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Gilead Sciences (GILD)

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 and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead has promoted equity, particularly healthcare equity, since the company brought its first therapies to the market. Through global partnerships, Gilead's medicines today reach millions of people in low- and middle-income countries around the world. In the United States, Gilead has committed more than $100 million over 10 years through the COMPASS Initiative to community organizations that are working to combat HIV in the Southern United States. In 2020, Gilead launched the Racial Equity Community Impact Fund to support organizations tackling racial inequities affecting Black communities across the United States.

Company profile

Ticker
GILD
Exchange
Website
CEO
Daniel O'Day
Employees
Incorporated
Location
Fiscal year end
Former names
GILEAD SCIENCES INC
SEC CIK
Subsidiaries
Asegua Therapeutics LLC • Forty Seven, Inc. • Forty Seven Holdings, LLC • Gilead Alberta, LLC • Gilead Apollo, LLC • Gilead Biopharmaceutics US LLC • Gilead Calistoga, LLC • Gilead Connecticut, Inc. • Gilead Holdings, LLC • Gilead Pharmasset LLC ...
IRS number
943047598

GILD stock data

Calendar

8 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 4.74B 4.74B 4.74B 4.74B 4.74B 4.74B
Cash burn (monthly) (no burn) 12.83M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 21.61M n/a n/a n/a n/a
Cash remaining n/a 4.72B n/a n/a n/a n/a
Runway (months of cash) n/a 367.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Wilfong Diane E. Common Stock Payment of exercise Dispose F No No 63.14 1,066 67.31K 28,163
10 Aug 22 Wilfong Diane E. Common Stock Option exercise Acquire M No No 0 2,479 0 29,229
10 Aug 22 Wilfong Diane E. RSU Common Stock Option exercise Dispose M No No 0 2,479 0 13,560
24 Jul 22 Mercier Johanna Common Stock Payment of exercise Dispose F No No 60.8 3,206 194.92K 39,371
24 Jul 22 Mercier Johanna Common Stock Option exercise Acquire M No No 0 7,505 0 42,577
24 Jul 22 Mercier Johanna RSU Common Stock Option exercise Dispose M No No 0 7,505 0 52,288
29 Jun 22 Lofton Kevin E Phantom Stock Common Stock Grant Acquire A No No 0 35.134 0 3,042.212
77.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1536 1569 -2.1%
Opened positions 128 150 -14.7%
Closed positions 161 233 -30.9%
Increased positions 655 675 -3.0%
Reduced positions 559 545 +2.6%
13F shares Current Prev Q Change
Total value 59.87B 58.07B +3.1%
Total shares 966.08M 977.1M -1.1%
Total puts 9.99M 17.88M -44.1%
Total calls 13.74M 19.1M -28.1%
Total put/call ratio 0.7 0.9 -22.3%
Largest owners Shares Value Change
BLK Blackrock 126.94M $7.85B +4.3%
Vanguard 110.4M $6.82B +4.5%
STT State Street 57.95M $3.58B -0.0%
Capital Research Global Investors 55.98M $3.46B +0.0%
Capital World Investors 52.86M $3.27B +6.8%
Dodge & Cox 36.97M $2.28B -0.2%
Geode Capital Management 23.17M $1.43B +2.1%
MS Morgan Stanley 17.83M $1.1B +32.0%
Arrowstreet Capital, Limited Partnership 15.67M $968.45M -13.0%
NTRS Northern Trust 15.31M $946.51M +2.3%
Largest transactions Shares Bought/sold Change
LGEN Legal & General 0 -11.61M EXIT
BLK Blackrock 126.94M +5.23M +4.3%
Vanguard 110.4M +4.79M +4.5%
MS Morgan Stanley 17.83M +4.32M +32.0%
Parametric Portfolio Associates 0 -3.53M EXIT
Aqr Capital Management 6.1M +3.38M +124.8%
D. E. Shaw & Co. 1.77M -3.37M -65.6%
FMR 2.94M -3.37M -53.4%
Capital World Investors 52.86M +3.36M +6.8%
Ubs Global Asset Management Americas 9.22M -2.57M -21.8%

Financial report summary

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Risks
  • Certain of our products subject us to additional or heightened risks.
  • Our success depends on developing and commercializing new products or expanding the indications for existing products.
  • We face challenges in accurately forecasting sales because of the difficulties in predicting demand for our products and fluctuations in purchasing patterns or wholesaler inventories.
  • We face significant competition from global pharmaceutical and biotechnology companies, specialized pharmaceutical firms and generic drug manufacturers.
  • Our existing products are subject to reimbursement pressures from government agencies and other third parties, required rebates and other discounts on our products and other pricing pressures.
  • We may experience adverse impacts resulting from the importation of our products from lower price markets or the distribution of illegally diverted or counterfeit versions of our products.
  • We face risks in our clinical trials, including the potential for unfavorable results, delays in anticipated timelines and disruption.
  • We may face manufacturing difficulties, delays or interruptions, including at our third-party manufacturers and corporate partners.
  • Our operations depend on compliance with complex FDA and comparable international regulations. Failure to obtain broad approvals on a timely basis or to maintain compliance could delay or halt commercialization of our products.
  • We are impacted by evolving laws, regulations and legislative or regulatory actions applicable to the health care industry.
  • We are subject to risks if significant safety issues arise for our marketed products or our product candidates.
  • Our success depends to a significant degree on our ability to obtain and defend our patents and other intellectual property rights both domestically and internationally, and to operate without infringing upon the patents or other proprietary rights of third parties.
  • We face potentially significant liability and increased expenses from litigation and government investigations relating to our products and operations.
  • Our business has been, and may in the future be, adversely affected by outbreaks of epidemic, pandemic or contagious diseases, including the ongoing COVID-19 pandemic.
  • We face risks associated with our global operations.
  • Our aspirations, goals and disclosures related to environmental, social and governance (“ESG”) matters expose us to numerous risks, including risks to our reputation and stock price.
  • We depend on relationships with third parties for sales and marketing performance, technology, development, logistics and commercialization of products. Failure to maintain these relationships, poor performance by these companies or disputes with these third parties could negatively impact our business.
  • Due to the specialized and technical nature of our business, the failure to attract, develop and retain highly qualified personnel could adversely impact us.
  • Significant cybersecurity incidents could give rise to legal liability and regulatory action under data protection and privacy laws and adversely affect our business and operations.
  • We are subject to risks associated with engaging in business acquisitions, licensing arrangements, collaborations, options, equity investments, asset divestitures and other strategic transactions.
  • Changes in our effective income tax rate could reduce our earnings.
Management Discussion
  • See Note 2. Revenues of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for further disaggregation of revenue by product.
  • HIV product sales increased by 7% and 5% to $4.2 billion and $7.9 billion for the three and six months ended June 30, 2022, respectively, compared to the same periods in 2021, primarily due to changes in product and channel mix leading to higher average realized price and continued higher demand for Biktarvy worldwide, partially offset by lower demand for Truvada, as expected, primarily due to the continued generic competition following the October 2020 loss of exclusivity in the U.S., and for Genvoya, primarily due to patients switching to Biktarvy. We expect that our HIV business will continue to recover from the COVID-19 pandemic in 2022.
  • Veklury product sales decreased by 46% and 13% to $445 million and $2.0 billion for the three and six months ended June 30, 2022, respectively, compared to the same periods in 2021, primarily due to lower demand driven by reduced hospitalization rates in the U.S. and Europe, partially offset by higher demand in Other International. Sales of Veklury are generally affected by COVID-19 related rates of infections and hospitalizations as well as the availability, uptake and effectiveness of vaccinations and alternative treatments for COVID-19. As a result, future sales of Veklury are difficult to predict and may vary significantly from one period to the next.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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Patents