecular glue partnered with Gilead Sciences, is advancing toward an expected investigational new drug application and clinical start in 2027, according to the company. The company also announced leadership changes. Jared Gollob retired as chief medical officer after eight years at Kymera and will remain an adviser through year-end to support the transition. Rooney has succeeded him as CMO. Kymera also named Felix Baker chairman, succeeding Bruce Booth, who will remain on the board as a director. Chief Financial Officer Bruce Jacobs reported second-quarter collaboration revenue of $65 million, consisting of a $45 million option exercise fee tied to Gilead and the $20 million Sanofi milestone. Kymera said it has recognized all deferred revenue and does not expect additional revenue in 2026 unless new collaboration milestones are achieved. Research and development expense was $119.5 million, including $10.4 million in non-cash stock-based compensation. Adjusted cash R&D expense was $109.1 million, up 22% from the first quarter, reflecting investment in the clinical portfolio. General and administrative expense was $21.1 million, including $8.6 million in stock-based compensation. Adjusted cash G&A expense was $12.5 million, down 4% sequentially. Cash, cash equivalents and investments totaled about $1.5 billion at the end of June. Jacobs said Kymera’s cash runway extends into 2029 and is expected to support completion of the ongoing KT-621 Phase 2b trials, progression of KT-579 through its planned lupus proof-of-concept study, and initial portions of Phase 3 development for KT-621 in asthma and atopic dermatitis. Kymera Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in Watertown, Massachusetts, focused on the discovery, development and commercialization of small‐molecule therapies that harness the body's natural protein homeostasis pathways. Since its founding in 2016, Kymera has pursued a targeted protein degradation platform designed to identify and selectively eliminate disease‐causing proteins. The company's proprietary Pegasus™ platform integrates insights from ubiquitin biology and medicinal chemistry to advance novel degrader candidates across a range of therapeutic areas. The company's pipeline emphasizes immunology and oncology. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Kymera Therapeutics Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Interested in Gilead Sciences, Inc.? Here are five stocks we like better. Base business sales rose 10% year over year to $7.6 billion, led by HIV, oncology and liver treatments. Gilead raised its full-year base business sales outlook to $29.8 billion–$30.1 billion and increased expected HIV sales growth to 9%–10%. The HIV prevention business more than doubled to over $1 billion in quarterly sales, with Yeztugo generating $232 million and Descovy PrEP about $801 million. Gilead expects an FDA decision on BIC/LEN by Aug. 27 and is targeting a potential 2027 launch for a once-weekly islatravir/lenacapavir regimen. Reported non-GAAP EPS was negative $6.75 because of $11.2 billion in acquisition-related research and development charges tied primarily to Arcellx, Tubulis and Ouro Medicines. Excluding specified acquisition effects, illustrative EPS was $2.27, while lower Veklury sales led Gilead to cut its full-year Veklury forecast to approximately $300 million. 3 Blue-Chip Stocks Built for a Rotating Market Gilead Sciences (NASDAQ:GILD) reported second-quarter 2026 base business sales growth of 10% year over year to $7.6 billion, supported by HIV treatments and prevention products, Trodelvy in oncology and Livdelzi in liver disease. The company raised its full-year base business sales outlook and increased its expected HIV growth rate, while reporting a quarterly non-GAAP loss driven by acquisition-related research and development charges. Chairman and Chief Executive Officer Daniel O’Day said the company’s base business delivered its strongest second-quarter growth in three years. “This was also an exciting quarter of clinical execution with positive updates across our core therapeutic areas,” O’Day said. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control These 3 Cash Flow Machines Provide Stability in Uncertain Markets Second-quarter HIV sales rose 12% from a year earlier to $5.7 billion. Gilead increased its expectation for full-year HIV sales growth to 9% to 10%, compared with prior guidance for 8% growth. Biktarvy sales increased 7% year over year to $3.8 billion. Chief Commercial and Corporate Affairs Officer Johanna Mercier said growth reflected higher average realized prices, inventory build and demand. Sequential sales growth was partly offset by lower demand tied to market dynamics, including a greater-than-expected impact from Affordable Care Act-related changes. → Financials Hit Record Highs as the AI Trade Unravels—Can They Keep Leading? 3 Cash-Flow Machines Investors May Want Heading Into 2026 Mercier said HIV treatment market growth slowed during the quarter as some patients navigated changes in insurance coverage, though Gilead expects the market to return to its typical annual growth rate of 2% to 3%. Gilead’s HIV prevention, or PrEP, business more than doubled year over year and exceeded $1 billion in quarterly sales for the first time. The company said its total PrEP business is now operating at an annual run rate of $4 billion. Yeztugo recorded second-quarter sales of $232 million, up 40% sequentially. Gilead maintained its expectation for about $1 billion in full-year Yeztugo sales. Descovy PrEP sales were approximately $801 million, up 60% year over year, driven by demand and higher realized prices related to channel mix. Gilead said more than 70% of Yeztugo users returned for reinjection at six months, extending their protection for a full year. → Why Rare Earth Processing Could Be the Real 2027 Opportunity Mercier said Yeztugo had become the leading long-acting PrEP option for treatment-naive users and the leading option in the PrEP switch market across oral and injectable products. The company recently introduced a patient-support program, called Ready to Go, that includes text-message reminders, education, patient-support links and nurse call-center services intended to support persistence. Gilead expects an FDA decision by Aug. 27 on bictegravir plus lenacapavir, or BIC/LEN, a once-daily oral regimen for virally suppressed people with HIV. The company also plans global filings for its once-weekly islatravir plus lenacapavir regimen, developed with Merck, and sees a potential launch in 2027 following positive Phase III ISLEND-1 and ISLEND-2 results. Trodelvy sales rose 26% year over year to $457 million, driven by demand in triple-negative breast cancer and pretreated HR-positive, HER2-negative metastatic breast cancer. During the quarter, the FDA approved Trodelvy in first-line metastatic triple-negative breast cancer across PD-L1 status. Mercier said the first-line metastatic triple-negative breast cancer population is nearly twice the size of the second-line setting and has a longer median treatment duration. Gilead expects the approvals and updated NCCN guidelines to broaden adoption of the drug. The company also closed its acquisition of Tubulis, adding an antibody-drug conjugate platform and clinical-stage candidates. Chief Medical Officer Dietmar Berger highlighted Phase I data for GS-8824, formerly TUB-040, in platinum-resistant ovarian cancer. Across selected doses, the NaPi2b-directed antibody-drug conjugate showed a confirmed objective response rate of 61%, median progression-free survival of 11 months and a low rate of hematological toxicity, according to Berger. Gilead expects to enter registrational development of GS-8824 in platinum-resistant ovarian cancer as early as 2027. It has also added early-stage programs in platinum-sensitive ovarian cancer and other advanced tumors. Cell therapy sales were $417 million, down 14% year over year amid competition across regions. Sales rose 2% sequentially, reflecting increased Yescarta demand that was partly offset by competitive pressure on Tecartus. Gilead is preparing for a potential launch of anito-cel in fourth-line or later relapsed or refractory multiple myeloma, with a Dec. 23 PDUFA date. The company completed its acquisition of Arcellx in April, giving it full ownership of anito-cel and the D-domain binder platform. Berger said enrollment in the iMMagine-3 second-line multiple myeloma trial was completed during the quarter, with a potential filing in that indication as early as 2027. Livdelzi sales more than doubled year over year to $167 million, supported by U.S. demand and uptake in Europe. Gilead said Livdelzi remains the leading second-line treatment for primary biliary cholangitis. The company also reported positive top-line Phase III IDEAL results in patients with inadequately controlled primary biliary cholangitis and lower alkaline phosphatase levels. Berger said the study showed statistically significant composite alkaline phosphatase normalization, with detailed findings expected at a medical conference later this year. Total liver disease sales increased 10% year over year to $877 million. Gilead launched Hepcludex in the U.S. after the FDA granted accelerated approval in May, making it the first and only FDA-approved treatment for chronic hepatitis delta virus infection. The company expects Hepcludex to be a modest growth contributor. Total product sales were $7.6 billion, up 8% year over year, as base business growth was partly offset by lower Veklury sales. Gilead reduced its full-year Veklury sales forecast to approximately $300 million from approximately $600 million, citing fewer COVID-19-related hospitalizations. Chief Financial Officer Andrew Dickinson said second-quarter acquired in-process R&D expenses were $11.2 billion, largely related to the Arcellx, Tubulis and Ouro Medicines acquisitions. As a result, Gilead reported non-GAAP diluted earnings per share of negative $6.75 and a non-GAAP operating margin of negative 94%. Excluding acquisition-related IPR&D expenses and nonrecurring other revenue, Dickinson said illustrative non-GAAP diluted EPS was $2.27 for the quarter. Gilead raised its full-year base business sales outlook to $29.8 billion to $30.1 billion, representing growth of about 6% to 7% year over year. It forecast full-year non-GAAP EPS of negative $0.65 to negative $0.30, while illustrative EPS excluding specified acquisition-related effects and nonrecurring other revenue was projected at $8.50 to $8.85. The company returned nearly $1.4 billion to shareholders in the second quarter, including $355 million in share repurchases. Dickinson said Gilead does not currently anticipate pursuing additional sizable acquisitions this year as it focuses on integrating the businesses and platforms acquired during the first half. Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world. Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Gilead Sciences Q2 Earnings Call Highlights" was originally published by MarketBeat. 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