Gilead Sciences

gildNASDAQModerate Risk

Antiviral chemistry, cell therapy, and partnered antibody-drug conjugates

Reviewed by Blane Jackson, DDS, MBA. Educational analysis only. Read the editorial policy and disclosures.

Market cap

Large cap

Cash position

Large cash generation from HIV supports oncology and inflammation investment.

Revenue status

commercial stage

Pipeline assets

3 programs

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What does Gilead Sciences do?

Gilead Sciences is a commercial-stage biotech company that investors generally judge on execution, not just science. The current story revolves around Biktarvy, Trodelvy, Anitocabtagene autoleucel, because those assets drive the next important valuation checkpoints. If the lead program keeps advancing cleanly, investors can start to believe the broader platform has durable value. If timelines move, safety issues surface, or commercial adoption falls short, the market can reset expectations quickly. That is why the balance sheet matters here as much as the pipeline. A runway of roughly 60 months gives management some room to operate, but it is not a substitute for real clinical or commercial progress. In plain English, this is a company with real upside if management delivers, but it is still exposed to the classic biotech mix of binary data, regulatory uncertainty, competitive pressure, and financing risk. Investors should also pay attention to how management communicates setbacks, prioritizes spend, and chooses which programs deserve the most resources, because those decisions often matter almost as much as the raw data itself. The market usually rewards clarity, discipline, and repeatable execution. Investors should focus on whether the next round of updates materially de-risks the business or simply extends the waiting period. The stock can outperform if evidence improves faster than expectations, but it can also sell off hard if even one key assumption breaks.

What to watch

1

Whether Biktarvy meets the next commercial or clinical milestone cleanly.

2

Any shift in timing, safety, or regulator tone around Trodelvy.

3

Cash runway discipline and whether management can fund the pipeline without damaging dilution.


Pipeline

DrugIndicationPhaseExpected data
BiktarvyHIVApprovedNot disclosed
Trodelvysolid tumors including breast cancerApprovedNot disclosed
Anitocabtagene autoleucelB-cell malignanciesPhase 2Not disclosed

Investment thesis

Bull case

Gilead Sciences offers investors a clearer path than many biotech peers because it already has meaningful commercial infrastructure and cash generation. The core bullish case rests on Biktarvy and Trodelvy, which together give the story both nearer-term execution markers and longer-duration upside. If management continues to hit development milestones, the market could assign more value to the rest of the pipeline and to the underlying antiviral chemistry, cell therapy, and partnered antibody-drug conjugates. Just as important, Gilead Sciences operates in therapeutic areas where strong clinical data can change sentiment quickly. For investors comfortable with biotech volatility, that combination of identifiable catalysts, platform optionality, and a still-debatable valuation can create an attractive setup over the next twelve to eighteen months.

Bear case

The bear case is that Gilead Sciences still has to prove more than headline enthusiasm suggests. Biotech valuations can compress quickly when timelines slip, safety signals emerge, or commercial adoption disappoints, and Gilead Sciences is exposed to each of those risks in some form. Biktarvy may face competitive, reimbursement, or durability questions, while Trodelvy still needs to deliver the kind of evidence that meaningfully changes financial expectations. If one or two key catalysts miss, investors could refocus on burn, concentration risk, or the reality that promising science does not always become durable revenue. In a harder financing or risk-off market, the stock could remain volatile even if the long-term scientific story stays intact.

Key upcoming catalysts

KITE-753 vs axi-cel: KITE-753 in Relapsed/refractory large B-cell lymphoma — primary completion

2031-05

Registry milestone — the date data collection is scheduled to end, not when results are released. ClinicalTrials.gov

Trial milestoneSignificant

Risk factors

Clinical data may not replicate earlier signals.

Regulatory timing or label scope could shift.

Commercial uptake or competitive positioning may disappoint.

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Comparable companies

AbbVieAmgenBristol Myers Squibb

Financial snapshot

These figures are drafted by our AI pipeline, not read from SEC filings. Confirm anything you would act on against the company's latest 10-Q or 10-K.

Cash

Large cash generation from HIV supports oncology and inflammation investment.

Quarterly burn

Strong commercial cash flow offsets substantial pipeline investment.

Cash runway

Not derivable

cash or burn not disclosed as a figure

Revenue

commercial stage

Institutional ownership

85%

Source: company profile text. These figures come from the company profile text, not from a filing we have parsed. Check them against the latest 10-Q before relying on them.

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Disclaimer: This page is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Clinical trial analysis reflects publicly available data and AI-generated interpretations. Biotech investing carries significant risk including potential total loss of investment. Always verify critical claims through primary sources and consult a qualified financial advisor. Some links on this page are affiliate links. Review our editorial policy and disclosures.

Sponsor's late-stage trial record

Gilead Sciences has 485 Phase 2 or 3 studies on ClinicalTrials.gov: 327 completed, 97 stopped early, 57 ongoing, 4 other.

327

Completed

97

Stopped early

57

Ongoing

Stopped early

  • NCT06682234Phase 2 · started 2025 · withdrawn

    obeldesivir in filovirus disease · n=0

    Reason given: The study was withdrawn after the Marburg outbreak in Rwanda was declared over, prior to enrollment of any participants.

  • NCT06784973Phase 2 · started 2025 · terminated

    Obeldesivir in rsv infection · n=4

    Reason given: Study was terminated by Sponsor; the decision was not due to any safety findings.

  • WONDERS2Phase 2/3 · started 2024 · terminated

    lepetegravir in hiv-1-infection · n=73

    Reason given: Sponsor decision to terminate study.

  • NCT06585150Phase 2 · started 2024 · terminated

    Obeldesivir in rsv infection · n=150

    Reason given: Study was terminated by Sponsor; the decision was not due to any safety findings.

  • NCT05996744Phase 2/3 · started 2023 · terminated

    Obeldesivir in covid-19 · n=3

    Reason given: Study was terminated by Sponsor; the decision was not due to any safety findings.

  • COSMICPhase 2 · started 2023 · terminated

    Edecesertib in cutaneous lupus erythematosus (cle) · n=20

    Reason given: Sponsor Decision

  • BIRCHPhase 3 · started 2022 · terminated

    Obeldesivir in covid-19 · n=468

    Reason given: The study was stopped early as it was determined there would not be a statistically significant treatment effect associated with the primary endpoint due to the low number of events.

  • ZUMA-25Phase 2 · started 2022 · terminated

    Brexucabtagene Autoleucel in relapsed/refractory waldenstrom macroglobulinemia · n=19

    Reason given: Sponsor decision to terminate study.

  • ELEVATE CRCPhase 2 · started 2022 · terminated

    Magrolimab in metastatic colorectal cancer · n=77

    Reason given: Sponsor decision to terminate study

  • ENHANCE-3Phase 3 · started 2022 · terminated

    Magrolimab in acute myeloid leukemia · n=378

    Reason given: Study was terminated due to futility

  • NCT05165771Phase 2 · started 2022 · withdrawn

    GS-5718 in rheumatoid arthritis · n=0

    Reason given: Sponsor decision to withdraw study.

  • ELEVATE TNBCPhase 2 · started 2021 · terminated

    Magrolimab in triple-negative breast cancer · n=92

    Reason given: Sponsor decision to terminate study.

  • NCT04892446Phase 2 · started 2021 · terminated

    Magrolimab in multiple myeloma · n=36

    Reason given: This study was terminated early due to the Sponsor's decision to discontinue development of the investigational drug and close the program.

  • ELEVATELung&UCPhase 2 · started 2021 · terminated

    Magrolimab in solid tumor · n=106

    Reason given: Sponsor decision to terminate study

  • ELEVATE HNSCCPhase 2 · started 2021 · terminated

    Magrolimab in head and neck squamous cell carcinoma · n=193

    Reason given: Sponsor decision to terminate study

  • ENHANCE-2Phase 3 · started 2021 · terminated

    Magrolimab in acute myeloid leukemia · n=258

    Reason given: Study discontinued due to futility.

  • NCT04827589Phase 2 · started 2021 · withdrawn

    Tirabrutinib in chronic spontaneous urticaria · n=0

    Reason given: Development program terminated

  • NCT04778410Phase 2 · started 2021 · terminated

    Magrolimab in myeloid malignancies · n=54

    Reason given: Sponsor decision to terminate the study.

  • REDPINEPhase 3 · started 2021 · terminated

    Remdesivir in covid-19 · n=249

    Reason given: The study was terminated due to study enrollment feasibility. This decision is not based on efficacy or safety concerns.

  • SEALION2-NAÏVEPhase 3 · started 2020 · withdrawn

    Filgotinib in ankylosing spondylitis · n=0

    Reason given: Development program terminated

  • SEALION1-IRPhase 3 · started 2020 · withdrawn

    Filgotinib in ankylosing spondylitis · n=0

    Reason given: Development program terminated

  • NCT04501952Phase 3 · started 2020 · terminated

    RDV in covid-19 · n=584

    Reason given: The study was terminated due to study enrollment feasibility and changing needs of non-hospitalized participants. This decision is not based on efficacy or safety concerns.

  • ENHANCEPhase 3 · started 2020 · terminated

    Magrolimab in myelodysplastic syndromes · n=539

    Reason given: Study discontinued due to futility based on a planned analysis

  • FalconPhase 2 · started 2019 · terminated

    Tilpisertib in ulcerative colitis · n=19

    Reason given: Sponsor terminated the study since a new molecular entity was able to achieve greater target coverage

  • PENGUIN 1Phase 3 · started 2019 · terminated

    Filgotinib in psoriatic arthritis · n=67

    Reason given: Development program terminated

  • PENGUIN 2Phase 3 · started 2019 · terminated

    Filgotinib in psoriatic arthritis · n=106

    Reason given: Development program terminated

  • NCT04024813Phase 2 · started 2019 · terminated

    Seladelpar in primary sclerosing cholangitis · n=1

    Reason given: Study was terminated as a precautionary measure due to histological findings in a nonalcoholic steatohepatitis (NASH) study (CB8025-21730, NCT03551522).

  • PRIMISPhase 3 · started 2019 · terminated

    Cilofexor in primary sclerosing cholangitis · n=419

    Reason given: Following recommendation of the external Data Monitoring Committee, after it reviewed the results of a planned interim futility analysis.

  • NCT03820258Phase 2 · started 2019 · terminated

    SOF/VEL/VOX in hepatitis c virus infection · n=21

    Reason given: SOF/VEL/VOX will not be evaluated in younger age groups.

  • NCT03551522Phase 2 · started 2018 · terminated

    Seladelpar in nash - nonalcoholic steatohepatitis · n=181

    Reason given: unexpected histological findings

  • NCT03472326Phase 2 · started 2018 · terminated

    GS-9131 in hiv-1-infection · n=21

    Reason given: GS-9131 did not meet the targeted antiviral response

  • NCT03434353Phase 2 · started 2018 · terminated

    Inarigivir Soproxil in chronic hepatitis b · n=123

    Reason given: Study was terminated due to sponsor's decision to not pursue further development of inarigivir soproxil in chronic hepatitis B.

  • ALPINE 2Phase 3 · started 2017 · terminated

    AZLI in pseudomonas aeruginosa respiratory tract infection/colonization · n=149

    Reason given: Study was terminated early by sponsor due to the challenges and risks introduced by Coronavirus disease 2019 (COVID-19) pandemic.

  • HUMBOLDTPhase 2 · started 2017 · terminated

    Filgotinib in noninfectious uveitis · n=74

    Reason given: Development program terminated

  • STELLAR-3Phase 3 · started 2017 · terminated

    SEL in nonalcoholic steatohepatitis · n=808

    Reason given: This study was terminated early due to lack of efficacy based on the results of the Week 48 analysis as prespecified in the clinical study protocol.

  • STELLAR-4Phase 3 · started 2017 · terminated

    SEL in nonalcoholic steatohepatitis · n=883

    Reason given: This study was terminated early due to lack of efficacy based on the results of the Week 48 analysis as prespecified in the clinical study protocol.

  • NCT02983604Phase 1/2 · started 2017 · terminated

    GS-5829 in advanced estrogen receptor positive her2- breast cancer · n=14

    No reason recorded in the registry.

  • NCT02862574Phase 2 · started 2016 · terminated

    Andecaliximab in rheumatoid arthritis · n=15

    Reason given: Study was terminated by sponsor and decision was not due to any safety signals.

  • PBC-Phase 2Phase 2 · started 2016 · terminated

    Cilofexor in primary biliary cholangitis · n=71

    Reason given: The study was terminated because of the availability of alternate therapies for primary biliary cholangitis (PBC).

  • NCT02953509Phase 1/2 · started 2016 · terminated

    Magrolimab in non hodgkin lymphoma · n=178

    Reason given: Study terminated early due to the magrolimab program discontinuation.

  • NCT02759562Phase 2 · started 2016 · terminated

    Andecaliximab in cystic fibrosis · n=6

    Reason given: Discontinuation of development for this indication

  • DISCOVERPhase 3 · started 2016 · terminated

    F/TAF in pre-exposure prophylaxis of hiv-1 infection · n=5399

    Reason given: Following review of accumulated safety data from DISCOVER and real-world use of F/TAF, the sponsor determined that the long-term safety of F/TAF had been demonstrated and no further safety monitoring within the study was required.

  • NCT02161679Phase 2 · started 2016 · withdrawn

    IMMU-132 infusion is administered to participants in one arm for the study in triple-negative breast cancer · n=0

    Reason given: FDA asked to administratively split from IND115621- to open a new IND you need to file a protocol we only drafted it to get the IND open - never initiated

  • NCT02701634Phase 2 · started 2016 · terminated

    ENTO in chronic graft versus host disease · n=66

    No reason recorded in the registry.

  • NCT02568683Phase 1/2 · started 2016 · terminated

    Entospletinib in non-hodgkin lymphoma · n=10

    No reason recorded in the registry.

  • NCT02536300Phase 3 · started 2016 · terminated

    Idelalisib in follicular lymphoma · n=96

    Reason given: Gilead has made the decision to close the study due to enrollment challenges

  • NCT02607228Phase 1/2 · started 2015 · terminated

    Alobresib in metastatic castrate-resistant prostate cancer · n=31

    No reason recorded in the registry.

  • NCT02600351Phase 3 · started 2015 · terminated

    LDV/SOF in hepatitis c virus infection · n=87

    Reason given: Due to lack of feasibility of enrolling participants, the study was terminated early.

  • NCT02609048Phase 2 · started 2015 · terminated

    Placebo Comparator in primary biliary cirrhosis (pbc) · n=41

    Reason given: Study stopped early after review of safety and efficacy demonstrated efficacy proof-of-concept and need for dose reduction.

  • NCT02258529Phase 2 · started 2015 · terminated

    Idelalisib in follicular lymphoma · n=10

    No reason recorded in the registry.

  • NCT02520284Phase 2/3 · started 2015 · terminated

    Andecaliximab in ulcerative colitis · n=165

    No reason recorded in the registry.

  • ENTO in AMLPhase 1/2 · started 2015 · terminated

    Entospletinib in acute myeloid leukemia · n=148

    No reason recorded in the registry.

  • NCT02404220Phase 1/2 · started 2015 · terminated

    Entospletinib in acute lymphoblastic leukemia · n=30

    No reason recorded in the registry.

  • NCT02377336Phase 2 · started 2015 · withdrawn

    GS-6615 in ischemic heart disease · n=0

    Reason given: Anticipated recruitment challenges

  • NCT02405442Phase 2 · started 2015 · terminated

    Andecaliximab in crohn's disease · n=187

    No reason recorded in the registry.

  • NCT01980875Phase 3 · started 2015 · terminated

    Idelalisib in chronic lymphocytic leukemia · n=57

    No reason recorded in the registry.

  • LIBERTY-HCMPhase 2/3 · started 2015 · terminated

    Eleclazine in hypertrophic cardiomyopathy · n=172

    No reason recorded in the registry.

  • NCT02300558Phase 3 · started 2014 · terminated

    Eleclazine in long qt syndrome type 3 · n=41

    No reason recorded in the registry.

  • NCT02044822Phase 2 · started 2014 · terminated

    Idelalisib in b-cell chronic lymphocytic leukemia (cll) with 17p deletion · n=102

    No reason recorded in the registry.

  • NCT01980888Phase 3 · started 2014 · terminated

    Idelalisib in chronic lymphocytic leukemia · n=311

    No reason recorded in the registry.

  • PANCRIT®-1Phase 3 · started 2013 · terminated

    IMMU-107 in metastatic pancreatic cancer · n=334

    Reason given: The DSMB conducted an interim analysis on overall survival, which showed that the treatment arm did not demonstrate a sufficient improvement in OS vs. placebo.

  • NCT01915472Phase 2 · started 2013 · withdrawn

    IMMU 130 in metastatic colorectal cancer · n=0

    Reason given: No participants enrolled

  • NCT01923311Phase 2/3 · started 2013 · terminated

    EVG in acquired immune deficiency syndrome (aids) · n=31

    No reason recorded in the registry.

  • NCT01796470Phase 2 · started 2013 · terminated

    Entospletinib in chronic lymphocytic leukemia · n=66

    Reason given: Study was terminated due to safety measures.

  • NCT01799889Phase 2 · started 2013 · terminated

    Entospletinib MM in chronic lymphocytic leukemia · n=326

    Reason given: Sponsor's decision to discontinue development of entospletinib.

  • NCT01605318Phase 1/2 · started 2013 · terminated

    Labetuzumab Govitecan (LG) in metastatic colorectal cancer · n=92

    No reason recorded in the registry.

  • RAINIERPhase 2 · started 2013 · terminated

    Simtuzumab in idiopathic pulmonary fibrosis · n=544

    Reason given: The Study was terminated due to lack of efficacy.

  • YosemitePhase 3 · started 2013 · terminated

    Placebo in indolent non-hodgkin's lymphomas · n=295

    No reason recorded in the registry.

  • BridalveilPhase 3 · started 2013 · terminated

    Idelalisib in indolent non-hodgkin's lymphomas · n=475

    No reason recorded in the registry.

  • NCT01672866Phase 2 · started 2012 · terminated

    Placebo in liver fibrosis due to nash · n=222

    No reason recorded in the registry.

  • NCT01659021Phase 3 · started 2012 · terminated

    Idelalisib in chronic lymphocytic leukemia · n=261

    No reason recorded in the registry.

  • NASHPhase 2 · started 2012 · terminated

    Placebo in liver fibrosis due to nash · n=259

    No reason recorded in the registry.

  • ATLASPhase 2 · started 2012 · terminated

    Simtuzumab in idiopathic pulmonary fibrosis · n=34

    Reason given: The Study was terminated due to lack of efficacy.

  • NCT01539291Phase 3 · started 2012 · terminated

    Idelalisib in chronic lymphocytic leukemia · n=161

    No reason recorded in the registry.

  • NCT01585688Phase 1/2 · started 2012 · terminated

    hLL1-DOX (IMMU-115) in non-hodgkin's lymphoma · n=13

    Reason given: Study was terminated due to lack of efficacy, as a result, the stability program for the drug product was discontinued

  • NCT01659047Phase 2 · started 2012 · withdrawn

    GS-1101 in chronic lymphocytic leukemia · n=0

    No reason recorded in the registry.

  • NCT01479465Phase 2 · started 2011 · terminated

    Simtuzumab in colorectal cancer · n=266

    No reason recorded in the registry.

  • NCT01384383Phase 2 · started 2011 · terminated

    GS-5885 in chronic hepatitis c · n=248

    No reason recorded in the registry.

  • NCT01203930Phase 2 · started 2010 · terminated

    Idelalisib in chronic lymphocytic leukemia (cll) · n=105

    No reason recorded in the registry.

  • NCT01101594Phase 1/2 · started 2010 · terminated

    hLL1-DOX (the doxorubicin conjugate of milatuzumab) in multiple myeloma · n=17

    Reason given: Study was terminated due to lack of efficacy

  • NCT01101581Phase 1/2 · started 2010 · withdrawn

    Veltuzumab and 90Y-Epratuzumab Tetraxetan in non hodgkin's lymphoma · n=0

    Reason given: No subjects enrolled

  • NCT01090414Phase 1/2 · started 2010 · terminated

    Idelalisib in chronic lymphocytic leukemia · n=202

    No reason recorded in the registry.

  • NCT00650949Phase 1/2 · started 2009 · terminated

    CYT997 in glioblastoma multiforme · n=20

    Reason given: Strategic

  • ARTEMIS-PHPhase 3 · started 2009 · terminated

    Ambrisentan in idiopathic pulmonary fibrosis · n=40

    No reason recorded in the registry.

  • NCT00874796Phase 2 · started 2009 · terminated

    GS-9450 in hcv infection · n=307

    Reason given: Reports of significant laboratory abnormalities and adverse events in a number of clinical study participants.

  • NCT00907764Phase 2 · started 2009 · terminated

    regadenoson in heart disease · n=22

    Reason given: Slow enrollment

  • NCT00832507Phase 2 · started 2009 · terminated

    Cicletanine in pulmonary arterial hypertension · n=162

    No reason recorded in the registry.

  • NCT00814372Phase 2 · started 2008 · terminated

    MBX-102 in type 2 diabetes mellitus · n=242

    Reason given: MBX-102 did not meet the target efficacy profile of HbA1c change.

  • ARTEMIS-IPFPhase 3 · started 2008 · terminated

    Ambrisentan in idiopathic pulmonary fibrosis · n=494

    Reason given: Lack of efficacy

  • NCT00664378Phase 2 · started 2008 · terminated

    CYT997 in relapsed and refractory multiple myeloma · n=5

    Reason given: Difficulty enrolling patients

  • NCT00547066Phase 1/2 · started 2007 · terminated

    veltuzumab in purpura, thrombocytopenic, idiopathic · n=48

    No reason recorded in the registry.

  • NCT00499239Phase 1/2 · started 2007 · terminated

    GS-9219 in non-hodgkin's lymphoma · n=32

    Reason given: Unacceptable safety profile

  • DarusentanPhase 3 · started 2007 · terminated

    Darusentan in hypertension · n=661

    Reason given: Study DAR-312 did not meet its primary co-endpoints.

  • DarusentanPhase 3 · started 2006 · terminated

    Darusentan in hypertension · n=282

    Reason given: Study DAR-312 did not meet primary co-endpoints

  • NCT00113802Phase 2 · started 2004 · terminated

    Epratuzumab (hLL2- anti-CD22 humanized antibody) in waldenstrom macroglobulinemia · n=31

    Reason given: low accrual

  • NCT00077948Phase 3 · started 2003 · terminated

    Enoximone in heart failure, congestive · n=175

    No reason recorded in the registry.

  • NCT00051285Phase 3 · started 2002 · terminated

    Enoximone in heart failure, congestive · n=1800

    No reason recorded in the registry.

Counts cover interventional Phase 2 and Phase 3 studies registered under this sponsor name, retrieved 2026-09-13 from ClinicalTrials.gov API v2. Trials stop for many reasons — futility, safety, enrollment, funding, or a decision to back a different programme — and the registry often does not say which. This is the sponsor's record, not a prediction about any specific readout.