Gilead Sciences, Inc.

Company facts

Industry

Biological Products, (No Diagnostic Substances)

Headquarters

Foster City, California

Most recent report

10-Q, filed Aug 6, 2026

Incorporated

Delaware

Filings on record

1,003+ filings

On EDGAR

CIK 882095

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 13 sections worth reading, with 1 positive, 6 notable, and 8 negative flags.

• Financial Statements (Item 1)

  Core financials with Q2 net loss of $10.5B from $12.9B in acquisition/impairment charges.
  Notable

  • Three Q2 acquisitions closed: Arcellx ($6.4B), Tubulis ($3.2B), Ouro ($1.6B).
  • Issued $3.0B new senior notes and drew $1.1B term loan; $3.6B undrawn cancelled.
  Negative

  • $1.75B impairment of Trodelvy NSCLC IPR&D after EVOKE-03 discontinuation.
  • $568M of pre-commercial Trodelvy inventory not FDA-approved for manufacturing.

• Management's Discussion (Item 2)

  Net loss $10.5B from huge acquisition/impairment charges; key product trends; cash flows.
  Positive

  • Operating cash flow $6.1B in H1 2026 vs $2.6B a year ago, helped by lower taxes and Lakefront payment.
  Notable

  • Descovy HIV sales up 48% in Q2 2026 to $967M, driven by price and demand; Biktarvy up 7% to $3.8B.
  • Acquired IPR&D $11.2B in Q2 2026: $7.0B Arcellx, $3.1B Tubulis, $1.0B Ouro Medicines (net of Lakefront share).
  Negative

  • Veklury sales down 81% in Q2 2026 to $23M as COVID hospitalizations fall.
  • Cell Therapy sales down 14% in Q2 2026 to $417M, reflecting ongoing competitive headwinds.

• Risk Factors (Item 1A)

  Many new company-specific risks: tariffs, Biktarvy pricing, trial failure, $32B investment.
  Notable

  • Gilead agreed with U.S. administration to implement MFN pricing in Medicaid and future products.
  • Pledged $32B U.S. manufacturing investment through 2030; risks include delays, cost overruns, regulatory issues.
  Negative

  • Biktarvy selected for Medicare Maximum Fair Price negotiation starting 2028, likely cutting revenue.
  • 100% tariff on patented pharmaceuticals from H2 2026 could raise costs and disrupt supply chain.
  • Counterfeit Gilead medication seized; unauthorized distributors sold fake drugs to independent pharmacies.
  • Phase 3 EVOKE-03 trial discontinued June 2026; impairment charge taken in Q2 2026.

What changed: Jun 2026 vs. Mar 2026

About 15% of GILD's Jun 2026 10-Q is new information. 71 paragraphs were added, 175 changed, and 54 removed. Below are the most important lines SECSift identified.

• Item 2 71
• Item 1 65
• Item 6 41
• Item 1A 26
• Item 5 2
• Item 4 2